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My home mortgage lender didn't know how to document cryptocurrency as a source of funds.

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by COINS NEWS 13 Views

Recently, I was working with a local credit union on approving a home mortgage and they needed to document that I had the funds for a down payment. When I mentioned that my funds are currently in crypto, and I could sell them and deposit it in my account, they were stumped on how to document it. I ended up pulling the funds out of my 401k loan instead, as it was easier for them to document, and then I paid off that loan with crypto.

It reminded me of my days in highschool where the teachers didn't like websites to be used for citing a source because there wasn't an MLA format for it.

I have no doubt banks will jump on board eventualy. We are all early adoptors!

submitted by /u/masterbatesAlot
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