[DigitalToday reporter Chi-gyu Hwang (황치규)] U.S. mortgage lender Rate has announced its RateFi programme recognising digital assets, Cointelegraph reported on Feb. 23 local time. The RateFi programme is designed to allow loan applicants who hold cryptocurrencies to meet underwriting standards without liquidating their assets.
The programme recognises verified crypto assets as qualifying assets for loans. Cryptocurrencies intended for down payments or closing costs must still be converted into cash. Rate evaluates crypto assets through its own assessment system that considers market price, liquidity and asset volatility, supporting the inclusion of digital assets in loan eligibility requirements.
More than 10 percent of Americans hold digital assets, but most existing mortgage programmes do not recognise cryptocurrency as collateral.
Rate said demand for crypto-based financial solutions is increasing among younger people seeking to buy homes.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr