Coinbase Mortgage Program Expands Nationwide for Bitcoin-Backed Home Loans

A new mortgage program backed by Coinbase has expanded nationwide in the US. Eligible borrowers can use their Bitcoin holdings as collateral for a home down payment, rather than selling or dipping into cash savings.

The program, developed in partnership with Better Mortgage, allows buyers to take on two loans at once: a standard conforming home loan and a separate loan secured by the pledged crypto and a second lien on the property. The crypto used as collateral must be worth at least 250% of the down payment loan amount.

The program's rules around delinquency and liquidation are designed to protect borrowers. A falling Bitcoin price alone will not trigger any action, and liquidation is only considered after 60 days of missed payments. Foreclosure on the property itself begins separately at 180 days delinquent.