The Home Loan Expert, LLC announced its commitment to digital currencies as it begins making substantial purchases of Bitcoin. With this investment, the company continues its exploration to be the first to regularly accept bitcoin as a verified asset and as a method for down payments on homes.
The growth of digital currency for commercial use around the world, Coinbase Global’s announcement to become a publicly traded company, along with other behind-the-scenes moves, persuaded Ryan Kelley, CEO, and Founder of The Home Loan Expert, to explore the possibility. His goal is that of bringing this alternative to expand access to mortgage loans through digital channels.
“We are embarking on this road in recognition of the shift in commercialization through those technologies and the development to something that confidently looks to be real business as mainstream adoption gets closer. Finding a way for borrowers to use cryptocurrency as a down payment just seems like the right thing to do. It falls in line with our commitment of always improving our client’s experience.” Kelley said.
A majority of Americans exploring and accepting cryptocurrencies as a modern staple are millennials and Generation Z. These groups make up the largest market for potential homeownership in the country. And as other industries innovate in the space, The Home Loan Expert LLC aims to be that first-mover in the mortgage space.
“Nothing is more intrinsic to the American dream than buying a home. Accepting crypto as a down payment will essentially turn digital currencies into an All-American reality,” Kelley added.
The start of accepting Bitcoin and other digital currencies as verified assets for loan approvals, methods of down payments, and the making of monthly payments are still “subject to approval and all State and Federal applicable laws”. The Home Loan Expert LLC is the first major mortgage lender to go all in and lead the industry into the digital currency space.