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CMG Financial is a good mortgage lender that offers some less common and unique types of mortgages, including an offset mortgage. It also has down payment assistance and ranks high in customer satisfaction. But its average rates are slightly high.
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Conforming, jumbo, FHA, VA, USDA, renovation, HELOC, reverse mortgages, offset mortgage, All In One Loan™
- Unique mortgage offerings
- Up to $6,000 in down payment assistance for eligible borrowers
- High customer satisfaction ratings
- Average rates are slightly high
- Doesn’t display current rates online
- Offers home loans in all 50 US states and Washington, DC
- Minimum credit score and down payment displayed are for conforming mortgages
- Has branches in every state except Alaska, Kansas, Kentucky, North Dakota, and West Virginia
CMG Financial Basics
Nationwide Lending
CMG Financial offers mortgages in all 50 U.S. states. You can apply for a mortgage online or get started over the phone. It also has branches in every state except Alaska, Kansas, Kentucky, North Dakota, and West Virginia. You can find a branch or loan officer near you using CMG's search tool.
Variety of Loan Options
You can get the following types of home loans from CMG:
- Conforming loans
- Jumbo loans
- FHA loans
- VA loans
- USDA loans
- Renovation loans
- Home equity lines of credit (HELOC)
- Reverse mortgages
Unique Mortgage Offerings
CMG offers an offset mortgage called the All In One Loan™. An offset mortgage combines your loan with a checking account. The balance in the checking account offsets your mortgage balance, so you pay less in interest.
CMG's HomeFundIt™ program provides you with a link to share on social media so friends and family can donate money for your down payment. Then, with CMG's Exclusive Costs Covered program, first-time homebuyers can get $2 from CMG for every $1 donated, totaling a grant of up to either $2,000 or 1% of the purchase price, whichever is less. You also must complete a homebuyer education or counseling program to receive this grant. The grant money will go toward your closing costs.
Down Payment Assistance
CMG has a program called Community ONE which lets eligible borrowers put as little as 1% down on a home. The remaining 2% comes from CMG in the form of a grant of up to $6,000.
This program isn't available nationwide. You can use CMG's locator tool to see if it's available in your area.
You can also get a Freddie Mac BorrowSmart loan from this lender, which comes with up to $1,500 in assistance for borrowers in eligible areas who meet income limits.
CMG Financial Mortgage Interest Rates and Fees
Based on our review of Home Mortgage Disclosure Act data, CMG Financial's mortgage rates are a bit higher than average.
In 2022, the average borrower getting a conventional mortgage from this lender paid $3,938 in origination charges, according to HMDA data. This is around average compared to other lenders.
CMG Financial Overall Lender Rating
Loan Types: 4 out of 5
CMG Financial offers a wide variety of mortgages that should meet most borrowers' needs, plus some less common loan types and a couple of programs that are unique to this lender, including the All In One Loan.
Affordability: 3.5 out of 5
We think CMG Financial is a decently affordable lender thanks to its low down payment mortgage options (including the three main types of government-backed mortgages) and down payment assistance programs. But its average rates are slightly high.
Customer Satisfaction: 4.96 out of 5
On its Zillow lender page, CMG Financial has a 4.96 out of 5-star rating, based on over 3,000 customer reviews.
Trustworthiness: 4.5 out of 5
CMG Financial does not have any recent public controversies.
The Better Business Bureau gives CMG Financial an A rating because there are some customer complaints on the website. BBB ratings indicate how a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.
CMG Financial Pros and Cons
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Get an Offset Mortgage or Crowdfund Your Down Payment
CMG offers a couple unusual options for borrowers. If you're looking to save money on interest, you might like its offset mortgage called the All In One Loan. These loans work in conjunction with a checking account, where the balance in your checking account lowers the balance of your mortgage that you're charged interest on.
This lender also has a platform called HomeFundIt that lets you crowdfund your down payment. If your loved ones have expressed interest in helping you purchase a home, this could be a good way to do it. With the Exclusive Costs Covered program, CMG will grant you $2 for every $1 raised through HomeFundIt.
You Can't Explore Sample or Customized Rates
This lender does not show its current rates online. Some lenders list sample rates, and others let you customize your rate by entering your credit score, ZIP code, and other personal information. CMG Financial doesn't show any rates, though, which can make it difficult to compare it to other lenders without getting preapproved.
We also found that its average rates are slightly high compared to other lenders, according to HMDA data.
What Borrowers Are Saying About CMG Financial
Business Insider looked at positive and negative customer reviews, online forums, BBB complaints, and other sources to understand what borrowers think about CMG Financial.
Great Customer Service From Knowledgeable Mortgage Pros
In online reviews, previous borrowers said their experience with CMG was smooth, and that the loan officers they worked with were skilled and communicative.
How CMG Financial Compares
CMG Financial vs. Rocket Mortgage
Rocket Mortgage ranked No. 2 in customer satisfaction in 2023 according to J.D. Power's Mortgage Origination Satisfaction Study, and it has a reputation for providing great customer service. It's also our top pick in our guide to the best mortgage refinance lenders.
Rocket Mortgage and CMG both have 1% down programs; Rocket's is called ONE+, and it comes with a maximum grant of $7,000, which is slightly higher than CMG's Community ONE grant.
If you're looking for a less common type of mortgage or you want to explore many different options, you might like CMG better, since Rocket's offerings are relatively basic.
CMG Financial vs. Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is another great lender for customer service. It was No. 1 in J.D. Power's 2023 satisfaction study.
Fairway also offers a strong range of mortgage options, plus a $7,000 grant for borrowers in eligible areas. It also has hybrid and remote closing options. It may be worth getting approved with both of these lenders to see which one can offer you the best overall deal.
Fairway Independent Mortgage Corporation Review
CMG Financial FAQs
Yes, CMG Financial is a direct lender. This means it originates its own loans, as opposed to a mortgage broker, which connects borrowers with multiple lenders to find the best fit.
Christopher M. George founded CMG Financial in 1993. He still acts as President and CEO of the company.
Based on our review of HMDA data, CMG Financial's mortgage rates are on the high end compared to other lenders.
CMG Financial ranks high in customer satisfaction, and many online reviews say they have a positive experience with this lender.
Yes, CMG Financial has a few different unique mortgage programs, including its down payment crowdfunding platform HomeFundit and its offset mortgage, called the All In One Loan. It also offers a down payment assistance program called Community ONE.
You should shop around with multiple mortgage lenders and compare offers to make sure you're getting the best deal. Consider exploring some nearby alternatives to CMG, such as a local lender or credit union.
Why You Should Trust Us: How We Reviewed CMG Financial
For our review of CMG Financial, we used our methodology for reviewing mortgage lenders.
We look at four factors — loan types, affordability, customer satisfaction, and trustworthiness — and give each a rating between 1 and 5, then we average these individual ratings for the overall lender rating. Lenders get higher ratings if they offer a large number of loan types with affordable features, have positive customer reviews, and don't have any recent public controversies.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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