I get where you’re coming from, but honestly, I’ve had just as many headaches with smaller lenders as with the big banks. Sometimes those local places get bogged down because they’ve got fewer staff or resources, and all it takes is one person out sick to throw everything off. I will say, though, you’re spot on about persistence and keeping your docs ready—half the time, being organized is what gets things moving again. But I wouldn’t count on smaller always being faster... sometimes it’s just luck of the draw.
I’ve actually had the opposite experience—smaller lenders have usually been quicker for me, but I think it comes down to how they structure their workflow. Here’s what’s worked in my case: I ask upfront about their average turnaround times and who my main point of contact will be. If they can’t give a clear answer or seem disorganized, that’s a red flag. Also, sometimes the “big bank vs. local lender” debate misses the fact that some regional lenders specialize in certain types of loans and have streamlined processes for those. It’s not always about size—sometimes it’s about fit.
It’s not always about size—sometimes it’s about fit.
That line cracked me up—sounds like you’re talking about jeans, not lenders. But honestly, you’re right. I used to think the big banks would be faster just because they’ve got more people and fancier apps, but my last refi with a “big name” lender took so long I started wondering if they were underwriting my loan by carrier pigeon.
I’ve had mixed luck with smaller outfits too. One local credit union was super speedy, but another time, the loan officer went on vacation halfway through and nobody told me. I spent two weeks thinking my emails were going into a black hole. At least with the big banks, you usually get some kind of generic update—even if it’s just “we’re still reviewing your paperwork for the 47th time.”
You mentioned asking about turnaround times upfront. That’s smart. I wish I’d thought to do that before getting stuck in mortgage limbo. Do you ever get the sense that some lenders just make up numbers to keep you happy? “Oh sure, we close in 10 days!” Meanwhile, three weeks later, you’re still chasing down that one missing W-2 from 2019...
Honestly, at this point, I’m convinced the key is finding someone who actually picks up the phone when you call. Doesn’t matter if they’re in a skyscraper or above a pizza shop—as long as they answer your questions and don’t vanish mid-process.
Anyone else ever feel like getting a mortgage approved is like waiting for water to boil while someone keeps moving the pot?
Waiting forever is pretty much the theme song of my first homebuying experience. I figured with all the paperwork and “urgent” requests, things would move faster, but nope—felt more like waiting for a package that keeps getting delayed. I had a loan officer who responded to emails at the speed of continental drift. At one point I started wondering if I’d accidentally applied for a mortgage in another country. I do think you’re right about the phone thing—just having someone actually answer instead of sending you to voicemail purgatory makes a world of difference. Still not sure if there’s a secret handshake to get things moving, though...
At one point I started wondering if I’d accidentally applied for a mortgage in another country.
That’s honestly how it feels. I’m refinancing right now and the “urgent” requests are always followed by radio silence. It’s wild how they want docs ASAP, then disappear for days. I’ve found calling does help, but even then, you’re at the mercy of their internal process. No secret handshake—just persistence and a lot of patience, unfortunately.
