Re: Using Bitcoin as down payment funds to purchase a new home with a mortgage...
Hi Everyone, this is just a new 2018 update.
I know this thread has gotten a little old, but it has gotten a lot of interest. Recently Fannie Mae and Freddie Mac have updated their guidelines to be a little more bitcoin friendly.
I currently have another 2 clients pre-approved that are working towards using Bitcoin for their down payment. The Main difference now is that we do not have to have the USD sitting in the account for a month after the sale of the BTC.
If we can clearly papertrail the purchase of the Bitcoin, the sale of the Bitcoin (or Bitcoins), and match the corresponding deposit into your bank, the proceeds of the Bitcoin can now be used without having to season the funds.
If you have bought a home recently, or are currently trying to go through the process, you know exactly what I am talking about. Please feel free to send me a PM.
Sorry I haven't been as active on this forum lately, but I will be frequently checking my PMs, as I have been able to help a few people already
I know this thread has gotten a little old, but it has gotten a lot of interest. Recently Fannie Mae and Freddie Mac have updated their guidelines to be a little more bitcoin friendly.
I currently have another 2 clients pre-approved that are working towards using Bitcoin for their down payment. The Main difference now is that we do not have to have the USD sitting in the account for a month after the sale of the BTC.
If we can clearly papertrail the purchase of the Bitcoin, the sale of the Bitcoin (or Bitcoins), and match the corresponding deposit into your bank, the proceeds of the Bitcoin can now be used without having to season the funds.
If you have bought a home recently, or are currently trying to go through the process, you know exactly what I am talking about. Please feel free to send me a PM.
Sorry I haven't been as active on this forum lately, but I will be frequently checking my PMs, as I have been able to help a few people already