Michigan Couple Closes First Fannie Mae-Backed Bitcoin Mortgage, Pledges $250K BTC for Down Payment

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Coinbase announced that a Michigan couple recently closed the first government-backed mortgage secured by Bitcoin, partnering with lender Better. The couple pledged Bitcoin as collateral to secure a Fannie Mae-backed home loan for their down payment. Under the offering, borrowers place a second lien on their home backed by crypto holdings—for example, $250,000 in Bitcoin can secure a $100,000 down payment on a conventional mortgage. According to Better, daily market price swings do not trigger margin calls or liquidations. The product, first announced in March, is expected to expand to other qualified borrowers nationwide in coming months and will initially support Circle's USDC stablecoin as well.
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