Better Mortgage and Coinbase have expanded their crypto-backed home financing program to eligible Coinbase One members, giving approved borrowers another way to use digital assets during the mortgage process. The offer became generally available on August 12 and allows customers to pledge crypto as collateral without selling their holdings.

That matters because the structure keeps the mortgage itself within standard conforming guidelines while adding a collateral feature for borrowers whose assets are tied up in crypto. For buyers who can qualify on income and credit but need more flexibility on how funds are sourced, the program is designed to fit into the existing home-loan process rather than replace it.

Coinbase One Members Gain Mortgage Access

The companies first announced the token-backed mortgage in March. Better Mortgage structures the first lien as a standard conforming mortgage under Fannie Mae guidelines, while the collateral feature is designed to support borrowers whose wealth includes crypto assets.

Eligible Coinbase One members approved for Better financing can receive a lender credit equal to 1% of the mortgage value, capped at $10,000. The credit can apply to mortgages, refinances, and home equity lines of credit.

Better Mortgage said the lender credit is applied toward closing costs and appears on the borrower’s closing disclosure. The benefit can reduce upfront expenses for qualifying customers using products covered by the partnership.

The companies said bitcoin and USDC can be used as collateral for the down payment. That structure allows borrowers to keep their crypto holdings while using them to support access to home financing.

Better Targets Crypto-Holding Borrowers

The wider rollout followed a waitlist opened in June. According to the companies, 76% of respondents were already Coinbase One members, while 60% planned to buy a home within six months.

Before the product became generally available, the waitlist represented more than $260 million in projected loan volume. Better Mortgage said the early response helped support the decision to expand access to eligible Coinbase One customers.

Better Mortgage has funded more than $110 billion in loans. The company said 41% of its pre-approved customers meet income and credit requirements but do not have enough cash for a traditional down payment.

Better Chief Technology Officer Ziggy Jonsson said the partnership is intended to broaden homeownership access by serving borrowers who hold wealth onchain. The companies have not disclosed how many customers have completed mortgages through the expanded program since the August launch.