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A practical overview of what is actually happening at the intersection of crypto, underwriting, escrow, and mortgage policy — with real source links visitors can check for themselves.
The U.S. just opened the door wider to crypto in mortgage underwriting
In June 2025, the FHFA directed Fannie Mae and Freddie Mac to prepare proposals for considering cryptocurrency as a reserve asset in single-family mortgage risk assessments without first converting it to U.S. dollars. That did not instantly change every lender's rules, but it marked a real policy shift in how digital assets may be treated in housing finance.
Why it matters: visitors should understand that crypto is no longer purely outside the mortgage conversation in the U.S. — but implementation still depends on lender policy and secondary-market rules.
Reality check: the agency rulebooks are still conservative today
Fannie Mae's published selling guide still says virtual currency is acceptable for down payment, closing costs, and reserves only after it has been exchanged into U.S. dollars and held in a U.S. or state-regulated financial institution. Freddie Mac guidance likewise says cryptocurrency must be exchanged into U.S. dollars if it will be needed for the mortgage transaction.
Why it matters: there is a difference between policy momentum and current underwriting practice. Visitors should not assume every conventional loan program already treats crypto like cash.
A real market example: private crypto-mortgage lending is already happening
On February 18, 2026, Milo announced that it had originated more than $100 million in crypto mortgages, including a $12 million transaction. Its model lets clients pledge Bitcoin or Ethereum as collateral rather than liquidating holdings to buy property.
Why it matters: even while mainstream underwriting remains cautious, specialized lenders are proving there is real borrower demand and an operating market for crypto-backed housing finance.
Canada has the demand signal — but mostly as an investment story, not a payments story
The Bank of Canada reported in March 2025 that Bitcoin ownership in Canada remained around 10% in 2023. It also noted that usage remains limited for payments, with most owners viewing Bitcoin primarily as an investment.
Why it matters: for Canadian visitors, the opportunity is real, but any mortgage pathway has to be designed around documentation, compliance, and risk — not the assumption that lenders will treat crypto as ordinary spending money.
What buyers and partners should do before treating crypto as 'mortgage-ready'
The practical issues are still the same: document where assets are held, be ready to show transaction history, understand when liquidation may still be required, and work with licensed professionals who can explain reserve, custody, AML/KYC, and underwriting expectations clearly.
Why it matters: the winners in this space will be the groups that combine innovation with boring-but-essential documentation and compliance discipline.