US housing agency FHFA considers digital assets like Bitcoin for mortgage collateral

The US Federal Housing Finance Agency (FHFA) is exploring whether digital asset holdings like Bitcoin should be considered in mortgage application processes.

FHFA Director Bill Pulte announced the initiative on July 24 via X, noting that the agency is beginning a review process to determine how crypto might be used in home loan evaluations.

According to him:

“We will study the usage [o]f cryptocurrency holdings as it relates to qualifying for mortgages.”

The FHFA regulates America’s housing finance system. It oversees major institutions like Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.

Traditionally, mortgage underwriters accepted collateral that included the applicant’s savings, retirement accounts, and publicly traded securities. Cryptocurrencies, however, have long been excluded due to market volatility and a lack of regulatory clarity.

This development could substantially change the underwriters’ reluctance, as the emerging industry could be recognized as a viable financial instrument for house financing.

Notably, the planned review comes amid a broader wave of regulatory openness toward crypto in the US, especially under President Donald Trump’s administration.

How crypto can reshape mortgage qualifications in the US

While FHFA has yet to reveal how the crypto mortgage processes would be evaluated, Michael Saylor’s firm, Strategy (formerly MicroStrategy), has developed a Bitcoin credit framework that assesses risk using BTC’s price, volatility, loan term, and projected returns.

The model is designed to help institutions evaluate borrower strength when digital assets are involved.

Industry players have welcomed the move and pointed out that many digital asset holders face hurdles when applying for mortgages.

Tristan Yver, the co-founder of the BackPack crypto exchange, noted that crypto holders often needed to convert their holdings into fiat and allow the funds to sit in a traditional bank account—sometimes for months—before lenders acknowledged them.

According to him, this process delays financing and has forced many long-term holders to exit their crypto positions prematurely.

Anthony Apollo, who leads the Wyoming Stable Token Commission, reflected on these practices from major financial institutions.

He shared that JPMorgan, for example, required digital assets to be converted and seasoned in a bank account for several months before being considered in mortgage evaluations.

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