Bitcoin-Backed Mortgages Now Available Through Better and Coinbase

Better Mortgage and Coinbase have launched a Bitcoin-backed mortgage product available to US homebuyers.

The product allows borrowers to pledge their Bitcoin as collateral for a down payment without selling it, with a minimum of $250% of the loan amount required in Bitcoin.

Bitcoin price drops will not trigger margin calls or change mortgage terms, but if borrowers fall 60 days behind on payments, Better can liquidate the pledged Bitcoin.

Coinbase One members are eligible for a lender credit equal to 1% of the mortgage value, capped at $10,000, applied toward closing costs.