Fannie Mae and Freddie Mac, the two government-backed mortgage giants, are on track to reshape how Americans qualify for home loans. The Federal Housing Finance Agency (FHFA) has ordered both organizations to consider homebuyers’ cryptocurrency holdings as part of their risk assessments for single-family mortgages, a move that could open the door for digital asset investors to leverage their portfolios without first cashing out.
Historically, Fannie Mae (OTC: FNMA) and Freddie Mac (OTCQB: FMCC) have required that crypto assets be converted to U.S. dollars before being counted in mortgage reserve calculations. The new directive, issued by FHFA Director William Pulte, instructs the agencies to develop proposals that would allow certain crypto assets to count directly toward mortgage eligibility, provided those assets are held on U.S.-regulated, compliant exchanges.
Borrowers will not be forced to liquidate their crypto holdings or convert them to cash, which could trigger taxable events or force them to sell during market downturns. Instead, if the proposals are approved, digital assets like Bitcoin and other compliant cryptocurrencies could help buyers meet reserve requirements or strengthen their applications.
This shift comes as the U.S. housing market faces record-high sale prices and stubbornly elevated mortgage rates, making it harder for many buyers to qualify for loans. The FHFA’s move reflects both the growing mainstream acceptance of cryptocurrencies and political pressure to modernize financial rules. President Donald Trump has made no secret of his ambition to see the United States become a global leader in digital assets, and the FHFA’s directive echoes that vision.
Director Pulte, who took the helm at the FHFA in March, has been vocal about his belief that Americans who own cryptocurrency should have the same access to homeownership as those with more traditional assets. “I want people who own cryptocurrency to be able to buy homes like everyone else,” Pulte said in a recent post on social media.
The FHFA’s order is not a blanket approval for all crypto assets. Only holdings that can be verified on U.S.-regulated, centralized exchanges will be considered, and both Fannie Mae and Freddie Mac must design safeguards to account for the volatility of digital currencies. The agencies are required to submit board-approved proposals for how they will evaluate and adjust for the risks associated with crypto, including potential price swings.
Self-custodied assets, which are held in private wallets outside of regulated exchanges, will not be eligible under the current directive. This limitation may exclude some crypto-native users who value decentralization and privacy.
Fannie Mae and Freddie Mac are now tasked with drafting detailed plans, which must be approved by their boards and then reviewed by the FHFA. If implemented, this policy could influence private lenders as well, since the standards set by these agencies often become the benchmark for the broader mortgage market.
For now, the move signals a major evolution in how digital wealth is treated in the U.S. housing system.
