Had a similar experience recently when I was financing an investment property. I've been self-employed for over a decade, and you'd think the track record would count for something—but nope, still got treated like it was borderline sketchy income. Ended up submitting way more paperwork than expected, even had to explain a random deposit from selling some furniture online... go figure. Guess it's just the new normal now.
Yeah, lenders have definitely tightened things up lately. Did they grill you on your business expenses too? I've seen clients get asked about tiny PayPal transfers or even birthday money from grandma... seriously. Did you end up going with a traditional lender or try out a broker? Sometimes brokers can smooth things out a bit, but honestly, paperwork overload seems unavoidable these days. Guess selling furniture online is officially suspicious now, huh?
"Guess selling furniture online is officially suspicious now, huh?"
Seems that way. When I refinanced recently, they questioned a small Venmo payment from a friend splitting dinner—seriously, $25. Brokers can help streamline things slightly, but ultimately, detailed scrutiny seems inevitable these days... patience is key.
Definitely noticing this trend too. When we refinanced last year, they flagged a random $40 PayPal transfer from my brother for concert tickets. Had to provide screenshots and everything... felt a bit overboard honestly. I get the caution—banks are just covering themselves—but it does make you second-guess every little transaction leading up to closing. Better safe than sorry, I suppose.
Had a similar experience when we bought our last rental property. They flagged a $25 Venmo payment labeled "pizza night" from my tenant—had to explain it wasn't some secret side income, just splitting dinner after fixing a leaky faucet. Felt ridiculous at the time, but I guess they're just ticking boxes. Still, makes you wonder if next time they'll ask about birthday money from grandma...
