- Totally get where you're coming from.
- Just went through my first mortgage process and the paperwork was wild—had to explain a $90 PayPal transfer from months ago.
- It does seem like they're more worried about checking boxes than actually understanding your finances.
- On the plus side, I guess all this documentation is supposed to protect both sides... but man, it can feel pretty over the top.
- Hang in there—it’s a lot, but you’re definitely not alone dealing with this maze.
Paperwork is wild right now, for sure. When I bought my place last year, I had to dig up a Venmo receipt for splitting dinner with a friend—felt like I was being audited just for living life. I get that they want to make sure everything’s above board, but sometimes it feels like they’re just looking for reasons to slow things down.
I’ve heard some lenders are starting to accept alternative documentation for self-employed folks, like bank statements instead of tax returns. Not sure if that actually makes things easier or just shifts the paperwork around, though. Has anyone actually gone through the process without using tax returns? Curious if it really cuts down on the hassle or if it’s just a different flavor of red tape.
It’s wild how much stuff they want to see, right? I’ve actually gone through a bank statement loan before, and honestly, it’s not really less paperwork—just different. Instead of tax returns, you end up submitting 12-24 months of bank statements and then explaining every odd deposit or withdrawal. Lenders still want the whole story, just in a different format. One thing I’d watch for: these loans sometimes come with higher rates or bigger down payment requirements. Definitely worth weighing the trade-offs before jumping in.
Yeah, I noticed that too. I thought skipping tax returns would make things easier, but the bank statements thing is a whole different kind of hassle. I had to dig up old statements and explain a random Venmo payment from my mom... felt weird. The higher rates are kinda rough, but at least there’s an option if your taxes don’t show the full picture.
I had to dig up old statements and explain a random Venmo payment from my mom... felt weird.
Haha, the “mom Venmo audit” is real. I’ve seen folks have to explain dog-sitting money, fantasy football winnings, you name it. Did you find the bank wanted every little thing explained, or just the bigger deposits? Sometimes it feels like they want your life story...
