Better Home & Finance and Coinbase closed the first Fannie Mae-backed conventional mortgage using Bitcoin as collateral on June 4, 2026, with an Ann Arbor, Michigan couple as inaugural customers. The product requires Bitcoin collateral at roughly 2.5 to 1 ratio and combines a standard Fannie Mae conforming mortgage with a separate crypto-backed loan covering the down payment. The waitlist holds almost $250 million in projected loan volume, with nationwide rollout planned for summer 2026.
Crypto-backed mortgage structure
- ▪Bitcoin-backed loans in the Coinbase and Better mortgage product require collateral at a roughly 2.5 to 1 ratio
- ▪Both loans in the Coinbase and Better crypto mortgage share the same interest rates and amortization schedule with single monthly payments
- ▪The Coinbase and Better crypto mortgage lets qualified borrowers use Bitcoin or USDC to hedge down payments for homes instead of liquidating holdings and triggering capital gains taxes
- ▪The Coinbase and Better crypto mortgage product offers 15 and 30-year fixed-rate terms
- ▪The Coinbase and Better Home & Finance crypto mortgage comprises one standard Fannie Mae conforming mortgage plus a separate loan collateralized with crypto covering the down payment
First Michigan loan closing
- ▪Joe and Amy, a married couple in their early 30s, were the inaugural customers of the Coinbase and Better crypto mortgage
- ▪A couple in Ann Arbor, Michigan, closed on the first Fannie Mae-backed mortgage using Bitcoin as collateral on June 4, 2026
- ▪A nationwide launch of the Coinbase and Better crypto mortgage is planned for summer 2026
Fannie Mae backing significance
- ▪Mortgages backed with Fannie Mae and Freddie Mac together handled purchases worth $1.2 trillion in 2025
- ▪Coinbase and Better Home & Finance launched the first Fannie Mae-backed mortgage with Bitcoin used as collateral
- ▪Coinbase and Better Home & Finance announced the first Fannie Mae-backed crypto mortgage on June 4, 2026
- ▪The Fannie Mae backing means the Coinbase crypto mortgage structure can immediately access the existing secondary market instead of remaining a niche offering
Customer waitlist volume
- ▪The waitlist for the Coinbase and Better crypto mortgage feature holds almost $250 million in projected loan volume
- ▪63% of waitlist signups for the Coinbase and Better crypto mortgage are looking to purchase a home within six months
- ▪37% of waitlist signups for the Coinbase and Better crypto mortgage hold $500,000 or more in crypto
- ▪First-time homebuyers in the U.S. now have a median age of 40, up from 32 a decade ago
- ▪California, New York, and Florida are the locations with the highest concentration of interest in the Coinbase and Better crypto mortgage product
- ▪76% of the signups on the Coinbase and Better crypto mortgage waitlist are existing Coinbase users
Borrower collateral requirements
- ▪A borrower acquiring a $500,000 property through the Coinbase and Better crypto mortgage would need to own at least $250,000 in Bitcoin on Coinbase for a $100,000 crypto-backed down payment loan
- ▪41% of Better's pre-approved customers meet income and credit requirements but fall short on cash for an immediate payment
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