it turned into a whole side investigation about my side gigs
That hits home. Had a client last year who kept every receipt “just in case” and the underwriter got fixated on a $200 Venmo payment for a friend’s birthday cake. Whole process slowed down while we explained it wasn’t business income. Honestly, I tell people to stick to tax returns, official contracts, and bank statements unless the lender asks for more. But yeah, that “sweet spot” is a moving target—depends on the lender and even the mood of the underwriter, it seems.
That hits home.
Yeah, the “mood of the underwriter” part is spot on. I had one ask for a year’s worth of PayPal screenshots—like, who even keeps those organized? Honestly, every time I try to get ahead of their questions, it just backfires. Less is more, I guess.
The “mood of the underwriter” is honestly one of the most unpredictable variables in the whole process. I’ve seen clients with nearly identical financials get wildly different requests—sometimes it feels like they’re just looking for something to trip you up. The PayPal screenshots thing is actually more common than you’d think, especially for freelancers. I usually recommend folks keep a digital folder with monthly statements and payment records, but even then, it’s tough to anticipate every curveball.
Trying to preempt their questions can definitely backfire. In my experience, giving them exactly what they ask for (and nothing extra) tends to work best—too much info just opens new cans of worms. It’s frustrating, but you’re not alone in this. The system isn’t really designed for non-traditional income streams, which is a shame considering how many people work this way now. Hang in there... it’s a slog, but it does eventually work out.
Totally get where you’re coming from. When I refinanced last year, I felt like I was playing some weird game of “guess what the underwriter wants today.” One week it was bank statements, the next it was random Venmo screenshots. I tried to be proactive too, but you’re right—sometimes that just made things messier. It’s wild how much luck seems to factor in, even when your numbers are solid. Hang in there... it really is a slog, but eventually they run out of hoops for you to jump through.
Honestly, I still don’t get why they need to see every single transaction from my PayPal or Venmo. When I bought my place, they even questioned a $40 deposit from a friend—like, does that really impact my ability to pay a mortgage? Sometimes I wonder if the process is designed to just wear us down. I get wanting to be thorough, but it borders on ridiculous.
