Phoenix Loan Solutions NMLS# 1996635 is a company built on resilience, relationships, and an unrelenting drive to provide the best loan solutions to their customers. John and Tim, the founders of Phoenix Loan Solutions, have an inspiring story that perfectly encapsulates the entrepreneurial spirit.

John grew up in New Jersey and made his way to Florida over 30 years ago. He bought his first house with no money down and took out a renovation loan to fix it up. After successfully selling that house, he used the profits to buy another one and got hooked on real estate. John continued buying foreclosures and fixing them up, learning the ins and outs of the business along the way. 

Meanwhile, Tim grew up in Arkansas and joined the navy when he was 21 years old. After serving for four years, he moved to Florida in 1997 and became an insurance agent, specializing in life and health insurance. He then transitioned into finance and met John at a brokerage he was working at in 2000. Tim started working for John in 2004 at Premier Mortgage Funding, and their career paths have been closely linked ever since. 

Starting Phoenix Loan Solutions

In 2008, the financial crisis hit, and the entire real estate landscape changed in a drastic way. John and Tim were still working together, but the crash sent significant ripples through the whole industry. Much of the work dried up and people scattered across the market. But through it all, John and Tim always got together socially and kept in touch.

After the dust settled, they eventually decided to branch out on their own and create a new company that took a new approach toward its customers. When people heard that they were getting together to start up a business on their own, many of their old co-workers wanted to jump on board too.

Phoenix Loan Solutions was officially founded in 2020. The name "Phoenix" pays homage to the image of a bird rising up from the ashes, a symbol of rebirth and renewal after the 2008 financial crisis. All the people that John and Tim used to work with are now back with them again to form a strong, dedicated team that’s committed to providing a human-centered approach that helps people find the right loan solution for their needs. 

While starting a business is typically a challenging prospect, John and Tim already had a strong client base and reputation across the Sarasota area. Phoenix has been steadily growing since the beginning, with 22 employees now working at the company.

“We look at everybody as a family and a team. You rely on everyone’s edge and expertise, a group of people with unique experience and knowledge, put it all together in one room and you’ve got a powerhouse.” – Tim 

John and Tim are incredibly grateful to all the people who’ve worked with them and supported their journey over the years.

What Separates Phoenix Loan Solutions Apart

John and Tim prefer to be hands-on with their clients, opting for face-to-face meetings whenever possible. While they do have a simple and user-friendly loan application process, they know that human connection is what’s really necessary to build trust and rapport with people.

“There’s always the human touch. It’s a relationship business. You have someone coming to you for help, so you want to be there for them.” – Tim 

Phoenix Loan Solutions sets itself apart from other home loan solutions by being outside-the-box thinkers. They get a lot of clients who were turned down by banks, and they take the time to get to know each client on a personal level, to address factors that the banks don’t consider. They also have alternate income document programs that are great for self-employed people, who notoriously struggle to secure loans from major banks.

Something else that sets Phoenix apart is their commitment to building long-term relationships with clients and real estate agents, even if there’s no immediate financial incentive to do so. They’ll happily offer advice to clients who aren’t ready for a loan and help them get to a better position where it’s possible.

“If we look at the competition, they’re more focused on what they can get done right now. If they can’t benefit from something now, they move on.” – Tim

“A lot of the time we’re talking to agents and educating them about the programs that are out there and all the loans that can be done.” – John

One such program is called Hometown Heroes, which provides 100% financing for nurses, firefighters, teachers, and other essential workers. This program was initially offered by banks, but now many banks are pulling out of the program. Thanks to their wide network of respected lenders, Phoenix is able to continue offering those loans, along with many other unique solutions to fit specific needs.

“Our construction to perm loans for people who want to build homes were pretty much dormant, but we actually found a few lenders who still want to do them. Now we actually have the ability to finance the builder so they don’t have to go out and find a buyer to start building a spec home, so that’s something a lot of people won’t take the time to do.” – John

Looking into the Future

When asked about their plans for the future, John and Tim say that they are always looking to grow, but the current market isn’t ideal for expansion into other states and markets. For now, they’re enjoying the team camaraderie they’ve built and come together on a weekly basis to catch up.

“You learn a lot about each other and people really learn how to work together by socializing, so it’s a big part of what we do.” – John

With competitive compensation and a strong focus on mentorship, John and Tim are committed to taking the time to bring hard-working young employees up to speed. In their experience, the mentorship program they run at Phoenix has been an effective way to help their employees thrive in the industry.

John and Tim are eager to see where their organic growth takes them from here as the journey continues to unfold.