Paying a mortgage in cryptocurrencies is already a reality in the United States

Paying a mortgage in cryptocurrencies is already a reality in the United States with all the risks that comes with it thanks to the company Milo. At the moment, there are more than 6,000 applicants on the waiting list.

Cryptocurrencies are increasingly integrated into our lives and some applications such as PayPal are already starting to include improvements such as the possibility to make transfers of this virtual currency or now it is also possible to have a mortgage in cryptocurrencies.

Paying a mortgage in cryptocurrencies is already a reality in the United States, where you can buy a 30-year house with a cryptocurrency mortgage. The company Milo has been offering mortgages in ‘crypto’ since late last year.

It is therefore one of the first companies that offers its customers with large cryptocurrency fortunes the possibility to buy a house with it.

The interest rates they are now offering are between 5 and 7 percent and if you look on their website, should you be interested in a million dollar house, Milo offers its customers a 30-year mortgage with an interest rate of 5.95 percent.

The trick to all this is that investors must have 100% of the required amount in cryptocurrencies and the term of these mortgages can be closed in just three weeks by paying the full amount and without an extra upfront payment.

The target audience for this new form of mortgage are investors who want to invest their virtual fortune in physical assets, which is why they are so picky about Milo and require applicants for a house worth, for example, a million dollars to have that amount in investment funds. cryptocurrencies.

The idea is that “the buyer does not sell their cryptocurrencies and then see how their value goes up,” they explained of Milo, but the point is that the organization is all virtual currency and that no kind of change.At the moment, the company only accepts buyers from the United States and this innovative system also carries great risks, because if Bitcoin reduces its value, the company would go bankrupt.

Conversely, if its value rises, Bitcoin will skyrocket and the value of the floor will also rise. Despite these obvious risks, there are many who want to continue to bet on this new form of mortgage.

Originally published at https://www.reddit.com.