I totally get the “moving target” thing—felt that way myself when I started looking at lenders. I thought credit unions would be easier, but the process ended up feeling kind of unpredictable. One week they were super chill, the next week they wanted a letter for every little thing. With banks, it was more like, “Here’s the checklist. Do it or don’t.” Not always fun, but at least I knew what to expect.
What helped me was making a spreadsheet to track what each lender wanted and how fast they responded. That way, I could see which one was actually moving things along and which one kept asking for new stuff. Also, I started asking up front about their documentation process and how decisions get made—sometimes you can get a sense if they’re going to be sticklers or more flexible.
Honestly, neither option felt perfect. I ended up going with a mortgage broker who shopped around for me, which took some of the pressure off. It’s a lot, but having everything in writing and staying organized made it less stressful.
I hear you on the unpredictability—credit unions can be all over the place. I’ve seen clients get strung along for weeks because someone in underwriting suddenly wanted “just one more document.” Banks, on the other hand, are usually more rigid, but at least you know where you stand. That checklist approach isn’t warm and fuzzy, but it’s less likely to surprise you mid-process.
I actually had a buyer last year who swore by credit unions, but halfway through, they got hit with a request for a signed letter from their employer about a bonus that was already on their paystub. It delayed closing by almost two weeks. Meanwhile, another client went with a big bank—painful paperwork up front, but once it was done, things moved like clockwork.
“I ended up going with a mortgage broker who shopped around for me, which took some of the pressure off.”
That’s honestly what I recommend most these days. Brokers can cut through a lot of the red tape and know which lenders are being picky at any given time. Still, I always tell folks: keep every email and document organized. Lenders lose stuff more often than you’d think... and it’s always your problem if something goes missing.
Honestly, I get where you’re coming from about brokers—having someone shop around can be a lifesaver. But I’ve actually had a few buyers who felt like the broker route added another layer of confusion. Sometimes it’s just one more person in the mix, and if communication isn’t tight, things slip through the cracks.
“Lenders lose stuff more often than you’d think... and it’s always your problem if something goes missing.”
That part is so true, no matter who you use. Ever had a lender “misplace” your tax returns twice? It’s wild. I do wonder, though—do you think the extra flexibility with credit unions is ever worth the unpredictability? Some of my clients swear by their local CU for rates and personal service, even if it’s a bit messier.
Mortgage Lenders vs Banks: Which Option Is Better for Buyers?
That’s a fair point about brokers sometimes adding confusion if the communication isn’t tight. I’ve seen deals get messy when everyone’s not on the same page—especially if the lender and broker aren’t syncing up on document requests or timelines. It really comes down to how organized the broker is and how well they manage expectations.
On the credit union side, I’ll admit, they can be a bit unpredictable. I’ve had files where the underwriter at a CU wanted extra documentation that no one else asked for, or their process just dragged out longer than expected. But, I’ve also seen them come through with rates and flexibility that bigger banks just wouldn’t touch. Some clients really value that local feel, even if it means a few more hoops to jump through.
And yeah, lenders losing documents is way too common. I always tell clients to keep digital copies of everything, just in case... saves a lot of headaches when something “goes missing” for the second time.
I can totally relate to the credit union unpredictability—had a client once who got asked for a third round of “just one last thing” docs, and we started joking it was like a scavenger hunt. But on the flip side, they offered her a rate that left the big-name banks in the dust. As for document mix-ups, I’ve started telling people to keep a “mortgage folder” on their desktop. If nothing else, it’s good for your sanity when someone swears you never sent that pay stub... again.