Florida, Nevada, Ohio, Pennsylvania, and South Carolina homeowners now have better options to access their home equity with no monthly payments
Splitero, the financial technology company that provides homeowners better options to access home equity, announced that it has expanded into Florida, Nevada, Ohio, Pennsylvania, and South Carolina. This expansion addresses housing markets burdened by rising living costs and inventory shortages, offering a timely solution as many homeowners are locked into mortgage rates and in need of a pathway to home equity.
“Homeowners are seeking smarter ways to access their home equity without additional debt, selling or refinancing their homes,” said Michael Gifford, CEO and Founder of Splitero. “We are happy to support families in reaching their financial goals.”
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Available home equity has reached record highs, with almost $11.5 trillion total available to US homeowners. Splitero provides homeowners with access to their equity with no income requirements to pre-qualify and no monthly payments along the way. While lenders have originated about 671,000 new HELOCs, these traditional financial products have burdensome qualification requirements and monthly payments subject to high interest rates.
“Many homeowners in Florida, Nevada, Ohio, Pennsylvania, and South Carolina are equity-rich, meaning they have outstanding loan balances amounting to less than half their property’s market value,” said Michael Gifford, CEO of Splitero. “Splitero offers homeowners a powerful opportunity to access their equity and use it to enhance their lives without taking on additional debt, especially as consumer debt reaches all-time highs and the cost of living continues to climb.”
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Splitero 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.
Splitero operates in Arizona, California, Colorado, Florida, Nevada, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, Virginia, and Washington and plans to expand into additional states throughout 2025. Splitero recently secured a $300 million strategic investment from funds managed by Antarctica Capital and a $350 million capital commitment from Blue Owl-managed funds to provide more homeowners with access to their home equity.
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Source – PR Newswire
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