Milo Launches First Crypto Cashout Refinance and Undercollateralized Crypto Mortgage
Former Crypto home buyers can now access their equity
MIAMI, 6 September 2022 /PRNewswire/ — Miloa financial technology company reshaping the way global and crypto consumers access financial solutions, today launched the world’s first crypto refinancing offer and undersecured mortgages. This new refinancing product enables borrowers to access US dollars by pledging crypto-assets and property to pay out up to 100% of the property’s equity value. These borrowers can now use the cash proceeds from the property to pay off existing debt, buy back crypto or invest in other assets.
Milo’s crypto refinancing offer is a game changer for those who previously sold their crypto or took out a short term crypto loan to buy a home in cash. This solution allows them to extend the repayment period to 30 years and access financing they would have preferred from the start. Milo’s crypto refinancing also requires significantly less crypto security than similar products on the market. While crypto loans usually require 2 or 3 times the loan amount as collateral, Milo’s product only requires 1x the loan amount or less. The interest cost savings of this crypto loan versus a crypto loan are also significant; consumers can save up to $175,000 over a 5-year period of a 1 million dollars borrow!
“Based on the success of our crypto loan offering, we are now able to empower those who would have liked 100% financing via a crypto loan when purchasing their home. With our crypto refinance, they can benefit from having access to their equity when they are attractive. investment opportunities are emerging,” said Josip Rupena, CEO and founder of Milo. “We will continue to pioneer this space and help individuals diversify their crypto wealth with real estate by creating unique offerings that are only possible with crypto.”
In addition to this crypto refinancing solution, Milo is pleased to announce the first unsecured crypto loan backed by the USDC. Following consumer demand and an attempt to expand this solution, it is now possible to borrow 100% of the property’s value by pledging only 40% of the loan amount in USDC.
“At Milo, we are on a mission to drive financial inclusion and our crypto loan can do that for so many crypto consumers. We knew from day 1 that a sub-collateralized crypto loan was needed and we are now one step closer to helping more customers with qualifying. to buy property.” said Rupena. “Many crypto consumers already earn and spend exclusively in the digital world. Our USDC offering simply helps these consumers build a bridge to the real world.”
Milo’s crypto refinancing offer comes on the heels of their recent milestone achievement 10 million dollars in crypto loans. This milestone demonstrates the strength of Milo’s innovative 30-year crypto-loan that first hit the market in April. Milo became the first company to offer a mortgage that combines the world of digital assets with traditional finance by allowing investors to qualify with Bitcoin, Ethereum and USDC.
About Milo
Milo is a financial technology company reimagining the way global and crypto consumers access financial solutions to “unlock the possible”. By building a proprietary technology stack from the ground up and bringing in a world-class team, the company has enabled millions of dollars in US mortgages. Milo is passionate about driving digital transformation of financial services, solving real problems and making a meaningful impact on people’s lives. For more information visit www.milocredit.com.
SOURCE Milo Credit
