Miki Adams of CBC Mortgage Agency highlights rising downpayment costs as a major hurdle for homebuyers, particularly first-timers, and stresses the importance of federal and private programs in overcoming affordability challenges.https://t.co/z3UIhaeTTI
— Mortgage Professional America Magazine (@MPAMagazineUS) April 21, 2025
“We can help that customer, borrow against their bitcoin for the downpayment so they don’t have to sell it,” Rupena said. “There’s a lot of great lenders and brokers that were able to qualify a customer for a conventional mortgage to cover 70% to 80%. They wonder how to come up with the other 20%. We can help them with that.”
Rupena notes that crypto mortgages must follow all the same regulations and guidelines as a regular mortgage, in addition to requirements they must follow in the custody of the crypto itself.
“We want to be that company that sits on the crypto lending side,” Rupena said. “Because there are things like collateral and custody and all these things that you have to monitor, which I wouldn’t expect a broker to be able to do. They can focus on what they’re good at, which is giving a mortgage. But we can help them on the other side of the transaction, which is the down payment.”
Rupena notes that customers who have amassed bitcoin likely won’t want to sell it for a downpayment, as that would subject them to capital gains tax. By using it as collateral for a loan, they won’t have to pay those taxes, and they will get to keep their bitcoin once the loan is paid off.
“A lot of these clients don’t want to sell their Bitcoin,” Rupena said. “If the value of the Bitcoin continues to appreciate, which we believe it will. If that client sells $300,000 and Bitcoin goes up three or four times, it wasn’t just $300,000. It’s now 900,000 to $1.2 million. So that down payment turns out to be incredibly costly to that client.