GETTING THROUGH THE DSCR LOAN MAZE: MY STEP-BY-STEP AND A QUESTION
I’m convinced some lenders are just nostalgic for the “good old days” of paperwork. I had one ask me to *mail* (not email, not upload—mail) a copy of my pay stub. Like, with a stamp and everything. I had to double-check the calendar to make sure I hadn’t time-traveled.
I’ve noticed the same thing with smaller lenders, though. The local credit union I tried was way more chill about digital docs. They even let me sign stuff on my phone, which felt like a miracle after dealing with the big banks. But then again, their process was slower, and they wanted a ton of random explanations for every deposit over $500. I spent a whole afternoon trying to remember why my grandma sent me $600 last year (spoiler: it was for my birthday).
Is it just me, or do the requirements seem to change depending on who you talk to at the same company? One day, “digital is fine,” next day, “we need the original with blue ink.” I started keeping a spreadsheet just to track who told me what, and when. It’s like playing a weird game of telephone.
I’m curious if anyone’s actually managed to get through this without at least one document being rejected for some totally random reason. My favorite so far was getting dinged because my utility bill was “too recent.” Apparently, they wanted one from last month, not this month... because logic.
Anyway, I’m still in the middle of it all, but at this point, I’m half expecting them to ask for a carrier pigeon delivery next.
The utility bill thing got me too—mine was “too old” by a week, which felt like a cruel joke after all the other hoops. I swear, every time I thought I had the checklist nailed, someone would toss in a curveball about ink color or needing a “wet signature.” Keeping a spreadsheet is genius; I started color-coding emails just to keep my sanity. Hang in there—it’s weirdly comforting to know I’m not the only one feeling like I’m prepping for a scavenger hunt.
That utility bill timing tripped me up too, and it’s wild how every lender seems to have their own “gotcha” requirements. I’ve started keeping scanned copies of everything in a cloud folder, but even then, someone always asks for a more recent version or a different format. Have you noticed any consistency with which docs get flagged? I’ve had pay stubs questioned for the most random reasons. It makes me wonder if there’s any universal standard or if it’s just luck of the draw.
Title: Getting through the DSCR loan maze: My step-by-step and a question
Honestly, it’s a total patchwork—there’s no real universal standard, even though you’d think there would be by now. Some lenders nitpick pay stubs over the tiniest formatting issue, while others barely glance at them but suddenly care about your utility bill being exactly 30 days old. I’ve seen underwriters flag docs just because the address font looked “off.” It’s frustrating, but I will say that keeping everything organized and dated helps cut down on the back-and-forth. Still, sometimes it feels like you’re just rolling the dice with which doc gets flagged next…
That’s exactly what’s stressing me out right now. I’m trying to prep everything ahead, but it feels like no matter how careful I am, something random gets flagged. I had a lender question the color of my scanned bank statement (like, does grayscale really matter?). Makes me wonder if there’s any way to know in advance which docs are most likely to get picked apart, or if it’s just luck of the draw. Has anyone actually managed to get through this without at least one weird doc request?
