it beats having your closing delayed because someone wants to know why your aunt sent you $40 for pizza...
Man, ain’t that the truth. I once had to write a letter explaining a $12 PayPal from my cousin—turns out it was for Girl Scout cookies. Now I just keep a running doc of “weird deposits” and update it every week. It’s a pain, but better than getting grilled at the finish line.
That’s honestly super smart. I started doing something similar after my lender flagged a $25 Venmo from my brother—he was just paying me back for gas. It’s wild what they’ll question, but I guess covering your bases is just part of the process now. Hang in there, it’s worth it when you finally get those keys.
It’s wild what they’ll question, but I guess covering your bases is just part of the process now.
Yeah, it’s gotten pretty intense. I had a client once who got flagged for a $12 PayPal from his mom—turns out she was just splitting a pizza. Lenders are hyper-cautious these days, especially with DSCR loans. It feels over the top sometimes, but honestly, it’s all about documenting every cent. The hoops are annoying, but you’re right—it pays off when you’re finally done.
I hear you on the overkill with documentation. When I refinanced, they wanted a paper trail for every random Venmo and even asked about a $25 refund from Amazon. Here’s what worked for me: keep a running list of all deposits and transfers, with quick notes on what each one was for. Screenshot everything—bank statements, receipts, even texts if it helps explain stuff. It’s tedious, but having it all ready saved me from scrambling when the underwriter started nitpicking. Honestly, it felt like overkill, but having that backup cut down the back-and-forth.
Honestly, I get why you’d want to have every scrap of documentation, but sometimes I wonder if it’s actually necessary to go that deep. I’ve pushed back on a couple of those random requests—like, do they really need to see the details for a $15 PayPal transfer from months ago? In my case, I just gave a general explanation for small stuff and only sent extra proof if they insisted. Maybe it depends on the lender, but I didn’t find they always needed every single screenshot. Anyone else feel like sometimes we’re just feeding the paper monster for no real reason?
