Opendoor launches full mortgage menu
Opendoor Home Loans has exited beta and is now offering a full suite of fixed- and adjustable-rate mortgages to buyers in its licensed markets, touting a
Opendoor Home Loans has fully launched its mortgage offerings, providing a range of fixed- and adjustable-rate loans to buyers in markets where the company is licensed. The San Francisco-based real estate firm announced the move on Friday, stating the products are available for any home purchase in those markets, not only transactions involving Opendoor-owned homes.
The launch arrives as borrowing costs remain raise. HousingWire's Mortgage Rates Center recently showed an average rate of 7.01% for a 30-year conventional fixed-rate loan.
Available mortgage products
Opendoor's mortgage unit now provides several loan options. The company says it offers fixed-rate loans with terms of 30, 20, and 15 years. It also offers adjustable-rate mortgages (ARMs) with initial fixed periods of 5, 7, and 10 years, which then adjust every six months.
| Loan Type | Terms Offered |
|---|---|
| Fixed-Rate | 30-year, 20-year, 15-year |
| Adjustable-Rate (ARM) | 5/6 ARM, 7/6 ARM, 10/6 ARM |
This marks a formal return to home financing for Opendoor, which first launched Opendoor Home Loans in 2019 before shutting it down in 2022 due to higher interest rates. The company began a limited relaunch with a new mortgage product for a select group of users in February.
The promise of lower costs
Company leadership has sparked industry debate by promising below-market interest rates. In March, Opendoor executives stated on social media that the company had locked a mortgage at 4.99%, attributing the low rate to the removal of its markup. This has led to questions about who absorbs the cost and whether such a model can be sustained long-term.
Opendoor CEO Kaz Nejatian framed the offering as a solution to a fragmented process. "Buying a home is two things: the home and the money," Nejatian said. "They're handled by separate systems, with separate incentives and too much avoidable cost."
The company claims its digital process allows buyers to get prequalified in minutes without a hard credit inquiry. It also promises a fully digital application with online income and asset verification, along with online document uploads and fewer handoffs throughout the closing process.
Broader industry context and financials
Opendoor's move is part of a wider trend where real estate platforms and large brokerages are expanding into mortgage services through joint ventures, in-house lenders, and technology partnerships. The goal for these companies is to keep more of the transaction's economics within their own ecosystem and to provide a more predictable experience for buyers and sellers.
The company's latest financial results show a shifting landscape. In the second quarter of 2026, Opendoor generated $883 million in revenue, a decline from the $1.567 billion reported during the same period in 2025. Despite this drop, the company told investors to expect at least a 20% annual increase in revenue for the full year. Opendoor also reported a net loss of $162 million for the quarter, which is larger than the $29 million net loss recorded a year ago.
