NEW YORK – Better Home & Finance Company (NASDAQ:BETR) announced Wednesday the launch of the Better Home Equity Card, a prepaid debit card that allows homeowners to access funds from their home equity lines of credit.
The card, built on Stripe’s financial infrastructure and unveiled at Stripe Sessions 2026, connects to Better’s secured HELOC product. Approved funds are placed into a dedicated financial account and made accessible through the prepaid debit card. The card offers 1% cashback on eligible purchases, according to a company press release.
The product addresses a market where U.S. homeowners hold $21.4 trillion in tappable home equity, with more than 85 million consumers having a median of $276,000 in available capital. Non-mortgage debt has reached $857 billion, with the average homeowner carrying $8,900 in such debt and approximately 24 million homeowners carrying more than $10,000 in non-mortgage debt.Better’s aggressive expansion comes as the company posted revenue of $165 million in the last twelve months with 52% growth, though it remains unprofitable with a loss per share of $10.80. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value estimate, placing it among companies on the most overvalued list. InvestingPro Tips highlight that analysts do not anticipate profitability this year and note the company is quickly burning through cash—two of 14 exclusive tips available to subscribers.
“Homeowners are sitting on $21.4 trillion in equity and reaching for a credit card to pay for a kitchen renovation or backyard upgrade because the tools to access their equity haven’t evolved,” said Vishal Garg, CEO and Founder of Better.
The card differs from traditional credit cards by drawing from a secured HELOC rather than an unsecured revolving balance. Stripe’s infrastructure powers card issuing, account management, and compliance functions.
Better plans to offer the card to all approved HELOC customers beginning in Summer 2026. The prepaid debit cards are issued by Cross River Bank, Member FDIC. Better Mortgage Corporation partners with Stripe Payments Company for money transmission services, with funds held at Fifth Third Bank N.A., Member FDIC.
Better has funded more than $110 billion in loan volume and operates in all 50 U.S. states and the United Kingdom. For investors seeking deeper insights, Better is one of 1,400+ US equities covered by comprehensive Pro Research Reports, which transform complex Wall Street data into clear, actionable intelligence through intuitive visuals and expert analysis.
In other recent news, Better Home & Finance Holding Company reported a preliminary funded loan volume of $1.64 billion for the first quarter of 2026, surpassing its prior guidance range of $1.40 billion to $1.55 billion. The company noted an 89% increase in loan volume year-over-year, with March alone accounting for $671 million. Additionally, Better Home & Finance announced the pricing of an underwritten public offering of 1,875,000 shares of Class A Common Stock, expected to generate approximately $60 million in gross proceeds. The shares were priced at $32 each, with an option for underwriters to purchase additional shares to cover over-allotments.
In related developments, Better Home & Finance doubled its warehouse credit facility to $350 million in partnership with a global banking institution, raising its total warehouse capacity to $750 million. This move is aimed at supporting anticipated origination growth. On the analyst front, Cantor Fitzgerald reiterated an Overweight rating on the company with a $40.00 price target, highlighting Better Home’s strong partnership pipeline. The firm specifically mentioned NEO Home Loans as a successful proof-of-concept for this model. These recent developments reflect ongoing strategic efforts and market activities by Better Home & Finance.
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