Bitcoin-Backed Mortgages Are Now Available Through Better and Coinbase
TLDR
- Better Mortgage and Coinbase have launched a Bitcoin-backed mortgage product available to US homebuyers
- Borrowers pledge Bitcoin worth at least 250% of the down payment loan as collateral without selling their BTC
- Coinbase One members get a 1% lender credit up to $10,000 toward closing costs
- Bitcoin price drops alone won’t trigger margin calls, but missed payments can lead to liquidation
- The product launched to general availability on August 12, following a waitlist that showed over $260 million in projected loan volume
Better Mortgage and Coinbase have made their Bitcoin-backed mortgage product available to US homebuyers, letting borrowers use Bitcoin as collateral for a down payment without selling their holdings.
🇺🇸HUGE: Bitcoin now buys you a home with $0 cash down in America.
Coinbase and mortgage lender Better opened their Fannie Mae-backed mortgages to every qualified US buyer, letting you pledge Bitcoin for the down payment instead of selling it.
You lock up Bitcoin worth 250% of… pic.twitter.com/0aYxDQ1tX3
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