Wells Fargo To Offer Mortgage Discount on 3D-Printed Homes From Leading Builder

While 3D-printed homes built by robots might sound like something out of a sci-fi movie, they're becoming more prevalent, thanks to companies like Austin, TX-based construction technology firm Icon.

In the past, some buyers of 3D-printed homes struggled to qualify for traditional mortgage financing, as lenders questioned the durability of the technology, the homes’ long-term resale value, and whether the loans could be readily securitized.

Now, Wells Fargo has announced it will write mortgages on homes built by Icon, a leading innovator in the 3D-printed home space.

The bank will also offer buyers of Icon homes a 50 basis-point lender credit when they use its mortgage products, an Icon representative tells Realtor.com®. Icon has also selected Wells Fargo as its preferred lender for for-sale 3D-printed homes.

"This partnership with Wells Fargo is a signal for institutional confidence in alternative construction," the Icon representative says. "There is already strong demand for the homes we have built so far, and we expect this to grow as we expand beyond Texas and with other builders."

This isn't Wells Fargo's first partnership with Icon. The Wells Fargo Foundation has worked with Icon for years to help build 3D-printed homes aimed at serving underhoused communities.

Icon's track record

Since 2018, Icon has built over 250 homes and structures—including houses in the Lennar-partnership community Wolf Ranch, located 30 miles north of downtown Austin in Georgetown, TX.

Wolf Ranch, which was completed last year, is the largest-scale development of 3D-printed homes in the world.

Wolf Ranch resident Lawrence Nourzad previously told Realtor.com: "It's really exciting to be at the forefront of the change, the revolution, and we see our neighbors going viral on TikTok just shooting a little content of their homes. The world is so curious about these changes that are coming, and we feel lucky and very stimulated to be the lab rats in a way.”

Wolf Ranch homes are currently selling for $469,990 to $578,990.

Cost savings are a major advantage of 3D-printed construction technology. According to an Icon representative, the company’s wall systems cost less to build than those constructed using traditional methods.

“Our construction costs for a home’s wall system are lower than those of traditional wall systems,” the representative says. “The process is also more efficient, saving time, materials, and labor.”

How Icon 3D-prints homes

Using a nozzle mounted between two gantries, a home-sized robotic printer known as the Vulcan prints interior and exterior walls by layering specialized concrete. The concrete is mixed on-site and delivered to the printer through another automated system called Magma.

Software guides the process, allowing operators to upload a home’s floor plan and automate the printing sequence.

In fair weather, the system can operate around the clock, printing a 2,500-square-foot home in less than seven days with only three technicians.

The Icon rep says its newest robotic system, Titan—a next-generation multistory construction—was introduced in March and will be sold to other builders and developers.

"Titan has been engineered to enable builders to deliver multistory wall systems for roughly $20 per square foot—a potential 40% reduction compared to the national industry-reported averages for conventional wall systems," the Icon representative says.

Icon is now selling the Titan 3D printers for $899,000, according to an Icon representative, who says Wells Fargo will offer financing to builders interested in buying the printers.

“After nearly a decade of research, development, and field operations, we believe it’s time to put these technologies directly into the hands of other builders," says Jason Ballard, co-founder and CEO of Icon. "The Titan program is for builders who want to deliver higher-quality homes at faster speeds and with lower costs. These are tools for builders who are tired of the status quo and want to be part of the solution.”

There is a large reservation list expressing interest already, according to an Icon representative, suggesting that the curious robotic arms may become a more familiar sight in the coming years.