# Coinbase Debuts First Fannie-Eligible Crypto Mortgage Product

*Author: Jack Inabinet*
*Published: Mar 26, 2026*
*Source: https://www.bankless.com/read/news/coinbase-announces-first-federa-payment-loan*

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Fannie Mae will soon accept its first ever crypto-backed home loans, the result of a collaboration between mortgage company [Better Mortgage](https://better.com/mortgage) and crypto exchange [Coinbase](https://www.coinbase.com/).

### What's the Scoop?
- **New Product: **Offered by Better Mortgage and powered by Coinbase, a new crypto-backed loan product will soon empower BTC and USDC holders to collateralize their crypto assets for a down payment loan, a second loan in addition to a home mortgage. While not the first crypto loan product, it will be the first one eligible for repurchase by Fannie Mae, a government-sponsored home loan securitizer.
- **Loan Terms:** Instead of putting down cash, borrowers can pledge crypto holdings as collateral for a separate loan that’s used to cover the down payment. This new structure will empower borrowers to purchase homes without needing to sell crypto assets to fund a downpayment. Loans require initial overcollateralization rates of 250% on BTC and 125% on USDC, but are not subject to margin call unless the borrower defaults. 
- **Bonus Rewards:** If approved for a loan by Better, Coinbase One members will be eligible for a rebate equal to 1% of the mortgage value, allowing them to apply up to a maximum of $10k as a lender credit against closing costs.
- **Asset Calculations:** Crypto asset holdings can already be used to increase eligibility for home loans. In January, Newrez – a top five mortgage lender and servicer – said it would begin [including](https://www.bankless.com/read/news/lenders-begin-recognizing-crypto-assets-in-loan-approval-process) crypto assets in wealth calculations during its home loan underwriting process.
- **Policy Push:** Last June, U.S. Director of Federal Housing William Pulte [ordered](https://www.bankless.com/read/regulator-orders-fannie-mae-freddie-mac-to-count-crypto-as-mortgage-asset) government-sponsored mortgage securitizers Fannie Mae and Freddie Mac to begin recognizing cryptocurrencies as assets in their home loan calculatios.

> Get your house and keep your crypto.Crypto-backed mortgages are here - increasing access to homeownership for millions of Americans.Buy a home without converting your portfolio by using BTC or USDC as collateral for your down payment.Offered by Better, powered by Coinbase. [pic.twitter.com/9hfL3fVty5](https://t.co/9hfL3fVty5)— Coinbase 🛡️ (@coinbase) [March 26, 2026](https://twitter.com/coinbase/status/2037146481300279410?ref_src=twsrc%5Etfw)