FAQs

What documents should I have ready to apply for a mortgage?

Your loan officer will need paystubs, W2s, bank statements, and tax returns. Some people will require other documents like if you’re self employed or if your down payment is coming from an investment account, but your loan officer will always let you know what those things are.

Can I access my mortgage account on different devices?

Yes, our mortgage services are accessible on various devices, including smartphones, tablets, and desktop computers. You can conveniently manage your mortgage information across all your devices.

Does Byrnes Financial require a property inspection?

While property inspections are highly recommended so that you’re aware of what you’re getting yourself into, they aren’t required. It’s important to note that there is a difference between an inspection and an appraisal, which is usually required to support the value of the property you are buying.

What is the minimum down payment required for conventional, FHA, and VA loans?

Byrnes Financial offers a number of low down payment options for first time and repeat home buyers.

Conventional loans are available with a down payment as low as 3%, but keep in mind that lower down payments will require mortgage insurance which will increase the overall costs
FHA loans only require a minimum downpayment of 3.5%, but you want to consider the upfront and long term mortgage insurance.
VA loans are available with no or little down payment to eligible veterans or other eligible borrowers

I got a house under contract, how long will it take to close?

Timelines are different for each transaction, and can be affected by external forces but most of the time it takes about 30 days.

What is an interest rate lock?

Mortgages rates can change multiple times a day due to market conditions, locking your interest rate will make you immune from market changes for a set period of time.