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Milo has announced its new crypto mortgage that will give crypto investors the opportunity to utilize their digital assets to purchase U.S. real estate.
Through this new program, Milo's clients will be able to pledge their Bitcoin and cryptocurrency to purchase property and qualify for a 30-year crypto mortgage. This solution will allow clients to continue to own their Bitcoin and diversify into real estate, all while keeping the potential price appreciation of both.
Milo’s clients will be able to finance 100% of their purchase with zero dollar down payments required, boasting turn times faster than that of a conventional mortgage. By combining the security of real estate with the liquidity of digital assets, Milo’s offering seeks to bridge both the crypto world and the real world.
"The world is changing rapidly, with how consumers make and invest their $2 trillion in crypto wealth," said Josip Rupena, CEO and Founder of Milo. "Clients expect us to come up with innovative solutions to extend credit to millions of great consumers.”
Milo’s crypto offering has been in development since 2021, and is anticipated to be launched for most applicants come early 2022. The company is compiling a waitlist where clients have been granted early access to qualify for loans.
“The existing ways for crypto consumers to access home credit has left them with unintended tax liabilities of selling for a down payment, or worse, the opportunity cost of seeing their crypto increase in value,” said Rupena. “There are countless stories of people buying property with Bitcoin proceeds only to see it increase in value and be worth millions more."
Milo’s other mortgage solution for foreign nationals has originated millions of dollars in loans already, and has seen applicants from more than 63 countries.
"This is an exciting time for the crypto and mortgage industries," said Rupena. "With our new crypto mortgage, we can expand our offerings to consumers that were previously denied by other banking firms just for having crypto. We have an opportunity to make sure that doesn't happen anymore, and their Bitcoin wealth can now help them buy a property."
