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Bitcoin Mortgages in U.S. Will Launch by Real Estate Fintech Milo

Bitcoin Mortgages in U.S. Will Launch by Real Estate Fintech Milo

Clients in the U.S. and other countries will soon be able to use Bitcoin as collateral for real estate investments. Real estate fintech Milo will launch the first U.S. Bitcoin mortgage offering, enabling customers to leverage their BTC holdings to purchase properties in the country.

Milo, a financial technology company that is reimagining the way global consumers access financial solutions, announced on Tuesday its new crypto mortgage. This is the world's first crypto mortgage offering that makes it easy for crypto investors to utilize their digital assets to purchase US real estate. The digital banking leader will now expand its offerings to serve the rapidly growing crypto segment.

Milo's clients will be able to pledge their Bitcoin to purchase property and finally qualify for a low-interest rate 30-year crypto mortgage. This solution will allow clients to continue to own their Bitcoin and diversify into real estate, all while keeping the potential appreciation price of both. Clients will be able to finance 100% of their purchases with no dollar down payments required and do this faster than a conventional mortgage. By combining the security of real estate with the liquidity of digital assets, Milo is able to bridge both the crypto and real world.

Milo has been developing this innovative mortgage since 2021 and expects it to be available to most applicants in early 2022. The company has a large waitlist where clients have been granted early access to qualify for loans.

"The world is changing rapidly, with how consumers make and invest their $2 trillion in crypto wealth," said Josip Rupena, CEO and Founder of Milo. "Clients expect us to come up with innovative solutions to extend credit to millions of great consumers. The existing ways for crypto consumers to access home credit has left them with unintended tax liabilities of selling for a down payment or worse the opportunity cost of seeing their crypto increase in value. There are countless stories of people buying property with bitcoin proceeds only to see it increase in value and be worth millions more."

The company's other mortgage solution for foreign nationals has originated millions of dollars in loans already and has seen applicants from over 63 countries. As a direct lender that is already licensed, audited, and insured, Milo is able to stand behind its commitment to lend to its clients.

"This is an exciting time for the crypto and mortgage industries," said Rupena. "With our new crypto mortgage, we can expand our offerings to consumers that were previously denied by other banking firms just for having crypto. We have an opportunity to make sure that doesn't happen anymore and their bitcoin wealth can now help them buy a property."

"Milo's decision to expand their financial flexibility with crypto mortgages is a groundbreaking achievement for advancing the United States' dominance in crypto. To become the Capital of Capital, Miami needs companies like Milo who are willing to innovate and ideate," said Mayor Francis Suarez.

© 2022, Eva Fox | Tesmanian. All rights reserved.

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Article edited by @SmokeyShorts, you can follow him on Twitter


About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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