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Would You Like To Pay Your Mortgage With Bitcoin?

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Compare Closing LLC

United Wholesale Mortgage, is now planning to accept bitcoin for mortgage payments.

Mat Ishbia CEO of the nation’s second-largest mortgage lender, told that many of its customers hold crypto, so now UMW will let them use it to pay their mortgages.

Ishbia said, UWM is an advanced leader, innovator, and tech company in the mortgage space, and close to one million customers pay UMW each month as they are also loan services and a lot of customers have a good amount of cryptocurrency so they have decided on accepting bitcoin.

Though it is not very clear what is motivating the company to do that. Speculations are that since UWM can proclaim themselves as the first mortgage lender to accept bitcoin as payment, they would be a step ahead of the competitor Rocket Mortgage and that would be a win.

Because of its extreme volatility, many believe bitcoin is a dreadful currency to use for payment.

For instance, you could pay your mortgage today with bitcoin worth $2,000 in a few days or even hours to see its value rise to $3,500.

But, what uses is an asset if it can’t help you when you need it the most!

Reference Source: TheTruthAbout Mortgage

https://www.compareclosing.com/mortgagenews/would-you-like-to-pay-your-mortgage-with-bitcoin/

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