Couldn't agree more about tidy finances making life easier. But honestly, even with organized reserves, lenders sometimes throw curveballs. Had one ask for docs I didn't even know existed... patience (and a good sense of humor) helps keep sanity intact.
"Had one ask for docs I didn't even know existed..."
True, lenders can surprise you, but honestly, anticipating curveballs is part of the prep. If you proactively request a detailed checklist upfront, you can usually dodge most unexpected doc requests... saves headaches down the line.
"anticipating curveballs is part of the prep"
True, but even with a checklist, lenders sometimes pull surprises. Had one ask me for a utility bill from a rental property I sold two years ago... took some digging, but lesson learned—keep everything!
"Had one ask me for a utility bill from a rental property I sold two years ago... took some digging, but lesson learned—keep everything!"
Haha, sounds about right. I've been through the DSCR loan process a couple times now, and honestly, no matter how prepared you think you are, there's always something random they throw at you. Last time, my lender asked for proof of insurance coverage on a property I hadn't even closed on yet. Took me a minute to wrap my head around that one—like, how do you insure something you don't technically own yet? But apparently that's a thing.
I guess the key is just staying flexible and keeping your sense of humor intact. I used to get super frustrated with these curveballs, but now I just expect them as part of the game. And yeah, keeping meticulous records helps big-time. I've got folders within folders now—digital and physical—because you never know when they'll ask for some obscure document from three years ago.
One thing I've learned is that lenders aren't trying to torture us (usually), they're just ticking boxes on their end. Sometimes their requests seem totally random or unnecessary, but there's usually some obscure underwriting guideline behind it. Doesn't make it less annoying though...
Anyway, hang in there. Once you're through the hoops and finally close the deal, it's worth all the hassle. Until then, deep breaths and maybe keep a stress ball handy.
Fair points, but honestly, I don't think it's realistic or necessary to keep every single document forever. I've been through a couple DSCR loans myself and found that pushing back politely can sometimes get lenders to reconsider these random requests. Sure, some documents are non-negotiable, but others... they're just ticking boxes, like you said. Sometimes clarifying the situation or offering an alternative works better than digging through ancient paperwork.
