Token-Backed Mortgage Program Terms and Conditions

Better Home & Finance Holding Company and its affiliates (“Better”), including Better Mortgage Corporation (“Better Mortgage”), are not affiliated with Coinbase, Inc. or its affiliates (“Coinbase”) or any cryptocurrency issuer, protocol or any other exchange.

Mortgage services and program benefits are provided exclusively by Better Mortgage and are not provided, underwritten, or serviced by Coinbase or any other digital asset platform. Coinbase is not a mortgage lender or mortgage broker. This program does not constitute an endorsement, referral, or recommendation of Better Mortgage by Coinbase or any digital asset provider.

This is not a commitment to lend, nor a guarantee that you will be approved for a mortgage loan. All loans are subject to credit approval, underwriting, and applicable law.

The Program (defined below) may be modified, suspended, or discontinued in whole or in part at any time without notice.

1. Program Overview

The Token-Backed Mortgage Program (the “Program”) is a program that allows qualified customers to pledge as collateral a subordinate lien in residential real estate, and certain digital assets (“Eligible Tokens”), in order to obtain financing for a cash downpayment (the “Downpayment Loan”) in connection with obtaining a residential purchase mortgage loan to acquire such residential real estate (the “Token-Backed Mortgage Loan”).

Disbursement of any Downpayment Loan is contingent upon the customer successfully qualifying for and closing on the Token-Backed Mortgage Loan.

2. Eligibility Requirements

To be eligible for the Program, customers must:

Have a minimum FICO score of 680 and meet all Fannie Mae conforming loan eligibility requirements;
Create and access a Better Mortgage account via the dedicated URL (INSERT URL);
Transfer a sufficient amount of Eligible Tokens (as determined by Better Mortgage in its sole discretion) to Better Mortgage’s custodial account.
Complete a mortgage application for a property located in an eligible jurisdiction;
Meet all underwriting, income, asset, and property requirements; and
Successfully close on the Token-Backed Mortgage Loan.

Better reserves the right to determine, in its sole discretion, which digital assets qualify as Eligible Tokens and applicable collateral valuation methods.

3. Collateral Valuation and Advance Rate

Eligible Tokens will be valued at a discount to market value (the “Advance Rate”), which may vary based on:

Asset type
Market volatility
Liquidity
Other risk factors.

Eligible Tokens are valued as:

BTC at 40% of market value.
USDC at 80% of market value

Advance Rates are subject to change at any time without notice.

4. Downpayment Loan Terms

The Downpayment Loan:

Carries the same interest rate and repayment term as the Token-Backed Mortgage
Is secured by pledged Eligible Tokens (the “Pledged Eligible Tokens”) and a second lien on the residential property.

Better Mortgage may modify rates, terms, and structures at any time.

5. Restrictions on Pledged Eligible Tokens

Upon closing:

Pledged Eligible Tokens may not be sold, transferred, re-pledged, or otherwise encumbered without Better Mortgage’s prior written consent;
Pledged Eligible Tokens are subject to custody arrangement;
Customers may lose the ability to use the Pledged Eligible Tokens during the pledge period.

If Pledged Eligible Tokens are converted, exchanged, or otherwise disposed of (with or without consent), Better may have rights to the resulting proceeds.

6. Default and Liquidation

If you default on your Downpayment Loan:

Better Mortgage may sell, liquidate, or otherwise dispose of Pledged Eligible Tokens;
Better Mortgage may take control of such assets or accounts;
You may lose all or a portion of your Pledged Eligible Tokens.

You may incur significant financial loss, including loss of appreciation and adverse tax consequences.

7. No Investment or Financial Advice

Nothing in this Program constitutes: -

Financial advice
Investment advice
Tax advice
A recommendation to hold, pledge, or acquire Eligible Tokens

Better Mortgage is not acting as a broker-dealer, investment advisor, or cryptocurrency exchange.

You should consult your own advisors before participating in the Program.

8. Tax Considerations

Use of Pledged Eligible Tokens as collateral may have tax implications.

Liquidation of Pledged Eligible Tokens may result in taxable events.

Better Mortgage does not provide tax advice.

9. No Guarantee of Benefits

Statements such as “$0 cash down” or similar benefits are illustrative and may not apply in all circumstances.

Actual outcomes depend on asset values, loan structure, tax treatment, and individual circumstances.

10. Program Availability

The Program may be available only in select states and jurisdictions and is subject to applicable law.

11. Compliance and Non-Endorsement

Nothing in this Program constitutes an endorsement of any cryptocurrency, exchange, or digital asset.

Better Mortgage will comply with all applicable laws including Regulation Z, ECOA, and UDAAP.

12. Modification and Termination

Better Mortgage reserves the right to modify, suspend, or terminate the Program at any time without notice.

13. Equal Housing Lender

Better Mortgage Corporation is an Equal Housing Lender and does not discriminate in lending.

14. General Disclosures

Rates, terms, and conditions are subject to change.

All loans are subject to underwriting approval.

Better Mortgage Corporation, NMLS #330511.