‍#创作者冲榜

Buying a house with Bitcoin, approved by the U.S. government!

The largest mortgage finance giant in the U.S., Fannie Mae, known for its role in the subprime crisis, is about to accept cryptocurrency-backed loans. This marks a milestone for digital assets entering the traditional U.S. financial sector.

Last Thursday, mortgage company Better Home & Finance and U.S. cryptocurrency exchange Cbase Global announced the launch of a new mortgage product. When obtaining a Fannie Mae-backed mortgage, this product allows homebuyers to pledge their cryptocurrencies as collateral without selling their crypto assets to make a cash down payment.

👉 This is not the first crypto-backed mortgage, but Fannie Mae's involvement makes it particularly significant.

Fannie Mae is the largest mortgage finance company in the U.S., and this will help make such products more mainstream.

Fannie Mae is federally supported and regulated by the Federal Housing Finance Agency.

Fannie Mae's assets amount to $4.1 trillion.

Approximately 52 million Americans hold crypto assets.

👉 Wide range of use cases

When buying a home, buyers are starting to use their cryptocurrency assets. A Redfin survey in 2025 found that nearly 13% of millennial and Generation Z homebuyers sold their crypto assets to cover their down payments.

The purpose of this product is to meet the needs of potential homebuyers who prefer not to use their savings for a down payment or sell their crypto assets to avoid capital gains taxes and to continue holding shares in the crypto market.

Here's how the product works: Borrowers need to have a Cbase account and apply for two loans through Better—one standard mortgage and a second loan collateralized by crypto assets, used to pay the down payment on the first. Both loans are held by Better, and borrowers only make a single monthly payment. The downside of this model is that borrowers must pay interest on both loans, increasing overall costs.

Vishal Garg, CEO of Better, said that once crypto assets are pledged for the down payment, homeowners cannot trade these assets. If the value of the crypto in the account drops, as long as the homeowner continues to make monthly payments, the mortgage remains unaffected.

👉 Biggest innovation: No margin calls, no additional collateral

This is the fundamental difference from traditional crypto lending:

❌ Traditional model (like DeFi / CeFi)

BTC drops → Add collateral

No addition → Forced liquidation

✅ New mortgage model

Even if Bitcoin drops: no additional collateral, no forced liquidation, mortgage terms remain unchanged

The only situation that triggers liquidation: overdue payments exceeding 60 days

Essentially: from “trading logic” → “credit logic”

👉 Significant for Bitcoin

1. Connecting “on-chain wealth” → “real-world assets”

Past: Crypto assets ≠ bank-recognized assets

Buying a house required: sell coins → pay taxes → lose position

Now: direct collateralization without exiting the market

2. Reinforcing Bitcoin’s financial attributes

Bitcoin is shifting from: speculative asset → collateral asset / gold-like asset

Crypto assets entering the “real demand era”

Past growth logic: narrative, sentiment, speculation

Future: driven by use cases (buying homes, financing, collateral)

3. An important step for Bitcoin entering traditional financial markets

Bitcoin has completed its transition from a speculative asset to a collateral asset. Through linking with the real estate market, cryptocurrencies have gained a “passport” to enter mainstream finance.