I've found lenders mostly skim anyway, so I stick to a one-pager with just the key numbers—income, expenses, net. Anything beyond that and their eyes glaze over. Curious if others have had luck with something different...
Interesting take, but honestly, I've found lenders aren't always as superficial as we assume. Sure, a concise one-pager might grab attention initially, but when it comes down to actually approving the loan, many lenders I've worked with appreciate a bit more depth. Not saying you need a full-blown novel, but adding context—like market trends or brief explanations for unusual expenses—can sometimes make the difference between approval and rejection.
I remember one client who had borderline DSCR numbers. We included a short paragraph explaining recent renovations and projected rent increases based on local comps. The lender actually mentioned later that this extra context helped them justify the deal internally. So maybe it's less about length and more about strategic detail? Curious if you've ever tried something similar or if you've found lenders resistant to even minimal elaboration...
That's a solid point about lenders appreciating context. I've had similar experiences, especially with borderline cases—just a bit of extra explanation can tip the scales in your favor. But I'm wondering if it depends heavily on the lender's internal processes or even the specific loan officer handling your case?
For example, I once included detailed market data and projections for a property that had recent vacancies due to renovations. One lender really appreciated the transparency and actually thanked us for anticipating their questions. Another, though, barely glanced at the additional info and just stuck rigidly to their standard DSCR guidelines.
Do you think there's a certain type or size of lender that's more receptive to strategic explanations? Or maybe it comes down to building relationships with specific contacts within lending institutions over time...
From my experience, smaller regional lenders or credit unions tend to be more flexible and open to explanations—bigger banks usually stick closer to the checklist. But honestly, relationships matter a ton too...sometimes it's all about who you're dealing with.
Interesting take, but I'm not totally convinced smaller lenders are always the better bet. Sure, they're often more flexible and relationship-driven, but I've seen plenty of cases where bigger banks actually came through because their processes were clearer and more predictable. Sometimes that "checklist" approach can actually work in your favor—especially if your financials are solid but your story is a bit complicated.
I had a client last year who initially went with a local credit union because he thought they'd be more understanding about his unique income streams. But the loan officer there was pretty inexperienced and got hung up on minor details, dragging out the process for weeks. Eventually, he switched to a larger bank, and even though they were stricter on documentation, the process was smoother because expectations were clear from day one. He knew exactly what they needed, provided it upfront, and got approved without all the back-and-forth.
Relationships definitely matter, no argument there. But I'd caution against assuming smaller always equals easier. Sometimes bigger institutions have more experienced teams or clearer underwriting guidelines that can actually simplify things. It really depends on your specific situation and how well you fit into their lending criteria.
Also curious—have you found that smaller lenders are consistently better at handling DSCR loans specifically? Because in my experience, DSCR loans can be pretty specialized, and not every smaller lender has the expertise or comfort level to handle them efficiently.
