...This expansion advances our transformative approach to more communities and deepens our commitment to helping homeowners across the U.S.
SAN DIEGO (PRWEB) October 25, 2022
Splitero, the financial technology company that provides homeowners better options to access home equity, announced today that it has expanded outside of California into Colorado and Washington. This expansion results from the strong correlation between today’s housing market and residential financial needs.
“Our expansion into Colorado and Washington marks a milestone moment for Splitero as we introduce our Home Equity Investment product into these markets,” said CEO and Co-Founder, Michael Gifford. “This expansion advances our transformative approach to more communities and deepens our commitment to helping homeowners across the U.S.”
There is currently over $27.8 trillion in U.S home equity. 110+ million residential properties have over 50% in home equity, and 31.9% of the 55.8 million mortgaged homes in the U.S have 50%+ equity. As existing home sales continue to fall and climbing interest rates trap many homeowners with low-priced mortgages, Splitero is on a much-needed mission to offer a better solution.
“Homeowners in Colorado and Washington are underserved with traditional financial products to access their home equity,” said Gifford. By providing homeowners with a lump-sum of cash in exchange for a share of their home’s appreciation, Splitero enables homeowners to use their home equity to better their lives without income or credit score requirements.
With consumers continuing to cope with inflation and rising expenses and yet experiencing record home equity, Splitero continues to serve a critical need in today’s housing market by allowing those homeowners to leverage the value of their homes without selling or moving.
Splitero currently operates in California, Colorado, and Washington, with plans to expand into additional states in 2023. Since launching in August of 2021, Splitero has secured more than $1 Billion in financing to help homeowners access their equity without new debt or monthly payments.
Splitero is a financial technology company that provides homeowners better options to access home equity. Splitero provides a lump-sum of cash in exchange for a share of the home’s appreciation. Founded by real estate veterans, Splitero has secured more than $1 billion in total financing to help homeowners in California, Colorado, and Washington access their equity. For more information, visit http://www.splitero.com.