- Been in the paperwork maze for weeks now—feels like I’m prepping for an IRS audit, not buying a house.
- Totally agree, some of these requests are just wild. My lender wanted a letter explaining a $50 Venmo from last year. Like, it’s not a secret offshore account, it’s pizza.
- I get that they need to check stuff, but there’s gotta be a line. At some point it just feels like busywork.
- Paying a bit more for someone who actually answers emails and doesn’t send “urgent” requests at 5pm on Fridays? Starting to sound worth it.
- If they ask for my middle school report cards next, I’m tapping out.
- Paying a bit more for someone who actually answers emails and doesn’t send “urgent” requests at 5pm on Fridays? Starting to sound worth it.
Honestly, I get the frustration—some of these document requests feel like they’re just checking if you’ll give up. But I’d push back a bit on the idea that it’s all just busywork. Lenders are under a ton of scrutiny themselves, especially after the last financial crisis. They’re basically covering every possible base, even if it means asking about a $50 Venmo for pizza.
Here’s how I look at it: every oddball request is them making sure there’s nothing that could come back to bite you (or them) later. It’s annoying, but it’s also what keeps the process from blowing up down the line. I’ve seen deals fall apart because someone missed a tiny detail early on.
If you want to speed things up, I’d suggest keeping a running folder of anything even remotely financial—random deposits, gifts, whatever. It saves a lot of back-and-forth. And yeah, paying a bit more for a responsive lender can be worth it, but even the best ones have to follow the same rules. The paperwork maze is brutal, but it’s there for a reason... even if it feels like overkill sometimes.
I totally get what you’re saying about keeping a folder of random financial stuff. I tried that, but then they still asked for things I never even thought to save—like a screenshot of a transfer between my own accounts. It’s wild. I get that they’re covering themselves, but sometimes it feels like they’re just making it harder for regular folks who don’t have an accountant on speed dial. Has anyone actually had a lender who made the process feel less like a scavenger hunt, or is this just the new normal?
Honestly, it does feel like the new normal, but I wonder if it’s partly because of stricter regulations after the last financial crisis. Have you tried smaller credit unions or local banks? Sometimes they’re less rigid with documentation, though not always. It’s wild how granular they get—last time I refinanced, they wanted a letter explaining a $200 Venmo transfer between my own accounts. Does anyone actually read all this stuff, or is it just ticking boxes?
Ticking boxes is probably 90% of it, but I’ve actually seen underwriters flag the weirdest stuff—like a $12 refund from an Amazon return. It’s not always just mindless paperwork. Sometimes they’re genuinely trying to make sure nothing shady’s going on, but yeah, it gets absurd. I get the logic behind post-crisis regulations, but man, they could use a little common sense.
Credit unions and local banks can be a mixed bag. Some are way more flexible, others are just as picky but with less fancy online portals. If you want to avoid the “explain your own Venmo” routine, here’s what I usually tell folks:
1. Comb through your statements before submitting them—flag anything that might look odd.
2. Write up explanations in advance for anything over $100 that isn’t super obvious.
3. Don’t be afraid to ask the loan officer what really matters and what’s just boilerplate.
It won’t make the process fun, but it can shave off some back-and-forth. And if you ever figure out who actually reads those letters, let me know... I’ve got questions too.
