Business soaring for mortgage company

New Albany’s Lower added 800 employees

Lower, the New Albany-based lending and financial service, is riding the crest of a booming mortgage industry.

In 2021, as mortgage lending rose to record highs, Lower roughly doubled its business while adding hundreds of workers, said CEO and co-founder Dan Snyder.

“We’re up significantly year-overyear,” Snyder said. “We hired 800 people in 2021 alone, and we really expanded our product offerings around our banking platform, insurance and real-estate, and we’ll continue to do that in 2022.”

The company started the year with another bump, when it was named the nation’s top mortgage refinance lender by the financial website Bankrate.com.

In announcing the award, Bankrate cited Lower’s “competitive pricing,” convenience and variety of financing products, including the company’s “Free Refi For Life” program, which allows Lower customers to refinance without a lender fee.

The award was a particular surprise since refinances aren’t the main business of Lower. The company, which formed in 2018 out of Homestead Financial, founded in 2014, aims to be a one-stop-shop for prospective homebuyers and homeowners.