Can Bitcoin Solve Miami’s Broken Homebuying Math? Milo Thinks So

Living in Miami, I've noticed a common challenge for many expats and digital nomads: the math just doesn't add up when it comes to buying a home. This is where Miami-based fintech company Milo comes in, offering a new approach to homebuying that could be game-changing for those with significant Bitcoin and other digital assets.

Milo's CEO, Josip Rupena, believes that with rising digital asset values, more people will be willing to take on higher monthly housing costs. He explains, 'We're finding that people that are coming in wanting to buy primary homes, they have Bitcoin, but then they also have, 'Can I get a lower rate?''

Milo has been working on expanding how customers can qualify for mortgages, exploring partnerships with larger financial companies, and looking into how it can bring down borrowing costs. Rupena notes, 'It’s still cheaper right now in a lot of geos to actually rent versus buy, but people are interested.' This is particularly true in Miami, where high-end home prices have remained strong.

For those with digital assets, the value of Bitcoin and other cryptocurrencies can give them the confidence to accept a higher monthly housing cost in exchange for putting down roots. Rupena says, 'Stronger Bitcoin prices can give prospective buyers the confidence to accept a higher monthly housing cost in exchange for putting down roots, especially if they believe they can refinance later.'

Milo is also considering expanding the assets it uses to help underwrite borrowers, including tokenized equities, although Rupena stresses that nothing is announced yet. He expects to have more meaningful product developments around affordability and asset expansion over the next two quarters.

The future of mortgage applications may look very different, with AI agents sifting through financial products based on a person's specific finances. Rupena explains, 'Everyone just assumes you can get a mortgage until you try to go get a mortgage, and then you realize everybody’s profile and financial situation is very, very unique.' This could lead to a more personalized and efficient mortgage application process.