{"id":15573,"date":"2022-01-19T14:27:07","date_gmt":"2022-01-19T14:27:07","guid":{"rendered":"https:\/\/www.knowledgeinnovations.com\/?p=15573"},"modified":"2022-01-19T14:33:31","modified_gmt":"2022-01-19T14:33:31","slug":"milo-introduces-its-30-year-crypto-mortgage-loan","status":"publish","type":"post","link":"https:\/\/www.knowledgeinnovations.com\/2022\/01\/19\/milo-introduces-its-30-year-crypto-mortgage-loan\/","title":{"rendered":"Milo Introduces it&#8217;s 30-year Crypto-mortgage Loan"},"content":{"rendered":"<figure id=\"attachment_15576\" aria-describedby=\"caption-attachment-15576\" style=\"width: 300px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" class=\"size-medium wp-image-15576\" src=\"https:\/\/www.knowledgeinnovations.com\/wp-content\/uploads\/2022\/01\/NY-Crypto-rich-but-cant-buy-a-home-Now-you-can-MAIN-705x439-1-300x187.jpg\" alt=\"Milo Founder and CEO Josip Rupena (iStock, Milo Credit)\" width=\"300\" height=\"187\" srcset=\"https:\/\/www.knowledgeinnovations.com\/wp-content\/uploads\/2022\/01\/NY-Crypto-rich-but-cant-buy-a-home-Now-you-can-MAIN-705x439-1-300x187.jpg 300w, https:\/\/www.knowledgeinnovations.com\/wp-content\/uploads\/2022\/01\/NY-Crypto-rich-but-cant-buy-a-home-Now-you-can-MAIN-705x439-1.jpg 705w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-15576\" class=\"wp-caption-text\">Founder and CEO of Milo, Josip Rupena (iStock, Milo Credit)<\/figcaption><\/figure>\n<p>Milo, a Miami-based fintech startup is introducing what it claims is the world\u2019s first \u201ccrypto mortgage.\u201d The digital bank will allow crypto investors to leverage their digital assets to purchase real estate in the United States.<\/p>\n<p>For now, only customers (both American and international customers) wanting to use Bitcoin (BTC) as collateral qualify for Milo\u2019s 30-year mortgage loan. Milo\u2019s website states:<\/p>\n<blockquote><p>\u201cInstead of selling your crypto for a down payment to qualify for a mortgage, a crypto mortgage lets you leverage your crypto to invest in real estate.\u201d<\/p><\/blockquote>\n<p>Meanwhile, Milo has already granted some loans as part of its early-access stage and expects the service will be available to most applicants on its waiting list in the coming months.<\/p>\n<p>It remains unclear how much BTC will be needed to secure a loan, or the level of over-collateralization needed to balance out the digital asset\u2019s volatility.<\/p>\n<p>Josip Rupena, CEO and founder of Milo, said that the idea came in response to seeing the \u201ccountless stories\u201d of people cashing out their BTC to purchase property, only to see it increase in value later on.<\/p>\n<blockquote><p>\u201cThe existing ways for crypto consumers to access home credit has left them with unintended tax liabilities of selling for a down payment or worse the opportunity cost of seeing their crypto increase in value.\u201d<\/p><\/blockquote>\n<p>According to Milo, its other mortgage solution for foreign nationals has originated millions of dollars in loans already and has seen applicants from over 63 countries. It allows non-U.S.-based customers to close their housing loans remotely, without the need to travel to the U.S. or to an embassy.<\/p>\n<p>Rupena at the North American Bitcoin Conference said that pro-crypto Miami Mayor Francis Suarez said that the Bitcoin mortgage is a \u201cgroundbreaking achievement\u201d for advancing U.S. dominance in the Bitcoin ecosystem.<\/p>\n<p><a href=\"https:\/\/www.milocredit.com\/crypto\/\"><strong>Benefits of a Milo Crypto Mortgage<\/strong><\/a><\/p>\n<ul>\n<li>Crypto wealth qualifies you, not tax returns \/ FICO score<\/li>\n<li>Low bank interest rates, no high hard $ rates<\/li>\n<li>Finance 100% of the purchase, no down payment needed<\/li>\n<li>Milo is a direct lender, licensed, audited, and insured<\/li>\n<li>Income taxes are not triggered by transaction<\/li>\n<li>Add or withdraw pledged crypto to adjust your rate<\/li>\n<\/ul>\n<p>Source: Cointelegraph<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Milo, a Miami-based fintech startup is introducing what it claims is the world\u2019s first \u201ccrypto mortgage.\u201d The digital bank will allow crypto investors to leverage their digital assets to purchase real estate in the United States. For now, only customers (both American and international customers) wanting to use Bitcoin (BTC) as collateral qualify for Milo\u2019s&#8230;<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[133,128],"tags":[290,254,291],"acf":false,"author_meta":{"ID":"3","user_nicename":"kweningt","user_email":"kweningt@gmail.com","user_registered":"2021-05-16 03:02:17","display_name":"Theodora Kwening","first_name":"Theodora","last_name":"Kwening"},"_links":{"self":[{"href":"https:\/\/www.knowledgeinnovations.com\/wp-json\/wp\/v2\/posts\/15573"}],"collection":[{"href":"https:\/\/www.knowledgeinnovations.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.knowledgeinnovations.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.knowledgeinnovations.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.knowledgeinnovations.com\/wp-json\/wp\/v2\/comments?post=15573"}],"version-history":[{"count":2,"href":"https:\/\/www.knowledgeinnovations.com\/wp-json\/wp\/v2\/posts\/15573\/revisions"}],"predecessor-version":[{"id":15578,"href":"https:\/\/www.knowledgeinnovations.com\/wp-json\/wp\/v2\/posts\/15573\/revisions\/15578"}],"wp:attachment":[{"href":"https:\/\/www.knowledgeinnovations.com\/wp-json\/wp\/v2\/media?parent=15573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.knowledgeinnovations.com\/wp-json\/wp\/v2\/categories?post=15573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.knowledgeinnovations.com\/wp-json\/wp\/v2\/tags?post=15573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}