Better Mortgage and Coinbase announced on Wednesday that their token-backed conforming mortgage is generally available to Coinbase One members, expanding a product that allows eligible borrowers to pledge crypto as collateral in the homeownership process.
The expanded offer became available to Coinbase One members on Aug. 12, the companies said in a statement.
The companies first announced the token-backed mortgage in March, with the first lien structured as a standard conforming mortgage under Fannie Mae guidelines, they said.
According to the statement, Coinbase One members approved for eligible Better home-financing products are eligible for a lender credit equal to 1% of the mortgage value, capped at $10,000.
The credit applies to standard mortgages, home equity lines of credit and refinances.
