Become your own Bank

Is my outlook in line with what is realistic in the ‘become your own bank’ narrative that cryptocurrency provides? For example in the distant future a transaction occurs within the Ethereum blockchain where I purchase some property.

Me the buyer enters an agreement with the seller and a smart contract is written up with the parameters of the transaction set. I the buyer send my deposit to the smart contract in order for the smart contract to access a liquidity pool to finance the loan in order to pay the seller x amount to purchase the property.

Now that I have procured the property the parameters set within the smart contract state the x amount of loan, length of loan and the x amount of interest to be paid. If I default on repayments the smart contract takes ownership of the property and liquidates to return the funds back to the liquidity pool.

In this scenario the transaction is recorded on the immutable Ethereum blockchain ledger, the legitimacy of my ownership is stated on it and any future potential buyers have access to all prior transactions associated with the property. In the process of obtaining the loan the smart contract also has all subsequent information to determine if I qualify for the proposed loan amount. Such as (assets owned, wage, employment history, deposit amount) that is also stored on the ledger as a decentralised digital identification. Ethereum holders lend their assets through a liquidity pool to earn yield in scenarios where transactions like this take place. In the event of a default in loan repayment the property is the collateral which can provide liquidity and minimise risk for lenders.

Is this a realistic scenario in which we could see the Ethereum ecosystem (or subsequent copies) function or am I way off, clutching at straws?