- A fintech company named Milo is introducing what’s billed as the world’s first crypto mortgage.
- It says its 30-year, low-interest rate US crypto mortgage allows qualified borrowers to hold their bitcoin and buy real estate.
- Loans have been granted in an early-access stage, with the product expected to be available to most applicants early this year.
A financial tech company is rolling out what it calls the world’s first crypto mortgage through which borrowers obtain bitcoin-backed loans to buy real estate — combining the relatively new asset with one of the most established avenues of building wealth in America.
The company, Milo, said its 30-year, low-interest rate US crypto mortgage will allow potential borrowers to pledge their bitcoin to purchase property and qualify in financing 100% of the purchase with no dollar down payments required. Loans have been granted in an early-access stage, with the product slated to be available to most applicants in early 2022.