Better Home & Finance Holding Co (NASDAQ: BETR) is a digital mortgage and homeownership company that originates purchase, refinance, and home equity loans through its proprietary technology platform. Revenue is generated primarily from gain on sale of loans and net interest income earned during the period loans are held on the balance sheet. The company operates as a non-depository lender competing in the U.S. residential mortgage market, with funded loan volume of $4.7 billion for the year ended December 31, 2025, compared to lower volume in prior periods. Total net revenues were $164.9 million for FY2025, up from $108.5 million in FY2024, driven by gain on loans of $136.1 million and net interest income of $17.4 million. Founded in 2015, the company is headquartered in New York, New York, with additional offices in Charlotte, Irvine, Troy, Irving, Gurgaon, London, and Birmingham. Loveen Advani serves as Chief Financial Officer as of the March 13, 2026 filing date. The company does not pay dividends and does not plan to for the foreseeable future.

Revenue model

Transactional revenue from gain on sale of originated mortgage loans ($136.1 million, FY2025) and net interest income earned while loans are held on the balance sheet ($17.4 million, FY2025). Other revenue of $11.3 million in FY2025 includes settlement services and lead generation fees. Revenue is highly sensitive to mortgage interest rate levels and home supply dynamics.

Products and services

Mortgage purchase loans, mortgage refinance loans, home equity products, and settlement services, all delivered through the company's proprietary digital platform called Tinman. The platform serves both direct consumers and third-party strategic partners. International lending activities are also referenced as a minor revenue component.

Customers and end markets

U.S. residential homebuyers, homeowners refinancing existing mortgages, and homeowners seeking home equity products. Third-party strategic partners also access the platform. Demand is driven by mortgage interest rate levels, home supply availability, and consumer adoption of digital loan solutions.

Value-chain role

Direct digital mortgage originator. The company handles loan application, processing, underwriting, and closing through its own platform, then sells loans generating gain-on-sale revenue. It also provides or facilitates settlement services through third-party providers.

Geographic exposure

Primarily United States. International operations include offices in Gurgaon, India, and London and Birmingham, United Kingdom, with the U.K. presence included in the company's Banking segment per the FY2025 10-K filed March 13, 2026.

Source: SEC 10-K, filed 2026-03-13

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