I get where you’re coming from, but I’m not convinced lenders are actually getting stricter just because rates are up. Last time I refinanced, the documentation was about the same as before—tedious, but nothing out of the ordinary. Maybe it depends more on the lender than the market? I do agree that
sounds excessive, though. Haven’t seen that myself, thankfully.“every Venmo transfer for three months—felt like overkill”
I’ve noticed the same thing—paperwork’s always a pain, but I haven’t seen lenders get much stricter just because rates are up. When I bought my last place, it was a mountain of forms, but nothing wild like tracking every single Venmo or Zelle. That does sound like overkill.
From what I’ve seen, it really does come down to the lender’s own risk tolerance and maybe even the specific underwriter you get. Some want to see every penny accounted for, others just want the basics—pay stubs, tax returns, bank statements. If you’re self-employed or have irregular income, they might dig deeper, but that’s always been the case.
One thing I’d add: when rates jump or there’s market uncertainty (like with this U.S.–Iran stuff), lenders sometimes get jumpy behind the scenes. They might not change their official requirements, but they’ll scrutinize things a bit more closely. Nothing dramatic for most folks, but if your finances are a little complicated, it can feel like they’re looking for reasons to say no.
Long story short—tedious as ever, but not wildly different unless you hit one of those extra-cautious lenders.