I found the lender moved faster, but the communication could get messy.
That’s pretty much my experience too. Here’s what worked for me: I made a spreadsheet to track every doc and deadline, since lenders (especially non-bank ones) can be quick but scattershot with updates. Banks felt slower, but their process was more predictable—less “surprise, we need another form.” If you’re juggling work and family, that predictability can be worth it, even if it drags out a bit. But for speed and sometimes better rates, lenders win... as long as you stay super organized.
Honestly, I had a similar headache with a non-bank lender last year. They were lightning-fast at first, but then I’d get these random requests for extra paperwork at the worst times. I get that banks are slower, but at least you know what’s coming (usually). If you’re not the spreadsheet type, those lender curveballs can get old real quick. Sometimes the “faster” route just means more last-minute scrambling... not sure it’s always worth it.
Yeah, I totally get what you mean. I went with a non-bank lender because they promised a super quick turnaround, but halfway through, they wanted all sorts of extra stuff—random pay stubs, letters from my employer, even a utility bill from two years ago. I felt like I was on a scavenger hunt. With banks, it’s slow but at least you kind of know the drill. The “fast” route definitely stressed me out more than I expected.
I hear you on the scavenger hunt vibes—been there, done that, still have nightmares about tracking down a phone bill from 2019. But honestly, I’m not sure banks are always the “safer” or more predictable option either. Maybe it’s just my luck, but the last time I tried going through a traditional bank, it felt like I was applying for a top-secret government clearance. They wanted every document under the sun, plus a blood sample (kidding… sort of).
What I did notice, though, is that non-bank lenders were at least willing to look at my situation creatively. My income is a mix of freelance gigs and part-time work, so banks basically gave me the “computer says no” treatment. At least with the non-bank folks, they listened and tried to figure out a way to make it work—even if it meant asking for a utility bill from when Pluto was still a planet.
It’s kind of a trade-off: with banks, you get consistency (and maybe fewer surprises), but if your finances aren’t super straightforward, you might just hit a wall. Non-bank lenders can be more flexible—but yeah, sometimes that flexibility comes with extra hoops and random paperwork requests. I guess it boils down to how much patience you have and whether your financial life fits neatly into a box.
In my case, I’ll take a few weird document requests over getting ghosted by the bank any day. It’s not perfect, but at least I got to the finish line without having to explain why my side hustle is selling vintage lava lamps on eBay... which is another story altogether.
- Totally get the “scavenger hunt vibes”—been there, too.
- Last year, I tried both routes. Banks wanted pay stubs from jobs I barely remembered and grilled me about every deposit.
- Non-bank lender? More flexible, but asked for a letter from my old landlord’s cat (okay, not really, but it felt that random).
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—that’s exactly how it felt with the bank.“you might just hit a wall”
- For me, the non-bank route was less predictable but actually got me approved.
- Still not sure which is “better,” but if your income isn’t cookie-cutter, banks can be a dead end.