Financial terms of the deal were not revealed.
“Cherry Creek is a Freddie- and Ginnie-approved lender and we are excited to take advantage of those vehicles,” said Kelley Hailstone, the president of Jet HomeLoans, in an interview. “It’s a strategic move on our part to obtain that better execution. Our intention is to provide better affordability to our customers who are buying DreamFinders homes and pass that along as more competitive offerings for consumers.”
Eight staffers from Cherry Creek will be moving over to Jet as part of the transaction.
Jet HomeLoans, founded in 2017 as a joint venture with Dream Finders, did roughly $2.3 billion in mortgage origination volume in 2024. And in July, Dream Finders, a top-10 homebuilder mostly focused on the Sunbelt, acquired the remaining shares of Jet HomeLoans. A few months later Dream Finders acquired Alliant Title Company.
Like many large homebuilders, Dream Finders has used temporary and permanent mortgage buydowns to attract homebuyers. To that end, Jet HomeLoans is planning to expand once approvals with the agencies come through and enable the lender to be a direct seller, Hailstone said.
Hailstone said Jet HomeLoans is “very open to partnerships with other lenders” who are looking for correspondent partners following the Cherry Creek acquisition.
Jet HomeLoans was advised on the transaction by Sterling Point Advisors, Milliman, and McGlinchey Stafford.
The announcement caps a busy two weeks for mergers and acquisitions in the mortgage space. Community bank Bank7 acquired a small Oklahoma independent mortgage bank last week, and Union Home Mortgage earlier this week announced the acquisition of NRL Mortgage, a $1 billion lender based out of Houston, Texas.
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