Milo Crypto Mortgage is Not for the Average Holder

I’m sure some of you have heard about the Milo crypto mortgage. It’s one of the first companies to offer a crypto mortgage. The idea is that you lend them you’re crypto as collateral and they give you a mortgage in return. They market it as good for people who are either young and or unable to get a mortgage through traditional banks for reasons such as a lower income or bad credit score.

Since I am young and invested in crypto I decided I would join the waiting list to learn a little more about the process and to see if it seemed in any way scammy. A couple of days ago I got my spot and was able to register for a pre approval.

I am only a college student woth a low income and only around 5000 dollars worth of crypto so I didn’t expect to get an offer for a huge amount or even get pre approved at all. We’ll that’s exactly what happened I wasn’t approved for pre-approval so i contacted them to see why exactly just cause I was curious if I was anywhere close to getting pre approved. In fact I was not the person I was talking to informed me that in order to qualify you need a MINIMUM OF 200K DOLLARS WORTH OF CRYPTO WEALTH.

How is that in any way intended for young, low-income, or people with bad credit. If someone is able to amass 200k crypto wealth then by all means I would assume they are financially savvy in other aspects which would allow them to qualify for a traditional loan which seems better anyway because it is a mortgage that has been time tested and has one in which you wouldn’t have to lend 200k dollars worth of crypto as collateral.

Anyway this was my experience with Milo crypto mortgage. It just angered me thar they marketed it as for people who aren’t able to qualify for a traditional loan yet to qualify for theirs you need minimum 200k crypto wealth. Maybe some of yall are able to reach that and it is more appealing than a traditional loan but as for me I’m sure if I am ever able to amass that much crypto wealth then I would also qualify for a traditional loan and would probably go with that option instead.

TL;DR: To qualify for a Crypto Mortgage through Milo you need a minimum of 200k crypto wealth. This angered me because they market it towards people unable to qualify for traditional loans, but if you amass that much crypto wealth you are almost certainly able to qualify for a traditional loan.

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12 thoughts on “Milo Crypto Mortgage is Not for the Average Holder”

  1. Yeah that’s absurd. People with “okay” credit and an “okay” income are still approved for mortgages. Most the time you only need to have anywhere from 5-10% down as well to get approved through a traditional mortgage lender.

  2. Damn man thats not good.. 200k in crypto is more than 99% of us will have. It sounds more like a gimmicky thing for their company trying to be the first, or being super selective by being strict.

  3. Sounds like how about 5-8 years ago, if you wanted to invest in stocks, you needed at least 5k usd in México. Very gatekeeping of them.

  4. College kids expecting NINJA crypto loans with no collateral / skin in the game…. damn thats some entitlement.

    Standard loans require less down payment in return for ok credit (600+), stable jobs and a history of income to support your purchase…. you can even use crypto/btc as your down payment…

    Crypto loan requires collateral. Ofcourse you’re going to need enough to cover your purchase or whatever the risk appetite of the lender…


  5. Seems like a pretty high barrier to entry … not sure who this product is intended for. If you had 200K in crypto and no other assets I’d be staking it and if 200K was fun money for you then I’d be buying property outright. I’m sure there will be a middle band this appeals to but I think it would be a narrow one.

  6. That initial requirement eliminate so much people. Who are in crypto and have 200K crypto wealth. That is not the way to be in this market.

  7. The product has a 1:1 collateral requirement – that is the issue, they don’t run a credit check or have many other common requirements because you’ve given them crypto of the same amount of the dollars they loan you.

  8. That’s just terrible marketing. I can’t imagine anyone who *would* qualify (200K+ in crypto) would look at a program marketing to low income and think “I want to try that out.”


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