Financing your crypto mortgage loan on Ethereum
Finance the purchase of an NFT tokenized real-world property, with a crypto mortgage loan as little as 20% down.
Finance the purchase of an NFT tokenized real-world property, with a crypto mortgage loan as little as 20% down.
Fill out and submit the “Apply for a loan” form in USDC homes.
You will receive an email with instructions to send your credit report and other relevant documents.
After sending the documents, we will share you the underwriter’s wallet address to pay for the fee.
The underwriter creates a report, if positive, you will receive your loan terms and be added to USDC Homes pool.
All properties shown are for investment purposes only.
Want to buy an investment home using crypto.
Have most of their funds in crypto.
Want to invest in residential property.
Earn a living with crypto.
Use your crypto assets to purchase real-world assets without having to sell your crypto.
Get a one-time underwriter assement to access multiple pool opportunities.
Skip the middleman with a transparent, on-chain process.
USDC Homes is a DeFi marketplace for investment home buyers to attain crypto native financing.
Underwriters and data providers verify your identity and creditworthiness for lenders.
Liquidity providers can lend to investment home buyers through the USDC Homes pool on Teller protocol.
The borrowers are considered to have defaulted on the loan if they miss the loan payments for 3 consecutive months. In this case, the NFT will be transferred from the multi-sig to the lender’s private wallet.
The multi-sig wallet would require 2 out of 3 owners (borrower, pool owner & lender) to sign the transaction. After the transaction, the lender will have the complete ownership of the NFT and thus, the home property. The lender can decide whether to continue to own the property or sell it to another buyer.
The LLC owner is the wallet that has access to the NFT through a private key of the member wallet address. In this use case, the member wallet address is a MultiSig wallet.
The lender is a co-owner of this multi-sig wallet, which gives them full transparency over the LLC assets. For any change to implement on the assets or NFTs stored in the MultiSigWallet, lender’s approval will be required.
The Rightful owner of the LLC (NFT) possesses the private key of a MultiSigWallet (as per LLC Agreement), to which the lender also has access to. Any changes in the ownership of LLC and, henceforth, the property cannot be completed without the lender’s approval.
The LLC in Wyoming is incorporated in such a manner that the changes to the ownership between LLC & the property are prohibited.
Lenders can check Zillow, one of America’s top tech real-estate marketplace, to learn about the estimated value of the properties listed on Roofstock onChain marketplace. For example, the estimated value property in Columbia, South Carolina we discussed above can be found here.
Loan terms are determined mutually between the borrower who submits a loan request and the lender who is willing to accept the terms. There will be multiple borrowers & lenders in the marketplace looking for terms that would be acceptable for both parties.
Like the bid and ask orders in the orderbooks meet, the transaction takes place whenever the lender and borrower agree with each other on the terms.
© Copyright 2022 Clarity XV Labs
Legal disclaimer: These properties are for investment purposes only.
