Better Mortgage has opened applications for a home loan that lets US buyers use Bitcoin towards their deposit without selling it.

Coinbase provides custody for the Bitcoin, while Better handles the lending. The product has now moved beyond its earlier trial, but borrowers must provide more Bitcoin than the amount they receive.

Bitcoin can cover the deposit

A crypto-backed mortgage through Better involves two connected loans.

The first is a conventional mortgage that meets Fannie Mae’s requirements, while the second supplies the cash needed for the deposit and is secured by the borrower’s Bitcoin. It also places a second claim on the property.

According to details on Better’s product page, a buyer seeking a $100,000 deposit loan…