CMLS Financial
Is Part of RateShop Mortgage's Trusted Canadian Lender Network
CMLS Financial: Trusted Mortgage Solutions
History as a Mortgage Lender in Canada
Established in 1974, CMLS Financial has over 50 years of experience in the Canadian mortgage industry. It has grown to become one of the country’s largest non-bank lenders, managing over $40 billion in assets. With a commitment to innovation and service excellence, CMLS has built a reputation for offering flexible, client-focused mortgage solutions.
Types of Mortgage Products & Programs
CMLS Financial offers a wide array of mortgage products, catering to both residential and commercial borrowers:
Residential Mortgages:
Fixed-Rate Mortgages: Stability with consistent monthly payments.
Variable-Rate Mortgages: Potential savings with market-linked rates.
Construction Mortgages: Financing options for building your dream home.
Mortgage Refinancing: Unlock equity for renovations, investments, or debt consolidation.
Alternative Lending Programs: Designed for borrowers with unique circumstances, including bruised credit or non-traditional income.
Commercial Mortgages:
Financing for multi-residential, retail, office, industrial, and mixed-use properties.
Tailored loan structures for real estate investors and businesses.
Specialized Programs:
First-Time Buyer Programs: Designed for affordability and flexibility.
Self-Employed Mortgages: Flexible income verification solutions for business owners and contractors.
Newcomer Programs: Supports individuals new to Canada with simplified qualification criteria.
Minimum Credit & Income Requirements
CMLS offers flexible eligibility criteria to accommodate various borrower profiles:
First-Time Buyers:
Minimum Credit Score: 600–650 (depending on the product).
Down Payment: As low as 5% for insured mortgages.
Self-Employed Borrowers:
Accepts alternative income verification such as financial statements, contracts, or bank deposits.
Credit-Challenged Borrowers:
Offers alternative lending options with higher down payment requirements.
Newcomers to Canada:
Programs tailored to borrowers with limited Canadian credit history.
CMLS evaluates applications based on:
Credit Score: Minimum score varies by product but generally starts at 600–650.
Income Verification: Flexible options include pay stubs, tax returns, and bank statements.
Debt Service Ratios:
GDS: Maximum 39%.
TDS: Maximum 44%.
Down Payment: Minimum of 5% for insured loans and 20% for uninsured loans.
Property Valuation: Ensures the property’s market value aligns with the loan amount.
We'll find great rates like this one from one or our several lending partners across Canada.
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It is our job to get your lowest possible rate. Your rate qualification depends on certain factors, such as credit score and home equity as per regulations.
*Advertised rates may not be offered by this lender. Mortgage lender offers are aggregated by RateShop & its Brokerage Network subject to change without notice. Speak with our mortgage broker about APR and qualification requirements.
Mortgage Underwriting Criteria for Approval
Locations Serviced and Branch Presence in Canada
CMLS operates across Canada with headquarters in Vancouver and regional offices in cities such as Toronto, Montreal, Calgary, and Halifax. While it does not have physical branches, its strong broker partnerships and digital-first approach ensure seamless service nationwide.
Mortgage Application Checklist
To apply for a mortgage with RateShop and CMLS, borrowers should prepare:
Valid government-issued identification.
Proof of income (pay stubs, T4 slips, or business
financials for self-employed borrowers).
Recent bank statements showing the down payment.
Current credit report (optional, as CMLS performs its checks).
Purchase agreement for the property (if applicable).
How to Start a Mortgage Pre-Approval
To start your mortgage pre-approval with CMLS through RateShop:
Complete an Online Application: Provide your personal and financial details.
Submit Required Documents: Upload income verification, credit history, and other documents.
Consult with a Broker: RateShop brokers will guide you through the process.
Receive Your Pre-Approval: Lock in your rate for 90-120 days, giving you confidence while shopping for a home.
How to Get Mortgage Rates
CMLS offers competitive rates that can be accessed through:
RateShop’s Mortgage Comparison Tool: Compare CMLS rates with other lenders in real time.
Direct Broker Assistance: RateShop brokers negotiate the best rates and terms for you.
Mortgage Pre-Payment Options
CMLS provides flexible pre-payment features:
Lump Sum Payments: Pay up to 20% of the original mortgage principal annually.
Payment Increases: Increase regular payments by up to 20% annually.
Accelerated Payment Schedules: Opt for weekly or bi-weekly payments to reduce overall interest costs.
By partnering with RateShop and CMLS Financial, borrowers gain access to:
Competitive rates tailored to various financial situations.
Flexible lending options, including programs for self-employed and credit-challenged borrowers.
Nationwide service backed by over five decades of mortgage expertise.
Achieve your homeownership or investment goals with RateShop and CMLS Financial’s customer-focused mortgage solutions.
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Contact Information
6 Indell Lane, Brampton ON L6T 3Y3, Canada
Local: 416-827-2626
Toll: 800-725-9946
RateShop Inc. is a Mortgage Brokerage offering lowest mortgage rates to Canadians. We are provincially licensed in the following provinces: Mortgage Brokerage Ontario FSRA #12733, British Columbia BCFSA #MB600776, Alberta RECA #00523056P, Saskatchewan FCAA #00511126, PEI #160622, New Brunswick FCNB #88426, Newfoundland/Labrador. Our Quebec Mortgage Transactions are serviced by Orbis Mortgage Group AMF# 181136.
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