First Crypto-Backed Conventional Mortgage Issued in Michigan
On June 4, 2026, Better and Coinbase issued the first cryptocurrency-backed conventional mortgage, backed by Fannie Mae, to a Michigan couple. The borrowers used Bitcoin as collateral for their down payment without selling the asset, avoiding capital gains taxes and margin call risks. The fully digital process involves a standard Fannie Mae loan and a separate crypto-backed lien. The product, initially supporting Bitcoin and USDC, is expected to expand nationwide, marking a milestone in integrating digital assets into traditional finance.
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Michigan couple uses Bitcoin as collateral for first Fannie Mae-backed crypto mortgage
A Michigan couple in their early 30s, Joe and Amy, may be the first to use Bitcoin as collateral for a standard US mortgage without selling their coins. The lender, Better Home & Finance, launched the crypto-backed mortgage in collaboration with Coinbase. The product is the first of its kind backed by Fannie Mae. Borrowers take out a conventional mortgage plus a second loan secured by Bitcoin or USD Coin to fund the down payment. If borrowers are delinquent for 60 days, crypto assets are liquidated; after 180 days, foreclosure may begin. Critics like law professor Hilary Allen warn of significant risks. Only 9% of Americans held any cryptocurrency in 2025, according to the Federal Reserve.
Yahoo FinanceCoinbase and Better Close First Bitcoin-Backed Fannie Mae Mortgage
Coinbase and Better have closed the first Fannie Mae-backed home loan using Bitcoin as collateral, a transaction completed by a Michigan couple. The product allows borrowers to pledge Bitcoin against a down payment instead of selling the asset, preserving exposure and avoiding an immediate taxable event. The crypto-backed loan is layered alongside a standard Fannie Mae mortgage, with a second lien on the home. Better says ordinary market swings will not trigger margin calls, though pledged crypto may be liquidated after 60 days of payment delinquency. The launch was enabled by a policy shift at the Federal Housing Finance Agency under director Bill Pulte, directing Fannie Mae and Freddie Mac to account for certain crypto holdings on centralized exchanges. The product initially supports Bitcoin and Circle's USDC, and is expected to become available to qualified borrowers nationwide in summer 2026. Coinbase shares traded at $163.23 at the time of reporting.
Yahoo FinanceCoinbase and Better Close First Bitcoin-Backed Fannie Mae Mortgage
Coinbase and Better have closed the first Fannie Mae-backed home loan using Bitcoin as collateral, a transaction completed by a Michigan couple. The product allows borrowers to pledge Bitcoin against a down payment instead of selling it, preserving crypto exposure and avoiding immediate taxable events. The loan is a standard Fannie Mae mortgage with a separate crypto-backed loan layered alongside it. Better says ordinary market swings won't trigger margin calls, but pledged crypto may be liquidated after 60 days of payment delinquency. The launch was enabled by a policy shift at the Federal Housing Finance Agency under director Bill Pulte, directing Fannie Mae and Freddie Mac to account for certain crypto holdings on centralized exchanges. The product initially supports Bitcoin and USDC, and is expected to become available to qualified borrowers nationwide in summer 2026.
Yahoo FinanceFannie Mae-Backed Bitcoin Home Mortgages Are Finally Here, Coinbase Says
Coinbase announced on June 4, 2026, that the first government-guaranteed mortgage secured by Bitcoin has been closed by a Michigan couple, Joe and Amy, in partnership with mortgage lender Better. The loan is backed by Fannie Mae, following a policy shift ordered by Federal Housing Finance Agency Director Bill Pulte to align with President Trump's vision of making the U.S. the 'crypto capital of the world.' Borrowers can pledge Bitcoin as collateral for a down payment without selling their crypto, avoiding capital gains taxes and retaining upside potential. The product involves two loans: a standard Fannie Mae mortgage and a second lien tied to crypto. Price volatility does not trigger liquidations, though after 60 days of payment delinquency, pledged crypto may be liquidated. The offering initially supports Bitcoin and Circle's USDC stablecoin, with national rollout expected in coming months.
Yahoo FinanceFannie Mae-Backed Bitcoin Home Mortgages Are Finally Here, Coinbase Says
Coinbase announced on June 4, 2026, that the first government-guaranteed mortgage secured by Bitcoin has been closed by a Michigan couple, Joe and Amy, in partnership with mortgage lender Better. The loan is backed by Fannie Mae, allowing borrowers to pledge Bitcoin as collateral for a down payment without selling their crypto, thus avoiding capital gains taxes and retaining upside potential. The product, initially supporting Circle's USDC stablecoin, will roll out to qualified borrowers nationwide in coming months. It involves two loans: a standard Fannie Mae-compliant mortgage and a second lien tied to crypto. Price volatility does not trigger liquidations, though after 60 days of payment delinquency, pledged crypto may be liquidated. This development follows a directive from FHFA Director Bill Pulte to align with President Trump's vision of making the U.S. the 'crypto capital of the world.'
Yahoo FinanceBetter and Coinbase Issue First Crypto-Backed Conventional Mortgage
Better and Coinbase have issued the first cryptocurrency-backed conventional mortgage to a couple in Ann Arbor, Michigan, in June 2026. The loan, backed by Fannie Mae, allows borrowers to use bitcoin as collateral for a down payment without selling their crypto assets. The couple, Joe and Amy, avoided capital gains taxes and margin call risks by using this new product. Better CEO Vishal Garg sees this as a generational shift toward tokenized asset loans, while Coinbase's Roy Zhang highlights the fully digital process. The mortgage is expected to expand to other digital assets like tokenized stocks.
Yahoo FinanceBetter and Coinbase Issue First Crypto-Backed Conventional Mortgage
Better and Coinbase have issued the first cryptocurrency-backed conventional mortgage, backed by Fannie Mae, to a couple in Ann Arbor, Michigan. The borrowers used bitcoin as collateral for their down payment without selling the asset, avoiding capital gains taxes and margin call risks. The mortgage process is fully digital, with borrowers' bitcoin held in a custodial wallet. Better CEO Vishal Garg sees this as a generational shift toward tokenized asset loans, noting that American households now hold $35 trillion in stocks, bonds, and digital assets versus only $5 trillion in bank deposits. The product is expected to expand to other digital assets like tokenized stocks. Fannie Mae's backing makes this a standard conforming loan, marking a significant step in integrating digital assets into the traditional financial system.
Yahoo FinanceBetter and Coinbase issue the first crypto-backed conventional mortgage
On June 4, 2026, Better and Coinbase announced the issuance of the first cryptocurrency-backed conventional mortgage, backed by Fannie Mae, to a couple in Ann Arbor, Michigan. The borrowers, Joe and Amy, used bitcoin as collateral for their down payment without selling their holdings, avoiding capital gains taxes and margin call risks. The mortgage is fully digital, with bitcoin held in a custodial wallet. Better CEO Vishal Garg called it a generational step toward tokenized asset loans, predicting expansion into other digital assets like tokenized stocks. Coinbase's Roy Zhang highlighted the seamless digital process. The product represents a milestone in integrating cryptocurrency into traditional real estate finance.
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