The Financial Suit Team

The Financial Suit Team We will work with you, to learn your financial situation in depth so we can create a plan for you to reach your goals.

The Financial Suit Team
Phong Truong - NMLS #1755092
NEXA Mortgage LLC - NMLS #1660690
Branch License # 2106227
Company State License #: AZMB - 0944059
Corporate: 3100 W Ray Rd STE 201 Office # 209, Chandler AZ 85226 As an experienced Team of Mortgage Professionals, with the United States' leading brokerage, the Financial Suit Team work diligently to ensure you are well informed on today's marke

t. We have access to a major network of lenders in the USA, so your options are extensive. From there we will narrow down your options with the lenders/banks that are best suited to you. We will always ensure you are not only getting the best interest rate, but the best mortgage product suited to your specific needs. Whether you're buying your first home, an investment property, renewing your current mortgage, or even looking at consolidating current debts, We are the team to talk to. We pride ourselves on being an expert in the industry and love what we do! COMPLIANCE

"CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT-OF-POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV."https://www.sml.texas.gov/ResidentialMortgageLoanOriginator/documents/rmlo_compliance_reporting/rmlo_80_200_b_recovery_fund_notice.pdf

Quick myth I need to bust, because I get this question almost every week:"The Fed cut rates, so mortgage rates are dropp...
06/04/2026

Quick myth I need to bust, because I get this question almost every week:

"The Fed cut rates, so mortgage rates are dropping, right?"

Not quite. The Fed sets short-term rates. Mortgage rates follow the long-term bond market, which moves on its own. That is why you can watch the Fed cut and still see mortgage rates go the other way. They are two different things.

Here is what I am actually watching right now: inflation is still sticky, oil and global headlines keep adding pressure, and the economy and job market are holding up stronger than expected. All of that tends to keep rates from falling fast. My honest read is range-bound for now, not a big drop.

So what does that mean for you? Do not try to time the perfect bottom. That is a losing game. The smarter move is to know where you stand and act when a real window opens for your numbers, not when a headline tells you to.

I track this every single day so you do not have to. When there is a genuine opportunity for your situation, I will tell you straight. Have a question about your numbers? Send me a message.

Phong Truong | Mortgage Advisor | Financial Suit / NEXA Lending LLC
NMLS #1755092 | Equal Housing Lender | Licensed in TX, FL, LA

A mortgage decision does not happen in isolation.For most borrowers, buying a home or refinancing connects to their tax ...
05/30/2026

A mortgage decision does not happen in isolation.

For most borrowers, buying a home or refinancing connects to their tax strategy and their long-term financial picture. How you structure a down payment, whether to pay points, how a rental property fits into a retirement plan. These are questions that cross into tax planning and financial planning territory.

Financial Suit is a mortgage brokerage. We do not give tax advice. We do not give investment or retirement planning advice.

What we do have: a network of CPAs and financial advisors we trust. Professionals who regularly work with self-employed business owners, real estate investors, and borrowers with complex income structures.

When a client comes to us working through a mortgage decision and they do not have a CPA or financial advisor, we can make an introduction. We connect you to the right professional for the right question. That is a different job than closing a mortgage, and it requires a different kind of specialist.

If you are buying a property, refinancing, or planning a real estate investment and you want a connection to a trusted CPA or financial advisor, let us know what you are working through. We will make the right introduction.

Phong Truong | Financial Suit | NEXA Lending LLC (NMLS #1755092) | Licensed in TX, FL, LA | Equal Housing Lender
Financial Suit provides mortgage brokerage services only. Tax, investment, and financial planning advice should be obtained from licensed CPA or financial advisor professionals. Referrals are provided as a professional courtesy.

Mortgage qualification comes down to three variables. Most borrowers focus on only one of them.Liquidity. Leverage. Cash...
05/29/2026

Mortgage qualification comes down to three variables. Most borrowers focus on only one of them.

Liquidity. Leverage. Cash flow.

Liquidity is your verifiable assets: down payment, closing costs, and the reserves the lender requires after closing. A borrower who cannot document the source of their funds, or has most of their savings in illiquid form, may fail on liquidity even if their income and credit are strong.

Leverage is the loan-to-value ratio. How much you are borrowing relative to what the property is worth. At higher leverage, more programs become unavailable or require compensating factors. The equity position you bring to the transaction determines what options exist.

Cash flow is the income-to-payment relationship: your qualifying income versus the total debt load the loan adds. For self-employed borrowers and investors, this is the most misunderstood variable, because the income figure the lender uses is not always what you expect. Tax returns, bank statement deposits, and rental income all produce different qualifying income numbers depending on the program.

Most people who do not qualify conventionally have a constraint in one of these three areas. Not all three.

A self-employed borrower who writes off most of their income has a cash flow measurement problem, not a leverage or liquidity problem. A retiree with substantial investments and limited monthly income on paper has a cash flow presentation problem, not a liquidity problem. A DSCR investor qualifies primarily on leverage and property cash flow, not personal income.

Identifying which variable is the actual constraint determines which program fits and what documentation approach makes sense.

If you know you do not qualify conventionally but are not sure why, we will help you work through which of these three areas is the actual constraint.

Financial Suit | NEXA Lending LLC (NMLS #1755092) | Equal Housing Lender
DSCR programs available in 48 states. Not available in New York or Massachusetts. Program availability and qualification requirements vary by lender. This is not a loan commitment.

Many real estate investors buy properties in their personal name and then try to transfer them into an LLC after closing...
05/26/2026

Many real estate investors buy properties in their personal name and then try to transfer them into an LLC after closing.

The problem is the due-on-sale clause. Most mortgages include language that allows the lender to call the loan due if you transfer the property to an entity without their consent. The transfer you planned to make after closing may trigger a technical default.

There is a cleaner structure: closing the loan in the LLC's name from the start.

In the broker channel, some DSCR programs are designed to close with the LLC or trust as the borrowing entity. No personal income documentation is required. The property's rental income is the qualifier. What changes structurally: the note and deed are both in the entity's name on day one.

This matters for investors who are building a portfolio with an asset protection strategy. If the plan is to hold properties through a business entity, the mortgage structure should start there, not be retrofitted after the fact.

A few things this does not change: the property must be non-owner-occupied. The borrower's credit profile still matters. The cash flow relative to the mortgage payment is the primary qualifier.

Available in 48 states. Not available in New York or Massachusetts.

If you are buying investment property and want to know whether an LLC-closed DSCR structure is available for your specific file, send us the details.

Financial Suit | NEXA Lending LLC (NMLS #1755092) | Equal Housing Lender
Program availability depends on lender, state, property type, and borrower profile. This is not a loan commitment.

There is an informal documentation rule that circulates among conventional banks for self-employed borrowers.Three years...
05/25/2026

There is an informal documentation rule that circulates among conventional banks for self-employed borrowers.

Three years in business. Seven documents required (two years of tax returns, W-2s if applicable, bank statements, profit and loss, business license, CPA letter). Three months of reserves in a verifiable account.

Some banks apply this rigidly. If you are self-employed and you walk in at 18 months of business history, or your documentation does not fit the exact list, the answer is no.

Here is the problem: this is a bank policy, not a universal underwriting standard.

The actual requirements for self-employed income documentation vary significantly between conventional programs and non-QM programs. Bank statement loans require 12 or 24 months of business deposit history, not W-2s or tax returns. P&L-only loans require a CPA-prepared profit and loss statement covering 12 to 24 months. Neither program requires three years in business.

For business owners who have been operating for 12 to 24 months and are generating consistent revenue, the documentation set the bank rejected may qualify cleanly under a bank statement or P&L program.

The 3-7-3 rule is not the rule. It is the bank's rule. The wholesale channel applies different standards.

If you were denied by a conventional bank citing documentation issues and have been in business for at least 12 months, send us the details. We will review whether a non-QM program applies.

Financial Suit | NEXA Lending LLC (NMLS #1755092) | Equal Housing Lender
Documentation requirements vary by lender and program. This is not a loan commitment or program guarantee.

05/22/2026

Non-QM mortgage programs exist for every income type. DSCR, Bank Statement, P&L, Asset Depletion. Available in TX, FL, LA. Not available in NY or MA. Phong Truong | Financial Suit Team | NEXA Lending LLC NMLS #1755092 | 832.402.6558. Program availability subject to lender approval. Not a rate quote or credit commitment.

04/14/2026

"Should I use a DSCR loan or go conventional for my next rental?"

This is one of the most common questions I get from investors. And the answer depends on your situation.

Both work for investment properties. But they qualify you in completely different ways. Here's the honest comparison.

Conventional (Fannie/Freddie):

You qualify based on your personal income. Tax returns, W-2s, pay stubs. The lender calculates your debt-to-income ratio using all your obligations including existing mortgages.

Pros:
- Lower rates (typically the best pricing available)
- As little as 15% down on investment properties
- Familiar process if you've bought a primary residence

Limitations:
- Maximum 10 financed properties. After that, you're done.
- Must close in your personal name. No LLC vesting.
- Your tax returns must show enough income to support the new payment on top of everything else you owe.
- If your accountant is doing their job minimizing your taxable income, this becomes the problem.

DSCR (Debt Service Coverage Ratio):

The property qualifies itself. The lender looks at one number: does the rental income cover the mortgage payment? Your personal income isn't part of the equation.

Pros:
- No tax returns, no W-2s, no income verification
- Close in an LLC from day one
- No limit on how many properties you finance
- Faster underwriting (I've closed in 14 days)
- Available in 48 states (all except NY and MA)

Limitations:
- Investment properties only (no primary residence, no second home)
- Typically 20-25% down payment required
- The property must generate enough rent to cover or come close to covering the payment

So when does each make sense?

Use conventional if:
- You have fewer than 10 financed properties
- Your tax returns show strong income
- You want the lowest possible rate
- You're comfortable closing in your personal name

Use DSCR if:
- You're past 10 financed properties (or getting close)
- Your tax returns don't reflect your real earning power
- You want to hold properties in an LLC
- You're scaling a portfolio and need a repeatable process
- Speed matters

A lot of my clients start with conventional on their first few rentals, then switch to DSCR as they scale. The programs aren't competing. They're different tools for different stages.

Building your rental portfolio? Let's figure out which program fits where you are right now.

04/10/2026

One of my clients needed a roof inspection on a listing last month.

They called A+ Roofing. Bao Vu came out within 24 hours.

He inspected everything. Found issues they didn't even know about. Fixed the extras without being asked. Sent a detailed report the same day.

That's the kind of service that makes a difference when a deal is on the line.

In real estate transactions, timing matters. A slow or incomplete inspection report can delay a closing, kill a deal, or leave a seller exposed. Bao didn't just do the job. He looked at the whole picture, communicated clearly, and handled the small stuff without waiting to be asked.

That's rare. And it's worth recognizing.

If you need a roofer you can trust, especially on a listing or investment property, reach out to Bao Vu at A+ Roofing. I've seen his work firsthand. He takes care of people.

The best professionals in any field put the client's outcome ahead of the transaction. Bao is one of them. Grateful to have people like him in my network.

04/10/2026

Fannie Mae just approved crypto as collateral for a mortgage.

Better Home & Finance partnered with Coinbase to let buyers pledge Bitcoin and other crypto assets as down payment collateral. Fannie Mae accepted it. First time that's ever happened.

The headlines are calling it a revolution. Here's my honest take.

What it actually is:

You're not paying your down payment in Bitcoin. You're pledging it as collateral while keeping it in your portfolio. If the crypto value drops below a certain threshold, you may need to post more collateral or convert to cash. The loan itself is still a standard mortgage.

Who this actually helps:

A narrow group. You need to already own significant crypto, be comfortable with the collateral risk, and qualify for the mortgage on your income and credit profile. This isn't a path to homeownership for someone who doesn't otherwise qualify. It's a liquidity tool for crypto holders who don't want to sell.

The risk is real:

Crypto is volatile. If your collateral drops 40% the week before closing, you have a problem. This is not a product for someone who needs to stretch to qualify. It's a product for someone who has the assets and wants to keep their portfolio intact.

The bigger picture:

The mortgage industry is slowly catching up to how wealth is actually held in 2026. Crypto, business equity, investment portfolios. The old model of "show me your W-2 and your savings account" is giving way to something more flexible.

That's a good thing, as long as borrowers understand what they're signing up for.

Crypto holder curious about how this works? Let's talk through whether it makes sense for your situation.

04/08/2026

"My accountant does a great job. My taxes show almost nothing. Can I still get a mortgage?"

Yes. But not the way most people think.

Here's the honest answer.

Traditional mortgage underwriting uses your tax returns to verify income. If your accountant is doing their job, your taxable income is low. That's the point. But it creates a problem when a lender looks at your returns and says: "We can only qualify you on what you reported."

That's where alternative documentation programs come in.

Bank Statement Loans: Instead of tax returns, we use 12-24 months of business or personal bank deposits to calculate your income. Your actual cash flow, not your taxable income.

P&L Loans: A CPA-prepared profit and loss statement for the last 12 months. One year of business performance, not two years of tax history.

Asset Depletion: If you have significant liquid assets, some lenders will calculate a monthly income equivalent. Useful for business owners who pay themselves inconsistently.

DSCR (for investment properties): The property qualifies itself based on rental income. No personal income verification at all.

The common thread: These programs look at how you actually earn money, not just what you reported to the IRS.

The tradeoff is real. Rates on these programs are typically 0.25 to 0.75 higher than conventional. And you'll need a stronger down payment in most cases.

But for a lot of self-employed borrowers, the math still works. Especially when the alternative is restructuring your entire tax strategy just to qualify for a loan.

Self-employed and wondering if you can qualify? Let's look at your actual financial picture and find the right program.

Address

16225 Park Ten Place, Suite 500
Houston, TX
77084

Website

Alerts

Be the first to know and let us send you an email when The Financial Suit Team posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Shortcuts

Share

Category