By Jack Dona ·
Fact Checked
Advertiser disclosure
On this page:
- What is cryptocurrency?
- So, will your crypto holdings factor into your lender’s loan decision?
- Can I use Bitcoin (or cryptocurrency) for a deposit or home loan repayment?
Cryptocurrencies like Bitcoin have seen major mainstream interest over the past few years.
With so many people including various cryptocurrencies in their investment portfolios, some amassing significant wealth, you might be wondering if your crypto holdings carry any clout when it comes to impressing the loan manager at the bank.
What is cryptocurrency?
Cryptocurrency is one type of crypto-asset, a cousin of Non-fungible Tokens (NFTs), and distantly related to Security and Utility tokens. Essentially, it’s digital money which usually isn’t backed by physical assets (like gold, for instance).
There are many reasons why cryptocurrency is so alluring, not least is the fact that its value can skyrocket, leading to quick (although risky) profit-making practices through trading. This is because its value is based on how much people are willing to actually pay for it - otherwise known as speculation.
Cryptocurrency is also usually decentralised, and purportedly boasts increased digital security through its use of blockchain technology and encryption.
While Bitcoin is touted as the first cryptocurrency to hit digital wallets in 2009, the market is hitting its ‘troubled teen’ years. Only instead of mood swings, you’ve got spectacular highs and crashing lows, leaving most people plainly confused by its behaviour.
So, will your crypto holdings factor into your lender’s loan decision?
In short, unfortunately not. This is partly because of the generally volatile nature of the cryptocurrency market.
A classic example being thrown about is that someone influential, like Elon Musk, could make a tweet which causes the price of Bitcoin to cliff-dive, devaluing your financial position drastically. That isn’t good news for you or the bank.
If your current financial position is based on your crypto holdings, which can go up and down like a pogo stick, then your position is technically less concrete. That’s why banks won’t factor in your Bitcoin or other crypto when calculating their loan risk.
What banks and lenders really want to see is consistency of earnings and a proven track-record of repayments, among other things that increase your borrowing power.
Banks also won’t factor in your crypto-folio because these online coins aren’t considered a valid form of Australian currency, which is their bread and butter.
Can I use Bitcoin (or cryptocurrency) for a deposit or home loan repayment?
By cashing in on your cryptocurrency holdings you can use your Australian dollars for loan repayments or even a deposit.
If you’re considering buying a property, make sure you understand the home loan process, including what information and evidence you’ll need to have ready. After that, compare home loan options to find the best deal for you.
Compare home loans- last updated 28 April 2024
Search promoted home loans below or do a full Mozo database search.Advertiser disclosure
Featured Product
Mozo experts choice awards won:
- Low Cost Home Loan - 2024
For more information about these awards go here.
Unloan Variable
Owner Occupier, LVR <80%
interest rate
comparison rate
Initial monthly repayment
5.99% p.a. variable
5.90% p.a.
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
Compare
Compare
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Unloan Variable
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
- interest rate
- 5.99% p.a. variable
- comparison rate
- 5.90% p.a.
- interest rate
- 5.99% p.a. variable
- comparison rate
- 5.90% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $10,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Unloan Unloan Variable
Go to site
Mozo experts choice awards won:
- Exceptional Value Home Lender - 2024
For more information about these awards go here.
Express Home Loan
Owner Occupier, Principal & Interest, LVR <90%
interest rate
comparison rate
Initial monthly repayment
6.01% p.a. variable
6.14% p.a.
Get fast online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.
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Express Home Loan
Get fast online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.
- interest rate
- 6.01% p.a. variable
- comparison rate
- 6.14% p.a.
- interest rate
- 6.01% p.a. variable
- comparison rate
- 6.14% p.a.
- Upfront fees
- $134
- Ongoing fees
- $10.00 monthly
- Discharge Fee
- $350.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 90.00%
- minimum borrowing amount
- $5,000
- maximum borrowing amount
- $3,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Bendigo Bank Express Home Loan
Go to site
Discounted Home Value Loan
Owner Occupier, Principal & Interest, LVR 70-80%
interest rate
comparison rate
Initial monthly repayment
6.09% p.a. variable
6.09% p.a.
Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Settlement fee waived on new borrowings from $50,000 (T&Cs apply).
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Discounted Home Value Loan
Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Settlement fee waived on new borrowings from $50,000 (T&Cs apply).
- interest rate
- 6.09% p.a. variable
- comparison rate
- 6.09% p.a.
- interest rate
- 6.09% p.a. variable
- comparison rate
- 6.09% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $300.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $50,000
- maximum borrowing amount
- $15,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the HSBC Discounted Home Value Loan
Interested in a HSBC home loan? Lendi specialists can help you refinance your home loan.
You can this discuss this option and compare against 25+ lenders with our trusted partner Lendi.
Answer a few questions online about your current loan and Lendi will connect you with one of their experienced home loan specialists, who can guide you every step of the way.
I want to refinance
Featured Product
Mozo experts choice awards won:
- Low Cost Home Loan - 2024
For more information about these awards go here.
Unloan Variable
Investment, LVR <80%
interest rate
comparison rate
Initial monthly repayment
6.29% p.a. variable
6.20% p.a.
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for investors. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
Compare
Compare
Go to site
Details Close
Unloan Variable
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for investors. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
- interest rate
- 6.29% p.a. variable
- comparison rate
- 6.20% p.a.
- interest rate
- 6.29% p.a. variable
- comparison rate
- 6.20% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $10,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Investor
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Unloan Unloan Variable
Go to site
Basic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR<70%
interest rate
comparison rate
Initial monthly repayment
5.99% p.a.
fixed 3 years6.12% p.a.
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
Compare
Compare
Go to site
Details Close
Basic Home Loan
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
- interest rate
- 5.99% p.a.
fixed 3 years
- comparison rate
- 6.12% p.a.
- interest rate
- 5.99% p.a.
fixed 3 years
- comparison rate
- 6.12% p.a.
- Upfront fees
- $350
- Ongoing fees
- $0.00
- Discharge Fee
- $400.00
- Extra repayments
- yes - up to $10,000 p.a.
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 70.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Macquarie Basic Home Loan
Go to site
Fixed Rate
Owner Occupier, Principal & Interest, <80% LVR
interest rate
comparison rate
Initial monthly repayment
6.54% p.a.
fixed 2 years7.10% p.a.
Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.
Compare
Compare
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Fixed Rate
Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.
- interest rate
- 6.59% p.a.
fixed 3 years
- comparison rate
- 7.06% p.a.
- interest rate
- 6.59% p.a.
fixed 3 years
- comparison rate
- 7.06% p.a.
- Upfront fees
- $160
- Ongoing fees
- $0.00
- Discharge Fee
- $160.00
- Extra repayments
- yes - free up to to lesser of 5% of original fixed loan amount, or $5,000 each year
- Redraw facility
- no
- Offset account
- Optional - $10 per month - 1 year fixed term only
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $20,000
- maximum borrowing amount
- -
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- $3,000 cashback for eligible First Home Buyers, $2,000 cashback when you refinance loans of $250k+, apply from 1 Dec 2022, settle within 180 days.
Read our Mozo Review to learn more about the ANZ Fixed Rate
Interested in an ANZ home loan? Lendi specialists can help you refinance your home loan.
You can this discuss this option and compare against 25+ lenders with our trusted partner Lendi.
Answer a few questions online about your current loan and Lendi will connect you with one of their experienced home loan specialists, who can guide you every step of the way.
I want to refinance
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Jack Dona
RG146
Money writer
Jack is RG146 Generic Knowledge certified, with a Bachelor of Communications in Creative Writing from UTS, and uses his creative flair to cut through the financial jargon and make home loans, insurance and banking interesting. His reader-first approach to creating content and his passion for financial literacy means he always looks for innovative ways to explain personal finance. Jack's research and explanations have been featured in government publications, and his work is regularly featured alongside major publications in Google's Top Stories for Insurance.
