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Opendoor Seeks $2 Billion Credit Facility to Boost Homebuying

  • Company doubled purchases in second-quarter, beat estimates
  • Zillow rival invented new spin on home-flipping called iBuying

Opendoor Technologies Inc., which buys homes from consumers and lists them for resale, is in talks with lenders for a new revolving credit facility of roughly $2 billion, according to people familiar with the effort.

The company, which is rapidly accelerating the number of homes it purchases, plans to use the proceeds to help increase acquisitions, said one of the people, who asked not to be named because the matter is private.