"Sometimes it's really about finding someone willing to look beyond the checklist."
Yeah, that's been my experience too, but isn't it frustrating how inconsistent lending criteria can be? Had a property deal a while back that didn't neatly fit their usual boxes—self-employed income, fluctuating rental history... you know the drill. Big banks just shrugged me off, but a smaller lender actually took the time to ask detailed questions. Worked out fine in the end, but it makes me wonder—how many solid deals slip through because lenders just won't dig a little deeper?
"how many solid deals slip through because lenders just won't dig a little deeper?"
Yeah, that's the million-dollar question right there. Honestly, I've seen some pretty wild scenarios—like a client who had steady freelance income but banks treated him like he was selling lemonade on weekends. Big lenders sometimes act like if your situation doesn't fit neatly into their spreadsheet, you're basically radioactive. 😂
But then again, smaller lenders or credit unions often surprise me by actually listening and asking real questions. Had one recently where the borrower had irregular rental income from Airbnb—big banks wouldn't touch it with a ten-foot pole, but a smaller lender took the time to understand the cash flow and approved it without much fuss.
Makes you wonder though... are big banks just too rigid, or is it more about risk management at scale? Maybe they're just not set up to handle anything outside their comfort zone. Curious if anyone else has had luck with unconventional deals lately or if it's still mostly hit-or-miss out there.
I've run into this exact issue more times than I can count. Big banks aren't necessarily "rigid" just for the sake of it—they're built around standardized processes to handle massive volumes efficiently. Anything outside their neat little boxes throws a wrench in their system, and honestly, they don't have much incentive to dig deeper.
But you're spot on about smaller lenders and credit unions. I've had deals where the borrower had multiple side hustles or non-traditional income streams, and the big lenders wouldn't even look twice. Took the same deal to a local credit union, sat down face-to-face, and walked out with financing approved in a couple days. Sometimes it's just about finding someone willing to actually listen and understand the full picture.
Bottom line, if your deal doesn't fit the standard mold, skip the big banks and go straight to smaller lenders or brokers who specialize in unconventional scenarios. Saves you time, headaches, and probably a few grey hairs too...
"Sometimes it's just about finding someone willing to actually listen and understand the full picture."
Exactly this. But curious—do smaller lenders typically charge higher rates for these unconventional loans? I'm budget-conscious, so wondering if flexibility comes at a premium or if it's comparable overall...
Yeah, from what I've seen, smaller lenders do tend to bump up rates a bit for loans that don't fit the typical mold. Not always sky-high, but enough to notice. On the flip side, they're usually way more flexible and easier to talk to—like you said, someone who actually listens. When I went through this, I figured paying a touch more interest was worth it just to avoid the headache of dealing with big-bank bureaucracy...but definitely shop around, cause it varies a lot.
