Better Mortgage renews $175 million warehouse facility with improved terms

Better Home & Finance Holding Company (NASDAQ: BETR) announced it renewed a $175 million warehouse credit facility with improved financing terms, according to a company press release.

The amended facility includes reduced cash deposit requirements, expanded leverage capacity, and higher advance rates on certain non-GSE loans. The company stated these changes will reduce ongoing equity capital requirements.

Better.com reaffirmed guidance previously disclosed in November 2025, projecting monthly origination volumes will exceed $1 billion by May 2026. This represents an increase of more than 100% compared to the company's average monthly origination volume of approximately $400 million for the quarter ended September 30, 2025.

The company also reaffirmed its expectation of achieving adjusted EBITDA profitability by the end of the third quarter of 2026.

"These enhancements materially improve equity capital efficiency by significantly reducing the required amount of equity capital for the facility," said Rob Wilson, treasurer. "We expect this to be the first of multiple initiatives to expand warehouse capacity in a more capital-light manner."

Chief Executive Vishal Garg noted that new partnership channels launched less than three months ago are generating lead flow at levels comparable to the company's direct-to-consumer channel, which has operated for more than ten years.

Better.com describes itself as an AI-native mortgage and home equity finance platform that has funded more than $100 billion in loan volume since 2016. The company operates in all 50 U.S. states and the United Kingdom.

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