PANews, August 26: According to The Block, Better Mortgage and Coinbase have announced that their compliant mortgage product backed by crypto assets is now fully available to Coinbase One users. The product offers a first mortgage structured to meet Fannie Mae standards, allowing borrowers to use BTC and USDC as down payment collateral without selling their holdings. Approved Coinbase One users applying for a Better mortgage, home equity line of credit, or refinance are eligible for a lender credit equal to 1% of the loan amount (capped at $10,000) to offset closing costs.
Coinbase and Better Launch Mortgage Product Accepting Crypto as Collateral
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Summary
Coinbase and Better Mortgage have launched a compliant mortgage product that accepts cryptocurrency as collateral, marking a new development in crypto news. The offering, now available to Coinbase One users, allows BTC and USDC to be used as down payment collateral without selling assets. Approved users applying for a mortgage, HELOC, or refinance can receive a 1% lender credit (up to $10,000) toward closing costs. This crypto update aligns with Fannie Mae standards and expands the utility of cryptocurrency in traditional finance.
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