Better Renews $175m Warehouse Credit Facility

Better Home & Finance Holding Company (Better) announced on Tuesday via an 8-K filing that it has amended and renewed a $175 million warehouse credit facility with a global banking institution, a move the digital mortgage lender said strengthens liquidity and improves financing terms.

The amended facility includes reduced cash deposit requirements, expanded leverage capacity and higher advance rates on certain non-government-sponsored enterprise loans, changes Better said will lower ongoing equity capital requirements.

Better also reaffirmed guidance it first disclosed in November 2025, saying it expects monthly origination volumes to exceed $1 billion by May 2026. That would represent an increase of more than 100% from the company’s average monthly origination volume of about $400 million for the quarter ended Sept. 30, 2025.

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

Rob Wilson, Better’s treasurer, said the amended facility reflects continued support from warehouse lenders as the company expands the use of its Tinman AI platform across the mortgage process.

“These enhancements materially improve equity capital efficiency by significantly reducing the required amount of equity capital for the facility,” Wilson said. “We expect this to be the first of multiple initiatives to expand warehouse capacity in a more capital-light manner, reflecting warehouse lender confidence in our underwriting discipline and the strength of the Tinman AI platform.”

Founder and CEO of Better, Vishal Garg, said the company’s recently launched partnership channels have begun generating lead flow comparable to its long-established direct-to-consumer channel.

“In less than three months since launch, our new partnership channels are already generating top-of-funnel lead flow in their respective product areas at levels comparable to our more than 10-year-old direct-to-consumer channel,” said Garg. “We remain focused on delivering an exceptional customer experience as we continue to evolve the business, driven by the rapid adoption of our Tinman AI platform through strategic partnerships.”