Bill would let cryptocurrency count toward mortgages, aiming to help younger buyers 

President Donald Trump and Federal Housing Finance Agency Director Bill Pulte’s efforts to expand mortgage access are gaining momentum, with new legislation that would allow cryptocurrency assets to be considered when applying for a home loan.

The move comes just weeks after Pulte announced he was enforcing a 2018 Trump directive allowing mortgage lenders to accept either FICO credit scores or VantageScore alternatives, which include rental and utility payment histories. The change is expected to broaden mortgage eligibility.

Both steps aim to improve access to homeownership, with the cryptocurrency bill targeting younger Americans who are more likely to use digital currencies to build wealth outside traditional financial systems.

“Homeownership for Americans under 35 reached historic lows, but simultaneously, this demographic has embraced digital assets as their primary wealth-building strategy,” said Sen. Cynthia Lummis, R-Wyoming, who introduced the 21st Century Mortgage Act on Tuesday. “This legislation codifies Director Pulte’s directive to consider cryptocurrency as an asset for single-family loans.”

If passed, the act would require Fannie Mae and Freddie Mac – which underwrite more than 60% of U.S. home loans – to formally consider unconverted digital assets such as bitcoin and other cryptocurrencies. Currently, those assets must be converted into dollars to count toward mortgage eligibility.

Pulte last month directed the housing finance agencies to study how to include cryptocurrency in the mortgage process. Pulte said Lummis’ bill is a direct response to that directive.

The bill “embraces an innovative path to wealth-building, keeping in mind the growing number of young Americans who possess digital assets,” the senator added. “We’re living in a digital age, and rather than punishing innovation, government agencies must evolve to meet the needs of a modern, forward-thinking generation.”

Several Democratic senators have already signed a letter opposing the change, but Republicans currently hold narrow majorities in both the House and Senate.

In a related update, Pulte announced Wednesday that Fannie Mae had cut expenses by 15% since the first quarter, yielding $256 million in savings. The public-private company also reached $100 billion in net worth.

“Fannie Mae gets stronger by the day,” Pulte posted on X. “We will continue operating the company as a for-profit enterprise so that we can drive down housing costs and deliver maximum value for the American people.”