Hey guys...I am in the mortgage banking industry.  I am currently working on a deal to incorporate bitcoin into the down payment funds for a new purchase home loan.

I haven't seen this done before.  Have any of you?   I have seen homes sell for 100% bitcoin, but that is the same as purchasing a home with cash.

We are in contact with Fannie Mae, and it looks like it can be done as long as the bitcoins are first converted into US dollars and then deposited into a US bank account.  If you know banking guidelines, then you know that most money has to be seasoned for 60 days before it can be used for down payment funds.  We may be able to get around this if you can clearly be able to source the ownership of the bitcoins and clearly document the sale of the bitcoins along with the deposit into your bank account (like with a coinbase transaction history).

Do any of you have experience with this, or would you like to hear how it works out?


Edit 2/19/2018:    With proper documentation (and sourcing), Bitcoin can now be used for down payment funds without having to sell the BTC and hold the USD in your bank account for 30-60 days.