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Lorne Harvey's Blog

Lorne Harvey
Updated May. 9, 2016
Welcome to Lorne Harvey's page at Lender411.. Lorne Harvey | Mortgage Loan Originator | NMLS 227839 | WA, OR, ID. Premier Mortgage Resources | NMLS 1169.
Reverse Mortgage
Updated Oct. 9, 2013
Benefits of Reverse MortgageoSecurity - government insured loanoAvailability - generally no income or credit score requirementsoPeace of mind - eliminates your monthly mortgage loan paymentoHome ownership - you maintain the exclusive title to your homeoPredictability - repayment obligation is...
Is now a good time for a VA Loan?
Updated Oct. 9, 2013
There are a couple of programs that could help VA borrowers refinance to a lower interest rate:. - VA streamline refinance or some times referred to as the (Interest Rate Reduction Refinance Loan) (IRRRL).. - The VA Cash Out Refinance.. The "streamline refinance" allows veterans with a current VA Loan to refinance...
Reserve Requirements on Departing Properties on Fannie Mae Loans
Updated Oct. 24, 2014
Reserve Requirements on Departing Properties on Fannie Mae LoansIf you are considering retaining your existing home and buying another, please note the following reserve requirement changes for Conventional Fannie Mae DU approved loans which must be manually verified.1.For DU 9.0 and after, the following...
What is a "rate lock period"?
Updated Oct. 9, 2013
What is a "rate lock period"?A rate lock or a rate commitment is a lender's promise to hold a certain interest rate and a certain number of points for you for a specified period of time while your application is processed. This prevents you from going through your whole application process and at the end of it...
Do I Need A Secured Credit Card?
Updated Oct. 9, 2013
What is a secured credit card?A secured card is typically a Visa or Mastercard that is issued based on a security deposit that you make before the card company will grant you the credit line. Usually you will need to make a deposit in the same amount as the credit line you wish to have available on the credit card. In...

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