CMLS Home Line

CMLS’s Home Line is a flexible borrowing product that allows your clients to leverage their home equity to access additional funds. Whether for investment, renovation, debt consolidation, or unplanned expenses, you have a new option to help your clients achieve their long-term goals. With CMLS’s Home Line, it is available when they need it.

Combination HELOC Details

• Product must have both a CMLS Home Line mortgage and line of credit portion, with separate mortgage applications for both
• First mortgage can be insured, insurable, or uninsured
• HELOC limit, maximum 50% of the appraised value
• HELOC minimum payment is interest only with monthly frequency
• HELOC payment is qualified at the approved limit amortized over 25 years at the greater of current benchmark rate or contract rate plus 2%
• Minimum HELOC amount is $10,000
• Maximum LTV is 80%, property values over $1M subject to sliding scale
• Available on Purchase, Transfer, or Refinance
• Owner-occupied only - rental properties are not allowed
• Lending areas - current guidelines apply
• Beacon score - minimum 680 for all borrowers
• Appraisal required (partnership appraisal rebates available)

For full underwriting requirements please refer to our current rate sheet.

Please contact your regional manager for more information.

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