Does anyone know of a reputable and good bitcoin backed mortgage company? One that does mortgage rates but judges âcredit worthinessâ via proof of bitcoin?
I remember some options discussed in the past but didnât seem to save them.
Ledn or Unchained is great for generic loans but interest rates are much heavier than what youâd want with a mortgage.
I donât think they existâŚyet. But with the new rule allowing bitcoin collateral, I imagine theyâll be to market ASAP
I swear I thought I heard of one out there
Wasn't that on CNBC? Some guy talking about it?
Maybe, donât know of that segment specifically but I wouldnât be surprised
There was a guy who did an interview with brunelle but they were also over collateralized with the bitcoin. Reg mortgage doesn't require collateral.
I realize that, but it requires a credit check. I thought I had heard of one that let you segment out a balance of bitcoin and sign for its ownership, and then if you ever moved it you would have to pay a higher interest rate, but otherwise you simply needed enough allocated for backing the house. And itâs a 1:1 collateral rather than a typical 2:1 for bitcoin loans
I don't think the rule allows for Bitcoin collateral. It allows banks to assess the holdings to determine credit worthiness. (Same as showing them your stock portfolio) It's voluntary but can help you get a better rate.
The house will still be the collateral and they'll still want to see income to know you can make payments.
I'm excited for The People's Reserve to launch.
Too bad they designed it with a shitcoin
Did they? Hadn't seen that part yet. I'll have to look into them some more.
They call it a "loyalty token" https://tokensale.peoplesreserve.com/loyalty-level-benefits
Battery financed
I don't know if that's what you're asking, debifi and firefish
Bitcoin as collateral will not roll in traditional mortgages I would expect ever. Traditional mortgages use the house as collateral & nothing more. When they do allow Bitcoin in the equation (it hasnât rolled yet) thereâs 2 possible scenarios that it could be considered as. Income - which would be that you could consider a percentage of your holdings as monthly income & assets which you could use as reserves only. In both scenarios it will need to be in a wallet that has monthly statements & account numbers. Itâs not going to be as exciting as it was made out to be.
I know you didnt ask but - Interest rates for anything Bitcoin backed are absurd and volatility means you can end up having to store a crazy amount as collateral. Would not recommend to anyone
Not the same but I know strike is supposed to be moving into loans as well and Jack is expecting to be able to offer rates below 10%. Still 2x collateralized I think.
The People's Reserve has been talking a big game about this but I wouldn't trust them yet. https://www.peoplesreserve.com/
If you are wealthy enough to be a private banking client with a big bank they would make it work for you.
I think peoples reserve was going to do some bitcoin backed mortgages. adjustable rates with bitcoin as collateral. Not sure if itâs offered currently though
Starting with an ETH token is a deal breaker for me https://tokensale.peoplesreserve.com/
Great question, and Iâve not seen anyone that has nailed this
Keen to use when they do
I've seen one that uses Bitcoin to borrow your 20% deposit for the mortgage.
You still needed to obtain the mortgage which means proving income which is where it falls short.
Is Ledn that canadian company? I remember Stephan Livera interviewed the founder or co founder a few years ago. was an interesting conversation for that time. I havn't checked in on it lately though.
I feel like maybe I remember Ledn promised this, but tbh:
I just bought a house (at a good price w/ a fast close) by taking multiple 3 to 6-month loans on Debifi. Iâm now 5 weeks later still waiting for the dinosaur banking system to close the mortgage so I can repay those loans.
I used AI to help the search for a BTC-backed mortgage, but never found anything remotely legit.
The Debifi experience was commendable, only a little learning curve on the first loan. But rates are very high, and nothing beyond 1-yearâŚso not an actual answer to your question.
IMO, Mortgage loans based on Bitcoin are going to be a Massive win for the first legitimate company through the gate.
Banking mortgages are fucking retard-level bullshit.
At nostr:nprofile1qye8wumn8ghj7mrwvf5hguewwpshqetjwdshguewd9hj7mn0wd68ycmvd9jkuap0v9cxjtmkxyhhyetvv9uszrnhwden5te0dehhxtnvdakz7qpqr7dky4udgx664qf2rrnvpp65sp2ruq9dv9pt0pwnvlvar53ajawsryjhrg we have partners lending min $100k on:
60-70% LTV
2-3% APR
4% origination fee
12-36 months
