Milo Mortgage Review 2026: Buy a House Using Your Bitcoin

The Verdict

Milo is the most accessible Bitcoin-backed mortgage lender in the US. It lets you pledge Bitcoin as collateral to buy a home — no income verification required for their crypto mortgage product, no need to sell your BTC. For Bitcoin holders who want to enter real estate without liquidating their crypto, Milo is the pioneering option.

The tradeoffs are significant: rates are higher than conventional mortgages, the LTV is lower, and there's liquidation risk if Bitcoin's price falls sharply. But for HODLers who refuse to sell and want to unlock real estate wealth, no comparable product exists in the conventional market.

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What Is Milo?

Milo is a Miami-based fintech lender that launched the first crypto mortgage in the US in 2022. Their Crypto Mortgage product allows borrowers to use Bitcoin (and other cryptocurrencies) as collateral to purchase a home — without selling the crypto, without income documentation, and without a traditional credit-based underwriting process.

In a conventional mortgage, the lender cares primarily about your income, credit score, and debt-to-income ratio. In Milo's crypto mortgage, the collateral is your Bitcoin. If you have enough BTC, you can borrow against it to buy property.

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How Milo's Crypto Mortgage Works

The mechanics:

1. You pledge Bitcoin as collateral to Milo
2. Milo funds the home purchase (the mortgage)
3. You make monthly payments (principal + interest)
4. Your Bitcoin remains pledged as collateral for the life of the loan
5. If Bitcoin's price falls below a threshold, Milo may require additional collateral or partial repayment
6. When you pay off the loan, your Bitcoin is returned

Loan-to-Value (LTV):

• Milo typically offers up to 100% LTV on the property purchase
• The collateral requirement: you're pledging Bitcoin worth approximately 100% of the property value
• Example: $500,000 home purchase requires pledging ~$500,000 in Bitcoin as collateral

Who qualifies:

• US residents purchasing property in the US
• Must have sufficient Bitcoin to meet collateral requirements
• No income verification required for the crypto mortgage product
• Must be the Bitcoin account holder

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Rates and Terms

Milo's crypto mortgage rates are higher than conventional mortgages, reflecting the additional risk of crypto collateral:

• Interest rates: Typically 2-4% above conventional mortgage rates (as of 2026, expect rates in the 8-12% range depending on market conditions)
• Loan amounts: $150,000 to $5,000,000+
• Loan terms: 30-year fixed or adjustable options
• Origination fees: Typically 1-2% of loan amount
• Prepayment penalty: None

Rates vary and change with market conditions. Request a quote directly from Milo for current figures.

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The Liquidation Risk

This is the critical risk that every Milo borrower must understand before signing.

How it works: If Bitcoin's price falls significantly, the value of your collateral decreases. If it falls below a threshold (typically when the collateral value drops to ~80-85% of the loan balance), Milo will:

1. Issue a margin call — requiring additional collateral or partial repayment
2. If you can't meet the margin call, liquidate some of your Bitcoin to bring the ratio back in line

Historical context: Bitcoin has dropped 50-80% from peaks multiple times in its history. A borrower who pledged Bitcoin at $100,000/coin and saw the price drop to $30,000 would face severe margin pressure.

Risk mitigation strategies:

• Over-collateralize: pledge more Bitcoin than required to create a buffer
• Maintain liquid reserves: keep additional Bitcoin or cash available to meet potential margin calls
• Only borrow what you can service even in a bear market
• Understand your specific liquidation thresholds before borrowing

For a deeper analysis of loan-to-value mechanics, see our Bitcoin-backed loan LTV guide.

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Milo vs. Conventional Mortgage: Side-by-Side

	Milo Crypto Mortgage	Conventional 30-yr Mortgage
Income verification	Not required	Required (W-2s, tax returns)
Credit score	Not primary factor	620+ typically required
Collateral	Bitcoin	Property only
Interest rate	Higher (8-12%)	Lower (6-8% in 2026)
Down payment	None (collateral replaces)	Typically 3-20%
LTV flexibility	Up to 100%	Up to 97% (with PMI)
Liquidation risk	Yes (if BTC drops)	No (property only)
Best for	Bitcoin holders without W-2 income	Traditional homebuyers

When Milo makes sense vs. conventional:

• You have significant Bitcoin but irregular or hard-to-document income (self-employed, crypto-native)
• You want to avoid the capital gains tax event of selling Bitcoin
• You can't qualify conventionally but have adequate BTC collateral
• You believe Bitcoin will appreciate, making the higher rate worthwhile

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Milo vs. Ledn vs. Unchained: Bitcoin Mortgage Comparison

	Milo	Ledn	Unchained
US property	Yes	Limited	Yes
International	Yes (some markets)	Yes (broader)	US focus
Collateral type	BTC + ETH + others	BTC	BTC
Income verification	Not required	Varies	Varies
Rate competitiveness	Higher	Comparable	Comparable
Custody of collateral	Milo custodian	Ledn	Unchained collaborative multisig
Multisig custody	No	No	Yes

Unchained uses collaborative multisig for the collateral — you and Unchained share keys, which is more self-sovereign than handing Bitcoin directly to a custodian. If custody of your collateral matters, Unchained's structure has an advantage.

For the complete comparison, see our Milo vs Ledn vs Unchained guide.

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Who Should Use Milo

Milo makes sense if:

• You hold significant Bitcoin ($500K+) and want to buy real estate without selling
• You have irregular income that disqualifies you from conventional mortgages
• You believe Bitcoin will appreciate, making the BTC + property combination a strong portfolio move
• You're self-employed, a founder, or have income primarily in crypto
• You've done the math on the higher rate vs. capital gains tax on selling BTC

Consider alternatives if:

• You can qualify for a conventional mortgage (the lower rate is significantly cheaper)
• Your Bitcoin position is close to the collateral requirement (leaves no buffer for price drops)
• You're risk-averse about margin calls during a bear market
• You want self-sovereign custody of your collateral (look at Unchained)

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The Tax Math

One compelling reason to use a Bitcoin mortgage instead of selling BTC: capital gains taxes.

If you bought Bitcoin years ago at a low cost basis, selling to fund a home purchase triggers a significant capital gains tax bill. Example:

• Bought 10 BTC at $10,000 average ($100,000 total)
• Current value: $1,000,000
• Sell to buy a $500,000 home: $400,000 capital gain taxed at 15-20% long-term rates = $60,000-$80,000 in taxes

Using a Milo mortgage, you pledge Bitcoin as collateral without selling. No sale, no capital gains event. The higher interest rate on the mortgage might cost $20,000-$30,000 over several years — still less than the tax bill.

This is the core financial case for Bitcoin-backed mortgages. Run your specific numbers with a tax advisor before deciding.

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Application Process

1. Pre-qualification: Submit basic information online (property price, Bitcoin amount, desired loan)
2. Bitcoin verification: Prove ownership of the collateral Bitcoin
3. Property appraisal: Standard property appraisal process
4. Underwriting: Milo reviews collateral-to-loan ratio, property details
5. Closing: Standard real estate closing with Bitcoin collateral transferred to Milo's custody
6. Ongoing: Monthly payments; Bitcoin remains pledged until loan payoff

Timeline is comparable to conventional mortgages: 30-45 days from application to closing.

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The Bottom Line

Milo pioneered the Bitcoin-backed mortgage category and remains the most accessible option for US borrowers. The product is real, the process works, and for the right borrower — significant Bitcoin holdings, need to avoid capital gains tax, strong belief in Bitcoin's appreciation — the math can work in your favor.

The risks are real and must be stress-tested against bear market scenarios. Anyone considering a Milo mortgage should run the liquidation scenario: what happens to your collateral if Bitcoin drops 70%? If the answer is catastrophic, either over-collateralize significantly or reconsider.

For a complete picture of all Bitcoin mortgage options, see our best Bitcoin mortgage lenders guide.

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Frequently Asked Questions

Is Milo legit? Yes. Milo is a licensed mortgage lender regulated by state banking authorities. They launched in 2022, have closed numerous loans, and operate transparently with standard mortgage documentation.

What happens to my Bitcoin if I can't make payments? Like any mortgage, failure to make payments can lead to default and foreclosure on the property. Simultaneously, your pledged Bitcoin collateral is at risk. This is a dual-collateral situation — both your property and Bitcoin exposure in a default scenario.

Does Milo accept Bitcoin only, or other crypto? Milo accepts Bitcoin and several other major cryptocurrencies as collateral. Bitcoin is the most common and most favorably treated given its lower volatility relative to altcoins.

Can I pay off a Milo mortgage early? Yes, with no prepayment penalty. Early payoff releases your Bitcoin collateral immediately.

What's the minimum Bitcoin I need to get a Milo mortgage? You need Bitcoin collateral roughly equal to the property value you're purchasing. For a $300,000 home, expect to pledge approximately $300,000 in Bitcoin (subject to current LTV requirements, which can vary).