Maybe it depends on the lender, but I didn’t find they always needed every single screenshot.
Totally agree. I’ve found that if you just explain the small stuff up front, most underwriters don’t care about every tiny transaction. I only dig up receipts if they push back. Otherwise, it’s just not worth the hassle. Feels like a waste of time chasing down $10 Venmo screenshots...
Feels like a waste of time chasing down $10 Venmo screenshots...
Honestly, I get where you’re coming from, but I’ve seen underwriters flag the weirdest little things. My rule: document anything over $50 automatically, and for smaller stuff, just have a quick note ready. Saves headaches if they circle back later.
Title: Getting through the DSCR loan maze: My step-by-step and a question
Chasing down tiny Venmo transactions does feel ridiculous sometimes, but I’ve learned the hard way that underwriters can get hung up on the smallest details. I used to think, “No way they’ll care about that $12 transfer from my buddy,” but then—surprise—they wanted an explanation for it. Now I just keep a running list of anything that looks even a little out of the ordinary, even if it’s just a note to myself. It’s not fun, but it’s way better than scrambling to remember what that random payment was for two months later.
I get why it feels like overkill, though. When you’re juggling multiple deals or properties, every extra step adds up. But in my experience, being a little over-prepared saves a lot of back-and-forth. I’ve had files sail through because I had everything ready, and I’ve had others stall out for weeks because I was missing some silly detail.
One thing I’ve started doing is keeping a folder on my phone for screenshots of any transfers or deposits that aren’t my regular paycheck or rent payments. Takes a few seconds, and if someone asks, I’m not digging through old statements or texting friends for explanations. Not perfect, but it’s helped.
Honestly, I wish lenders would streamline this stuff, but until they do, it’s just part of the game. Hang in there—it gets easier once you’ve got a system. And hey, if you ever figure out a way to make the process less painful, I’m all ears...
Seriously, the way underwriters treat a $10 Venmo like it’s some sort of offshore account cracks me up. I swear, if I ever buy a coffee for a friend, I’m half tempted to just pay cash to avoid the paper trail. Out of curiosity, have you ever had an underwriter question something totally absurd—like, say, a birthday gift or splitting a dinner bill? I’ve seen some wild requests for “documentation” that made me wonder if I was on a hidden camera show...
The number of times I've had to explain a $12 Zelle transfer to an underwriter... you'd think I was running some underground operation. One time, I had a client get flagged for a $25 Apple Pay reimbursement from his roommate for utilities. The underwriter wanted a written explanation, plus proof of the original utility bill. It was almost comical—like, are we really going to chase down every pizza split?
I get that they're just doing their job, but sometimes the level of scrutiny feels totally disconnected from reality. That said, I've noticed it can depend on the lender—some are way more intense than others. Ever run into an underwriter who asked for documentation on something you just couldn't possibly provide? Like, what if you got cash as a birthday gift from your grandma... how do you even prove that?
