Key Highlights
- Better Mortgage partners with Coinbase to offer crypto-collateralized home financing for qualified Coinbase One subscribers.
- Customers can use Bitcoin or USDC as collateral while maintaining ownership of their digital assets.
- Qualified applicants receive a lender credit worth 1% of their mortgage amount, with a maximum of $10,000.
- The credit applies to new mortgages, refinancing options, and home equity lines of credit.
- Pre-launch waitlist indicated over $260 million in anticipated loan demand.
- Better Mortgage reports that 41% of qualified applicants have sufficient income and credit scores yet struggle with traditional down payment requirements.
Better Mortgage and Coinbase have launched a broader rollout of their digital asset-backed home financing initiative to Coinbase One subscribers, creating new pathways for qualified applicants to leverage cryptocurrency during the home buying process. The service went live on August 12, enabling approved applicants to use crypto as collateral while retaining ownership of their digital holdings.
Expanding Access to Coinbase One Subscribers
The partnership initially debuted in March with the introduction of token-collateralized mortgages. Better Mortgage handles the primary lien as a conventional conforming loan meeting Fannie Mae standards, while the collateral component accommodates applicants who hold substantial wealth in cryptocurrency.
Qualified Coinbase One subscribers who secure approval for Better financing gain access to a lender credit valued at 1% of their total mortgage amount. This credit maxes out at $10,000 and applies across multiple products including purchase mortgages, refinancing transactions, and home equity lines of credit.
According to Better Mortgage, this lender credit reduces closing costs and is documented on the borrower’s closing disclosure statement. Qualifying customers using partnership-eligible products benefit from reduced initial expenses.
Both companies confirmed that bitcoin and USDC qualify as acceptable collateral for down payment requirements. This arrangement permits applicants to preserve their cryptocurrency investments while leveraging them to secure home financing.
Strong Demand from Crypto Asset Holders
The expanded launch comes after a waitlist period that opened in June. Company data shows 76% of waitlist participants already held Coinbase One memberships, and 60% intended to complete a home purchase within the next six months.
The waitlist accumulated over $260 million in estimated loan volume prior to the general availability launch. Better Mortgage indicated this robust early interest validated the decision to broaden eligibility to qualified Coinbase One subscribers.
Better Mortgage has originated over $110 billion in total loan volume. Company analysis reveals that 41% of pre-qualified applicants satisfy income and creditworthiness criteria yet fall short of traditional down payment cash requirements.
Better Chief Technology Officer Ziggy Jonsson explained the collaboration seeks to expand homeownership opportunities by supporting applicants who maintain wealth in digital assets. The companies have yet to release figures on completed mortgage transactions through the expanded offering since its August debut.
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