Illinois Crypto Mortgages | Qualify With Digital Assets

What Is a Crypto Mortgage?

A crypto mortgage allows borrowers to use eligible cryptocurrency holdings to help qualify for a home loan. While some programs require investors to pledge or lock up their digital assets, LendFriend Mortgage uses an asset depletion mortgage approach that converts eligible Bitcoin and Ethereum holdings into qualifying income.

Illinois crypto investors often prefer this approach because they can maintain ownership and flexibility without selling or locking up their tokens.

The home secures the mortgage and the crypto does not. Nothing is pledged or placed in custody, and a decline in Bitcoin after closing does not create a margin call tied to the property.

Crypto Mortgage Experts

We help Bitcoin and Ethereum investors use their digital wealth to qualify for a mortgage without selling or pledging their crypto. BTC and ETH holdings can be converted into qualifying monthly income through an asset-based mortgage program built for high-net-worth crypto investors.

No Tax Returns Required

Qualify using verified Bitcoin and Ethereum holdings without relying on W-2s, tax returns, or traditional employment income. Your BTC and ETH can support mortgage qualification while remaining invested and under your control.

Keep Your Bitcoin & Ethereum

Your crypto does not need to be pledged as collateral or locked up for the life of the mortgage. That means no margin calls, no forced liquidation tied to market swings, and no requirement to sell BTC or ETH simply to qualify for a home loan.

Fast Approvals Across Illinois

Get preapproved for a crypto mortgage in as little as 24 hours. We help Bitcoin and Ethereum investors finance primary homes, second homes, and investment properties across Chicago, the North Shore, and the western suburbs.

Don't Liquidate Your Crypto to Buy a Illinois Home. Avoid an Unnecessary Capital Gains Event.

Traditional mortgage guidelines may require Bitcoin or Ethereum to be converted to cash before those assets can be used for qualification or closing. That can mean selling an investment you would rather continue holding.

LendFriend helps qualified Illinois borrowers purchase a home using eligible Bitcoin or Ethereum holdings, without selling their crypto and realizing capital gains from that sale.

Keep your crypto invested. Maintain exposure to Bitcoin or Ethereum instead of liquidating long-term holdings to qualify for a mortgage.
No forced liquidation. Use eligible crypto assets for mortgage qualification while maintaining ownership and flexibility.
Avoid an unnecessary taxable sale. Keeping your BTC or ETH invested can help you avoid realizing capital gains simply to obtain financing.

Whether you are looking for a Bitcoin mortgage or using Ethereum to qualify for real estate financing, LendFriend helps turn digital wealth into homebuying power in Illinois while allowing you to keep your crypto.

Winnetka Buyer Qualifies on Trading Wealth

A $3M purchase needed a $2.2M mortgage. The file was built around a trader with a deliberately modest salary, and asset depletion converted eligible Bitcoin and Ethereum holdings into the qualifying income required. Nothing was sold.

Lincoln Park Buyer Bridges an Income Gap

A $1.3M purchase with $1M in financing came together for a borrower whose salary alone fell short. Eligible crypto holdings produced the qualifying income through asset depletion, and the position stayed invested through closing.

Hinsdale Family Qualifies After a Business Sale

A $1.4M mortgage on a $1.9M home closed for a couple holding sale proceeds and crypto. Asset depletion turned eligible Bitcoin and Ethereum into qualifying income, with no sale and no pledge required.

Lake Forest Second Home Financed Without Liquidation

A $1.6M home needed $1.2M in financing for a buyer using crypto and retirement assets. The qualifying income came from eligible crypto through asset depletion rather than from a liquidation.

Who Are Crypto Mortgage Solutions Right For in Illinois?

Long-term Bitcoin and Ethereum holders with significant digital asset portfolios who want to buy a home without selling or locking up their crypto.
W-2 borrowers looking to increase their homebuying budget by using eligible BTC or ETH holdings to supplement traditional employment income.
High-net-worth individuals with wealth spread across crypto, brokerage accounts, retirement funds, and other eligible assets.
Crypto investors diversifying into Illinois real estate who want to preserve their Bitcoin or Ethereum position while financing a primary home, second home, or investment property.
Retirees, founders, and entrepreneurs with substantial assets but limited traditional income documentation, including trading and fund professionals, business owners, and North Shore families.

Crypto mortgage programs can work for borrowers with little traditional income and for high-earning W-2 buyers who simply want their Bitcoin or Ethereum wealth to help them qualify for a larger mortgage.

Crypto Mortgage Solutions Across Illinois

LendFriend helps Bitcoin and Ethereum investors across Illinois qualify for mortgages without selling or pledging their crypto. Eligible BTC and ETH holdings can be converted into qualifying income through asset-based underwriting, allowing borrowers to preserve ownership and flexibility while financing real estate.

In Chicago, we finance purchases in Lincoln Park, Streeterville, and the West Loop, where higher price points often call for Illinois jumbo loans.
Buyers in Winnetka, Lake Forest, and Evanston throughout the North Shore use the same asset-based structure, where buyers often use Chicago North Shore jumbo loans.
We also work across the western suburbs, including Hinsdale, Naperville, and Oak Brook, frequently alongside our Illinois asset depletion program.

We also close crypto mortgages in Glencoe, Barrington, and Lake Bluff. When a different structure produces a stronger approval, our Illinois home loan programs can work alongside your digital assets.

Crypto Asset Depletion Mortgage

With asset depletion, eligible Bitcoin, Ethereum, cash, stocks, retirement accounts, and other assets can be used to calculate qualifying income for a mortgage. Your crypto helps you qualify without being pledged against the home loan.

Pros

Keep Bitcoin and Ethereum invested instead of selling to qualify
No crypto collateralization, margin calls, or forced liquidation after closing
Maintain control of your crypto while using it to support mortgage qualification
Access long-term mortgage financing, including 30-year fixed-rate options
Combine crypto and other eligible assets with W-2 income or other qualifying income to increase your purchasing power

Cons

Crypto and other non-cash assets are typically discounted when calculating qualifying income
You still need sufficient funds for the down payment, closing costs, and required reserves
Assets used for the down payment may reduce the assets available for qualification

Crypto Collateralization

Collateralization allows you to borrow against Bitcoin or other eligible cryptocurrency by pledging the crypto as security for a separate loan, while preserving ownership and potentially avoiding an immediate taxable sale.

Pros

Can also access cash without immediately selling Bitcoin
Potential financing up to 100% LTV by using pledged crypto as additional collateral for the mortgage

Cons

Bitcoin or other crypto must be pledged or locked as collateral during the term of the mortgage
Borrowers may need roughly 2x the crypto value of the amount being borrowed
Interest rates and borrowing costs can be substantially higher than asset depletion loan financing
Crypto price declines can trigger additional collateral requirements or forced liquidation
Shorter loan terms can create added repayment or refinancing pressure

Which Option Is Better for a Illinois Crypto Mortgage?

For most qualified Bitcoin and Ethereum investors seeking long-term home financing in Illinois, asset depletion offers significant advantages. Eligible crypto can help support mortgage qualification while remaining invested, and the home secures the mortgage rather than your Bitcoin.

Collateralization can still be valuable when you need liquidity. A borrower with substantial Bitcoin but limited cash could use a smaller collateralized crypto loan for the down payment while using asset depletion for the larger mortgage.

That approach keeps the higher-cost crypto debt limited while allowing the majority of the home purchase to be financed with a long-term crypto mortgage.

“Outstanding Experience with LendFriend! I just closed on my home with LendFriend, and the whole process was fantastic. The team was professional, super responsive, and genuinely cared about making things easy for me. They explained every step clearly, answered every question, and turned what can be a stressful experience into something completely smooth.

What truly stands out is how forward-thinking they are--they accept cryptocurrency holdings as proof of assets/income, which made qualifying a breeze for me in ways traditional lenders couldn't. Communication was excellent, they locked in a great rate, closed right on schedule with zero hidden fees, and the online portal was incredibly user-friendly.

If you're looking for a modern mortgage lender that truly puts customers first and embraces crypto, go with LendFriend. I'll be recommending them to all my friends and family--thank you for helping make my dream home a reality!”

“I had a phenomenal experience working with Eric, Morgan, and Crystal at LendFriend and cannot recommend them enough. They helped me secure an asset depletion mortgage (30 year fixed rate), allowing me to qualify using my Bitcoin and Ethereum holdings.”

“LendFriend helped me buy my home using my Bitcoin to qualify. I first spoke with a few lenders that my friends recommended to see if I could get a mortgage without selling my Bitcoin and they all turned me down. So, I asked ChatGPT who does crypto mortgages and found these guys.

Eric was available 24/7, knew what he was doing and answered all my questions. They got me closed early, and my wife and I love our house. Highly recommend LendFriend!”

“LendFriend Team, I wanted to express my gratitude for your professionalism and guidance in securing the financing for our new home.

The world of mortgages felt overwhelming and honestly in my current position I was almost about to give up, but you made it possible with a clear process and super straightforward.

We were impressed with your ability to secure loan (Non-QM/Asset-based), I looked around and there are very few who are interested in posting these type of loans, and I know there are a lot of people like me out there.

The clarity and responsiveness were a huge comfort. We truly appreciate your hard work in making our home-ownership dream a reality.

I look fwd working with you in the future. Thank you again.”

“Michael and team take care of their customers and find you the best deal for your situation. This is old school white glove service with a modern 24/7 email/text flavor.

Highly recommend them!”

“Eric and his Team were super professional, knowledgeable, timely, and friendly! They made their part of the home buying process less stressful and an overall enjoyable experience. We have already referred them to others who have had similar experiences. We look forward to working with them in the future.”

What is a crypto mortgage in Illinois?

A crypto mortgage is a home loan that allows you to use your cryptocurrency holdings, such as Bitcoin or Ethereum, as a factor in qualifying for a mortgage.

Some lenders require that you pledge your crypto as collateral. LendFriend does not.

We treat your crypto holdings as qualifying income. That means no portfolio pledging and no capital gains tax, a more flexible approach than what most crypto mortgage lending companies offer.

Can you use Bitcoin to buy a house in Illinois?

Yes, you can buy a house with Bitcoin, though not by paying the seller directly. LendFriend uses an asset-backed model where your crypto counts as qualifying assets. You only convert what is needed for the down payment and closing, keeping the rest invested and avoiding collateral risk, margin calls, and unnecessary taxes.

Can I combine crypto asset income with other income sources such as a job or rental income?

Yes. You can use multiple sources of income along with crypto asset depletion income, including W-2 income, rental income, or retirement benefits. Combining them can help you qualify for a larger crypto mortgage or improve your debt-to-income ratio.

Do I need to sell my Bitcoin or Ethereum to qualify for a loan in Illinois?

No. Our crypto mortgage programs let you qualify without selling your digital assets. Instead of selling your crypto, you leverage it to buy a house, which lets you avoid capital gains tax while still using your crypto wealth toward a Illinois home.

Can I qualify if my crypto assets are held in a trust or custodial account?

Yes. As long as you can prove access and control over the account, your crypto is eligible, including assets in a custodial trust or a Coinbase Institutional wallet. This is common among high-net-worth investors using structured trusts or cold storage.

What happens if my crypto drops in value during the loan process?

If your crypto-backed assets change significantly, whether from withdrawals or market volatility, it may affect your loan value or approval. We recommend keeping balances stable until your loan closes, and you can trade freely after that. Your crypto mortgage lender will explain what is considered a safe threshold.

How does a crypto mortgage compare to a short-term loan from a crypto lender like Unchained?

Loans from platforms like Unchained are short-term liquidity tools, not long-term housing solutions. They are typically structured as 1-year terms, often around 15% interest, with significant origination fees. Borrowers also face full collateralization requirements and ongoing price risk, since a drop in crypto values can require additional collateral or force liquidation.

Crypto mortgages are built differently. They offer long-term 30-year structures with rates near conventional mortgage rates and no margin calls. Crypto supports qualification or reserves instead of being locked up at aggressive loan-to-value thresholds, and there is no need to refinance every 12 months.

For borrowers who used a crypto loan for speed or temporary liquidity, a crypto mortgage can be the next step, replacing an expensive short-term structure with stable home financing that keeps the crypto intact.

What credit score do I need to get approved?

Crypto mortgage programs require a 700+ credit score, since these are non-QM loans designed for high-net-worth borrowers using alternative income documentation. For the best pricing, aim for a 780+ credit score.

What is the minimum down payment required with a crypto mortgage?

Lenders typically require a down payment of at least 20% when purchasing a home with a crypto mortgage. Because the down payment and closing costs are subtracted from your assets before the income calculation, the amount you put down also affects qualification.

What is the maximum loan amount for a crypto mortgage in Illinois?

Crypto mortgage loan amounts can reach up to $10 million, depending on your Bitcoin or Ethereum holdings, credit profile, down payment, property, and selected lender. For higher-priced Illinois homes, borrowers can use jumbo loans and jumbo asset depletion loans to qualify for larger amounts using eligible assets instead of relying solely on traditional income.