Splitero Expands its Innovative Home Equity Solutions into Arizona

 Arizona homeowners now have better options to access their home equity amid actively growing real estate market

SAN DIEGO, Nov. 13, 2024 /PRNewswire/ -- Splitero, the financial technology company that provides homeowners better options to access home equity, announced today that it has expanded into Arizona. This expansion is driven by Arizona's robust home equity and housing market. Fifty percent of mortgage holders are equity-rich in Arizona, and there is a growing need for better home equity solutions. 

"Arizona is a dynamic real estate market, and homeowners need better solutions to leverage their home equity without selling or moving," said CEO and Founder Michael Gifford. "Splitero addresses this need and perfectly aligns with the financial goals of Arizona homeowners. Expanding into Arizona marks an exciting new chapter for Splitero!"

There is now a record-breaking $11.5 trillion of accessible home equity in the US. In 2024 lenders originated about 671,000 new HELOCs, totaling almost $105 billion, according to National Mortgage Professional. These traditional financial products have burdensome qualification requirements and monthly payments that are subject to interest rates. Splitero makes it easier for homeowners to access their home equity through Home Equity Investments with no income requirements to pre-qualify, no monthly payments, and no new debt.

"Over half of homeowners in Arizona are equity-rich, meaning the total outstanding loan balances on their properties are no more than half of their market value," said Gifford. "By providing homeowners with a lump-sum of cash in exchange for a share of their home's future value, Splitero enables homeowners to use their home equity to better their lives."

Splitero currently operates in California, Colorado, Oregon, Utah, Washington, and now Arizona with plans to expand into additional states in 2025. Splitero recently secured a $300 million strategic investment from funds managed by Antarctica Capital to provide even more homeowners access to their home equity.

Home Equity Investments (HEIs) allow homeowners to use their home equity to better their lives by paying off debt, renovating a home, or using their equity to achieve financial goals without selling their home or refinancing a low-interest rate mortgage. Splitero's innovative Maturity Match™ aligns homeowners' HEI term length with their remaining senior mortgage timeline so they don't have to repurchase their HEI option before paying off their mortgage. Homeowners can repurchase anytime within their term without penalty, giving them the flexibility to repurchase at their convenience.

About Splitero

Splitero is a financial technology company that provides homeowners better options to access their home equity. Founded by real estate veterans, Splitero provides a lump sum of cash in exchange for a share of the home's future value. Splitero can help homeowners in Arizona, California, Colorado, Oregon, Utah, and Washington access their equity with no additional monthly payments or new debt. For more information, visit www.splitero.com.

Media Contact:

Kirstin Robison, Senior Account Manager
Pitch Public Relations
Cell: (480)-363-5371
[email protected] 

SOURCE Splitero