Crypto Mortgage Company Milo Credit offers global crypto users access to financial solutions outside of traditional finance.
Despite the crypto winter, crypto life seems to be lighting up. Milo Credit has announced that it has closed $10 million worth of crypto mortgages in the US alone. Their 30-year crypto mortgage only hit the market last April.
The company claims that the product is the world’s first crypto mortgage offering and allows crypto investors to easily use their digital assets to purchase property.
Josip Rupena is the CEO of Milo. “The success of our crypto mortgage over the past few months is a testament to our ability to pioneer and create a unique solution for the crypto community. We have incredible momentum and see a fundamental need to help individuals diversify their wealth to generate real returns through real estate. In today’s volatile environment, our crypto mortgage is a great solution for clients who want to continue owning crypto and investing in real estate, while retaining the potential price appreciation of both.
Crypto Mortgage – A First
Milo says they were the first fintech to offer a mortgage that connects digital assets with traditional finance. Investors are eligible for the mortgage with Bitcoin, Ethereum, and USDC. “To purchase property, customers can pledge their crypto to regulated and insured custodians (Gemini and Coinbase) and fund 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 of up to $5 million.
Miami Mayor Francis Suarez said, “Bridging the gap between traditional finance and crypto is one of the most important pieces of the puzzle to making cryptocurrency and blockchain more ubiquitous in our daily lives. With its mortgage product, Milo has already proven that the future of finance will serve to create wealth, just like the financial tools of the past.
Real estate and wealth creation
The company says real estate is a critical component to building wealth over time. Crypto users weren’t given the option to buy real estate – so they used riskier ways to generate returns.
The company claims to have given thousands of borrowers a crypto mortgage pre-qualification. This is how borrowers know what they can afford. “Milo’s mortgage solution for U.S. and foreign nationals has already generated over $100 million in loans and seen applicants from over 90 countries.”
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