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I recently put a down payment on a house using a windfall from crypto. It was not easy: mortgage brokers need to do AML due diligence on all cash sources lookin
by csharpminor 5y ago
I recently put a down payment on a house using a windfall from crypto. It was not easy: mortgage brokers need to do AML due diligence on all cash sources looking back at least six months.
I used a major crypto exchange to sell and convert my holdings into USD, but frustratingly they did not provide adequate documentation to show how the funds were contributed and transferred. I needed to email the exchange's support team, escalate multiple times, and finally they sent me a series of screenshots. The delay almost caused my offer to fall through.
This would have been much easier if I could have transferred crypto directly to the mortgage company.
- jtaft 5y agoCongrats :)