Better Mortgage and Coinbase (NASDAQ: $COIN) have moved their token-backed conforming mortgage into general availability, taking a product that closed its first Bitcoin-backed Fannie Mae loan in June into a broader nationwide offering for Coinbase One members.
The mortgages are originated and serviced by Better and powered by Coinbase, with the first lien structured under Fannie Mae guidelines as a standard conforming home loan. The crypto-backed portion sits alongside that mortgage, allowing qualified borrowers to pledge digital **** ets toward the down payment without first selling their holdings.
Coinbase One members approved for a Better loan can also receive a lender-funded credit equal to 1% of the mortgage value, capped at $10,000. Better said the credit now extends beyond the token-backed product to standard mortgages, home equity lines of credit and refinances.
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The mortgages are originated and serviced by Better and powered by Coinbase, with the first lien structured under Fannie Mae guidelines as a standard conforming home loan. The crypto-backed portion sits alongside that mortgage, allowing qualified borrowers to pledge digital **** ets toward the down payment without first selling their holdings.
Coinbase One members approved for a Better loan can also receive a lender-funded credit equal to 1% of the mortgage value, capped at $10,000. Better said the credit now extends beyond the token-backed product to standard mortgages, home equity lines of credit and refinances.
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7 hours ago
