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Accessing Your CMLS Financial HELOC: Payment and Advance Requests

Edited

1. Overview If you have a Home Equity Line of Credit (HELOC) with CMLS Financial, it's important to know the methods available for making payments or requesting advances from your account. Currently, there are two primary ways to manage your HELOC transactions until the dedicated CMLS portal is launched.

2. Email Request For a convenient and documented approach, you can email your transaction requests to CMLS Financial. Here’s how:

  • Address: Send your email to service@cmls.ca.

  • Subject: Clearly mention the purpose of your request (e.g., "Advance Request," "One-Time Payment," etc.).

  • Content: Specify the type of transaction you need, such as:

    • One Time Payment

    • Advance

    • Ongoing Payment (on a customer-selected date)

    • Ongoing Payment (on the current interest-only payment date)

  • Amount: Include the exact amount(s) you wish to apply per request.

  • Processing: Upon receipt, the CMLS team will process your request as instructed.

3. Phone Request For those who prefer direct communication or need assistance, calling CMLS Financial is an effective option.

  • Phone Number: Dial 1-888-995-2657 Ext.7.

  • Availability: Ensure you call during their business hours for immediate assistance.

  • Request Types: You can process the same types of transactions as through email:

    • One Time Payment

    • Advance

    • Ongoing Payment (customer-selected or interest-only dates)

  • Agent Assistance: A live agent will assist you in processing your request over the phone.

4. Processing Time for Advances Be aware that when requesting an advance from your HELOC:

  • Time Frame: It may take 1-2 business days for the funds to appear in the bank account(s) on file.

  • Planning: Factor this time into your financial planning to ensure timely access to funds.

5. Upcoming Portal CMLS Financial is working on launching a dedicated portal for HELOC transactions. Once available, this will provide a more streamlined and user-friendly way to manage your HELOC.

6. Conclusion Managing your HELOC with CMLS Financial is straightforward and can be done either via email or phone. Remember to consider the processing time for advances and look out for the upcoming portal that will further simplify these transactions.

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