Honestly, I get the frustration with all the paperwork, but I kind of appreciate how nitpicky they are. When I refinanced last year, they flagged a Venmo payment from my mom and wanted an explanation—felt over the top at the time, but it did make me feel like they were actually protecting me from any weirdness. I’d rather deal with a few extra forms than have something slip through the cracks. Still, a checklist would’ve been a lifesaver... I ended up making my own halfway through just to keep track.
I get where you’re coming from, but honestly, the level of scrutiny can be maddening. I’ve been through a handful of refis over the years, and every time it feels like they’re inventing new hoops to jump through. Last time, they wanted a letter explaining a $200 transfer from my business account to my personal—like, really? I get that they’re covering their bases, but sometimes it feels like they’re just making sure you’re paying attention.
That said, I do think the process weeds out a lot of potential headaches down the line. I’ve seen deals fall apart because someone missed a tiny detail early on. The checklist idea is spot on—whenever I’m working with clients, I basically force them to use one. Saves everyone a ton of stress. Still, there’s got to be a better way than combing through six months of statements for every little blip...
You nailed it about the scrutiny—sometimes it really does feel like they’re just looking for reasons to slow things down. I’ve seen underwriters ask for explanations on things that seem trivial, but I get why they do it. The checklist is a lifesaver, though. I always tell folks, “If you think it’s not important, that’s probably what they’ll ask about.” It’s a pain, but catching those details early can save a deal from falling apart at the last minute. Still, I wish there was a way to make it less of a scavenger hunt...
Yeah, the scavenger hunt vibe is real. I swear, last time I refi’d, they wanted a letter about a $50 Venmo from my mom—like, really? But you’re right, missing one tiny thing can derail the whole process. I just keep a folder of every doc now... saves me headaches later.
I swear, last time I refi’d, they wanted a letter about a $50 Venmo from my mom—like, really?
That’s wild. I just started looking into all this and already feel like I need to keep receipts for every coffee I’ve ever bought. The paperwork paranoia is real. I’m half convinced my lender’s gonna ask for my 3rd grade report card or something. A doc folder is smart, though—right now I’ve got stuff scattered between email, phone pics, and random drawers... not ideal.
