Tradition Homes buys Mustang Lakes lots in Celina, borrows on others

Tradition Homes took title to lots in Celina’s Mustang Lakes Phase 8 subdivision from Celina 682 Partners LP, according to a deed recorded Oct. 16 with the Collin County Clerk. Five days later, the homebuilder pledged two Phase 8 parcels to Prosperity Bank as collateral on an existing line of credit.

The deed (instrument 2026000138509) covers Phase 8 lots including Lot 11, Block II; Lot 42, Block PP; Lot 6, Block NN; and Lot 30, Block BBB. The Oct. 21 deed of trust (instrument 2026000140180) pledges two parcels, including Lot 36, Block PP.

Why it matters

The Prosperity Bank filing does not create a new loan. It ties the parcels to a line-of-credit promissory note dated Aug. 6, 2025. That points to a standing facility that takes on new lots as collateral, rather than a loan sized to these parcels. For lot sellers, lenders and trades in the Celina corridor, the filings show Tradition Homes still adding Mustang Lakes inventory, with bank capacity behind it.

The numbers

Texas deeds carry no sale price, so the purchase amount is not on the record. The 2025 note named in the Oct. 21 deed of trust has a maximum principal amount of $25.0M. That is the facility’s ceiling, not the amount drawn, and the filing does not show how much of it these two parcels back. A separate deed of trust recorded Oct. 8 pledges two other Phase 8 parcels, including Lot 9, Block II, to SouthState Bank (instrument 2026000134836). It shows no dollar figure.

What’s next

Watch Collin County filings for further Tradition Homes deeds and deeds of trust in Mustang Lakes Phase 8. Each new pledge under the 2025 note would show more of how the builder is financing its lots in the subdivision. More from Dallas-Fort Worth.