Overview of the Loan Process

THE LOAN PROCESS: A Step-by-Step Guide

Shaffer Mortgage makes it easy from start to finish. Here's a step-by-step guide to help you find your way through the
process of securing a loan.

Make the right choices

1. Select a real estate agent.

2. Choose Robert Shaffer as your lender and pre-qualify for a mortgage loan.

3. Find property in your price range.

4. Sign a purchase and sale agreement.

5. Complete loan application authorizing lender to order property appraisal, credit verification and title insurance

Process the Loan

6. Loan processor orders necessary documentation and verifications.

7. Lender receives credit report and verifications.

8. Loan officer contacts borrower if questions arise,

9. Lender receives property appraisal.

10. Loan processor packages loan and submits to underwriting for approval.

11. Loan officer notifies borrower of underwriting conditions,

12. You determine when to lock in interest rate.

13. Loan processor verifies that underwriting conditions have been met.

14. Loan processor provides loan documents to escrow agent or attorney for closing.

15. Loan processor receives report that property has clear title.
Finalize your loan

16. You and seller sign closing loan documents.

17. Loan processor sends final loan documents to funding for review,

18. Deeds are recorded and the lender disburses funds,

19. Loan closes.

20. Thanks to Robert Shaffer, you move into your new home!

REFINANCE LOAN
Lower your monthly payments, lock in a better interest rate or change the terms of your mortgage – refinancing makes it all possible! Plus, you can get cash out if you have enough equity in your home!

PURCHASE LOAN
1st time buyer? Seasoned Investor? We can help. Jump start the loan process by taking a few minutes to submit your information online. Easy and fast, really!

PRE-QUALIFICATION
Not sure what type of loan you are going to apply for? Fill in our pre-qualification form and let us help you determine the right loan for you! We are always here to help.