Union Home Mortgage will acquire Amerifirst Home Mortgage, the company announced in a press release.
The acquisition will allow UHM to expand in key markets, leaders at UHM said.
Amerifirst is based in Kalamazoo, MI, and operates across the country with a special focus on Florida, Michigan, Ohio, North Carolina, and California. Both Amerifirst and UHM are leaders in USDA lending.
Amerifirst originated $2.8 billion in loans in 2021 and is ranked the number one lender in Michigan.
“We founded this company to make a meaningful difference in the lives of customers, team members, and our communities. This partnership gives us the scale and ability to make an impact like never before,” said co-founders Mark Jones and David Gahm.
The company recently announced the closing of its Portage, MI, office, resulting in 59 layoffs.
“On behalf of all our Partners, I am excited to welcome the wonderful mortgage professionals of Amerifirst to the world-class platform of growth at UHM,” said Bill Cosgrove, President and CEO of Union Home Mortgage.
“Our company lives by the mantra of ‘Promises Kept,’ which includes promises to our customers, communities, and colleague partners. Today, I am thrilled to expand the reach of that promise further.”
UHM said the combined company will have greater expertise and scale for the USDA Rural Development Single Family Housing Guaranteed Loan Program, a no-money-down product for rural areas offered by USDA.