Phong Truong - Financial Suit Team

Phong Truong - Financial Suit Team The Financial Suit Team
Phong Truong - NMLS #1755092
NEXA Mortgage LLC - NMLS #1660690
Branch Lice

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 market. We will work with you, to learn your financial situation in depth so we can create a plan for you to reach your goals. We have access to a major network of lenders in the USA, so your options are extensive. From ther

e 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

07/25/2026

I look at my closed files sometimes and realize it's been a year, sometimes two, since I've actually talked to some of the people in them. Not about a rate, not about a refinance. Just talked.

That's on me. The mortgage business moves fast, and it's easy to let a relationship go quiet once the file closes, even when the actual relationship was never about the file.

So if you closed with me a while back and we haven't caught up: no pitch here. I'm not calling to sell you a refinance you don't need. I just think about the people I've worked with more than I reach out to them, and this weekend felt like a good time to fix that a little.

If you want to grab coffee, catch me up on how the house is treating you, or just say hey, my door's open. And if a friend or family member is thinking about buying and doesn't know where to start, that's still the easiest way to reach me too.

Have a good weekend.

Phong Truong | Financial Suit | NEXA Lending LLC (NMLS #1660690) | Phong Truong (NMLS #1755092) | Equal Housing Lender
Licensed in TX, FL, and LA.

Buy, rehab, rent, refinance, repeat. The BRRRR strategy only works if the refinance actually happens on schedule, and th...
07/24/2026

Buy, rehab, rent, refinance, repeat. The BRRRR strategy only works if the refinance actually happens on schedule, and the part that trips people up is seasoning.

Seasoning is the minimum time you have to own a property before a lender will let you cash-out refinance based on its new, renovated value instead of your original purchase price.

Conventional cash-out refinances typically require 6 months of ownership before you can pull cash out based on the current appraised value. Some programs offer a delayed financing exception that can work sooner, but only up to your actual purchase cost, not the improved value.

DSCR loans, which qualify on the property's rental income rather than your personal income, often use a comparable seasoning window depending on the lender, with underwriting built specifically around investment properties.

The number that actually matters for your BRRRR math isn't just the seasoning period. It's whether your after-repair value and your rent will support the refinance you're planning once that window closes. Run both numbers before you buy the property, not after.

If you're building a BRRRR pipeline and want to know what your actual timeline looks like, let's map it out.

Financial Suit | NEXA Lending LLC (NMLS #1660690) | Phong Truong (NMLS #1755092) | Equal Housing Lender
Seasoning requirements and program terms vary by lender and loan type. This is educational only, not a loan commitment. Licensed in TX, FL, and LA.

If you've been renting and telling yourself you need 20 percent down to buy, you're working off the wrong number.Three r...
07/23/2026

If you've been renting and telling yourself you need 20 percent down to buy, you're working off the wrong number.

Three real programs worth knowing if you're a Houston-area first-time buyer:

City of Houston Homebuyer Assistance: a forgivable, no-interest loan up to $75,000 toward your down payment and closing costs, forgiven after 5 years in the home. Property has to be inside Houston city limits.

Harris County Down Payment Assistance: up to $40,000 ($27,100 base) for homes in unincorporated Harris County, outside the city limits.

TDHCA My First Texas Home: 2 to 5 percent of your loan amount toward your down payment, available statewide either side of that line, and you may be able to combine it with the Texas Mortgage Credit Certificate, a separate tax credit that lowers what you owe every year you have the loan.

And the baseline everyone forgets: FHA loans start at 3.5 percent down on their own.

The real question isn't whether you can buy. It's which program actually fits your numbers. I'll be at a community event August 8 talking through exactly this, but you don't have to wait until then. Ask me what you qualify for.

Financial Suit | NEXA Lending LLC (NMLS #1660690) | Phong Truong (NMLS #1755092) | Equal Housing Lender
Programs, eligibility, and down payment assistance amounts are subject to change and lender or program approval. This is not a loan commitment or a guarantee of assistance. Licensed in TX, FL, and LA.

Some weeks I close a file I'm proud of. Some weeks I lose one I shouldn't have, or a pipeline goes quiet and I don't kno...
07/22/2026

Some weeks I close a file I'm proud of. Some weeks I lose one I shouldn't have, or a pipeline goes quiet and I don't know why yet. I talk about both with the loan officers around me, not just the wins.

That's honestly most of why NEXA works for me. Non-QM files, DSCR, bank-statement, P&L, foreign national, ITIN, that other shops pass on, I didn't figure those out alone. Other LOs walked me through them, and I try to do the same for whoever's next.

I built an AI-assisted system for my own pipeline mostly because I got tired of losing time to busywork. Happy to show anyone how it works, not holding it as some secret.

If you want the real mechanics, comp, lenders, how NEXA is actually structured, that conversation happens at the weekly Thursday "Why NEXA" session with Mike Kortas or Brandon Himler. That's the honest place for it, not this post.

What I've actually got to offer is simpler: tips, tricks, a system, and someone to call when a file gets weird or a week goes sideways. If that sounds useful, let's talk. No pitch, just comparing notes. Book a slot: https://phong.financialsuit.com/mastermind-session

Financial Suit / NEXA Lending LLC. Phong Truong, Team Lead. NMLS #1755092 | NEXA Lending LLC NMLS #1660690.

Linh T., khách của Phong, mua nhà và được người thân gift tiền để phụ down payment với closing costs. Phần còn lại vẫn v...
07/22/2026

Linh T., khách của Phong, mua nhà và được người thân gift tiền để phụ down payment với closing costs. Phần còn lại vẫn vay loan bình thường, gift chỉ đỡ phần đầu vô thôi.

Vấn đề: tiền gift chuyển thẳng vô account của Linh TRƯỚC khi hỏi Phong. Mới tới bước pre-approval, nhìn hồ sơ là Phong thấy liền chuyện sắp rắc rối. Bank thấy tiền lạ vô account là hỏi nguồn gốc. Mà nguồn là gift thì lender đòi xem luôn bank statement của người tặng, để chắc tiền đó có thật chứ không phải mượn chỗ khác.

Người tặng đâu có muốn đưa statement cá nhân ra. Nếu để tới underwriting mới lòi ra thì hồ sơ đứng chắc luôn. May là bắt được từ pre-approval nên còn dư thời gian sửa.

Cách sửa: Linh trả tiền gift lại cho người thân. Người thân làm cashier's check đề tên thẳng Title company, gửi trước closing một ngày. Tiền khỏi đi qua account của Linh, khỏi cần statement người tặng, hồ sơ sạch, closing đúng hẹn.

Gift fund nghe thì dễ, làm sai thứ tự một bước là ôm cả đống giấy tờ không cần thiết. Nên định nhận gift mua nhà, nhắn Phong TRƯỚC khi tiền vô account. Một tin nhắn, đỡ bao nhiêu rắc rối.

(Tên đã đổi để bảo mật.) Chi tiết hồ sơ và cách giải quyết là thật.

Financial Suit | NEXA Lending LLC (NMLS #1660690) | Phong Truong (NMLS #1755092) | Equal Housing Lender
Thông tin chỉ mang tính giáo dục, không phải cam kết cho vay. Cấp phép tại TX, FL, LA.

Every few weeks an investor asks me the same question: should I buy this one in my LLC?Here's the honest split.Conventio...
07/21/2026

Every few weeks an investor asks me the same question: should I buy this one in my LLC?

Here's the honest split.

Conventional financing (Fannie Mae, Freddie Mac): in almost every case, the loan has to close in your personal name. Lenders qualify you, the person, and the LLC does not have a credit file or income history for them to underwrite against.

DSCR loans are different. Most DSCR lenders will close in an LLC, because the loan qualifies on the property's rental income, not your personal income or credit alone. That is one of the reasons investors building a portfolio lean toward DSCR as they scale, alongside the liability separation an LLC can provide.

If you are scaling a rental portfolio and the LLC question keeps coming up, let's talk through your specific numbers.

Financial Suit | NEXA Lending LLC (NMLS #1660690) | Phong Truong (NMLS #1755092) | Equal Housing Lender
Program availability and title-holding requirements vary by lender. This is educational only, not legal or tax advice. Licensed in TX, FL, and LA.

Your CPA depreciated the truck. Wrote off the home office. Ran the mileage deduction. All of that is smart tax planning,...
07/20/2026

Your CPA depreciated the truck. Wrote off the home office. Ran the mileage deduction. All of that is smart tax planning, and all of it can shrink the income a conventional lender sees on your return.

Here is what most self-employed borrowers do not know: some of those deductions can be added back.

Depreciation is the big one. It is a paper expense, not real cash leaving your business, so several loan programs let a lender add it back to your qualifying income. Certain other non-cash or one-time expenses can work the same way, depending on the program and the underwriter's read of your return.

This is not a loophole. It is standard underwriting for borrowers whose tax return does not reflect their actual cash flow, and it is one of the first things I check before I tell a self-employed client no.

If you were told your income was too low to qualify and nobody walked your return line by line looking for add-backs, that conversation is worth having again.

Financial Suit | NEXA Lending LLC (NMLS #1660690) | Phong Truong (NMLS #1755092) | Equal Housing Lender
Qualifying income calculations vary by program and lender. This is educational only, not a loan commitment or a guarantee of approval. Licensed in TX, FL, and LA.

05/01/2026

A builder's sales rep called me last year with a problem.

Her client, a buyer with foreign income, buying a new build in the Houston area, had just been denied by the builder's in-house lender. The in-house lender could not calculate foreign income from the tax returns and assumed the deal needed a non-QM program with higher rates, bigger down payment, and a longer close.

The buyer was about to walk.

Five slides on how it actually played out — and why 21 days to close on a Conventional loan is not the rare outcome people think it is.

(Tap through →)

Here is the lesson I want loan officers, builders, and buyers to hear:

The first no is not always the right no. Foreign income does not automatically mean non-QM. It means you need a loan officer and account executive combination that knows how to document it for a conventional loan.

Twenty minutes on the phone with the right AE. The right wholesale partner. The right file-reading. Twenty-one days to close.

If you have been denied for something that does not match your file, send me the denial letter. The first answer is not always the right one.

Phong Truong | Financial Suit Team | NEXA Lending LLC NMLS #1755092 | Licensed FL · TX · LA | 832.402.6558

Composite case drawn from real file activity. Not a loan commitment, rate guarantee, or program eligibility. Timelines and programs vary by lender, file, and underwriting outcome.

Seven out of ten homebuyers went over budget on their last purchase. Half of Gen Z buyers and 44 percent of millennials ...
04/24/2026

Seven out of ten homebuyers went over budget on their last purchase. Half of Gen Z buyers and 44 percent of millennials have been at risk of missing a mortgage payment in the last two years. 14 percent of them have been at risk six or more times.

Those numbers come from the ServiceLink 2026 State of Homebuying Report, released this week. They are the industry's clearest confirmation of something I have been telling my clients for two years: the maximum loan you qualify for is not the loan you should take.

Here is what the over-budget pattern looks like in real life:

- 29 percent of borrowers said they put down a larger down payment than they wanted, gutting their emergency cushion
- 29 percent took a higher rate than they planned, because they could not wait for a better window
- 28 percent borrowed more than they intended, because the house they wanted was above the pre-approval they ran

The math on all three is the same. Emotion narrowed the window, and the transaction closed at the edge of what the borrower could carry, not the middle.

Across the industry, 69 percent of loan officers in the same report said over-extension is their number one concern in this market. I agree with them. And I run my pre-approval conversation differently because of it.

I do not ask what is the max we can get you. I ask what monthly payment do you want to live inside for the next five years, and what does everything else in your life look like next to it. Then I work backward to the loan.

That is why my pre-approvals close at a high rate. It is also why when I say you qualify, the number is one you will still be happy with the morning after closing.

If you have been pre-approved by someone else and the payment feels tight, get a second opinion before you sign. Ten minutes on the phone. No credit pull. Just math.

Phong Truong | Financial Suit Team | NEXA Lending LLC NMLS #1755092 | Licensed FL, TX, LA | 832.402.6558

Source: ServiceLink 2026 State of Homebuying Report, released April 14, 2026. This is not a loan commitment or rate guarantee.

Here's a number most FSBO conversations skip. Let me run it.You sell a $400,000 home. A traditional listing agent takes ...
04/23/2026

Here's a number most FSBO conversations skip. Let me run it.

You sell a $400,000 home. A traditional listing agent takes 3 percent, that's $12,000.

FSBO route, you keep that $12,000.

If you roll it into the down payment on your next home, say a $500,000 purchase, you reduce the principal by $12K. On a 30-year mortgage at today's rates, that's roughly $75 less per month, $900 per year, $27,000 saved in interest over the life of the loan.

Total: $12K commission kept plus $27K interest saved equals $39,000 you hold onto, just by listing your current home yourself instead of hiring a listing agent.

That math is why I just became an official loan-officer partner with FSBO.com. I help homeowners list their own home, prequalify every buyer who inquires, and run the process so they don't miss anything. I take zero commission on your sale. I make my money on the buyer's mortgage, whether they buy yours or the next home they look at.

The catch: FSBO isn't for everyone. It works if you have a realistically-priced home, you're willing to run an open house or two, and you're OK being responsive to buyer inquiries. If any of that sounds like more than you want to take on, a traditional agent is probably the right call.

If the math works for your situation, text me. 30-minute call to walk through your specific scenario. No credit pull, no sign-up commitment, just numbers.

Phong Truong | Financial Suit Team | NEXA Lending LLC NMLS #1755092 | Licensed FL, TX, LA | 832-866-2468

Not a loan commitment. Interest savings estimates use current 30-year fixed rates and may vary by credit, property, and program. FSBO.com partnership does not obligate you to use Phong Truong for any mortgage financing.

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