Better Home & Finance Reports Impressive Growth in Q1 2025

May 13, 2025 - 17:23

Better Home & Finance has announced its financial results for the first quarter of 2025, showcasing significant growth in its operations. The company reported a funded loan volume of $868 million, marking a remarkable 31% increase compared to the same period last year. Revenue for the quarter reached $33 million, a substantial rise from $22 million in Q1 2024.

Despite the positive growth in revenue and loan volume, the company faced a net loss of $51 million, with an Adjusted EBITDA loss of $40 million. A breakdown of the loan volume reveals that purchase loans accounted for 67% ($578 million), home equity lines of credit (HELOC) made up 18% ($157 million), and refinancing constituted 15% ($133 million) of the total volume.

The direct-to-consumer (D2C) loan volume experienced a significant surge, increasing by 71% year-over-year to reach $614 million. Additionally, the company’s NEO Powered by Better platform successfully onboarded 115 loan officers across 53 branches, contributing to $163 million in funded loan volume.

To further enhance customer experience and operational efficiency, Better continues to expand its Tinman AI platform and Betsy™, the first AI loan assistant tailored for the U.S. mortgage industry. Looking ahead, the company anticipates continued growth in loan volume and aims to improve its Adjusted EBITDA losses throughout 2025.