US federal housing confirms mortgage process will soon include crypto assets

According to an announcement made on Monday by its new director, Bill Pulte, the US Federal Housing Finance Agency (FHFA) will begin a formal review of how crypto holdings could be factored into mortgage qualification processes. 

The 37-year-old businessman turned policymaker, sworn in as FHFA director on March 14 after being nominated by President Donald Trump, made the announcement via social media. 

“We will study the usage of cryptocurrency holdings as it relates to qualifying for mortgages,” he posted on X.

We will study the usage pf cryptocurrency holdings as it relates to qualifying for mortgages.

— Pulte (@pulte) June 24, 2025

The FHFA oversees most parameters of the US housing market, including Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. It could push traditional mortgage lenders who have largely excluded crypto holdings from eligibility calculations to start accepting digital assets from homebuyers.

Pulte pushes for crypto-backed house mortgages

Pulte is the founder of Pulte Capital Partners and the grandson of William Pulte, who founded Pulte Homes, currently the third-largest homebuilder in the United States.

His financial disclosures earlier this year revealed that he holds between $500,001 and $1,000,000 each in Bitcoin and Solana. The crypto-related investments also include shares in Marathon Digital Holdings, now rebranded as MARA, the well-known US-based bitcoin mining company.

The portfolio also carries meme stocks like GameStop and Bed Bath & Beyond, and shares in Tesla, Palantir, and ventures linked to YouTube celebrity MrBeast. 

Pulte made his first crypto purchase of 11 BTC in 2019, in which he later pledged to give away crypto to followers on X, although the post is now deleted.

He is also a known supporter of Donald Trump’s political campaign, having donated $6,600 to the president’s 2024 re-election bid, along with contributions to Save America PAC and the Republican National Committee, according to filings by OpenSecrets.

Crypto could be considered in mortgage lending

Under current lending standards, most US mortgage providers do not accept direct crypto payments like Bitcoin or Ethereum to service home loans. Yet, proceeds from the sale of cryptocurrencies can be used for down payments or to cover closing costs, provided the funds can be verified and documented.

Steven Glick, director of mortgage sales at HomeAbroad, notes that lenders prioritize the stability and traceability of funds. 

“The lender needs to see that your funds are stable and not borrowed,” Glick said. He explained that borrowers must convert their crypto holdings to US dollars through recognized exchanges like Coinbase or Kraken, then transfer the proceeds to a conventional bank account.

Andrew Lokenauth, a personal finance consultant, explained to the Mortgage Research Network about a client who successfully converted $100,000 in Ethereum into a mortgage down payment.

“We documented every step, including the sale on Coinbase, the transfer to his bank, and two months of statements showing the money remained there,” Lokenauth said. “The rule of thumb is that a clean paper trail equals a happy mortgage underwriter.”

Documentation must include transaction records from the crypto exchange, deposit confirmations from the bank, and at least 60 days of “seasoning” where funds remain untouched. 

Lenders may also require evidence that the crypto was not obtained through a loan or margin account to comply with anti-money laundering regulations.

“If you can’t prove it, in the lender’s eyes you don’t own it,” insisted mortgage advisor Cooling, reiterating that undocumented funds could disqualify a borrower.

Outside of traditional banking, a group of crypto lenders could soon begin offering mortgage services based on digital assets. Thomas Franklin, CEO and founder of Swapped.com, a crypto brokerage firm, reckons the “fear” over crypto mortgages is often exaggerated.