Prospect Mortgage LLC has launched a new builder division in Texas focused on mortgage products for new home construction. Prospect's Texas builder division will be located in the company's 30,000-sq. ft. facility in Irving, Texas.
"Prospect understands the unique aspects of new home financing as well as the service and reliability builders need," said Mike Kelly, SVP, new construction and renovation division. "As one of the nation's largest independent direct residential retail lenders, we offer a wide range of products and a specialized team with years of experience in financing for homes in new construction projects."
Prospect's builder division includes a dedicated team to assist builders. It offers builders numerous benefits, including:
►Specialized staff with years of experience and strong agency relationships to support the project review process
►Extended rate locks during construction to provide buyers peace of mind and mitigate pipeline fallout
Special financing program for standing inventory
►New construction experienced appraiser team
►Unique daily reporting capabilities for all pre-qualifications and loan pipeline
►Condo project approval services
►Non-warrantable condo solutions for new and aged condominium projects
►A wide range of services designed for new home communities
"Prospect is committed to Texas and to serving the builder community in the state," said Kelly. "Whether it is a residential subdivision or condominium project, Prospect has the product lineup, experienced leadership, operational support and dedicated and trained loan officers to help builders do what they do best - sell more homes."