Better and Coinbase launch Bitcoin-backed mortgage product
Better Home & Finance and Coinbase launched a Bitcoin-backed mortgage product on 26 March 2026. Borrowers pledge Bitcoin or USDC as collateral instead of a cash down payment, without selling their crypto.
Better and Coinbase launch Bitcoin mortgage product
Better Home & Finance and Coinbase, a US cryptocurrency exchange, launched a mortgage product on 26 March 2026. The product lets borrowers pledge Bitcoin or USDC — a US dollar-pegged digital currency called a stablecoin — as collateral to cover a down payment. Borrowers do not sell their crypto to access the funds.
How the collateral structure works
Bitcoin collateral must equal at least 250% of the loan amount. For USDC collateral, the minimum is 125% of the loan amount. A borrower using Bitcoin to secure a $100,000 loan must pledge Bitcoin worth at least $250,000. The loan qualifies under Fannie Mae conforming standards, meaning it meets rules set by the US government-backed mortgage agency.
No price-triggered liquidation for borrowers
If the value of the pledged Bitcoin falls after the loan closes, the borrower does not face a margin call. A margin call is a demand to add more collateral when an asset's price drops. The mortgage terms remain unchanged regardless of crypto price movements. Liquidation of the collateral only occurs if the borrower is 60 days delinquent on payments, which mirrors standard conforming mortgage rules.
"Today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage.", 25 June 2025. — William Pulte, Director, FHFA (Federal Housing Finance Agency)
Federal regulator directive enabled the product
The Federal Housing Finance Agency (FHFA) is the US regulator that oversees Fannie Mae and Freddie Mac. In June 2025, FHFA Director Bill Pulte directed both agencies to prepare to count crypto as an asset on mortgage applications. That directive created the regulatory basis for a Fannie Mae-eligible crypto-backed loan. The Wall Street Journal and Bloomberg independently confirmed the order.
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