In addition to stating that its clients can leverage their Bitcoin to buy properties, the fintech added that they would also qualify for a low-interest rate 30-year crypto mortgage.
Fintech company Milo has announced its new crypto mortgage in the US, which is now the first in the world. With the new crypto mortgage, Milo has made it possible for crypto investors to leverage their digital assets to purchase real estate. Milo announced its record crypto mortgage in a press release on the 18th of January, 2021. The company said it has been working on the innovation since 2021 and will be available in early 2022. According to the company, there is already a waitlist where clients have been given early access to qualifying for loans.
Milo Offers 30-Year Crypto Mortgage in the US
In addition to stating that its clients can leverage their Bitcoin to buy properties, the fintech added that they would also qualify for a low-interest rate 30-year crypto mortgage. This way, clients can maintain ownership of their Bitcoin while diversifying into real estate. More beneficially, they enjoy these privileges while keeping their Bitcoin and real estate’s possible price appreciation. Interested persons can finance up to 100% of the purchase with no down payment in the form of US dollars. Indeed, Milo is creating a connection between the crypto world and real estate.
CEO and founder of Milo, Josip Rupena, spoke on the rapid global evolution and how customers invest trillions in cryptocurrencies. In his statement, he said the company’s clients are looking forward to “innovative solutions” to make credit available to millions of consumers. Rupena continued:
“The existing ways for crypto consumers to access home credit has left them with unintended tax liabilities of selling for a down payment or worse the opportunity cost of seeing their crypto increase in value. There are countless stories of people buying property with bitcoin proceeds only to see it increase in value and be worth millions more.”
Hence, the company came up with a solution that helps customers hold on to their crypto assets and, at the same time, buy real estate.
Exciting Time for the Industry
Speaking further during the recent announcement, Rupena emphasized that it is an “exciting time for the crypto and mortgage industries.”
The CEO addressed consumers who have been denied loans from banking firms because they had just Bitcoin. He said that they can now enjoy offerings from the new Milo crypto mortgage. Rupena continued by saying that people now have the opportunity to let their Bitcoin wealth help them buy properties.
Mayor of Miami Francis Suarez referred to the Milo crypto mortgage as a “groundbreaking” win. In his opinion, the development will help the US in advancing its dominance in the crypto space.
Milo has another mortgage solution for foreign nations, which has pulled in millions of dollars in loads. Also, the company’s other mortgage solution has recorded several applicants from more than 63 countries.
Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.
