Coinbase Powers Better's New Crypto-Backed Mortgage Product

Coinbase is providing the infrastructure for Better's new crypto-backed mortgages, allowing prospective homebuyers to use Bitcoin or USDC held in their Coinbase accounts to fund their down payments. These mortgages will be originated and serviced by Better and carry the backing of Fannie Mae.

This mortgage type enables cryptocurrency holders to secure a home loan without providing the full down payment in cash and without selling their digital assets. Borrowers can pledge their crypto during underwriting, converting on-chain wealth into real-world purchasing power while maintaining their long-term investment exposure.

The crypto-backed mortgages function like traditional home loans with equivalent legal protections. The core distinction is that the down payment is sourced via a separate loan collateralized by the borrower's cryptocurrency holdings, rather than from cash savings.

At closing, borrowers obtain two loans: a standard Fannie Mae mortgage for the property and a second loan for the down payment, secured by the pledged crypto. Better's structure uniquely combines both loans under a single interest rate and amortization schedule, resulting in one consolidated monthly payment.

To qualify, applicants must have a Coinbase account holding the Bitcoin or USDC they intend to pledge as collateral for the down payment loan.