Title: Why Is Getting a Mortgage So Hard When You're Self-Employed?
“I’ve had a few deals where they got hung up on the tiniest things—like a $50 Venmo from a friend for concert tickets.”
That’s honestly not surprising at all. I’ve seen underwriters ask for explanations on $20 deposits that were clearly just someone splitting dinner. It’s wild how much scrutiny some of them apply, especially with self-employed clients. I think you’re right—it really does come down to the lender and sometimes even the mood of the underwriter that day.
There’s this perception that underwriters are just looking for big red flags, but in my experience, they can get fixated on the smallest details if something doesn’t fit their checklist exactly. I had one client who got grilled over a PayPal transfer labeled “thanks!”—turns out it was just his sister paying him back for groceries. We had to dig up text messages to prove it wasn’t business income. That level of detail feels excessive, but I get why they do it... sort of.
It’s definitely not just you. The inconsistency is what drives people nuts. One file sails through with barely any questions, and the next one gets held up over a random $35 Zelle payment. Sometimes I wonder if there’s an internal competition for “most obscure documentation request.”
Keeping docs organized helps, but even then, you can’t predict what’ll catch their eye. I always tell clients to be ready for anything—if you’re self-employed, assume every line on your bank statement is fair game for questioning.
Honestly, it feels like there’s no universal standard. Some lenders are more flexible or have underwriters who understand self-employment nuances better than others. But yeah, those tiny transactions? They’re definitely not invisible to everyone reviewing your file... unfortunately.
Isn’t it wild how a $30 Venmo from your roommate for pizza can trigger a full investigation, but a $2,000 check from “Aunt Linda” sails through? I get the need for due diligence, but sometimes it feels like underwriters are playing detective with the world’s most boring clues. Has anyone actually had an underwriter ask about their Starbucks transactions? Or is it just me who gets flagged for caffeine intake?
Title: Why Is Getting a Mortgage So Hard When You're Self-Employed?
sometimes it feels like underwriters are playing detective with the world’s most boring clues
Totally get where you’re coming from. I’ve had to explain $15 Venmo transfers for splitting groceries, but a random $1,500 deposit from “family” didn’t even get a second glance. It’s not just you—underwriters seem to zero in on anything that looks “unusual,” even if it’s just coffee runs. My advice: keep a running list of explanations for every weird transaction. Makes the process less painful when they inevitably ask.
Yeah, it’s wild what they focus on. I had to explain a $12 PayPal from my friend for pizza, but they didn’t care about a big transfer from my business account. It’s like they’re just picking random stuff to question. Honestly, keeping receipts and notes on anything that isn’t a paycheck has saved me so much hassle. Still feels like a weird game of “prove you’re not laundering money,” though...
It always cracks me up how they’ll flag a tiny Venmo for coffee, but then a four-figure invoice just slides right through. I swear, the logic behind what gets questioned is anyone’s guess. I get that they’re trying to catch fraud, but sometimes it feels like they’re just bored and picking random stuff for fun. Keeping a paper trail for every oddball transaction is the only way I’ve stayed sane through this process. Still, you’d think they’d focus more on the actual big transfers if they’re worried about money laundering... not pizza night.
