"David is an excellent Mortgage Professional. He has many years of experience, and has survived the most tumultuous time in our industry. He has great understanding of the processes and regulatory changes that have changed the landscape of the mortgage business. With his knowledge & experience, he has the ability to move the loan from application to closing in an painless & efficient manner. I highly recommend David for any of your mortgage needs."
"I have worked with David for many years over and he has always put is clients' interests first. He is extremely knowledgeable in the business and would always make sure his clients are always taken care of. David is a broker with high integrity and very honest. I would recommend David to anyone I know."
"I trust David absolutely. His work ethic is impressive. His knowledge of the mortgage markets and how to navigate them and produce results is unparalleled. After working in the mortgage industry myself for over 12 years, I get asked for mortgage advice often. I make sure that my friends and family work with David. He is incontrovertibly the best Mortgage Broker I have ever met. I wouldn't even consider working with anyone else."
"David is speedy and professional. He has completed loans not only for me but for my entire family as well. I highly recommend him as he will not only explain to you all of your options but also take the time to go over the pros and cons of it all."
"It is with honor and pride that I recommend David Feathers. He is an amazing person for whom doing the right thing is not only his code, but also the standard he holds for those around him. I held the distinct pleasure of closing escrows for David from 2005 until my departure from having a 'desk' in 2011. It was hard knowing that I wouldn't necessarily see or talk to him (or his wonderful wife) on an almost daily basis anymore. David Feathers is a consummate professional to whom I sent my children's Kindergarten teacher to when she bought her home! I trust him, and you can too."
"David is one of the most knowledgeable people I know in the mortgage business. If David cannot get a loan done then it can't be done. He has so much experience it would take too long to list and he really fully utilizes this experience to help people. He is fair, reasonable and really has the customer's best interest at heart. I trust him with my mortgage and I highly recommend him to anyone who needs a Mortgage Broker."
"I was a client with Dave 2 plus years ago. He was instrumental to getting me into my current home, and I cannot say enough to compliment the man as a true professional! As a first time home buyer who went through the doubting & reluctance phases, I found Dave to be an honest, educating, and non-pressuring 'breath of fresh air.' Dave took the time to sit with me, go over my credit report, give me handouts on the current realty forecasts/statistics on the house in the community I was interested in, and he gave me a thorough education on mortgage rates, APRs, lenders, FHA loans, and general financing. Dave was genuine in his interest for my family and needs. He's subsequently followed up with me years later as rates have trended down, and has advised me, not to his benefit, but to mine. Dave is someone who can be trusted to secure a (low) fair rate along with education, attention to detail, and caring follow-up. I cannot thank Dave enough for saving me THOUSANDS of dollars, and he is the first & only person I will turn to & recommend to others in the future!"
The process itself can be extremely daunting in today's economic reality. Many Banks and Credit Unions as well as Mortgage Lenders are taking in excess of three months to close a mortgage loan right now. It is our belief that they just don't have the processes down well enough.
The first thing you will need is your tax and banking information as well as your personal information to obtain a credit report. This pre-qualification process should take only a few minutes and with a knowledgeable professional at the wheel should go smooth from there. An application cannot be taken by law until there is a property address chosen (for a refinance this is easy, for a purchase you must have chosen a home to buy). Our mortgage application appointments can take as little as 30 minutes, or as much as 3-4 hours depending on the borrowers and we make sure that there is an actual approval and accepted lock by the bank at the program you choose before you leave.
We believe that ALL questions need to be answered up front in order for the process to go smoothly. Soon (a day or so after the initial application) the loan needs to be into underwriting. Underwriters double check the information submitted and issue an underwriting approval - usually with conditions. At this time and this time only should an appraisal be ordered. Once the conditions are back and the appraisal has been received the entire package is sent to the underwriter to be signed off. Once the conditions are accepted it is time to close the loan. This can be accomplished in as little as 14 days and once again this rarely takes more than a month.
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Are the qualifications for a program at one bank the same as the programs at another bank? What is the difference between FHA, VA, Conventional, USDA, Portfolio, Jumbo and Private Money mortgages? What is mortgage insurance and do you have to pay it? What is the difference between a fixed rate, adjustable or short term fixed mortgage? It is our mission at Avelloe to properly explain and educate our clients about the many programs and options available and to effectively communicate those options in a clear and concise manner in order to make sure that our borrowers are matched with the proper mortgage that fits their unique qualification, situation, wants and needs.
It is extremely important to understand that there are anywhere from one to three levels of qualifications in every mortgage program. The first is known as the guidelines. Guidelines are rules that are created by a bank in a portfolio product or by the secondary market (where mortgages are sold and traded) that decide on a macro-economic level who qualifies for what mortgage program and where it is priced. The next level of qualification is called an "Overlay". An overlay is a bank specific guideline (on a non-portfolio product) that is used by their underwriters to further restrict who they want to lend to. Common overlays are DTI (debt to income ratio - 36,42,50,+??), FICO scores (will they lend to a Borrower with a 580 score or only 720 and above) and LTV (Loan to Value - what is the equity position required in the property?). The third level of qualification has to do with mortgage insurance companies and whether or not mortgage insurance is even needed. It is extremely important for people to understand that if they want more than one bank's options and pricing they need to contact a fully independent Mortgage Broker like Avelloe Mortgage and get the education they deserve.