Crypto Assets May Soon Count Toward Your Mortgage

FHFA Opens Door to Cryptocurrency in Mortgage Risk Assessments: What It Means for Borrowers and the Housing Industry

In a move that could dramatically shift how we think about wealth in mortgage underwriting, the Federal Housing Finance Agency (FHFA) has issued a directive instructing Fannie Mae and Freddie Mac to begin preparing proposals to consider cryptocurrency as an asset in mortgage risk assessments.

This directive, Decision No. 2025-360, signed by FHFA Director William J. Pulte, marks the first time that digital assets like Bitcoin and Ethereum may be formally evaluated within the underwriting process of single-family loans purchased by Fannie Mae and Freddie Mac.

Why This Matters

For years, borrowers holding large amounts of cryptocurrency have found themselves stuck when it came to getting a mortgage. Despite having substantial net worth, those assets were effectively invisible unless they were first converted into U.S. dollars. This created tax events and liquidity issues that often put crypto holders at a disadvantage.

This new directive recognizes the shifting landscape of wealth and the increasing role that crypto plays in personal finance.

“Cryptocurrency is an emerging asset class that may offer an opportunity to build wealth outside of the stock and bond markets,” the directive notes.

With this change, FHFA is opening the door to potentially allow verified, regulated crypto holdings to be included as part of the reserve assessment for mortgage applicants.

What’s in the Directive?

Here are the key highlights:

• Proposals Required: Fannie Mae and Freddie Mac are required to prepare and submit proposals on how they would include crypto assets in their single-family loan risk assessments.
• No Need to Convert to USD: The directive specifically states that these assets can be considered without converting them to U.S. dollars prior to closing, reducing friction for borrowers.
• Only Regulated Holdings Count: The assets must be stored on a U.S.-regulated, centralized crypto exchange and must be verifiable.
• Enterprises Must Include Risk Mitigation Measures: Each agency must consider risk adjustments for volatility and the proportion of reserves held in crypto.
• Board Approval Required: Before any changes go live, each Enterprise must submit its plan for board approval and FHFA review.

This is a strategic move to future-proof the mortgage industry while maintaining prudence around asset volatility and risk exposure.

Impact on Borrowers

For buyers who’ve invested heavily in cryptocurrency, this could be a huge development.

Instead of scrambling to liquidate digital assets to qualify for a loan, eligible borrowers could soon have a path to count that crypto toward their reserves, especially helpful for meeting reserve requirements on conventional or jumbo loans.

Self-employed tech entrepreneurs, investors, and early crypto adopters stand to benefit the most from this proposed change. And while there are still many implementation steps ahead, the tone is clear: crypto is no longer being ignored by the mortgage industry.

What Happens Next?

This order is effective immediately, but it doesn’t mean your crypto will count toward a mortgage today. Enterprises now have the responsibility to draft their proposals, complete internal assessments, and gain approvals.

Expect more guidance in the coming months as Fannie Mae and Freddie Mac publish their formal approaches. Once these are approved by FHFA and their boards, lenders and brokers will begin seeing updates in eligibility guidelines.

Our Take

At Innovative Mortgage Brokers, we believe this is a progressive and long-overdue shift. Financial wealth is evolving, and our lending standards need to evolve with it.

We’ll be watching this closely and preparing internal processes to accommodate these changes the moment they become policy. If you hold crypto and are considering a home purchase or refinance in Pennsylvania or Florida, reach out, we’ll guide you through what’s next.

Stay tuned. Big things are coming.