Milo closes $10 million in crypto mortgages

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Fintech Milo announced it has closed a record $10 million in crypto mortgages, a product it launched only this past April. The 30-year mortgage offering makes it easy for crypto investors to use their digital assets to purchase real estate in the United States.

Milo became the first to offer a mortgage that allows investors to qualify with Bitcoin, Ethereum, and USDC. To purchase property, clients can pledge their crypto with regulated and insured custodians (Gemini and Coinbase) and finance up to 100% of their purchase with no down payment required. Those who qualify can take advantage of low interest rates and a 30-year crypto mortgage up to $5 million, the company said in its press release.

“The success of our crypto mortgage over the past few months serves as a testament to our ability to pioneer and create a unique solution for the crypto community,” said Josip Rupena, founder and CEO of Milo. In today’s volatile environment, our crypto mortgage is an excellent solution for clients who wish to continue to own crypto and invest in real estate, all while keeping the potential price appreciation of both.”

Rupena said Milo has not had any margin calls or negative counterparty exposure since the launch of the product. Since April, Milo has also provided thousands of borrowers with crypto mortgage pre-qualifications, designed to preemptively let borrowers know how much they can afford. The company’s other mortgage solution for US and foreign nationals has already originated over $100 million in loans and has seen applicants from over 90 countries.

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