World's First Crypto Mortgage: US Innovation
February 4, 2022
A program was presented in the US under which citizens of the country, as well as foreigners, can buy housing on the terms of mortgage lending secured by bitcoin.
A program was presented in the US under which citizens of the country, as well as foreigners, can buy housing on the terms of mortgage lending secured by bitcoin. According to the initiators, this approach will allow cryptocurrency owners to get several advantages at once:
- they will not have to sell bitcoin for the opportunity to make a down payment;
- they will be able to make additional profit if the cryptocurrency rises in price.
In addition, in this case, one will not have to pay mortgage tax.
When is the program going to start its operation?
The exact timing of the launch of the program is not known. Its development began in January 2021. Since that time, a huge number of applications have been received from people who want to use this service. It is expected that they will be able to do this in 2022.
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