Could Bitcoin Help You Buy Your Next Home? Coinbase Thinks It's Possible.
Coinbase and Better Mortgage are offering crypto-backed mortgages.
Could Bitcoin Help You Buy Your Next Home? Coinbase Thinks It's Possible.
Overview
Coinbase (NASDAQ: COIN) and Better Mortgage (NASDAQ: BETR) announced the first Fannie Mae-backed mortgage secured by Bitcoin (CRYPTO: BTC) and USD Coin (CRYPTO: USDC) in March. Instead of using cash for a down payment, homebuyers can leverage their Bitcoin or USDC holdings to secure a mortgage.
Better claims that 41% of its pre-approved customers qualify for a mortgage based on credit and income, but lack the cash for a traditional down payment. Therefore, allowing younger homebuyers to use their digital assets as collateral could reduce that percentage.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
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