Home Loans for Cannabis Professionals

Getting approved for a mortgage as a cannabis professional is tricky, but it’s not impossible. NewCastle Home Loans helps buyers in Illinois, Michigan, and Florida secure a mortgage with marijuana-industry income.

Available in IL, MI, and FL
Get pre-approved
Available in IL, MI, and FL

How to get approved.

Because marijuana is legalized on a state-by-state level, cannabis workers aren’t eligible for a federally backed loan (FHA, VA, or USDA loans). Instead, you’ll need to meet the standard qualifications for a conventional loan:

  • Have a minimum credit score of 620.
  • Be able to provide proof of employment, income, and that you can afford to repay the loan.
  • Have funds available for a down payment of 3% or more, and proof that money used to buy the home is from an acceptable source. 
  • Plan to buy an acceptable property, like a single-family home, townhome, condominium, or 2- to 4-unit home.
  • Have a maximum loan amount of $647,200.


In addition to these standard qualifiers, you need to meet a few other conditions specific to the marijuana industry: 

  • Buy a home in Illinois, Michigan, or Florida, where states have legalized marijuana for recreational or medical use. We lend exclusively to cannabis workers in these three states.
  • Not have an ownership interest in a cannabis business. We can accept income from workers in the cannabis industry, as long as that income is not tied to full or partial ownership.
  • Provide proof of income from a reputable cannabis business. Unfortunately, we cannot use self-employment income for those working in the cannabis space.
  • Apply for a loan of $150,000 or more, and use it to purchase a non-manufactured home. 
  • Buy your home for personal use. The property you buy can’t produce income for any reason.

Get pre-approved          Learn More


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to search your home rates and fees


First Name

Last Name


The total selling price of a property.

Money that you pay at the time of closing that is included in your cash to close, this is the minimum contribution you have invested in the loan.

Downpayment in the form of a percentage %.

Your estimated credit score


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