Rate Targets 10% of Americans Holding Crypto With New Mortgage Product
U.S. mortgage lender Rate has launched a nationwide product, RateFi, that formally recognizes cryptocurrency holdings in the home loan underwriting process. The program allows borrowers to count verified digital assets toward their qualifying reserves and, in some cases, as a source of income, without forcing them to sell. This initiative targets the more than 10% of Americans who report holding digital assets, providing a new bridge between crypto wealth and the traditional housing market.
Operating within Rate's non-qualified mortgage framework, RateFi assesses a curated list of high-liquidity, large-cap cryptocurrencies and major USD-backed stablecoins. The lender uses a proprietary valuation model that accounts for market price, liquidity, and asset-specific volatility to determine their value for underwriting. While these assets can be used to qualify, borrowers must still convert crypto to cash for down payments and closing costs. Eligible assets must be held with approved custodians, and borrowers must provide proof of ownership through statements.
Product Launch Aligns With Push for Crypto in Housing Finance
The RateFi program arrives as housing affordability becomes a critical economic issue in the United States, prompting policymakers to explore new financing solutions. The initiative mirrors recent government actions aimed at integrating digital assets into mortgage assessments. In June 2025, the Federal Housing Finance Agency (FHFA) directed Fannie Mae and Freddie Mac to draft proposals on treating cryptocurrency as a reserve asset. This was followed by Senator Cynthia Lummis introducing the 21st Century Mortgage Act in July to codify that directive into law.
Rate's leadership views the product as a response to evolving financial realities, particularly for younger generations who are more active in the digital economy.
Younger generations are entering their peak homebuying years at a time when traditional paths to ownership are increasingly out of reach, yet they’re also the most active participants in the digital asset economy.
— Kate Amor, EVP and head of enterprise products at Rate
The program adheres to standard anti-money laundering (AML) and know-your-customer (KYC) regulations, signaling a move to incorporate crypto into regulated finance while managing associated risks.
