About Donald Robert Arace

With 24 years of mortgage financing experience, Donald Arace is a full-time professional manager and Loan Officer that clients have come to depend upon for guidance and advice when purchasing 1-4 unit properties, condominiums, co-ops or mixed-use properties.

Experiences when it counts:
Donald Arace has previous experience as Vice President of Originations for Columbia Home Loans, a subsidiary of Ocean First Bank, a federally chartered institution from November 1986 to June 2007; Manager of Indymac in White Plains, NY (June 2007- August 2008); and Prospect Lending (September 2008 – to present,); and brings his years of experience to bear when dealing with borrowers seeking mortgage financing. 

Donald Arace is a leading guest speaker and teacher for real estate association functions and client seminars on varied mortgage products and programs available in the market place.  First-time home buyers programs, FHA 203K rehabilitation loans and private mortgage lending options for high net worth individuals are just some of topics he has covered.

 Donald Arace’s deep-dive discussions with borrowers helps consumers choose the proper mortgage program for their unique situation.  The seminars also help the borrower understand the mortgage process, including common concerns such as  interest rates and closing costs. The goal is to prepare borrowers for the application, while setting the proper expectations about the loan process which ultimately helps bring about a quick and efficient closing that satisfies everyone.

Career Awards and Community highlights:

• 2010 recipient of the Affiliate of the Year Award by the Westchester Putnam Association of Realtors.  Former recipient of the same award 1999.
• Presidents Club, Prospect Mortgage 2009 and  2010
• 2005 Westchester Interfaith Housing Corporation Outstanding volunteer effort 
• Harriet Goldberg award for the Homeless of Westchester 2004
•  2003 and 2004 Co-Chairman “Hearts for the Homeless,” a non-profit organization for the Westchester Real Estate foundation
• Member of the Legislative committee for the Westchester Board of Realtors for the past 10 years to present
• Former Committee associations: Member Services Committee and Financial Services of the Westchester Board of Realtors.
• Former Director for the Women’s Association of Professional Mortgage Bankers
• Member of the Realtors Women’s council.
• Contributing writer to the Westchester In-Depth Real Estate Magazine
• Dale Carnegie Graduate.
• Iona College Graduate, B.A. Accounting.