Grand Homes, a homebuilder that operates in the Dallas-Ft. Worth metroplex, is getting into the mortgage business with help from PrimeLending.
PrimeLending announced Friday that it is entering into an “affiliated business arrangement” with Grand Homes that will facilitate the launch of Grand Home Loans.
According to the companies, Grand Home Loans will begin mortgage lending in February 2018.
The companies say that they expect Grand Home Loans to make an “immediate impact” in the DFW area by offering an “extensive range of home loan solutions to aspiring home buyers.”
The company said that it will offer fixed and adjustable rate loans, as well as renovation and refinancing loans.
According to the companies, recruiting efforts to hire leadership, loan originators, and operations staff are currently under way.
Under the terms of the business arrangement, PrimeLending Ventures Management owns a majority interest in Grand Home Loans, while Grand Lending owns a minority interest.
Grand Home Loans will operate as a member of the Hilltop Holdings family of companies. PrimeLending is also a Hilltop Holdings company.
“We’re extremely excited about our relationship with Grand Homes,” Mike Matthews, senior vice president of joint venture sales and support at PrimeLending, said. “With our combined efforts, we’re confident we will be able to assemble a talented team of home loan experts dedicated to helping customers achieve their homeownership goals.”