Smaller lenders and credit unions can definitely offer more personalized service, but let's not completely dismiss big banks. I've seen situations where a large bank's structured approach actually helped buyers avoid getting in over their heads financially. Sometimes those strict guidelines exist for a reason—they protect both the lender and borrower from unnecessary risk. Sure, flexibility is great, but there's also value in clear-cut lending standards, especially if you're new to the property market...
I get what you're saying about big banks having their place, but have you ever tried getting a loan from them when your credit history isn't exactly spotless? A few years back, I had some old medical bills dragging my score down, and the big banks wouldn't even look twice at me. Ended up going with a smaller lender who actually took the time to understand my situation. Sure, structure is good, but isn't there a point where it becomes too rigid and leaves decent borrowers out in the cold...?
"Sure, structure is good, but isn't there a point where it becomes too rigid and leaves decent borrowers out in the cold...?"
Yeah, that's a fair point. Big banks definitely have their place, but sometimes their criteria can feel way too black-and-white. I've seen situations where perfectly solid people get turned away because of something minor from years ago. Smaller lenders or credit unions often seem more open to actually listening and understanding your story. Glad you found someone who took the time—must've been a relief after dealing with all that frustration.
Yeah, I've noticed that too. Big banks have their checklists and if you don't tick every box, you're out—even if your overall financial picture is solid. Had a deal almost fall through once because the borrower had a minor credit ding from a medical bill years back. Ended up going with a local lender who actually looked at the bigger picture. Sometimes flexibility and common sense beat strict guidelines...
"Sometimes flexibility and common sense beat strict guidelines..."
Totally agree with this. Reminds me of when I was applying for my first mortgage—big bank said no because my freelance income was "too unpredictable." Ended up chatting with a local credit union, and they actually took the time to understand my situation (and my obsessive budgeting spreadsheets, lol). Got approved without any drama. Sometimes those smaller lenders just get it...and bonus points for not making me feel like a financial misfit.
