Finance
CMG Financial Mortgage Review 2024
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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.
CMG Financial
Types of Loans Offered
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
Product Details
- 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:
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
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.
Rocket Mortgage Review
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.
Finance
German finance minister wants to scrap spousal tax splitting
Last weekend, several thousand people took to the streets in Munich to demonstrate against abortion and assisted suicide. One speaker made an extremely dramatic plea against what he called the “culture of death” that has allegedly taken hold in Germany. One sign of this, the speaker argued, was that the government is planning to abolish a regulation known as “spousal tax splitting.”
Is tax law really relevant to deep philosophical debates on the sanctity of life? It is even a matter of life and death at all? Surely we needn’t go that far? In any case, the intense political uproar surrounding the new debate on whether to abolish spousal tax splitting is notable, even by today’s standards of populist outrage.
An advantage for couples with widely divergent incomes
The row was sparked by Germany’s vice chancellor and finance minister, Lars Klingbeil, of the center-left Social Democratic Party (SPD), who said he wanted to abolish and replace the joint taxation of spouses’ income, a system that has been in place since 1958.
How exactly does spousal tax splitting work? In Germany, married couples (and since 2013, couples in civil partnerships), can choose to have their income assessed jointly by the tax authorities.
It means that the taxable income for both spouses together is halved – as if both partners had each earned an equal half of the income. Their tax liability is then determined by simply doubling the income tax due on one half.
As people who earn more pay higher taxes in Germany, this system benefits couples where one partner (and often this is still the man) earns significantly more than the other (in practice often the woman).
Costs of up to €25 billion per year
If for example one partner earns €60,000 ($70,512) a year and the other partner earns nothing, the couple will be taxed as if they earned €30,000 each. In this example, the couple would save nearly €5,800 in taxes per year compared to the amount they would owe if both partners filed their taxes separately. According to the Finance Ministry, spousal tax splitting costs the government a total of up to €25 billion annually.
Some critics have long viewed splitting as a tool to keep women out of the labor market, because the more a woman earns, the larger her tax burden becomes. Klingbeil seems to agree, arguing on ARD television in late March that the system was “out of step with the times.” The spousal splitting system reflects “a view of women and families that is completely at odds with my own,” he said.
Chancellor Merz said to be in favor of splitting
On Monday of this week, Klingbeil got some surprising support on this from Johannes Winkel, head of the youth wing of the conservative Christian Democratic Union (CDU).
“Given the demographic reality, the government should create incentives to ensure that both partners in a relationship are employed,” Winkel told the Funke Media Group. “In the future, tax relief should primarily be granted to married couples when they are facing hardships related to raising children.”
But the chancellor is a vocal skeptic of the proposal. “I am not convinced by the claim that joint filing for married couples discourages women from working,” Friedrich Merz said at a conference organized by the Frankfurter Allgemeine Zeitung newspaper. “Marriage is a relationship based on shared income and mutual support. And in a marriage, income must be treated as a joint income for tax purposes, not separately.”
Klingbeil’s alternative plan
At around 74%, the labor force participation rate for women in Germany is one of the highest in Europe, but half of them work part-time.
Klingbeil’s idea is to replace the existing system with a more flexible approach: Both partners would be able to distribute tax-free income among themselves in such a way that it minimizes their tax liability. This would allow the couple to continue enjoying a tax advantage, albeit not to the same extent as before. And whether one partner earns more than the other would become less important.
However, it remains to be seen whether Klingbeil will be able to push through his proposal. Aside from Germany, similar regulations offering tax benefits to couples exist in Poland, Luxembourg, Portugal and France.
This article was originally written in German.
Finance
Departing inspector general targets Council Office of Financial Analysis
The $537,000-a-year office created in 2014 to advise the City Council on financial issues and avoid a repeat of the parking meter fiasco has failed to deliver on that mission, the city’s chief watchdog said Tuesday.
Days before concluding her four-year term, Inspector General Deborah Witzburg said a shortage of both adequate staff and financial information closely held by the mayor’s office prevents the Council’s Office of Financial Analysis from helping the Council be the the “co-equal branch of government” it aspires to be.
In a budget rebellion not seen since “Council Wars” in the 1980s, a majority of alderpersons led by conservative and moderate Democrats rejected Mayor Brandon Johnson’s corporate head tax and approved an alternative budget, including several revenue-generating items the mayor’s office adamantly opposed.
But Witzburg said the renegades would have been in an even better position to challenge Johnson if only their financial analysis office had been “equipped and positioned to do what it’s supposed to do” — provide the Council with “objective, independent financial analysis.”
“We are entering new territory where the City Council is asserting new, independent authority over the budget process. It can’t do that in a meaningful way without its own access to financial analysis,” Witzburg told the Chicago Sun-Times.
Chicago Inspector General Deborah Witzburg’s latest report focuses on the Chicago City Council’s Office of Financial Analysis.
Jim Vondruska/Jim Vondruska/For the Sun-Times
But the Council’s financial analysis office, she added, “has never been equipped or positioned to do what it needs to do. It needs better and more independent access to data, and it needs enough staff to do its job. It has a small number of employees and comparatively limited access to data.”
The inspector general’s farewell audit examined the period from 2015 through 2023. During that time, the financial analysis office budget authorized “either three or four” full-time employees. It now has a staff of five .
Witzburg is recommending a staffing analysis to identify how many people the financial office really needs — and also recommending that the office “get data directly” from other city departments, “ rather than having it go through the mayor’s office.”
The audit further recommends that the office develop “better procedures to meet their reporting requirements” in a timely manner. As it stands now, reports are delivered “sometimes late, sometimes not at all,” the inspector general said.
“We find that those reports have been both not timely and not complete in terms of what they are required to report on and that those reports therefore have provided limited assistance to the City Council in its responsibility to make decisions about the city’s budget,” she said.
The Council Office of Financial Analysis responded to the audit by saying it hopes to add at least three full-time staffers in the short term and has made “some progress” over the last three years in improving their access to data, but not enough.
The office was created in 2014 to provide Council members with expert advice on fiscal issues.
For nearly two years the reform was stuck in the mud over whether former 46th Ward Ald. Helen Shiller had the independence and policy expertise to lead the office.
Shiller ultimately withdrew her name, but the office was a bust nevertheless. In an attempt to breathe new life into it, sponsors pushed through a series of changes.
Instead of allowing the Budget chair alone to request a financial analysis on a proposal impacting the city budget, any alderperson was allowed to make that request.
The office was further required to produce activity reports quarterly, not just annually.
Now former-Budget Chair Pat Dowell (3rd) then chose Kenneth Williams Sr., a former analyst for the office, as director and gave him the “autonomy” the ordinance demanded.
Two years ago, a bizarre standoff developed in the office.
Budget Committee Chair Jason Ervin (28th) was empowered to dump Williams after Williams refused to leave to make way for a director of Ervin’s own choosing.
The standoff began when Williams said he was summoned to Ervin’s office and told the newly appointed Budget chair was “going in a different direction, and I’m putting you on administrative leave” with pay.
“He took all my credentials and access away. I would love to come to work. I wasn’t allowed to come to work,” Williams said then.
Williams collected a paycheck for doing nothing while serving out the final days remainder of a four-year term.
Ervin’s resolution stated the director “may be removed at any time with or without cause by a two-thirds” vote or 34 alderpersons. He chose Janice Oda-Gray, who remains chief administrator.
Finance
Reilly Barnes Returns to Little League® as Purchasing/Finance Assistant
Little League® International has announced that Reilly Barnes accepted a new role as Purchasing/Finance Assistant, effective April 6, 2026. Barnes transitions from a temporary Purchasing Assistant to this full-time position to assist in the year-round demands of purchasing for the organization, as well as the region and Little League Baseball and Softball World Series tournaments.
“We are thrilled to welcome back Reilly to our team as a full-time Purchasing/Finance Assistant. Reilly’s prior experience, time management, and attention to detail make him an invaluable asset to the purchasing team,” said Nancy Grove, Little League Materials Management Director. “We look forward to the positive contributions he will have on our organization.”
In this role, Barnes will be responsible for processing purchase requisitions, coordinating souvenir products, and tracking order fulfillment. He will also assist with evaluating suppliers, reviewing product quality, and negotiating contracts for effective operations.
After most recently working as a Logistician Analyst at Precision Air in Charleston, South Carolina, Barnes, a Williamsport native, returns after honing his skills in the fast-paced environment. Prior to his time at Precision Air, Barnes served as a Procurement Specialist at The Medical University of South Carolina, where his expertise and knowledge were instrumental in supporting both education and healthcare needs.
“I am thrilled to return to Little League in this full-time role,” said Barnes. “Coming back to my hometown and having the opportunity to work for an organization that has played such a special part of my upbringing means a lot. I can’t wait begin this new opportunity.”
Barnes graduated from the University of Pittsburgh in 2022 with a B.A. in Supply Chain Management, Finance, and Business Analytics.
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