"Makes you wonder if lenders are prioritizing efficiency over accuracy these days..."
Yeah, that's a good point. Automation definitely speeds things up, but it can also create blind spots. I've noticed lenders often rely on rigid criteria that don't account for unique financial situations—like freelancers or small business owners whose income fluctuates. A quick manual review could easily clarify things, but lenders seem hesitant to invest that extra bit of time. Maybe they're too focused on volume and not enough on individual circumstances...
"Maybe they're too focused on volume and not enough on individual circumstances..."
Exactly this. Had a friend recently who runs a small seasonal business—income looks great half the year, pretty sparse the other half. Automated systems flagged him immediately, even though he's financially solid overall. Took forever to get someone to actually look at his situation manually. Makes me wonder, are lenders even aware how many good borrowers they're missing out on by sticking to rigid automation...?
Totally get your point, but lenders aren't just automating to save time—they're also managing risk. Even financially stable borrowers with seasonal income can look risky on paper. I've seen clients in similar situations succeed by approaching smaller local banks or credit unions. Those places often have more flexibility and can actually sit down and look at the bigger picture... automated systems aren't perfect, but there's usually a workaround if you know where to look.
That's a good point about smaller banks and credit unions. When I started looking for my first home, my income was steady but came from freelance gigs, so big lenders weren't exactly thrilled with me either. I ended up talking to a local credit union, and they were way more understanding. They actually took the time to look at my whole financial situation, not just the numbers on paper. Definitely worth checking out if you're feeling stuck...
"They actually took the time to look at my whole financial situation, not just the numbers on paper."
Yeah, that's exactly why I switched to a smaller lender too. Big banks tend to stick strictly to their checklists. Did your credit union offer any special programs or incentives for first-time buyers? Mine had some pretty helpful options...
