Most loan types require the originator to run the file through an automated underwriting system (or two). Two of the most common are Desktop Underwriter (DU) and Loan Prospector (LP). Some lenders use both automated systems and some use only one. For lenders who use both, like Bookend LendingMortgage Company, if the file is not […]
Many people wonder what the best program is for a first time buyer? The answer is dependent on the buyer’s credit score and credit profile, the buyer’s income and the amount of cash the buyer has to spend on down payment and closing costs. The combination of these items gives a loan officer clues to […]
Apply on line with Bookend LendingMortgage Company and we will obtain your 3 credit reports in a merged file, send you a consumer copy and review it with you. Everyone is entitled to a free credit report from each of the 3 bureaus each year! The one and only official site is www.annualcreditreport.com Read more about credit […]
There’s a change ahead in financing for first time buyers and others who qualify for the RD (Rural Development) loan which is sometimes also referred to as a Farmer’s Home Loan or USDA loan. The good news is the loan will still require no down payment — that’s right — no money down is needed […]
If you have less than perfect credit, you may assume that you need a large down payment to get approved, but that is not the case. If you are eligible for a VA loan or an RD (Rural Development) loan, you may be able to get approved for a loan with no down payment! […]
