Quote from: alecmerkel on July 23, 2014, 07:40:01 PM

I was talking to my friend who is a very successful mortgage broker in Miami. Has her own company and made it through the market crises just fine with her business still in tact. Let's say you make a good amount of money trading coins, mining, and doing all the typical crypto stuff. How will you be able to show proof of income to a bank in order to get loans for a house?

Is crypto trading a legit form of income as of yet? I believe it is, yet I feel many main stream people still don't understand. I would like some help on how I would be able to explain this to someone in better term.

I am a beginner when it comes to BTC so please go easy on me if this seems like a dumb question.

I've been in the lending business for over 10 years...

BTC gains would be hard to use as income because it would have to be shown as capital gains. Capital gains is the hardest form of income to use towards qualifying income on full documentation loans because Underwriting knows that these gains can massively swing from year to year.

Most underwriters are going off of a 2 year average, but if you are trying to use capital gains as income, you may need to show consistency over a longer period of time than that. Also if your gains go up from one year to the next by more than 30% then you will have additional issues.

Most often if you are trying to use capital gains you will need to go with a portfolio loan rather than your typical Fannie Mae or Freddie Mac loan...