Michigan Crypto Mortgages | Qualify With Bitcoin

How Crypto Mortgages Work in Michigan

A crypto mortgage is a home loan that uses eligible cryptocurrency holdings to help you qualify. Rather than requiring 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.

Crypto investors across Michigan tend to prefer this because ownership and flexibility stay in place without a sale or a lockup.

Your home secures the loan. The crypto is not pledged, not held in custody, and not exposed to a margin call if the market falls after closing.

Crypto Mortgage Experts

Bitcoin and Ethereum investors work with us to turn digital wealth into mortgage qualification without selling or pledging anything. An asset-based mortgage program converts BTC and ETH holdings into qualifying monthly income for high-net-worth borrowers.

No Tax Returns Required

You can qualify on verified Bitcoin and Ethereum holdings instead of W-2s, tax returns, or employment income. The BTC and ETH supporting your file remain invested and under your control.

Keep Your Bitcoin & Ethereum

Your holdings are never pledged as collateral or locked up for the term of the loan. That rules out margin calls, forced liquidation during market swings, and any requirement to sell BTC or ETH to qualify.

Fast Approvals Across Michigan

You can be preapproved for a crypto mortgage in as little as 24 hours. We work with Bitcoin and Ethereum investors buying primary homes, second homes, and investment properties across Bloomfield Hills, Birmingham, and Ann Arbor.

Keep Your Crypto Invested While Buying a Michigan Home

Most conventional guidelines require Bitcoin or Ethereum to become cash before those assets count for qualification or closing. That forces a sale you may not want to make.

LendFriend helps qualified Michigan 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.

From Bitcoin mortgages to Ethereum-based qualification, LendFriend helps Michigan buyers turn digital wealth into homebuying power without giving up their holdings.

Bloomfield Hills Executive Qualifies Beyond the W-2

A $1.2M mortgage on a $1.6M home closed for an executive with deferred compensation and Bitcoin. Asset depletion turned eligible Bitcoin and Ethereum into qualifying income, with no sale and no pledge required.

Birmingham Entrepreneur Qualifies Between Ventures

A $1.25M home needed $950K in financing for a founder with no current business income. The qualifying income came from eligible crypto through asset depletion rather than from a liquidation.

Ann Arbor Buyer Combines Salary and Ethereum

A $1.1M purchase needed an $850K mortgage. The file was built around a buyer adding eligible Ethereum to university income, and asset depletion converted eligible Bitcoin and Ethereum holdings into the qualifying income required. Nothing was sold.

Traverse City Cottage Financed on Asset Income

A $1M purchase with $750K in financing came together for a buyer using crypto and brokerage assets. Eligible crypto holdings produced the qualifying income through asset depletion, and the position stayed invested through closing.

Is a Michigan Crypto Mortgage Right for You?

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 Michigan 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 auto and manufacturing executives, business owners, and northern Michigan cottage buyers.

A crypto mortgage can carry the entire qualification for borrowers with little traditional income, or supplement a strong salary to support a larger loan amount.

Crypto Mortgage Solutions Across Michigan

Bitcoin and Ethereum investors across Michigan can qualify for a mortgage without selling or pledging anything. Asset-based underwriting converts eligible BTC and ETH holdings into qualifying income, preserving ownership and flexibility while the purchase moves forward.

In metro Detroit, we finance purchases in Bloomfield Hills, Birmingham, and Grosse Pointe, where higher price points often call for Michigan jumbo loans.
Buyers in Ann Arbor, Saline, and East Lansing throughout Ann Arbor and East Lansing use the same asset-based structure, frequently alongside our Michigan asset depletion program.
We also work across northern Michigan, including Traverse City, Petoskey, and Harbor Springs.

We also close crypto mortgages in Rochester Hills, Northville, and Charlevoix. When a different structure produces a stronger approval, our Michigan 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 Structure Is Better for a Crypto Mortgage in Michigan?

Asset depletion is generally the better structure for long-term Michigan home financing. Eligible crypto supports qualification while remaining invested, and the property secures the mortgage rather than your Bitcoin.

Where collateralization earns its place is liquidity. A buyer holding significant Bitcoin but little cash can collateralize a smaller loan for the down payment while asset depletion carries the larger mortgage.

That keeps the more expensive crypto debt to a minimum while the bulk of the purchase runs on 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 Michigan?

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 Michigan?

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 Michigan?

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 Michigan 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 Michigan?

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 Michigan 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.