I actually had a different experience—my lender mostly flagged anything over a certain dollar amount, not every little transfer. Still, it felt intrusive. I get why they do it, but sometimes it’s just regular family stuff, not mysterious income. The process can be exhausting...
Yeah, I hear you on the exhaustion part. It’s wild how much scrutiny even basic transfers get. Here’s what I’ve noticed over the years:
- Lenders seem to have their own thresholds, but sometimes it feels random. One flagged a $500 Venmo from my brother, but ignored a $2k deposit from a side gig.
- I get the compliance angle, but it’s tough when you’re just moving money between accounts or helping out family.
- I’ve started keeping a spreadsheet of all incoming transfers with quick notes—saves headaches when they start asking questions.
Curious—did your lender want explanations for every flagged transfer, or just proof of where the money came from? Sometimes they’ll accept a screenshot, other times they want a full paper trail... It’s a lot to keep up with, especially if you’re juggling multiple accounts.
Sometimes they’ll accept a screenshot, other times they want a full paper trail...
Yeah, it’s honestly a bit of a roulette wheel. Some underwriters are chill with a Venmo screenshot, others want to see the whole “money journey” from start to finish. I’ve even had one ask for a signed letter from a parent about a $200 transfer. The spreadsheet idea’s solid—makes life way easier if you’re bouncing funds around. It’s wild how inconsistent it can be, though...
Honestly, I get where you’re coming from, but I’ve found that if you prep everything upfront—bank statements, explanations for transfers, even those random $50 deposits—it cuts down on the back-and-forth. Underwriters seem less picky when you hand them a neat package. The spreadsheet’s handy, but sometimes just over-documenting from the start saves headaches. It’s a pain, but I’d rather overshare than get stuck in limbo for weeks...
Prepping Upfront Makes Sense, But How Much Is Too Much?
I’d rather overshare than get stuck in limbo for weeks...
I get what you mean about over-documenting—last time I refinanced, I basically handed the underwriter a binder that could’ve doubled as a doorstop. Every bank statement, every Venmo transfer, little sticky notes explaining what was what. It did seem to help, but part of me wonders if I made it harder by giving them more to question. Like, at a certain point, is there such a thing as giving them too much info?
I’ve noticed sometimes when I include explanations for every single deposit or transfer, they ask for even more clarification. Almost like the more details I give, the more they dig. Has anyone else noticed that? Or maybe it just depends on the underwriter’s mood that day…
Another thing I’m curious about: for folks who are self-employed and using alternative documentation (like bank statements instead of tax returns), does prepping this “neat package” actually make it smoother, or do they just find new things to nitpick? I’m all about spreadsheets and checklists, but sometimes it feels like a moving target.
Also, what’s everyone doing about those random small deposits—like birthday money, splitting dinner with friends, that kind of thing? I’ve tried flagging those in advance, but sometimes it feels like overkill. Wondering if there’s a threshold where you just leave it alone and hope it slips under the radar.
Just thinking out loud here. There’s got to be a balance between being thorough and opening a can of worms, right?
