Crypto Mortgages: A Game-Changer for American Homebuyers?

Hold onto your digital wallets, folks! The Federal Housing Finance Agency (FHFA) just dropped a bombshell that could shake up the housing market. Director Bill Pulte announced they're diving deep into whether your Bitcoin and stablecoin stashes could help you snag that dream home. Is this the dawn of a new era for lending, or just another twist in the crypto saga?

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Mortgage, Pulte, and FHFA Enter the Crypto Ring

Get ready for some major news! FHFA Director Bill Pulte took to X to announce that they're seriously looking into using your crypto holdings to qualify for mortgages. That's right, your Bitcoin and other digital assets might soon play a role in getting that sweet home loan.

The tweet on Jun. 24 sent shockwaves through the industry, hinting that the future of home loans might just be wrapped up in the world of crypto.

"We will study the usage of cryptocurrency holdings as it relates to qualifying for mortgages," Pulte declared, and the crypto community is buzzing.

Why now? Well, the housing market's been on a wild ride. As of mid-2025, 30-year fixed mortgage rates are flirting with 7%, the highest they've been since the mid-2000s. And if you thought buying a home was tough before, check this out: in May, the median price for an existing home hit a mind-blowing $422,800, a record for the month.

Home sales? They've slowed to a crawl, with May 2025 marking the weakest pace since 2009. And for first-time buyers? It's a brutal scene. Only 30% of home purchases are coming from newbies, way below the 40% considered normal for a balanced market.

Rising monthly payments and tight lending criteria are making it a nightmare for young buyers and the self-employed. But here's where it gets interesting: the FHFA is thinking about treating your crypto like your savings or investments when you apply for a mortgage.

Imagine this: you've got $200,000 in Bitcoin or Ethereum but no regular paycheck. Under a new system, that could be enough to get you a loan based on your total net worth.

Right now, most lenders give crypto the side-eye, worried about its wild price swings and the regulatory gray areas. Even the rich crypto holders often get the cold shoulder, treated like financial pariahs under current rules.

Don't get too excited just yet, though. Pulte's announcement is just the start. The FHFA's review is still in diapers, and there's a long road ahead before any new rules hit the streets.

Freddie Mac's Quiet Power Over Lender Finance Models

The FHFA might be flying under the radar, but it's the puppet master behind America's home loans. It runs the show for Fannie Mae and Freddie Mac, the big guns that back most of the country's mortgages.

It also keeps an eye on the Federal Home Loan Bank system, a network that pumps cash into housing and community development. We're talking about over $8.5 trillion in home financing here, folks.

When the FHFA sneezes, the market catches a cold. Any policy tweak they make, whether it's about credit scores, down payments, or what assets count, sends shockwaves through the banking world.

Most lenders play by the FHFA's rules to keep their loans eligible for resale to Fannie or Freddie, which helps them manage risk. The agency was born in the wake of the 2008 housing crash, with a mission to keep things tight and safe.

So, even a baby step like exploring crypto in mortgage qualifications is a big deal.

And let's talk about the man in charge, Bill Pulte. He took the reins in March 2025 during Trump's second term, after a marathon confirmation process. This guy's the grandson of William Pulte, the legend who built Pulte Homes.

Before diving into public service, Pulte was at the helm of Pulte Capital, a private investment outfit. He's also the "Twitter Philanthropist," known for his generous giveaways on X.

But here's the kicker: Pulte's got skin in the crypto game. He's got between $500,000 and $1 million in Bitcoin and Solana, plus a stake in Marathon Digital Holdings, a Bitcoin mining giant. He's even dabbled in GameStop stock.

Pulte's a different breed from the usual conservative financial types. He's been a crypto cheerleader since 2019, using his social media clout to push for adoption and friendly policies.

The FHFA's crypto review might be just a glimmer right now, but it's a sign of the times—and Pulte's priorities.

How Crypto Might Be Evaluated

Pulte's announcement has everyone wondering: how would they actually assess your crypto for a mortgage?

Right now, if you want to use your digital assets for a home loan, you've got to convert them to dollars and park them in a U.S. bank for at least 60 days to meet Fannie Mae and Freddie Mac's rules.

The FHFA's looking to shake things up, but how?

First up, asset valuation. Bitcoin and Ethereum's wild rides might make lenders nervous about accepting their full value. In traditional finance, they often apply a "haircut"—a discount—to account for price swings. Will crypto get the same treatment?

Then there's the holding history. Lenders like assets you've had for a while. If you can show a long, stable record of ownership, that's gold. But if you're flipping crypto like hotcakes, not so much.

Stablecoins like USDC and USDT are a different beast. They're designed to stay pegged to the dollar, which might make them more appealing for underwriting. But even they'll face scrutiny over their structure and transparency.

For now, mortgage gurus suggest converting your crypto to dollars well ahead of applying, to give lenders time to verify your funds and meet those seasoning rules.

Any new rules will likely keep strict documentation. You'll need a paper trail showing wallet ownership, transaction history, and proof that your funds are clean and clear. Custody verification, origin clarity, and anti-money laundering compliance will be non-negotiable.

Private Finance's Bold Moves Show Real Demand for Bitcoin Integration

While the feds are still dipping their toes in, private fintechs are already making waves with crypto mortgages.

Take Milo Credit, a Florida-based lender that launched one of the first crypto mortgage products in the U.S. in 2022. They're flipping the script: instead of selling your crypto for a down payment, you can pledge it as collateral.

This means you can finance up to 100% of your home's value without touching your digital stash. And get this: you keep ownership of your crypto, so if it moons, you reap the rewards.

Figure Technologies, a San Francisco fintech led by ex-SoFi CEO Mike Cagney, is also in the game, offering crypto-backed loans up to $20 million.

Milo's clients love it because they avoid the capital gains tax hit from selling their crypto. As of early 2025, Milo's dished out over $65 million in these loans.

But here's the catch: these private deals are outside the federal system. They can't be resold to Fannie Mae or Freddie Mac, so they miss out on the liquidity and risk-sharing of traditional loans.

That means higher interest rates and lenders holding onto the loans or finding alternative funding. It's a niche market with limits.

There's also the risk factor. Crypto-backed mortgages often need more collateral than the loan amount to buffer against volatility. But even with that cushion, a 15% price drop between approval and closing can derail a deal—and crypto's seen way worse.

If the FHFA moves forward, it could bring some much-needed order and clarity to the space. Private models have proven crypto can play a role in home financing, but it takes careful planning and understanding the risks.

Whether they embrace it, reject it, or land somewhere in between, this process will shape how crypto fits into our everyday financial lives. Buckle up, because the ride's just getting started!