TLDR
- Better Mortgage and Coinbase have expanded crypto-backed home financing to eligible Coinbase One members.
- Borrowers can pledge Bitcoin or USDC as collateral without selling their crypto holdings.
- Eligible customers can receive a lender credit equal to 1% of the mortgage value, capped at $10,000.
- The credit can apply to standard mortgages, refinances and home equity lines of credit.
- The program’s waitlist represented more than $260 million in projected loan volume before the wider launch.
- Better Mortgage said 41% of pre-approved customers meet income and credit standards but lack enough cash for a traditional down payment.
Better Mortgage and Coinbase have expanded their crypto-backed home financing program to Coinbase One members, giving eligible borrowers another way to use digital assets during the mortgage process. The offer became generally available on August 12 and allows approved customers to pledge crypto as collateral without selling their holdings.
Coinbase One Members Gain Mortgage Access
The companies first announced the token-backed mortgage in March. Better Mortgage structures the first lien as a standard conforming mortgage under Fannie Mae guidelines, while the collateral feature supports borrowers whose wealth includes crypto assets.
Eligible Coinbase One members approved for Better financing can receive a lender credit equal to 1% of the mortgage value. The credit is capped at $10,000 and can apply to mortgages, refinances, and home equity lines of credit.
Better Mortgage said the lender credit goes toward closing costs and appears on the borrower’s closing disclosure. The benefit can lower upfront expenses for qualifying customers who use products covered by the partnership.
The companies said bitcoin and USDC can serve as collateral for the down payment. This structure allows borrowers to keep their crypto holdings while using them to support access to home financing.
Better Targets Crypto-Holding Borrowers
The wider rollout follows a waitlist opened in June. According to the companies, 76% of respondents were already Coinbase One members, while 60% planned to purchase a home within six months.
The waitlist represented more than $260 million in projected loan volume before the product became generally available. Better Mortgage said the early response helped support the decision to expand access to eligible Coinbase One customers.
Better Mortgage has funded more than $110 billion in loans. The company said 41% of its pre-approved customers meet income and credit requirements but lack enough cash for a traditional down payment.
Better Chief Technology Officer Ziggy Jonsson said the partnership aims to widen homeownership access by serving borrowers holding wealth onchain. The companies have not disclosed how many customers have completed mortgages through the expanded program since the August launch.
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