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Decrypting Cryptocurrency for Non-QM Loans

Decrypting Cryptocurrency for Non-QM Loans

A&D Mortgage accepts verifiable cryptocurrency for down payments, closing costs, and reserves for all Non-QM loans.

 

How Your Clients Can Use Crypto
  • Reserves – Borrowers can use up to 90% of the cryptocurrency’s current value or up to 100% if it has been liquidated. The final valuation must be determined by the US exchange within 30 days from the Note date.
  • Down payment and closing costs – Cryptocurrencies must be liquidated and deposited into an established bank account before the closing date.
  • For clients choosing asset utilization options, the cryptocurrency can be used as a qualifying asset for income calculations. Your monthly qualifying income will be 90% of the cryptocurrency’s value divided by 60.