Milo Review: 2026 Bitcoin Mortgage Guide

Milo originated the first crypto-backed mortgage in 2022 and crossed $100M in originations by February 2026, including a $12M single-transaction record. BTC and ETH are both accepted as collateral; Coinbase Custody or BitGo holds pledged assets, with $250M in Lloyd's of London insurance on the BitGo arrangement. Milo's mortgages became Fannie Mae eligible in March 2026. Foreign nationals from 93 countries are served — no SSN or US tax returns required. Minimum credit score is 660. NMLS #1811449.

APR runs 7–8.5%, varying by loan size, term structure, and pledge structure. Total closing costs are typically 2–4% of the loan amount — the 2% origination is the baseline; underwriting and other fees add to it. Maximum LTV is 100% with a full pledge (zero cash down possible). A self-custody variant exists at up to 75% LTV for borrowers who want their keys to stay in their own wallet and want no margin call risk — minimum loan $200,000. The standard pledged product starts at $275,000 with a ceiling of $5M (larger deals handled case-by-case). Up to a 3-year prepayment penalty may apply on some products, though 20% annual prepayment is permitted without fee.

Margin calls trigger when BTC or ETH drops approximately 69% from the pledged value at origination (Milo's FAQ figure; a blog post cites 65% — likely reflecting different collateral ratios). Borrowers have 72 hours to add collateral or make a principal payment; liquidation is partial, not a full-balance sale. Milo reports zero historical margin calls across its entire portfolio. Eligible property types are primary residences, second homes, and investment properties (SFR, condo, townhome, 2–4 unit). Full state availability is not publicly disclosed; confirmed states include Florida, Texas, California, Colorado, Connecticut, and Arizona.

• Coinbase Custody or BitGo qualified custody
• Self-custody option available (up to 75% LTV)
• Foreign nationals served — no SSN required
• Up to $25M loan
• Up to 100% LTV with full BTC pledge
• Zero historical margin calls (company claim)

• Mortgage rate higher than typical crypto general-loan rate
• Exact state list not publicly transparent — verify directly
• Margin call threshold at 56–69% BTC price drop from pledged value
• ~2% origination fee

Milo is one of several options in the Bitcoin mortgage market. Borrowers often compare it alongside Moon Mortgage, Better, and Newrez. Each lender differs on APR range, custody model, rehypothecation posture, max LTV, and state coverage — factors that matter differently depending on your loan size and how much you care about custody transparency. The side-by-side comparison lets you sort and filter all Bitcoin mortgage lenders at once.