Splitero expands home equity investment program to 4 more states

San Diego-based financial technology company Splitero has expanded its home equity investment offering to Idaho, Missouri, Montana and Wyoming, giving homeowners in those states another way to access equity without taking on additional monthly payments.

Splitero allows homeowners to receive cash in exchange for a share of their home's future value. The company said the option is designed for homeowners who have built substantial equity but may be reluctant or unable to use traditional financing.

"Most homeowners are equity-rich with low-interest-rate mortgages that they do not want to give up," Splitero CEO and co-founder Michael Gifford said in a statement. "We are helping homeowners use their equity to renovate their homes, prepare for retirement, start a business, cover medical bills and kids' college expenses."

U.S. homeowners collectively hold about $35 trillion in home equity, according to data from the Federal Reserve System cited by Splitero.

The company's home equity investment agreements do not require monthly payments or income qualifications, according to Splitero. Homeowners can repurchase the company's interest through a home sale, refinancing or cash settlement without a penalty.

Splitero's Maturity Match program aligns the term of its home equity investment with the homeowner's remaining primary mortgage timeline.

The company also participates in the Coalition for Home Equity Partnerships, an industry group focused on consumer protections, transparency, education and standards for home equity investment products.

With the latest expansion, Splitero is available in 17 states: Arizona, California, Florida, Idaho, Missouri, Montana, Nevada, New Jersey, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, Virginia, Washington and Wyoming.

Splitero was founded in San Diego in 2021 by real estate veterans Gifford and David Zvaifler. The company says its home equity investments allow homeowners to retain their existing mortgages and interest rates while accessing cash from their accumulated home equity.