The short version
In June 2025, FHFA Director Pulte signed a directive ordering Fannie Mae and Freddie Mac to consider crypto as mortgage reserve assets — with no conversion to USD needed. That was a real policy shift. But as of mid-2026 public reporting, implementation is still early and unclear, and lenders decide individually. So: the door is open, but each lender walks through it differently (as of Sept 2026 — verify).
Reserves vs down payment: the distinction that matters
Lenders look at two different buckets, and crypto sits differently in each:
- Reserves — assets you hold beyond the down payment, proving you can keep paying if income dips. This is what the FHFA directive targets: crypto can be considered here without being sold for dollars first.
- Down payment — cash delivered at closing. Sellers and settlement agents still expect dollars (or local currency), so BTC used here generally has to be sold first — which is usually a taxable disposal.
Practical takeaway: holding BTC can strengthen a reserves picture, but funding the actual down payment from BTC still means selling (and likely tax). Plan the two buckets separately.
Lenders often cited
These names come up repeatedly in public reporting on crypto-friendly mortgages. Positioning is qualitative — check each lender for current terms (as of Sept 2026 — verify):
| Lender | Often cited for | Notes |
|---|---|---|
| Milo | Crypto mortgage pioneer | Built an early product letting crypto holders qualify using digital-asset holdings; availability and structure have evolved — confirm current offering. |
| Moon Mortgage | Crypto-collateral home loans | Known for letting borrowers pledge crypto while financing property; terms and eligible assets vary — ask directly. |
| Ledn | BTC-backed lending adjacency | Better known for Bitcoin-backed loans; sometimes discussed alongside mortgage strategies (e.g. bridge liquidity without selling). Not a traditional mortgage lender. |
| Figure | Fintech lender, crypto-adjacent products | Online lender with blockchain-based lending rails; crypto mortgage specifics vary — verify what they currently accept. |
Tax warning: pledging is not selling
- Pledging BTC as collateral is generally not a sale — so generally no capital-gains event at pledge time.
- Selling BTC for a down payment generally is taxable — gain or loss measured against your cost basis.
- Liquidations (forced sale of collateral after a margin call) can also be taxable disposals — another reason to keep buffers conservative.
Rules differ by country and situation. This is a principle, not advice — confirm with a tax professional before you move coins.
How to approach a lender
- Bring proof of holdings: exchange/custodian statements, wallet attestations — whatever the lender asks for, sourced cleanly.
- Ask explicitly: "Do you count crypto in reserves? Do you require it custodied a certain way? Seasoned for how long?"
- Get the down-payment sourcing rules in writing: which funds must be seasoned in a bank account, and for how long.
- Compare a crypto route against simply selling earlier in a lower-income year — sometimes the boring path costs less in tax.
FAQ
Can Bitcoin count toward a mortgage in 2026?
Possibly as reserves under the FHFA directive — but lenders decide individually, and implementation is still early (as of Sept 2026 — verify).
Do I have to convert BTC to USD first?
For reserves consideration under the directive, no conversion is supposed to be required. For the down payment itself, expect to deliver fiat — meaning a sale somewhere in the chain.
Will pledging BTC trigger capital gains?
Generally no — pledging is not a sale. Selling is. Liquidation of collateral can be a disposal too. Confirm with a tax professional.
Does Better accept Bitcoin for mortgages?
No public evidence as of Sept 2026. See the Better crypto FAQ.