Griffin Funding is a non-QM lender that accepts Bitcoin holdings as reserves and asset depletion income — ideal for self-employed crypto holders with non-traditional income documentation.
Griffin Funding is one of the most accessible crypto-friendly mortgage lenders in the US. As a non-QM lender, they underwrite loans for borrowers whose primary wealth is in Bitcoin and other cryptocurrencies — accepting crypto holdings as assets, reserves, and down payment sources (after liquidation). If you have significant Bitcoin wealth but an unconventional income profile, Griffin is worth a serious look.
The tradeoff: their crypto mortgage requires you to sell Bitcoin to fund the down payment (they accept the USD proceeds, not Bitcoin directly). If you want a loan where your BTC stays intact as collateral, look at Milo or Ledn instead.
Griffin Funding is a direct mortgage lender founded in 2015, headquartered in San Diego, California. They specialize in non-QM (non-qualified mortgage) lending — a category designed for borrowers with non-traditional income documentation.
Standard mortgages (conforming/QM loans) require W-2 employment income documented in specific ways. Non-QM loans use alternative documentation:
For Bitcoin holders — many of whom are self-employed, have irregular income, or hold most wealth in an asset rather than W-2 salary — non-QM is often the right mortgage category.
Griffin Funding accepts cryptocurrency holdings in two key ways:
Mortgage lenders want to see that you have cash reserves after closing — typically 6–12 months of mortgage payments. Griffin will count cryptocurrency holdings as reserves, after applying a haircut (discount factor) to account for volatility. Typical haircuts are 30–50% of the current value.
Example: You have 2 BTC worth $170,000. After a 40% haircut, Griffin counts $102,000 as eligible reserves.
If your primary wealth is in Bitcoin rather than earned income, Griffin can use asset depletion methodology to calculate qualifying income. This divides your liquid assets by a divisor (typically your remaining loan term in months) to generate an imputed monthly income figure.
Example: $500,000 in Bitcoin holdings ÷ 360 months = $1,389/month imputed income. Combined with any actual income, this can qualify you for a mortgage even without traditional W-2 employment.
Griffin accepts down payments funded by cryptocurrency liquidation. You sell Bitcoin on an exchange, transfer USD to your bank account, and the paper trail documents the source of funds. This satisfies the "source of funds" requirement that mortgage lenders must verify.
Griffin offers several loan types relevant to Bitcoin holders:
Bank Statement Loans
Asset Depletion Loans
DSCR Loans
Jumbo Non-QM
Non-QM loans price at a premium to conventional mortgages:
| Feature | Griffin Non-QM | Conventional |
|---|---|---|
| Rate premium | +1–3% above conventional | Baseline |
| Down payment | 10–20% minimum | 3–20% |
| Loan term | 15 or 30 year | 15 or 30 year |
| Crypto reserves | Counted (after haircut) | Not accepted |
| Self-employed | Bank statements OK | 2 years tax returns |
| Crypto down payment | OK (documented proceeds) | Varies by lender |
In 2026 with conventional 30-year rates around 6.5–7%, a Griffin non-QM loan might run 8–9.5%. The premium is the cost of flexible underwriting.
Pre-qualification: Provide Griffin with a summary of assets (including crypto holdings), income, and target property price. They'll assess which loan product fits.
Document crypto assets: Provide 2-3 months of cryptocurrency exchange statements showing your holdings and the account in your name.
Sell Bitcoin for down payment: When you're ready to make an offer, liquidate the needed amount on your exchange. Transfer to your bank account.
Document the paper trail: Provide the exchange transaction confirmation, bank statement showing the deposit, and exchange account statement showing the sale. This satisfies the "source of funds" requirement.
Underwriting: Griffin reviews your full application — assets, income, employment, credit.
Closing: Standard mortgage closing process.
For a guide to buying a home without selling all your Bitcoin, see Bitcoin as a Down Payment Guide and Bitcoin-Backed Mortgage: How to Buy a House Without Selling BTC.
| Feature | Griffin Funding | Milo | Ledn Mortgage |
|---|---|---|---|
| Bitcoin stays intact | No (must sell for down payment) | Yes (BTC as collateral) | Yes (BTC as collateral) |
| Loan type | Non-QM mortgage | Crypto-backed mortgage | Bitcoin-backed mortgage |
| Rates | 8–9.5% | Higher (collateral risk premium) | Higher |
| Income requirement | Flexible (bank statement, asset depletion) | Minimal | Minimal |
| US availability | 40+ states | Most states | Select states |
| Best for | Self-employed, high-net-worth crypto holders | Preserving BTC stack while buying home | European + US borrowers |
Pros
Cons
Ideal for:
Look elsewhere if:
Does Griffin report to credit bureaus? Yes. Like all mortgage lenders, Griffin reports payment history to the major credit bureaus.
What states does Griffin serve? Griffin operates in 40+ states. Check their website for your specific state.
Is there a minimum credit score? Non-QM minimums are typically 620–640 FICO, compared to 620+ for conventional. Higher scores access better rates.
Can I use cryptocurrency held in a cold wallet as assets? Yes — provide a signed message proving ownership of the wallet address or a statement from your custody solution. Griffin's team has experience with this documentation.
What's the typical closing timeline? Non-QM loans take 30–45 days to close, similar to conventional mortgages.
Griffin Funding is the right mortgage lender if you have significant Bitcoin wealth with non-traditional income documentation — self-employed, business owner, or asset-rich with minimal W-2 salary. Their non-QM products handle crypto reserves and asset depletion in ways that conventional lenders won't.
The limitation is that you must sell Bitcoin for the down payment. If preserving your BTC stack while buying a home is the priority, explore the best Bitcoin mortgage lenders for collateral-based options that let your Bitcoin stay intact.
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