Cryptocurrency rules for homebuying loosen, widening mortgage opportunities

This past spring it got easier for homebuyers to use cryptocurrency when qualifying for loans.

Under these new rules, buyers don’t have to liquidate cryptocurrency right away. Instead, they can list their virtual tokens as an asset.

When it comes time to use digital money for a down payment or closing costs, homebuyers will need to convert their tokens to U.S. dollars, usually through a bank that will convert the asset.

Before we dig deeper into virtual currency (Fannie Mae’s term for cryptocurrency), let’s get a better understanding of just what crypto is.

Cryptocurrency is a type of unregulated digital asset that operates outside of central banks and governments. Individual coin or token records are stored in what’s called a digital ledger, more commonly called blockchain, which is a computerized database. Crypto uses a decentralized, peer-to-peer system to record transactions and issue new tokens.

Last week, the cryptocurrency Bitcoin USD was trading above $80,000 per token. Its all time high was $126,198, set in late 2025.

A study by the Pew Research Center estimates at least 20% of Americans have used cryptocurrency.

How we got here

Two years ago on July 27, 2024, then former President Donald Trump said on X that he wanted “to make the United States the crypto capital of the world.”