The privately-held mortgage banker has now launched the product in Texas
A proprietary loan product from CMG Financial is now available nationwide.
The privately-held mortgage banker has launched its All In One loan in Texas for non-homestead properties, extending its coverage to all 50 states.
The loan, which combines home financing with personal banking in one accessible account, was launched in 2005 and is available through CMG’s retail loan officers, select wholesale mortgage brokers, and correspondent lending partners.
"It creates an enormous opportunity for mortgage originators to help reduce the size of one of the biggest financial obstacles their clients face, while simultaneously maximizing the investment they've made, or are considering making, in real estate," said Dave Herbst, Vice President, AIO Finance.
10% down payment
CMG recently enabled borrowers to apply for All In One with a 10% down payment.
To qualify for the 10% down payment, the borrower must have a minimum FICO credit score of 760, while a higher down payment is required for borrowers with a 700 minimum FICO credit score. The All In One Loan can be used for the purchase or refinance of a primary and second home and to finance investment properties.
