Post
Topic
Board Bitcoin Discussion
Re: Using Bitcoin as down payment funds to purchase a new home with a mortgage...
by
keithers
on 08/03/2018, 23:30:53 UTC
A mortgage traction like that happened in the Seattle area not long ago: https://www.seattletimes.com/business/real-estate/bitcoin-like-cryptocurrency-used-to-buy-home-in-tukwila-likely-a-first-for-seattle-area-market/.  Before the transaction closed, the crypto was converted to USD.

On another note, check out the ICO for RLCoin, an enterprise solution for loyalty: www.rlcoin.io.  The product has traction with 250 clients and partners in Europe and Asia.

Unfortunately, everyone is a LONG way off from just being able to send in BTC (or any other crypto) directly to an escrow company as the down payment (if you are trying to obtain a loan).   The big jump that we were just able to make was the ability to sell the BTC and use it for down payment funds without having to leave the USD sitting in your bank for 2 monthly statements (which was generally required) for any conventional, FHA, or VA loan.  

I know that sounds like a tiny step, but anyone who has purchased a home in the USA in the past few years can vouch for the typical difficulty of going through the Underwriting process.