We provide unique financial solutions.
David Clarke is third-generation mortgage banker who has been serving metropolitan New York for more than 20 years. David earned a bachelor’s degree in finance from Georgetown University and returned to New York to work alongside his father immediately upon graduation. Mary is deeply involved in the community, serving on the board of trustees at Metropolitan Museum of Art and several other civic committees. David Clarke is a certified mortgage banker (CMB) through the Mortgage Bankers Association of America. He has served on the MBA’s Legislative Committee and served on the Board of Adjustment for the City of New York. David is a regular contributor on CNBC and Fox news as well as participated on numerous industry panels.
Conventional Mortgage Loan
Conventional loans are not guaranteed nor insured by the federal government. They are an alternative to FHA loans that offer a lot more variety to the borrower. While not all properties and lenders are approved for FHA loans, almost any property can be financed with a conventional mortgage loan.
Jumbo Mortgage Loan
Jumbo loans are loans in excess of $715,000. Exceeding conventional loan limits, these loans focus on the luxury residence market. Credit and lending requirements are more stringent, but jumbo loans are available for primary, secondary, and investment properties.
Reverse Mortgage
My team and I will help you understand a reverse mortgage and see if you qualify. It lets homeowners that are at least 62 years of age convert their home equity into cash payments that can be used for daily living costs, medical expenses, home improvements, education, long-term care or even to purchase another home.
Our Office Hours
Monday
9am to 5pm
Tuesday
9am to 5pm
Wednesday
9am to 5pm
Thursday
9am to 5pm
Friday
9am to 5pm
Saturday
9am to 1pm
Sunday
Closed
Frequently Asked Questions
When you call David Clarke’s office, you’ll speak with a member of our highly professional and experienced staff. They’ll schedule you for a free consult with David to discuss your situation.
You won’t be charged a dime until you decide to work with David.
Pre-qualification determines the maximum purchase price of a house that a buyer is qualified to purchase, based on the income and debt information provided verbally to David’s team.
This pre-qualifying step is not a commitment to borrow or lend money, as the information provided by the buyer must still be verified.
Not all. Your initial consult is Free.
If you decide to work with David, David will provide a breakdown of the applicable fees based upon the type of loan you obtain.
Loan-to-value (LTV) represents the loan amount as a percentage of the current market value of a home.
It can be calculated by dividing the dollar amount of the mortgage loan by the current dollar value of a home. The LTV ratio helps determine whether the lender will require the buyer to secure private mortgage insurance to complete the loan.
A conforming loan is a mortgage that is equal to or less than the loan limit set annually by Fannie Mae or Freddie Mac, the government-sponsored agencies that purchase the bulk of U.S. residential mortgages from banks and other lenders.
The current conforming loan limit for a single-family home or condominium in most areas of the country is $417,000, with higher limits allowed for designated high-priced markets.
The terms conforming and conventional are often used interchangeably to describe these loans. Mortgage loans that are higher than the conforming loan limit are called jumbo mortgages or nonconforming loans.
- 888.555.5555
- david@davidclarke.com