Milo releases crypto refinance and undercollateralized mortgage

Milo estimates that consumers can save up to $175,000 over a five-year term on a $1 million loan. The launch of the crypto cash-out refi comes on the heels of the release of Milo’s 30-year crypto mortgage purchase loan in January. The Miami-based fintech also celebrated a recent milestone of reaching $10 million in crypto mortgages.

“Based on the success of our crypto mortgage offering, we are now able to empower those who would have liked 100% financing via a crypto mortgage when purchasing their home,” said Josip Rupena, CEO and founder of Milo. “With our crypto refinance, they can benefit from having access to their home equity when attractive investment opportunities come up. We will continue to pioneer this space and help individuals diversify their crypto wealth with real estate by creating unique offerings that are only possible with crypto.”

The second newly released product is an undercollateralized crypto mortgage backed by USDC or tokenized US dollar. The offering allows customers to borrow 100% of the property’s value by pledging 40% of the loan amount in USDC.

Rupena said that the company saw a need for an undercollateralized crypto mortgage early on.