Applying for a mortgage here. Lender is severely confused by my Robinhood (yeah I know, let it go) and Coinbase statements. I mean these apps hardly generate a proper statement, it’s mostly a printout of a webpage. Coinbase doesn’t even have anything called a statement. Have any of you had luck showing your crypto assets as liquid funds when applying for a mortgage? How aware are lenders of these exchanges and stuff? TC: 300k
Weird. I had a similar problem when I tried using my tulip fields to borrow some money.
Is that a reference? I don’t get it.
Ignorance is bliss.
Try US Bank or Wells Fargo. They won’t count your cryptos as liquid assists, but you can get an approval right after you cash out without waiting for funds to mature. With that being said I’m looking into borrowing against my crypto options atm.
Lol, cryptocurrency is not liquid assets dumdum
Yeah I agree it’s relatively small though, so best to pretend it doesn’t exist. They asked for assets so I provided everything I have.
Been through this last month during closing. Most bank don't take it. Some does but requires statement, the thing is most crypto exchange doesn't have statement so ended up no go. Easiest way is sell the crypto to cash 3 months before you going through under writing. They ask for 3 months statement and if your transaction happens before then, then they don't know and don't care
That’s years in crypto timescale. So they’re fine with closing statement of old house sale being 2 weeks old but crypto/stock nah.
They’re ok with stock because it represents real value. Crypto only has value if you can find another sucker to offload it onto
Since defi is exploding where do you guys see BAND future ? Will it be a challenger to LINK
Just borrow against your crypto in DeFi. Banks are about to die soon
Is that a thing already?
Isn’t the interest rate way higher than mortgage loans from banks?