Arcus Lending, one of the fastest-growing mortgage companies in the United States, is opening an office in Austin. The company announced the move on March 13, 2019. Austin will be its second Texas location, since Arcus already runs an office in Dallas.
CEO Shashank Shekhar sees Austin as a high-growth market. He pointed out that the city draws a steady flow of skilled workers from other states thanks to its tech jobs. With average unemployment of just 3.8% and home values projected to rise 12.8% over five years, he said, Austin suits young people buying their first home.
Donna Bhavsar will run the Austin expansion. She spent the last 20 years in a range of professional roles at Fortune 50 companies, plus three years in real estate. Her aim is to help people and families gain more financial freedom by owning a home, and then to stay on as their trusted advisor for the long run.
In the San Francisco Bay Area, Arcus has become a go-to lender for first-time buyers. The company credits modern technology, competitive rates and award-winning know-how for that. Because Austin buyers look much like those in Silicon Valley, Arcus expects to repeat that success in Texas.
The lender also has strong reviews on Yelp, Google, Facebook, Zillow and TrustPilot. It intends to bring the same service to Austin borrowers, whether they plan to buy or to refinance. Its full product range will be offered there: Conventional, FHA, VA and Jumbo loans. For well-qualified borrowers, Arcus focuses on low down payment loans that carry no mortgage insurance.
Arcus made the Inc. 500 list of America’s fastest-growing private companies with growth of 987%. On that same list it ranked as the third fastest-growing mortgage company in the country. The firm is based in San Jose, California, and holds mortgage licenses in 14 states.
