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Underwriting Updates

Pineapple works with over 40 lenders plus the big banks. Get lender updates, rate announcements, and more from our dedicated Underwriting Department.

Pineapple Rate Sheet

Click here to access the current rates.

Lender Information

CMLS – HELOC

The CMLS Home Line product will be launched in a series of phases, with the ultimate goal of delivering a fully-featured HELOC product. The details on the initial launch phase are below.

  • The Home Line product must have both a mortgage and line of credit portion, with separate mortgage applications for both.
  • First mortgage must be insured or insurable
  • HELOC is uninsured and the limit may not exceed 50% of the total loan balance
  • HELOC minimum payment is interest only with monthly frequency
  • HELOC payment is qualified at the greater of approved limit amortized over 25 years at current benchmark rate or contract rate plus 2%
  • Minimum HELOC amount is $10,000
  • Maximum LTV is 80% and only eligible on a purchase or transfer
  • Maximum property value $1,000,0000*
  • 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)
  • Only available in AB, BC, and ON

For full underwriting requirements please refer to CMLS’s current rate sheet.

Change to Sliding Scale – click the link for more details.

Change of BDM for Ottawa, Kingston, Eastern Ontario – First National – Shannon Parker has retired and Bonnie Peterson has taken over.

Latest Video

First Time Home Buyer: Purchase

Essential Tutorial Videos

The New Underwriting Process

Emerson shares a high-level overview of the updated underwriting process. 

What You’ll Learn

  • The new 9 step process for submitting your deal.
  • The importance of having your docs before submitting them to underwriting.
  • The new timelines that have been implemented into the Underwriting Process.

Utilizing Equity In Your Home

Emerson takes us through utilizing the equity in your home. Equity is the difference between the value of your home and how much you owe on your mortgage.

What You’ll Learn

  • There are two ways to build equity, the first is paying down the mortgage and the second is an increase in the property‚Äôs value.
  • How to use the equity in your home. He then goes through a real-life case study.

Mortgage Switch / Transfers

Emerson Munsayac takes us through Switches ve Transfers. He kicks off the meeting by explaining that a switch/transfer is when a client decides to move their mortgage from one lender to another.

What You’ll Learn

  • The difference between a mortgage switch and transfer.
  • How to utilize the calculators within our PineappleDOS system