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1  Bitcoin / Legal / BTC/Mortgage Related Question on: August 01, 2017, 10:47:53 PM
I know there a plenty of topics covering how to use BTC when seeking a mortgage loan, but after searching high and low I didn't see anything related to my specific issue. Any help is greatly appreciated.

I'm currently in the process of purchasing a new home. Naturally, our broker has requested the standard loan approval docs such as bank statements, paystubs, W2, etc. -- Over the last few months, I've had a small portion of my pay direct deposited to a separate checking account that i use to purchase BTC through coinbase to dabble in online gambling. In total, we're talking about $500 over the course of 2-3 months. Only about $40 of that amount remains and the rest I've lost. - It was fun to try it out, but I'm not particularly interested in pursuing it any further.

My concern is about the coinbase transactions listed on my recent bank statements. I imagine the loan officer will be more concerned with unexplained credits/deposits, which isn't the case here since I never had any winnings that I deposited back into USD to my account. That said, should I still expect the loan officer to request additional documentation about my coinbase transactions? My fear is they'll want proof that the coinbase transactions don't reflect undisclosed assets, which would require me to admit that I used them for online gambling.
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