U.S. Senator Cynthia Lummis introduced the 21st Century Mortgage Act on July 30, 2025, aimed at including crypto assets in mortgage eligibility, opening new avenues for homebuyers with digital assets.
Introduction of the Bill
The 21st Century Mortgage Act seeks to define the inclusion of crypto assets in mortgage eligibility criteria, particularly benefiting younger buyers who own digital assets. The bill requires Fannie Mae and Freddie Mac to consider assets like Bitcoin in risk assessments.
Impact on Young Buyers
The legislation allows digital assets held for over two years to be included in mortgage eligibility, potentially alleviating financial pressure on crypto holders, especially younger individuals, thus making the bill timely given the increasing number of young Americans possessing digital assets.
Potential Changes in the Housing Market
Should the bill pass, it may lead to significant changes in mortgage lending and the housing market. It involves alterations in how financial assets are evaluated and may increase housing accessibility for young Americans. Senator Lummis remarked, 'The American dream of homeownership is not a reality for many young people. This legislation embraces an innovative path to wealth-building.'
Senator Lummis's bill could result in a transformation of mortgage assessment processes and the inclusion of digital assets in the property market. This offers promising opportunities for young Americans to achieve homeownership.
