Overview
- Better and Coinbase announced on Thursday that they funded and closed the first U.S. Fannie Mae‑backed mortgage secured by Bitcoin for a married couple in Ann Arbor, Michigan.
- The product uses two simultaneous loans: a standard 15‑ or 30‑year Fannie Mae conforming mortgage for the house and a privately financed down‑payment loan secured by crypto held in Coinbase custody.
- Pledged assets face no margin calls and are only at risk after conventional delinquency and foreclosure timelines, with Bitcoin loans requiring 250% collateralization and USDC loans 125%.
- Better opened a waitlist ahead of a full consumer rollout planned later this summer and estimates about $250 million in initial loan volume from early demand data.
- The offering was enabled by an FHFA directive from June 2025 that cleared a regulatory path for the enterprises to accept digital assets as eligible collateral, which could let more buyers who hold wealth in crypto avoid selling and triggering capital gains.