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2 clusters · 19 sources · 3 days · First seen · Last updated

Coinbase and Better Bitcoin-backed mortgage launch

Overview

Coinbase and Better Mortgage have introduced a Bitcoin-backed mortgage product in the United States. The program allows homebuyers to use Bitcoin as collateral for a down payment through a dual-loan structure. This involves a standard first-lien mortgage that adheres to Fannie Mae conforming guidelines, paired with a separate loan for the down payment secured by Bitcoin.

To participate, borrowers must pledge Bitcoin valued at a minimum of 250% of the requested down payment loan amount. The assets are held in a custodial account managed via Coinbase Prime. While Bitcoin price volatility does not trigger margin calls or forced liquidations, the lender maintains the right to liquidate the collateral if a borrower's payments become more than 60 days delinquent.

Coinbase One members may be eligible for a lender credit of 1%, capped at $10,000, to assist with closing costs. While the current offering is limited to Bitcoin, there are indications of potential future expansion to include other assets such as Ethereum and Solana.

Entities

Fannie Mae · Coinbase · Better Mortgage · United States · Coinbase Global

Timeline

  1. 18 days ago

    [BUSINESS] 3 sources
    Coinbase and Better Mortgage launch Bitcoin-backed mortgages

    Coinbase and Better Mortgage have launched Bitcoin-backed mortgages, allowing users to use BTC as collateral for home down payments without selling their cryptocurrency.

  2. 20 days ago

    [BUSINESS] 16 sources
    Coinbase and Better launch Bitcoin-backed mortgages in US

    Coinbase and Better Mortgage have launched a Bitcoin-backed mortgage product in the US, allowing homebuyers to use BTC as collateral for down payments without selling it.

Sources

amazon.nl · ambcrypto.com · bitcoinethereumnews.com · bitnewsbot.com · bittimes.net · blockmedia.co.kr · blocktempo.com · cahighways.org · crypto.news · mycryptoparadise.com · nationalmortgageprofessional.com · neweconomy.jp · news.bitcoin.com · reversemortgagedaily.com · tekedia.com · themarketperiodical.com · therogueginger.com · tokenpost.kr · watcher.guru