Coinbase and Better Launch Crypto-Backed Conforming Mortgages Backed by Fannie Mae

Coinbase announced on March 26, 2026 that it is powering a new crypto-backed mortgage from Better, a US mortgage lender. Coinbase calls it the first crypto-backed conforming mortgage, meaning it has the same Fannie Mae backing as other conforming home loans.

How it works

Instead of paying the down payment in cash, borrowers pledge bitcoin held in their Coinbase accounts. At closing they take out two loans:

A standard Fannie Mae mortgage on the home

A second loan that covers the cash down payment, secured by the pledged crypto

Both loans have the same interest rate and amortization term, so borrowers manage them as one. Better originates and services the loans.

Why Coinbase says it matters

Coinbase argues that many Americans hold a large share of their wealth in crypto but cannot use it in mortgage underwriting without selling it first. Selling can trigger capital gains tax and means giving up future gains. Pledging the crypto instead lets holders keep their position while buying a home. Coinbase cited data showing the median age of first-time US homebuyers had risen to 40.

Coinbase One members approved for a Better loan can get up to $10,000 in closing cost credits.

Risks

Pledged crypto is collateral. If the price of bitcoin falls sharply, the lender's terms may require more collateral or allow the pledged assets to be sold. Borrowers should read Better's loan terms on margin calls and liquidation before using this option.