Better Mortgage Opens Token-Backed Loans to Coinbase Users

TLDR

• Better Mortgage and Coinbase have expanded crypto-backed home financing to eligible Coinbase One members.
• Borrowers can pledge Bitcoin or USDC as collateral without selling their crypto holdings.
• Eligible customers can receive a lender credit equal to 1% of the mortgage value, capped at $10,000.
• The credit can apply to standard mortgages, refinances and home equity lines of credit.
• The program’s waitlist represented more than $260 million in projected loan volume before the wider launch.
• Better Mortgage said 41% of pre-approved customers meet income and credit standards but lack enough cash for a traditional down payment.

Better Mortgage and Coinbase have expanded their crypto-backed home financing program to Coinbase One members, giving eligible borrowers another way to use digital assets during the mortgage process. The offer became generally available on August 12 and allows approved customers to pledge crypto as collateral without selling their holdings.

Coinbase One Members Gain Mortgage Access

The companies first announced the token-backed mortgage in March. Better Mortgage structures the first lien as a standard conforming mortgage under Fannie Mae guidelines, while the collateral feature supports borrowers whose wealth includes crypto assets.

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