Physical Address

304 North Cardinal St.
Dorchester Center, MA 02124

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Min. Down Payment
Min. Credit Score
Min. Down Payment
Min. Credit Score
Min. Down Payment
Min. Credit Score

CMG Financial offers a variety of loan products, including:

  • Conventional fixed- and adjustable-rate loans.
  • Federal Housing Administration loans.
  • Veterans Affairs loans.
  • U.S. Department of Agriculture loans.
  • Jumbo loans.
  • FHA 203(k) renovation loans.
  • Fannie Mae HomeReady loans.
  • Freddie Mac Home Possible loans.
  • Refinancing.

Prospective borrowers can start on CMG’s website, where you can be preapproved for a home loan and search for a nearby mortgage professional who will help you through the homebuying process. With the CMG HOME mobile app, prospective homebuyers can connect with a loan officer, fill out an application, submit documents and calculate monthly payments.

After you’ve successfully made an offer on a home, you’ll provide your loan officer with a copy of the contract. The processing team will verify the information on your application and evaluate the loan request. After underwriting, you’ll get a conditional approval. When the loan is ready to close, your loan officer will coordinate final steps.

Terms vary across products, but CMG Financial has conventional loan options with terms ranging from 10 years to 30 years. Down payments for some conventional loans can be as low as 5% or even 3%, but down payments below 20% require the buyer to pay private mortgage insurance. The PMI can be canceled once you reach 20% equity.

Jumbo loans, which exceed the conforming loan limits in your area, require a debt-to-income ratio of 43% or below and a down payment of 10.01% or higher. Closing costs may include an appraisal fee, credit report fee and loan origination fee.

Through its HomeFundIt program, CMG offers closing cost grants for qualifying first-time homebuyers who complete a free homebuyer education course or prepurchase counseling. CMG Financial will provide a 2-for-1 match of funds you get from family and friends up to the lesser of $2,000 or 1% of the purchase price.

Qualifying homebuyers may be eligible to get up to $2,500 toward down payment or closing costs with the Freddie Mac BorrowSmart Program. Borrowers must meet income requirements and complete prepurchase counseling.

CMG also offers the All In One Loan, which combines home financing and banking, allowing you to make deposits that lower your loan’s principal. Those funds are available for expenses, and interest is calculated on the average daily balance. The result is lower monthly interest payments and an ability to reduce the time it takes to pay off your loan.

Specific requirements in addition to minimum credit score vary by product. Conventional loans require that the applicant have a DTI ratio of 45% or lower and a credit score of at least 620. Some conventional loans have options for down payment requirements as low as 3% or 5%, but a down payment lower than 20% necessitates that the borrower pay private mortgage insurance.

To qualify for a CMG conventional home loan, you’ll need a credit score of at least 620, and CMG will also figure in DTI, income and employment history. FHA, USDA and VA loans can have lower credit score thresholds. For example, you may qualify for an FHA loan with CMG if you have a FICO score of at least 580. You will need a higher credit score to qualify for a jumbo loan; CMG says prospective borrowers hoping to get a jumbo loan should have a score around 680 or above.

CMG is licensed in all 50 states and Washington, D.C.

CMG Financial has an A rating from the Better Business Bureau.

The Consumer Financial Protection Bureau received 33 complaints about CMG Mortgage in 2022. The majority were related to trouble during the payment process. The company provided a timely response to all of the complaints. It closed all of the complaints with an explanation.

CMG’s hours of operation are 8 a.m. to 5 p.m. Pacific Time Monday through Friday. Customers with questions about new purchases can call 833-362-0619 or email [email protected]. Customers with questions about refinancing can call the same number or email [email protected]. Those who have questions about loan payments can call 866-659-8989, unless their loan number starts with a zero, in which case the number to call is 888-262-0450. You can also email [email protected]. Customers with questions about the All In One Loan product can call 833-246-5363 or email [email protected].

Users can also ask questions of the chatbot on CMG Financial’s website.

CMG Financial offers an app called CMG HOME to help you navigate your home search and mortgage financing. You can connect directly to a CMG loan officer or real estate agent through the app. The app also provides a loan progress tracker.

  • People who are looking for creative solutions to fund a down payment.
  • People who want digital tools to contact a lender and track the loan process.
  • People who want to finance a renovation.

Sarah Goldberg
Sarah Goldberg

Sarah is a seasoned financial market expert with a decade of experience. She's known for her analytical skills, attention to detail, and ability to communicate complex financial concepts. She holds a Bachelor's degree in Finance, is a licensed financial advisor, and enjoys reading and traveling in her free time.

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