3 questions about Milo’s new ‘Crypto Mortgage’ that lets you borrow against crypto to buy a home

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This post originally appeared on The Basis Point: 3 questions about Milo’s new ‘Crypto Mortgage’ that lets you borrow against crypto to buy a home

Fintech lender Milo is in the early stages of rolling out a crypto mortgage. In the launch announcement and on their site (links below), the company implies you’re borrowing against your crypto to finance up to 100% of a home purchase.

I haven’t talked to the Milo team yet but as crypto goes mainstream, firms trying to bring it into the rest of mainstream consumer finance — housing included — are worth watching.

So for now, I have 3 questions on this crypto mortgage — if anyone knows the answers (including Milo team members) please comment below or ping me directly:

1. Is this a loan that uses the homebuyer’s invested crypto as collateral, and then the homebuyer uses loan funds to buy a home on their own?

2. Or is the loan a lien that gets recorded against the property?

3. If it is a lien recorded against the property — aka a mortgage — is it a Milo balance sheet loan? Or a non-Fannie/Freddie loan backed by investors who’ve approved the use of crypto-denominated assets and loan-to-value ratios up to 100%? Or is does it somehow qualify for Fannie/Freddie guidelines?

Look forward to learning more about Milo’s crypto mortgage, and will post more details soon…


Milo Launches First U.S. Crypto Mortgage (launch announcement)

Milo Crypto Mortgage (briefing on their site)


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