CMLS Financial (Canada’s Mortgage Company) is one of Canada’s largest independent mortgage lenders, offering a comprehensive range of residential and commercial mortgage products. They provide prime, near-prime, and alternative lending solutions—all accessible exclusively through mortgage brokers.
Mortgage Products Available
- Prime Fixed & Variable Mortgages
Competitive options for borrowers with strong credit and traditional income sources. - Near-Prime and Alternative Mortgages
Designed for borrowers with credit challenges, high debt ratios, or non-traditional income. - Rental Property and Investment Mortgages
Tailored financing for investors, including multi-unit residential properties. - Refinance, Renewals & Switches
Flexible refinancing to access equity or switch lenders without costly penalties. - HELOC-style Credit Access
Providing revolving credit secured by home equity.
Who CMLS Works Best For
CMLS Financial is a strong match for:
- First-time buyers qualifying for prime or insured mortgages
- Borrowers with bruised credit or a consumer proposal
- Self-employed individuals needing flexibility
- Real estate investors financing rental properties
- Homeowners looking for swift refinancing or renewal options
Their underwriting model allows for both traditional and alternative income verification, making them a versatile lender for many Canadian borrowers.
Key Benefits
- Flexible and Inclusive Underwriting
Their near-prime and alternative products consider full financial context. - Competitive Pricing
Prime rates often rival bank rates, while alternative products support wider borrower profiles. - Generator of Options
Multiple product lines allow brokers to tailor solutions to individual client needs. - Broker-Centric Service
All products are broker-only, ensuring that your mortgage advisor coordinates applications, approvals, and closing details.
Considerations & Limitations
- Broker Access Only
Not available to retail clients—must be accessed through a licensed broker. - Lender Fees & Appraisals
Alternative products often come with fees and may require stricter appraisal rules. - Higher Rates on Alternative Alternatives
Near-prime products typically carry higher interest rates than conventional bank offerings. - Term Restrictions on Alternative Products
May be shorter and require renewal or refinance sooner.
Understanding Borrower Fit
CMLS offers more flexible mortgage options, but they may not suit every borrower—especially those with strong prime profiles. For standard prime borrowers, big banks or other lenders may provide better rates or features. If you’re unsure what path is right for you, working with a broker ensures the right match.
Next Steps with The Local Broker
We help clients explore CMLS and other lenders to find the mortgage solution that best fits your situation. If you’re:
- Buying your first home
- Refinancing to access equity
- Renewing or switching for better terms
- Managing a complex income scenario
…you can start your mortgage or refinance application online or get in touch with us directly to discuss your options.
Final Word
CMLS Financial offers a wide spectrum of mortgage solutions through its broker-only model. If you need competitive prime rates or alternative lending flexibility, they may be worth exploring.
Not all brokers can access all lenders, so working with someone who knows your options—like The Local Broker—ensures your mortgage aligns with your financial goals.
