"Traditionally, they would have to sell some bitcoin for a down payment, which would, unfortunately, trigger taxable consequences. For a lot of borrowers, a big concern is that by selling, they would not benefit from the future appreciation of bitcoin. For a lot of us that have owned bitcoin for a while, we think it is going to be worth significantly more in the future."
"These borrowers generally have a hard time qualifying for mortgages not because they don't have a lot of assets, but because they may not be able to qualify conventionally because of their income, or they're self-employed, or they have a very different profile to a traditional person that has a really nice W-2 income. These are individuals who have a good net worth, but it's predominantly tied to bitcoin. So our product really helps them to solve for all those elements."
Milo enables homebuyers to use bitcoin and ethereum as collateral so they do not need to sell crypto for down payments or purchases. Clients post crypto holdings with qualified custodians Coinbase or BitGo, and Milo can finance the full transaction while the crypto remains custodied. The model prevents taxable events from sales and lets borrowers retain exposure to future appreciation. Milo targets buyers with high crypto net worth who struggle to qualify under traditional income-based underwriting, including self-employed individuals. Recent regulatory developments are shaping how Milo structures lending and custody relationships as it scales across more than $80 million in property.
Read at www.housingwire.com
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