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CMG Financial Mortgage Review: Is Their All In One Loan for You?


CMG Financial isn’t new to the mortgage industry, having been around since 1993.

That makes them a veritable veteran in the home loan space, as many of today’s top mortgage lenders have only been around since the 2000s.

Of course, age isn’t everything, so let’s talk about what sets apart this top-30 lender, with aspirations to crack the top-25 and beyond.

CMG Financial Quick Facts

  • Privately held retail mortgage lender founded in 1993
  • Located in San Ramon, California
  • Operates in all 50 states and the District of Columbia
  • Funded roughly $7 billion in home loans via retail channel during 2019
  • Top states based on loan volume include California, Tennessee, and Texas
  • Also runs correspondent and wholesale lending divisions

As noted, the company got its start all the way back in the early 1990s, when Christopher M. George established CMG Mortgage, Inc. in Pleasanton, California.

If you’re wondering what CMG stands for, well, now you know. Or at least I hope you know!

The company later began doing business as CMG Financial to better reflect its philosophy of making sure borrowers found the right solution for their broader financial goals, not just the mortgage.

They might be most famous for their Home Ownership Accelerator, now known as the “All In One Loan,” which received a U.S. patent in 2009. It’s a loan that functions as a checking account to help homeowners save on mortgage interest.

Last year, the company did roughly $7 billion in home loan origination volume via the retail channel, putting it near the top-25 nationally.

They were most active in the states of California, Tennessee, and Texas, but are licensed nationally.

In November 2023, CMG Financial acquired Shamrock Home Loans to expand its presence in the Northeast.

Applying for a Home Loan with CMG Financial

  • You can apply directly from their website or smartphone app
  • Alternatively you can visit a local branch or call them up on the phone
  • They offer a digital mortgage application with the ability to scan and upload documents
  • Can track loan progress and receive status updates via the CMG Home app

If you’re ready to apply or get a mortgage pre-approval, CMG Financial allows you to apply directly from the website or via their mobile app.

They’ll ask if you’re already working with a CMG loan officer, and if yes, will prompt you to find your loan officer by name or location.

If no, you simply get started by providing your email address, at which point you can begin the home loan application process.

From there, you’ll be able to securely scan and upload documents, check loan progress, and receive updates as you move toward the finish line.

You can also message your loan officer if you need assistance at any time during the process.

CMG Financial operates a correspondent and wholesale lending division as well, meaning it’s possible you could be sold a mortgage from them via a credit union or a mortgage broker.

Loan Types Offered by CMG Financial

  • Home purchase loans and refinance loans
  • Conventional loans including Fannie Mae HomeReady and Freddie Mac Home Possible
  • Government loans including FHA loans, USDA loans, and VA loans
  • Home renovation loans
  • Jumbo loans up to $5 million loan amounts
  • Their proprietary All In One Loan
  • Fixed-rate options: 10, 15, 20, 25, and 30-year loan terms
  • Adjustable-rate options: 3/1, 5/1, 7/1, and 10/1 loan terms

CMG Financial offers all the usual stuff for those looking to purchase a home or refinance an existing home loan, along with some proprietary offerings.

You can get a conforming loan backed by Fannie Mae or Freddie Mac, or a jumbo loan with a loan amount as high as $5 million.

They also offer the full suite of government home loan options, including FHA loans, USDA loans, and VA loans.

Those purchasing or refinancing a fixer-upper can take advantage of the FHA 203k loan program.

In terms of loan programs, you can get a fixed-rate mortgage such as a 30-year fixed or 15-year fixed, or an adjustable-rate mortgage like the 5/1 ARM.

They also participate in the Freddie Mac BorrowSmart program, which offers up to $2,500 in closing cost assistance to qualified borrowers.

Those in need of down payment assistance can take advantage of CMG’s HomeFundIt, which is a crowdfunding down payment solution that works sort of like GoFundMe.

The All In One Loan from CMG Financial

CMG refers to the All In One Loan as “the nation’s first transactional offset type-mortgage program.”

What they mean by that is you can potentially save thousands of dollars and shave years off your home loan by combining your mortgage and personal bank account.

Simply put, deposits you make into the account each month lower your loan’s principal balance, which reduces monthly interest payments.

It’s actually a 30-year home equity line of credit (HELOC), so the funds remain available for expenses too during the early years of the loan, without the need to refinance if you need cash access.

At the moment, it’s tied to the 1-month LIBOR, but once that index is phased out soon, it’ll be replaced with a similar mortgage index.

All in all, it’s a product geared toward a homeowner who wants to pay off their mortgage quickly, with added flexibility in case they need extra cash.

CMG Financial Mortgage Rates

Unfortunately, CMG Financial doesn’t disclose their mortgage rates on their website. So you’ll need to request a mortgage quote and/or apply to see their pricing.

As such, you won’t know how competitive they are unless you gather several quotes from competing lenders.

Additionally, there’s no mention of lender fees, so it’s not clear if they charge typical lender fees like an underwriting charge or a loan origination fee.

Be sure to inquire about both when shopping your home loan with CMG Financial to ensure you get the best deal on your mortgage, interest rate aside.

CMG Financial Reviews

They’re nearly perfect on Zillow, sporting a 4.98 star rating out of 5 based on nearly 2,500 customer reviews, with a lot of them indicating a lower interest rate than expected.

Additionally, they’ve got a 4.9 star rating out of 5 on TestimonialTree based on over 17,000 customer reviews.

Each loan officer also has their own hosted review page via TestimonialTree, which lists all their past customer reviews.

On BirdEye, they have a 4.3 rating out of 5 based on just over 125 reviews, but the comments are pretty thin.

While they are not Better Business Bureau accredited, they do have an A+ BBB rating. However, their customer review rating on the BBB website is less than 2 stars.

As always, try to find your specific loan officer’s reviews for the best indication of quality of service, experience, etc.

CMG Financial Pros and Cons

The Good

  • Licensed in all 50 states and DC
  • Branch offices in many locations nationwide
  • Can apply for a mortgage online or via the app
  • Lots of loan programs to fit all scenarios including proprietary offerings
  • Mostly excellent reviews from past customers
  • Free smartphone mortgage app and mortgage calculators
  • They service their home loans

The Possible Bad

  • Do not advertise their mortgage rates
  • Unclear what lender fees they charge
  • No second mortgages or home equity loan products available

5 thoughts on “CMG Financial Mortgage Review: Is Their All In One Loan for You?”

  1. This company is the absolute worst I have had the misfortune of working with in my 20+ years as a real estate broker. I have called the regional manager, corporate office customer service number and several other people and have not received a call back. I called the regional manager number in Raleigh 3 times and never got a call back. I called the customer service number and VP of Sales in their California corporate office and haven’t received a call back. I have no idea of how they stay in business. My team and I have closed over 2,500 transactions in the past 15 years and our company is the largest real estate company in terms of closed units and dollar volume in the southeast, having sold over 2 Billion in sales for several years running.

  2. Update on my previous post. I finally got a call from the regional manager. He is “looking” into my client’s loan, the issues with the information the client and I have provided. He is going to speak with the underwriter.

    The appraiser measured the distance from the well house and not the well itself to the septic system, which has created a problem. CMG wanted to have a survey done to map the placement of the well and septic, which would cost the buyer $450. We want to meet the appraiser at property to measure the distance again and not pay for a survey. The appraiser also noted there was an issue with the skirting.
    The buyer paid for a structural engineer to determine if the foundation of the home met FHA guidelines for a manufactured home. In his report it he stated that the foundation met FHA guidelines. However, it was noted there was an issue with the skirting. He also stated he would write a Permanent Foundation Certification once the skirting was repaired. The loan officer indicated once the appraiser verified the skirting was repaired that would suffice the foundation requirement. The loan processor still wants the certification letter which will cost the buyer $175 in addition to the re-appraisal fee.

    I understand following at a checklist and other lenders do too, but will consider verifiable alternate forms. CMG wants specific documents, even though they were provided alternative forms of verification. For one form we were having difficulty finding, we provided two alternate forms. One was a county tax card which showed the home is being taxed as real property and the other was a deed which stated real property.
    If CMG is unwilling to consider alternate forms of documentation, we will switch the loan to OnQ Financial.

  3. Howdy Jack,

    One of the reasons CMG remained a viable lender through the last financial crisis is their conservative guidelines. I’m surprised they lend on mobile homes which, when I was an SVP at a $15B thrift, we regarded as essentially a land loan.

    I’d suggest rather than lambasting them when there were obvious defects in the supplied ‘alternative’ documentation, you consider what you and your team might do to make it easier for CMG to get to ‘approved’.


  4. They have the worst customer service practice. The number on their website gets you nowhere. The email on their website gets you nowhere. How do you get in touch with this company? Was finally able to get a customer service rep on the phone who wasn’t much help at all except to take a message and inform us that there is no number or email to the loan assumption department. Was informed of two dates that someone in the loan assumption department would call. No one called on the scheduled dates. My son has a person who wants to assume his VA Loan but is unable to get in touch with his own mortgage company to get the process started. This company is a nightmare! I hope thousands of people see this note. DO NOT USE THIS COMPANY FOR YOUR MORTGAGE.

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