Oh, I still have a mortgage. This was just to cover the down payment/closing costs. Crypto covered almost half of that for me. The ironic thing is that my lender said he wouldn't consider my crypto assets when calculating my loan limit because "crypto isn't traceable"... I'm like, dude, it is THE most traceable asset on the planet... Yall are just too lazy to figure it out. LOL.
Appreciate it! Everyone has their own moon. For the last 5 years mine has been buying a home in this insanely competitive market. Crypto helped me achieve that dream. Hardly feels real. I hid my crypto activity from my wife until a few months ago when the house search got super serious. She was very skeptical. Borderline upset. Now she's a believer since it put a roof over our heads, lol.
That's amazing. That's how things are supposed to be done. "Everyone has their own moon." Words to live by.
Zir would be more enthusiastic if His Magesty Musk would tweet about kitty coins instead of doggy meme coins.
This is common in real estate funding and it has nothing to do with some sort of bank bias against Crypto other than they don't understand how to look at blockchain transaction history. They want to be able to trace your income so they know you aren't up to any funny business and that you can prove that you can cover the mortgage payments. The alternative is having the USD funds in your bank for 90-120 days so it's 'aged'. It's a lesson in how backwards and behind the US financial system still is. OTOH, you can still fund a house purchase with DeFi if you're savvy enough.
