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Better Mortgage launches in Texas

Online mortgage lender adds Texas as 14th market

Consumers in the Lone Star State can now turn to online lender Better Mortgage for their mortgage needs.

Better Mortgage, which launched in 2016, is now available in Texas.

The company expanded its base in 2017, most recently expanding to Florida in August. Texas is the company’s 14th market.

Better Mortgage is also licensed in Arizona, California, Colorado, Connecticut, Georgia, Illinois, North Carolina, New Jersey, Oregon, Pennsylvania, Washington, and Washington, D.C.

According to Better CEO Vishal Garg, adding Texas into the fold is a big move for the company.

“Bringing Better to Texas is a huge opportunity for us, but more importantly, its an opportunity for homeowners, or would-be homeowners, too,” Garg said.

“In markets like Austin and San Antonio where the housing market has been particularly hot, customers need more affordable financing options or risk spending more time throwing their money away on ballooning rents,” Garg added. “With the recent launch of the Better Offer, we’re empowering Texas homebuyers with more purchase certainty. We’re already helping customers win in similar markets such as Seattle and Denver.”

Earlier last year, Better Mortgage announced that it raised $15 million and planned to use the money to launch and expand Better’s home purchase finance product on the company’s website, Better.com.

Initially, the company focused on the refinance market, but now the company also offers purchase mortgages.

The company is backed by Goldman Sachs, which invested in Better Mortgage on two separate occasions.

Goldman Sachs took part in Better Mortgage’s $15 million capital raise last year, and previously invested $30 million in the company, which was the first investment in a mortgage bank by a major Wall Street firm in almost 10 years.

Better Mortgage is also backed by Kleiner Perkins and Pine Brook.

And now that the company is operating in Texas, Better Mortgage says that it expects to continue expanding throughout 2018 as well.

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