I get where you’re coming from, but I kinda see why they do it. When I refinanced last fall, they flagged a Venmo from my cousin for splitting pizza. At first, I thought it was overkill, but my loan officer said they’ve seen folks try to sneak in all sorts of weird income. Still, it’s hard not to roll your eyes when you’re explaining a $10 transfer for movie snacks... It’s annoying, but I guess they’re just covering their bases.
Yeah, they really dig into everything. When I went through my refi, they actually questioned a $25 PayPal from my brother labeled “birthday tacos.” I had to send screenshots of our texts just to prove it wasn’t some secret side hustle. It does feel like overkill sometimes, but I guess with all the fraud out there, they’re just being thorough... still kind of awkward explaining every random transfer though.
Yeah, the level of scrutiny can feel a bit much. I’ve seen underwriters ask about $10 Venmo transfers labeled “pizza night”—it’s wild. On one hand, it’s frustrating to dig up explanations for every little thing, but with all the fraud and money laundering out there, I get why they’re cautious. Still, sometimes I wonder if they could use a little more common sense... not every $25 is a side gig. Hang in there—it’s annoying, but you’re definitely not alone.
I had to laugh reading this because when I was going through my first mortgage, the underwriter flagged a $14 PayPal payment labeled “dog treats.” They wanted to know if it was a recurring expense or a side hustle. I mean, really? I get why they’re careful, but sometimes it feels like they’re just looking for reasons to slow things down. It’s not like I’m running a secret business selling Milk-Bones out of my apartment...
That’s wild, but honestly, I’m not surprised. When I refinanced last year, they flagged a Venmo payment I made to my sister for splitting pizza. They wanted to know if it was a loan repayment. I get the need for due diligence, but sometimes it feels like they’re just nitpicking for the sake of it. Do they really think a $12 pizza split is going to tank my ability to pay a mortgage? Makes me wonder how much is actually about risk and how much is just bureaucracy.