Conventional

A conventional mortgage refers to a loan that is not insured or guaranteed by the federal government. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac.

  • Most commonly used home loan program in the U.S.
  • Minimum of 5% down required
  • Fixed and Adjustable Rates available
  • Payment is fully amortized (no negative amortization or interest only)
  • Mortgage insurance typically required when the loan-to-value (LTV) ratio exceeds 80%
  • Loan limits vary by county

 Jumbo Mortgage

Also referred to as a non-conforming loan, a jumbo mortgage is similar to a conventional loan, but with a loan balance above conventional conforming loan limits.

  • Loan amounts up to $5 million
  • Fixed and Adjustable Rates available
  • Interest only option available
  • Niche lending options – contact us

 FHA

A FHA mortgage is insured by the Federal Housing Administration, a government agency within the U.S. Department of Housing and Urban Development.

  • Excellent program for first time buyers (anyone is eligible)
  • Flexible credit and income guidelines
  • Low down payment options
  • Fixed and adjustable rates
  • Payment is fully amortized (no negative amortization or interest only)
  • Monthly mortgage insurance is almost always required

 VA

A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veteran’s Affairs (VA).

  • A down payment is not typically required
  • No mortgage insurance
  • Flexible credit and income guidelines
  • Fixed interest rates
  • Payment is fully amortized (no negative amortization or interest only)
  • Reduced closing fees
  • Borrower must be eligible for VA financing

 All-In-One Account (AIO)®

Also known as an offset mortgage, the AIO account is a first position line of credit that comes with full suite of banking features.  The mortgage is simply linked to a non-interest bearing account. The entire balance in the savings account is then applied against the loan balance thus reducing the borrower’s overall interest charge.

  • Pay off your home more quickly without changing your spending habits
  • Credit line provides you with greater flexibility and control
  • Logical “make sense” underwriting
  • No mortgage insurance
  • Loan amounts up to $2.5M+
  • Patented home loan program – offered exclusively by CMG Financial

 Home Affordable Refinance Program (HARP)

HARP is designed to help homeowners who have little, or no equity, obtain a more affordable and stable mortgage.

  • No equity required
  • Fixed interest rates
  • Payment is fully amortized (no negative amortization or interest only)
  • Mortgage insurance only required in rare cases
  • Loan limits vary by county
  • Must meet HARP eligibility requirements – contact us

 

 HomeFundItTM – Down Payment Crowdfunding

Grow your down payment with the first and only approved down payment crowdfunding platform.  Your campaign integrates easily into social media accounts, wedding registries, and anywhere else online for simple sharing. 

  • Available for first-time home buyers and repeat buyers.
  • All funds collected are compliant and properly documented
  • Funds-matching grant opportunities
  • Conventional, conforming loans only
  • No transaction fees