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Wells Fargo has reached an agreement with construction technology company ICON to serve as the preferred lender for its new 3D-printed residential properties. As part of the partnership, the bank will offer a 50 basis-point interest rate incentive to borrowers.
“The housing market is looking for new ways to increase supply and improve affordability, and this technology is now proven enough to do both at scale,” a Wells Fargo spokesperson said in a statement. “Our role is to step in and make sure buyers can actually finance these homes, so innovation in construction can translate into real access to homeownership.”
Historically, securing financing for 3D-printed homes has been challenging due to lender concerns surrounding the nascent technology, home valuations and insurance availability.
“We don’t have any reason to believe that the long-term value for these homes will be any different from homes that are built based on traditional construction technologies,” Serhat Oztop, head of home lending for Wells Fargo, told CNBC, which first reported the partnership.
Wells Fargo noted that it sees the move as a “natural extension of the housing network” that can expand supply and create more paths to homeownership.
“As adoption grows and confidence builds, we expect 3D-printed homes to become another viable option that fits within traditional mortgage lending,” the bank said in a statement.
In prior projects, ICON’s 3D-printed units were financed by Lennar. The companies joined forces in 2022 to build what they billed as the largest community of 3D-printed homes. Located in Georgetown, Texas, just north of Austin, the Wolf Ranch master-planned community developed by Hillwood Communities featured homes starting in the mid-$400,000s.
“Having one of the big banking players make such a strong and pointed announcement that we like these houses, we’re excited about these houses and, in fact, we’re going to give preferential treatment to these houses, I think, helps people just in a broad way who don’t track the minutiae of the housing mortgage industry,” Jason Ballard, co-founder and CEO of ICON, told CNBC.
An ICON spokesperson told HousingWire Wells Fargo will serve as ICON’s preferred lender, though buyers may use any lender they choose.
“This differs from how things operated with Lennar. Lennar was a partner on the entire build project, rather than a formal lender for the ICON homes at Wolf Ranch,” the spokesperson said. “At this time, we are not working with any other lenders in a formal capacity.”
The spokesperson added that the 50-basis-point discount will be available to all ICON homebuyers, but the final mortgage rate will depend on each borrower’s individual profile.
“We have several projects breaking ground this summer and fall that would bring an additional 60-plus ICON homes to market, and those homes would qualify for this offer,” the spokesperson said.
The two companies have partnered before. In 2024, ICON launched Initiative 99, an international competition challenging architects to design homes that could be affordably constructed by its 3D printers for $99,000 or less.
Backed by a $500,000 grant from Wells Fargo, the nonprofit Mobile Loaves & Fishes completed the first buildouts of these Initiative 99 designs in its supportive neighborhood for underhoused individuals and families.
In addition to consumer mortgages, ICON is currently offering its new Titan 3D printers to developers for $899,000, with Wells Fargo financing available to builders.
