Yeah, I’ve noticed the same thing—credit unions just don’t seem to sweat the small stuff as much. I had a random Venmo from a friend for pizza night and the big bank underwriter wanted like three different explanations. It’s wild how inconsistent it is. Did you ever get pushback on cash deposits too? That was a headache for me, even when it was just birthday money.
Did you ever get pushback on cash deposits too? That was a headache for me, even when it was just birthday money.
That’s actually come up with a few of my clients—one had to provide a signed note from their grandma for a $200 birthday check. It’s wild how much scrutiny some lenders apply, while others barely blink. I’m curious, did you notice if the underwriters were stricter about other things too, like side gig income or even small transfers between your own accounts? Sometimes it feels like there’s no rhyme or reason to what gets flagged.
Honestly, I had a totally different experience. When I refinanced last year, the underwriter barely glanced at my Venmo transfers or my random $50 deposits from selling old furniture. But then they grilled me for weeks about my steady freelance income—even though I had all the 1099s and bank statements. It almost felt like they cared more about where the money came from than how much there was. Maybe it just depends on who you get assigned? The inconsistency is wild.
That’s interesting, because when I bought my place, the underwriter was obsessed with every single deposit over $100—didn’t matter if it was a birthday check from grandma or a side gig payment. They barely cared about my W-2 income, which I thought would be the easiest part. Makes me wonder if it’s just luck of the draw or if certain lenders have stricter guidelines. Did you end up having to provide letters of explanation for those freelance deposits?
Yeah, I've seen that too—some lenders really dig into every little deposit, while others seem more relaxed. It's wild how inconsistent it can be. When I went through it, I had to write a couple of those explanation letters for random Venmo transfers. It felt excessive, but apparently it's all about verifying the source of funds. I think some underwriters just follow the book to the letter, while others use a bit more judgment. It can definitely feel like a roll of the dice depending on who you get.