Couldn’t agree more about the randomness—sometimes I think lenders just make up the rules as they go. I’ve been through the wringer with mortgages for rental properties, and honestly, if your credit isn’t squeaky clean, you’re in for a ride. I remember one deal where the underwriter called out a $100 deposit from my mother as a “potential undisclosed loan.” I mean, really? She was just paying me back for a birthday gift. But they made me jump through hoops to “source” it. Meanwhile, a few months later, different lender, bigger property, and they barely cared about anything except the down payment. It’s all over the place.
Here’s the thing: I’d never bank on getting a break just because someone else did. If you’re not prepared to document every penny, you’re asking for trouble. I learned that the hard way early on. Had a deal fall apart because I couldn’t produce a paper trail for a freelance gig from six months prior. Lost my earnest money—painful lesson. Now, I keep digital folders for every account, every lease, every weird Venmo payment... even if it feels like overkill.
I get why people say it’s better to drown in paperwork than get caught off guard, but honestly, I think the bigger issue is how inconsistent the process is. Some lenders will work with you if you’re proactive and organized, but others act like mid-600s credit is a scarlet letter. I’ve seen folks with solid rental history and cash reserves get turned down just because they didn’t fit neatly into some box. It’s frustrating, but that’s the risk you take if you want to play in this space.
If you’re going for a mortgage on a rental with less-than-perfect credit, my take is don’t assume persistence alone will get you there. Sometimes it does, sometimes it doesn’t. But being over-prepared, having every document ready, and not taking “no” personally—that’s what’s saved me more than once. And yeah, sometimes you just have to accept that the process is messy and keep pushing until you find a lender who’s willing to see the bigger picture. Not fair, but that’s the reality.
Some lenders will work with you if you’re proactive and organized, but others act like mid-600s credit is a scarlet letter.
Man, that’s the truth. I’ve had lenders treat me like I was trying to pull off some Ocean’s Eleven heist just because my credit dipped after a big rehab project. Meanwhile, another bank barely blinked at my score but wanted to see every lease agreement since 2015. It’s like spinning a roulette wheel—never know what you’ll get. I do think being over-prepared helps, but sometimes it feels like they’re just looking for a reason to say no. The inconsistency drives me nuts.
Yeah, I’ve run into that too. Had one lender who barely cared about my credit score but wanted a forensic-level breakdown of my cash flow and every maintenance receipt. Another time, I got grilled for a 20-point dip after a tenant skipped out. It’s wild how much it depends on who’s sitting across the desk. Sometimes I wonder if they just make up new hoops as they go...
It’s wild, right? I swear, sometimes it feels like the rules change depending on what side of the bed your loan officer woke up on. I had one guy who barely glanced at my credit but wanted a spreadsheet of every dime I’d spent on repairs since 2018. Ever feel like some lenders care more about your paperwork organization than your actual finances? Curious if anyone’s ever gotten pushback for having too many small deposits—like, does selling old furniture count as suspicious now?
Honestly, I’ve run into the same thing.
It’s like they want to see you’ve got every receipt since the dawn of time. I had to explain a $200 Venmo from selling a bike—felt ridiculous. They flagged it as “unusual activity.” Makes you wonder if they even look at the big picture or just nitpick the details.Ever feel like some lenders care more about your paperwork organization than your actual finances?
