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Crypto
Gen Z shut out of housing market turns to bitcoin-backed loans
A claim has emerged that bitcoin is drawing attention as a new way for Gen Z to build assets as entry into the housing market becomes harder. The approach involves using bitcoin as collateral, rather than selling it, to secure loans for funds needed to buy a home. Comments cited by Bitcoin Magazine point to a shift away from home-centred wealth building as Gen Z’s share of new home purchases falls below 5 percent, though risks remain.
Crypto
U.S. homebuyers can use bitcoin as collateral for mortgage as Better, Coinbase launch product
A new mortgage product in the United States allows homebuyers to use bitcoin to fund a down payment without selling it. Better Mortgage, part of Better Home Finance, and Coinbase opened the product to retail customers. Borrowers must pledge bitcoin worth at least 250 percent of the down payment loan and repay both loans monthly. Late payments of more than 60 days can trigger liquidation of the collateral.
Crypto
Coinbase to offer token-backed home down payment loans
Coinbase will provide home down payment loans backed by bitcoin and USDC starting this summer. Cointelegraph reported that Coinbase will work with Better Home & Finance to let eligible borrowers obtain down payment funds for Fannie Mae-backed mortgages. Borrowers will pledge bitcoin or USDC as collateral. The plan was first disclosed in March. Better founder and CEO Vishal Garg said the aim is to broaden access for people who meet key requirements but cannot raise down payments because their assets are not in forms expected by the traditional financial system.
