Among its many other effects, Austin’s 2021 homebuying spree has highlighted the need for a wider range of real estate-related services in the Texas capital.
This has spurred the expansion of major real estate brokerages such as Douglas Elliman and Compass into the city in recent years and generated a housing construction boom in the metropolitan area. It has also created a need for more lenders, especially those who specialize in financing single home buyers.
In anticipation of continued strong demand for housing, despite rising interest rates, an Austin-based mortgage lender is in expansion mode. LendFriend will move to a new 16,200 square foot office in North Austin for its growing staff and clientele. The mortgage lender plans to add 15 to 20 new employees to work as loan officers and assistants, business development associates and in operations. LendFriend currently has 65 employees in Austin.
The move follows a year of record growth for LendFriend, which is a subsidiary of AmCap Home Loans of Houston, according to that company’s website. In 2021, LendFriend surpassed $376 million in funded loan volume, opened a new office in Jacksonville, Florida, and increased the size of its staff. The new Austin office is at 11000 North Mopac Expressway.
LendFriend was founded by brothers Eric and Michael Bernstein in Austin in 2018.