Post
Topic
Board Project Development
Re: Obtaining a HOME MORTGAGE with Bitcoin Users
by
MortgageLeoBTC
on 10/02/2017, 19:18:17 UTC
Essentially, the main goal here is to get bitcoin users qualified for buying a home.
Two different ways I would approach this:

1) If the buyer has current income on W2 or self-employed and they want to setup the down payment through bitcoins, I help them with that. I just got a call from a bitcoin user stating that he has 2 year W2 but his down payment is coming from bitcoins that he had just sold. Some banks don’t like that and certain Loan Officers don’t know how to approach that scenario, but I could make it so that the funds from bitcoins being sold could be used as a source of down payment.

2) If someone has no income and a large amount of bitcoins, I help them into setting up a business that pays them monthly through the bitcoins (after selling them) and the buyer could get qualified with 1 year tax returns. You would need a business bank account and have the funds from the bitcoins being sold get deposited into your business bank account. Then, you pay yourself from the business account through checks or W2.