SAN RAMON, Calif., October 12, 2021 (Newswire.com) - CMG Financial, a well-capitalized privately held mortgage banking firm headquartered in San Ramon, CA, announced today that the company will be increasing the conforming loan limits for all property types, including owner-occupied homes, vacation homes, and investment properties. As home values continue to increase, CMG Financial will continue to adapt and enhance its product menu to serve all markets and all home buyers.
As of Tuesday, Oct. 12, 2021, CMG Financial will be increasing the conforming maximum loan amount for the contiguous states and the District of Columbia from $548,250 to $625,000 for 1-unit properties. In addition, CMG Financial will be increasing the loan limits for 2-unit properties to $800,250 and to $967,250 for 3-and 4-unit properties. For high-cost areas and Alaska and Hawaii, the maximum loan amount will be increased to $937,500 for 1-unit properties, $1,200,375 for 2-unit properties, and $1,450,875 for 3-and 4-unit properties. CMG Financial is making this change in advance of the Fannie Mae and Freddie Mac 2022 update to ensure the company continues to provide consumers advantageous pathways to homeownership.
In the past year, CMG Financial has been acknowledged as a top lender for home buyers by multiple outlets including US News and World Report, Business Insider, Investopedia, and the Mortgage Reports. CMG Financial is known for its product innovation and excellent customer service. Proprietary home financing programs include the All In One Loan™, the first-lien HELOC designed to pay off the mortgage faster, and HomeFundIt™, the digital down payment gifting platform enabling first-time buyers to buy a home sooner with a larger down payment. As the housing market continues to evolve in the coming months, CMG Financial will continue to work to advance changes that increase accessibility to homeownership and improve the home purchase experience.
About CMG Financial
CMG Financial is a well-capitalized, privately held mortgage banking firm founded in 1993. The company makes its products and services available to the market through three distinct origination channels: retail lending, wholesale lending, and correspondent lending.
CMG Financial currently operates in all states, including the District of Columbia, and holds federal agency lending approvals with HUD, VA, RHS, GNMA, FNMA, and FHLMC. CMG Financial is widely known throughout the mortgage banking and housing markets for responsible lending practices, industry and consumer advocacy, product innovation, and operational efficiency.
Source: CMG Financial