From what I've seen, bigger banks aren't really becoming more flexible—they're just refining their existing boxes. A few freelancers or creatives might slip through if their paperwork aligns neatly with certain criteria, but those are exceptions, not a shift in policy. Alternative lenders or smaller banks tend to have genuinely flexible criteria for unconventional incomes. Big banks are still pretty conservative... so I'd say your friend's case was probably more luck than trend.
Good points overall, though I'd say it's less about luck and more about timing and presentation. Big banks do tweak their criteria occasionally, especially when they're chasing certain market segments. I've seen freelancers get approved because they had a solid track record and knew exactly how to frame their income. Still, you're right—it's not exactly common. Makes me wonder, has anyone here had better experiences with credit unions or community banks for unconventional loans? Curious if they're genuinely more flexible...
I've actually seen credit unions be a bit more flexible, especially if you have a good relationship with them. Had a client recently—freelancer with irregular income—and the local CU approved him pretty smoothly. Big banks weren't having it...so yeah, might be worth checking out.
Credit unions can definitely be more flexible, but I've also seen them tighten up lately, especially if the borrower doesn't have a solid history with them. Had a client recently who was self-employed—similar situation—and the CU asked for a ton of extra documentation. Eventually got approved, but it wasn't exactly smooth sailing. Curious if anyone's noticed certain credit unions being consistently easier to work with than others?
I've had mixed experiences with credit unions lately too. A few things I've noticed:
- They're great when your client has a long-standing relationship with them, but honestly, not always the best for new or self-employed borrowers. Sometimes traditional banks surprise me by being more accommodating lately (weird, right?).
- Recently, a client of mine who runs a small online business got turned down by two local credit unions despite providing tons of paperwork. On a whim, we tried a smaller community bank instead, and they were way more flexible—approved with minimal hassle.
- I think it really comes down to the specific loan officer and their comfort level with unconventional income streams. Some credit unions are just more conservative by nature, even if their marketing says otherwise...
So yeah, while credit unions can be awesome, they're definitely not always the most flexible solution these days. Might be worth exploring smaller community banks or even certain mortgage brokers who specialize in self-employed borrowers.
