Coinbase and Better Mortgage Launch Nationwide Bitcoin-Backed Mortgages
Coinbase and Better Mortgage have partnered to offer US-wide Bitcoin and USDC-backed mortgages.
The product allows homebuyers to pledge their cryptocurrency without liquidating it or triggering capital gains taxes, providing a convenient financing option for those with digital assets.
The mortgage loan is backed by Fannie Mae and offers standard mortgage terms, including a down payment loan that's 250% of the loan amount for Bitcoin and 125% for USDC.
The interest rate on these loans is generally 0.5-1.5% higher than standard non-crypto mortgages, but they offer the advantage of instant funds source verification through Coinbase One membership.
The program was initially available to 1 million Coinbase One subscribers in August and has now expanded nationwide.