The retail division of CMG Financial, a mortgage banking firm headquartered in California, has launched a new unit: CMG Home Loans.
CMG Home Loans is expected to continue CMG Financial’s growth while also sharpening its focus on consumers. In that pursuit, investments will be made to simplify the consumer experience and open more pathways to homeownership through education and affordability initiatives. In addition to loan program options, CMG Home Loans will continue to enhance proprietary programs like the All In One Loan and HomeFundIt.
The All In One Loan provides home buyers and owners an opportunity to shrink the cost of mortgages more rapidly, without changing their budget. Unlike standard conventional loans, the All In One Loan™ merges home financing with personal banking into one financial tool, which allows customers to use idle money to reduce their mortgage balance while having access to these liquid funds for longer than a traditional home equity line of credit (HELOC). Oftentimes, the All In One Loan can help borrowers pay off their balance 2-4 times faster than traditional loans and save tens of thousands of dollars in interest costs.
HomeFundIt is an online platform that allows home buyers to build a customized contribution campaign, raise down payment gifts online, and accept contributions from anyone with a credit or debit card – without fees or offline paperwork. Established in 1993, the CMG Retail Division has grown from a small California business to a nationwide lender with over 240 branches and more than 700 loan officers.