Coinbase and Better Mortgage Expand Bitcoin-Backed Mortgages to US Homebuyers
Coinbase and Better Mortgage have expanded their Bitcoin-backed mortgage offering to US homebuyers, allowing borrowers to use BTC as collateral for a down payment without selling it. The product is designed to secure Fannie Mae-backed home loans, with borrowers required to pledge at least 250% of the down payment loan value in Bitcoin.
The process involves two separate loans: a Fannie Mae-backed mortgage and a down payment loan secured by Bitcoin. Borrowers can retain exposure to BTC throughout the repayment period. However, if payments fall behind for 60 days, Better may liquidate the pledged BTC.
Coinbase One members are eligible for a 1% rebate from Better, capped at $10,000, which can be used toward closing costs and fees. The offering is limited to US residents with verified Coinbase accounts, subject to standard credit and income underwriting requirements.