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CMG Financial offers the best of both worlds with branch locations across the US and a solid online and mobile presence — which means you never have to visit your loan officer in person, if you don’t want to. But comparing this lender to the others can be tough because you can’t get info on interest rates or lender fees without going through the preapproval process.
Loan products offered | Conventional, Jumbo, FHA, VA, USDA, Refinance |
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Minimum credit score | Conventional: 620 |
Minimum down payment | 3% |
State availability | Available in all states |
NMLS # | 1820 |
You have to go through the preapproval process to learn CMG’s underwriting qualifications. But lenders typically look at your credit score, down payment and debt-to-income (DTI) to determine how much loan you can afford.
CMG may require the following documents to process your application:
If you get preapproved, your loan information should include the estimated costs and fees associated with your loan, but you can expect to pay the following:
The company doesn’t disclose what kind of lender or underwriting fees it charges.
You can get preapproved for a loan from the CMG website or mobile app in just a few steps.
Once the lender processes your application, it may contact you to supply any needed documentation. If you’re using the mobile app, use your phone to scan in the documents and send them right away.
CMG offers the following additional mortgage loans.
This lender offers most standard loans but no home equity products. Instead, it has two special programs, the All In One loan, which is unique to CMG Financial, and the HomeFundIt app, which allows you to crowdfund your down payment.
As of March 2021, CMG Financial isn’t accredited with the Better Business Bureau (BBB) but has an A+ rating for closing 62 customer complaints in the last three years. The BBB has 26 customer reviews on the lender averaging 1.73 stars out of 5. The lender fares better on Yelp, with almost 3.5 stars out of 5 from 35 reviews.
Customers mostly complained of poor customer service and mismanaged billing practices.
CMG Financial is a privately held mortgage lender licensed in all 50 states and Washington, DC. The company was founded in 1993 and is headquartered in San Ramon, California. The lender also has a wholesale lending division, which provides loans to outside credit unions and mortgage brokers.
Review by
Heather Petty is a writer at Finder specializing in banking, investments and insurance. She's a self-proclaimed word nerd who worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. Heather earned a bachelor’s degree in English from the University of Nevada, Reno.
CMG Financial offers a wide variety of mortgage products, with some great low down payment options. Its focus on technology may help streamline the application process and keep you in contact with your loan officer without having to visit a branch.
But if you’re interested in accessing your home’s equity, the All In One loan product is your only option, which may not be a good fit for many borrowers. If that’s a dealbreaker, compare other mortgages to find the best loan for you.