Smith Douglas Homes—No. 36 on the 2024 Builder 100—announced a new joint venture with LoanDepot that will provide a streamlined financing option for its new-home buyers.
Called Ridgeland Mortgage, the venture expands LoanDepot’s footprint in the purchase mortgage market while supporting Smith Douglas Homes’ continued growth and success.
“Our partnership with LoanDepot allows us to focus on what we do best—delivering incredible value to our customers with high-quality homes at an affordable price point—while leveraging LoanDepot’s mortgage lending expertise to provide a smooth and seamless home loan process,” says Greg Bennett, CEO of Smith Douglas Homes. “Our new joint venture will draw on the core strengths of both companies—including a shared commitment to operational excellence, quality, and innovation—so we can continue to meet the expectations of our customers.”
As Ridgeland Mortgage grows, the company plans to operate in the following markets: Atlanta and central Georgia; Houston; Birmingham and Huntsville, Alabama; Charlotte and Raleigh, North Carolina; and Chattanooga and Nashville, Tennessee.
“Smith Douglas Homes’ approach to the new-construction market is perfectly aligned with LoanDepot’s commitment to serving the needs of first-time home buyers,” says Dan Peña, executive vice president of national joint ventures for LoanDepot. “Our new joint venture helps both companies make the American dream of homeownership possible for more families while providing Smith Douglas Homes with access to an unparalleled lending platform that will deliver an exceptional customer experience.”
