Better Home & Finance Holding Co
better.comWhat Do They Do?
Sells residential mortgage and home equity loans to homebuyers and homeowners, and provides mortgage technology to lenders and other business partners.
10-K for FY2025, filed Mar 13, 2026Home Finance offers a range of residential mortgage loan products for home purchase and refinance, including cash-out refinance and debt…View ↗
We sell the mortgage loans we originate into a network of loan purchasers, including GSEs, banks, insurance companies, asset managers, and…View ↗
The Tinman AI Platform (“Tinman”) includes access to our proprietary technology in connection with mortgage origination activities…View ↗
In partner arrangements, third parties use Tinman to support their existing mortgage operations or to establish new mortgage origination…View ↗
How Do They Make Money?
It earns money mainly by originating mortgages and selling them to loan purchasers for more than the loan principal, plus fees. It also earns fees from partner loan processing, real estate referrals, insurance and settlement services, and interest while some loans await sale.
10-K for FY2025, filed Mar 13, 2026Year Ended December 31, 2025 2024 (Amounts in thousands, except percentage amounts) Amounts Percentages Amounts Percentages Gain on loans…View ↗
i.Gain on sale of loans, net—This represents the premium the Company receives in excess of the loan principal amount and certain fees…View ↗
The Tinman AI Platform (“Tinman”) includes access to our proprietary technology in connection with mortgage origination activities…View ↗
We complement our residential mortgage loan products through Better Plus, which includes a set of non-mortgage homeownership products and…View ↗
As we originate mortgages, there is a short period between the funding of a loan and its sale into our investor network. During this time…View ↗
ii.Broker Revenue—Includes fees that the Company receives for originating loans on behalf of third-parties.View ↗
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10-K for FY2025, filed Mar 13, 2026
FY2025 revenue by product or service (Other revenue) ↗
$164.9M
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10-K for FY2025, filed Mar 13, 2026
$164.9M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
International lending revenue
Sold outright
|
46% |
International lending revenue, FY2025
$5.2M Sources
|
Sold outright |
|
Insurance services
Sold outright
|
22% |
Insurance services, FY2025
$2.5M Sources
|
Sold outright |
|
Real estate services
Sold outright
|
17%
FY2022: 60%
|
Real estate services, FY2025
$1.9M Sources
|
Sold outright |
|
Other revenue
|
15% |
Other revenue, FY2025
$1.7M Sources
|
Who Are Their Customers?
Homebuyers and homeowners can apply directly through Better's website; borrowers also come through partner channels, where mortgage businesses may use Tinman or have Better originate loans. Better also connects customers to real estate, title and homeowners-insurance providers.
10-K for FY2025, filed Mar 13, 2026Under our D2C distribution channel, customers engage directly with Better through our website and complete the mortgage process under the…View ↗
In partner arrangements, third parties use Tinman to support their existing mortgage operations or to establish new mortgage origination…View ↗
The Tinman AI Platform (“Tinman”) includes access to our proprietary technology in connection with mortgage origination activities…View ↗
We complement our residential mortgage loan products through Better Plus, which includes a set of non-mortgage homeownership products and…View ↗
Do Revenues Turn Into Profits?
No. It lost $165.9M in FY2025.
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 11, 2026
−$30.6MView ↗
- ▼ −16% (Loss)
- vs −$36.3M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 11, 2026
Open tableView ↗
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Aug 6, 2026
Gave third-quarter 2026 financial guidance
Forecast total net revenue of $49.0 to $52.0 million and adjusted EBITDA of $(18.0) to $(15.0) million.
Sources
8-K, filed Aug 6, 2026
Q3 2026 Loan Volume: $1.375 to $1.525 billion. Q3 2026 Total Net Revenues: $49.0 to $52.0 million. Q3 2026 Adjusted EBITDA: $(18.0) to…View ↗
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Aug 4, 2026
Vishal Garg stepped down as CEO; Daniel Lewis became interim CEO
Sources
8-K, filed Aug 4, 2026
On August 3, 2026, Vishal Garg stepped down as the Company’s Chief Executive Officer, effective immediately. Following Mr. Garg’s…View ↗
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Jul 30, 2026
Added HELOC offerings to its Intuit Credit Karma partnership
The partner's consumer base is to receive HELOC products alongside existing refinance offerings.
Sources
8-K, filed Jul 30, 2026
On July 28, 2026, Better Home & Finance Holding Company (the “Company” or “Better”) executed an amendment to its broker agreement with…View ↗
From shell company to operating business
The older report described Aurora as a shell company pursuing a combination with Better; the latest describes a digital platform offering mortgages, home equity and other homeownership products.
10-K for FY2022, filed Apr 17, 2023 10-K for FY2025, filed Mar 13, 2026We are a technology-enabled homeownership company that offers mortgage, home equity, and other homeownership products through a digital…View ↗
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