Honestly, I've had the opposite experience lately. My local credit union was surprisingly flexible when I refinanced last year, even though my income is all over the place (freelance life, yay...). Meanwhile, the smaller community bank down the street practically wanted my firstborn child as collateral. I think you're right about it depending on the loan officer though—some just get it, others...not so much. Guess it's all about finding that unicorn lender who actually understands self-employment struggles.
Interesting point about loan officers making a big difference, but I'm curious—do you really think it's mostly about finding that one unicorn lender? In my experience, even flexible lenders often have strict guidelines they can't bypass. Freelance income can be tricky...did your credit union ask for extra documentation or maybe average out your earnings over a longer period? Sometimes the flexibility has less to do with the person and more with how the institution itself handles risk. Just something to consider.
Totally get this. Freelance income is seriously the bane of my existence right now, haha. My credit union definitely wanted extra docs—felt like I handed over my entire life story in bank statements and tax returns. But honestly, I do think finding the right person helps a ton. Some loan officers just seem better at navigating their institution’s rules, you know? It might not be a unicorn lender exactly...but maybe a unicorn loan officer who knows how to work within the system without losing their sanity (or yours).
"It might not be a unicorn lender exactly...but maybe a unicorn loan officer who knows how to work within the system without losing their sanity (or yours)."
Haha, exactly this. I've found that smaller local banks or community lenders sometimes have more flexibility. They seem less rigid about ticking every single box, especially if you can clearly explain your situation. Worth checking out if you're hitting walls elsewhere.
Totally agree about smaller banks. A few years back, I was trying to refinance after cleaning up some messy credit stuff (long story involving a roommate and unpaid utilities...ugh). Big lenders just saw red flags everywhere, but a loan officer at my local credit union actually took the time to listen. She helped me document my progress clearly, and we got it through without too much hassle. Sometimes it's really about finding someone willing to look beyond the checklist.
