Coinbase has partnered with digital mortgage lender Better to launch a compliant home mortgage product backed by crypto assets, with applications now open to Coinbase One members. Better said that among customers it has already pre-approved, about 41% meet traditional mortgage standards for income and credit but do not have enough cash for a down payment. The new offering is designed to give crypto holders another financing option when buying a home, while reducing the need to sell tokens to raise down payment funds. The announcement ties a crypto-based asset base to a regulated mortgage product and targets a specific gap identified by Better in its borrower pool. For Coinbase One members, the initial access window means the product is currently limited to that membership group.
Coinbase has partnered with digital mortgage lender Better to launch a compliant home mortgage product backed by crypto assets. Applications are now open to Coinbase One members.
Better said that among customers it has already pre-approved, about 41% meet traditional mortgage requirements on income and credit but do not have enough cash for a down payment.
The two companies said the product is meant to give users who hold crypto assets more financing options during the homebuying process and reduce the need to sell tokens to fund a down payment.
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