August 13, 2025 • 28 mins
Joseph Shalaby is the CEO and Broker of E Mortgage Capital Inc., a top-performing mortgage firm licensed in over 48 states. A UCSB graduate with honors and former law student at Abraham Lincoln University, Joseph has spent over 20 years in the mortgage industry, earning recognition from the Scotsman Guide, UWM Elite 100, and the BBB Torch Award. Known for his integrity-driven and innovative approach, he has helped expand E Mortgage Capital to 900+ licensed loan officers and 40+ physical locations nationwide.
Born in Cairo and raised in California, Joseph’s journey was shaped by his family’s resilience—especially his father’s rise from gas station worker to licensed physician. These experiences fueled his commitment to restoring the American Dream through accessible homeownership solutions and exceptional client service.
Beyond business, Joseph founded the Shalaby Foundation to fight social injustice and support underserved communities through education and faith-based initiatives. His hands-on volunteer work, especially with the homeless, reflects a deep passion for giving back and creating lasting impact beyond the boardroom.
During the show we discussed:
- Mortgage eligibility for self-employed borrowers and required docs
- How lenders verify self-employed income
- Special loan programs for entrepreneurs
- Business income’s impact on DTI ratio
- Considering business debts in applications
- Tax and financial statement requirements
- Using business assets for down payment/reserve
- Multiple income streams and loan approval
- Personal vs. business credit checks
- Strengthening applications with fluctuating income
- Refinancing for self-employed borrowers
- Income history needed before refinancing
- Benefits of cash-out refinancing for business growth
- Refinancing investment or second homes
- Refinancing’s impact on future business credit
- Latest loan options available
Resources:
https://www.emortgagecapital.com/
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:02):
(Transcribed by TurboScribe.ai. Go Unlimited to remove this message.) Welcome to the Business Credit and Financing Show.
Each week, we talk about the growth strategies
that matter most to entrepreneurs.
Listen in as we discuss the secrets to
getting credit and money to start and grow
your business.
And enjoy as we talk with seasoned business
owners, coaches, and industry leaders on a variety
(00:22):
of topics from advertising and marketing to the
nuts and bolts of running a highly successful
business.
And now, to introduce the host of our
show, financial expert and award-winning author, Ty
Crandall.
Hello, and thanks for joining us today.
I'm super excited you could be here.
Today, we're talking about basically home loans.
We're talking about refinancing.
We're talking about being able to get a
(00:43):
home loan to be able to buy a
property.
I mean, this is your guide to home
loans and refinancing.
And really, we're gonna address key questions that
you probably have as an entrepreneur in your
quest to actually get a loan for your
dream home.
So with us today is Joseph Shalaby.
Now, he is the CEO and broker at
eMortgage Capital, Inc., a top-performing mortgage firm
licensed in over 48 states, a UCSB graduate
(01:08):
with honors and former law school student at
Abraham Lincoln University.
Joe has spent over 20 years in the
mortgage industry, earning recognition from the Scotsman Guide,
UWM Elite 100, and the BBB Torch Award.
Known for his integrity-driven and innovative approach,
he has helped expand eMortgage Capital to 900
-plus licensed loan officers and 40-plus physical
(01:31):
locations nationwide.
So he was actually born in Cairo and
raised in California, and his journey was shaped
by his family's resilience, especially his father's rise
from gas station worker to licensed physician.
Now, these experiences fueled his commitment to restoring
the American dream through accessible home ownership solutions
and exceptional client service.
Now, beyond business, Joe has founded the Shalaby
(01:53):
Foundation to fight social injustice and support underserved
communities through education and faith-based initiatives, and
his hands-on volunteer work, especially with the
homeless, reflects a deep passion for giving back
and creating lasting impact beyond the boardroom.
Joe, thanks for joining us today.
Absolutely, I'm here.
I'm here to serve, here to help in
whatever way I can.
Yeah, I appreciate it.
I mean, I think, let's start with some
(02:15):
of the basics.
I think all of our audience are entrepreneurs,
all of our audience are business owners, and
one of the biggest concerns we have when
we're out there trying to get a mortgage
is income verification.
So let's kind of start there.
Can self-employed borrowers still qualify for home
loans nowadays?
Absolutely, there's many, many ways a self-employed
borrower can qualify for a home loan.
(02:36):
One is a bank statement product.
So we allow business bank statements anywhere from
three months to 24 months, depending on how
much that owner is willing to disclose.
The second option is debt service coverage ratio.
They don't have to, that's for investment properties
only.
And the third option is just a no
(02:59):
documentation loan, purely off of credit and down
payment.
They need at least 20% down with
700 minimum FICO.
So there's three different options at a bank.
Oh, we do have a profit and loss
only loan as well that will help various
business owners.
But candidly, if they got bank statements or
they have a good credit score, we can
(03:20):
make it work either way.
It's all depending on what kind of rate.
The bank statement loans are pretty much in
line with typical conventional loans.
So on the bank statement loans, are they
looking at bank statements personally or are they
looking at the bank statements for the business?
We can take both.
So they take both.
And how do they determine what our income
is based on the business bank statements, for
example?
(03:41):
They'll just look at gross deposits.
So they're gonna look at gross deposits and
use that, the gross deposits for the business,
100% of it to determine what our
income is?
Correct.
And they do the same thing on the
individual side as well?
Now, no DOC, what kind of LTV are
we looking at with a no DOC?
80 LTV.
So that's 20% down.
And then if you're looking at the bank
(04:01):
statement loan about what kind of loan to
value do you get on something like that?
That allows you to go a little bit
high and go anywhere from 80 to 90.
Okay, so bank statement loan, 80 to 90.
You mentioned DSCR.
Are DSCR available in the same range, 80
to 90%?
DSCR is about 80%.
Okay, so about 80%.
And then I've never heard of the P
&L loan before.
(04:21):
So a P&L-based loan, we're using
that for income.
What kind of loan to value are we
looking at for something like that?
80% as well.
Okay, so we can usually, as a self
-employed borrower, there's multiple options.
I think we just talked about four of
them.
Get in to buy or refinance a home
using some of these options and get in
for as much as 80 or 90%
down.
(04:42):
That fairly accurate?
Correct.
Okay, and any other ones, are there any
other specialty programs that you're dealing with that
are perfect or work really well for entrepreneurs?
Well, we have so many various products.
So we have ITIN loans, we have like
foreign national loans, we have various commercial products.
So really like self-employed borrowers are primarily
(05:05):
our clientele because we do so much bank
statement business and so much DSCR business.
They pretty much fall within all those buckets.
There's really not like, and we label it
as a self-employed loan, but they're really,
they fall under those qualifying categories, DSCR, bank
statement, P&L.
And you said that the rates are somewhat
similar with some of these loans as like
(05:26):
- Yeah, they're in the 7% to
8% range.
And we can do refinance, cash refinance, purchase
- Correct.
Construction of these kinds of income- We
do have construction as well.
Okay, VA, I'm a veteran, so I have
a question on this because I think Trump
in his last time in office, or maybe
I'm wrong on this, removed the cap on
(05:47):
VA loans.
Is that accurate?
I mean, like if I can prove my
income for a VA loan, how high of
a loan amount am I able to go
out and secure?
You can get a couple million bucks now
on a VA loan.
So is that like the ceiling is 2
million?
Yeah.
And then with a VA loan, about how
much money is expected to be able to
put down on something like that?
Zero.
So you can get in with a VA
(06:08):
loan with no money down, rolling closing costs
and everything up to $2 million, but it's
completely full dock, is that right?
Correct, full dock.
Unless you're doing a streamline, a VA EARL,
and that's no documentation.
So, and then if I'm doing a no
dock VA loan, what kind of loan to
value can you usually get up to?
Well, that's just streamlining your existing VA loan.
(06:29):
Oh, so you have an existing VA loan,
and then what do you mean by streamlining
it?
We just basically drop the rate to whatever
the market rate is.
Okay, so I already have a VA loan.
You're able to get me in to adjust
the rate downwards, hope, you know, obvious, I
wouldn't want to adjust it upwards.
If the rates are currently lower.
Correct.
And what you're doing now, and you work
with a lot of self-employed borrowers, what
(06:50):
is one of your favorite loan programs that
you deal with?
My favorite loan is the VA loan.
The VA purchase is the best product out
there because the rates are the best and
qualifying is more lenient.
But if you're not a veteran, which most
aren't, it's the no dock loan because the
no dock loan allows you to get into
a house with no documentation, no income, very
(07:13):
easy to qualify for, and you just need
a good credit score and a heartbeat.
So what kind of credit score do you
need for something like that?
You need at least a 700 and the
down payment, 20%.
So 20% down, 700.
If I had 20% down, 700 FICO,
I could pretty much get in without worrying
about any kind of income verification.
That's right.
What if I'm acquiring businesses?
(07:34):
Is it a requiring property for a real
estate investment?
What kind of loan values do I look
at if I'm using a property for investment
and not something I plan on living in?
Yeah, so those are typically gonna fall under
the DSCR range or the DSCR product.
You're gonna wanna make sure that, number one,
that the property you're looking at covers, the
(07:55):
debt service covers.
So you don't get a lot of that
in California.
It's always out of state.
What state are you in, Ty?
I'm in Tampa, Florida.
Tampa.
So you'll get some now and it's dissipating
quickly in Tampa area.
You also have the option to go, multi
-units are very, very helpful when you're trying
to DSCR product because you could use the
(08:17):
culmination of rental incomes amongst the multi-units.
And then we also offer them on apartments
as well.
But by far- The DSCR loans that
go up to 80, 90% and you
said those- 85 is, I would say,
the good benchmark.
So I have 15% down.
And then I'm able to get in there
with, you think you mentioned that the DSCR
is stated income.
(08:37):
It's no income.
So it's no income.
We don't have to show income on a
DSCR or even put what our income is.
Right, yeah.
It's just a matter of- It's purely
off of the coverage of the mortgage.
Okay, makes perfect sense.
Now, what about down payment?
We've talked a lot about down payment, 10,
15, 20%.
What can be used as a down payment?
So for example, like if I, can I
(08:58):
use my business accounts, my business accounts to
take a down payment out of for an
individual mortgage, for example?
Absolutely.
So does it matter where I get the
money from or do I need to-
It has to be seasoned.
So you have to have it in your
account.
So if it's your business account, it has
to be there for 60 days.
If it's a personal account, it has to
be there for 60 days.
(09:18):
So make sure if you're using cash, it
just can't be mattress money.
It has to be in the account for
at least two months.
Yes, you got to validate whatever source I'm
coming from, but it doesn't matter where I
pull the money from.
Does it create an issue that I have
multiple income streams?
I've got money coming in from rentals and
investments and money coming in from multiple businesses.
Some's W-2, some's 1099.
(09:39):
Does that really create a big obstacle when
it comes to trying to get a home
loan?
It's all, they're going to look at your
K-1s and just basically see what your
actual distribution is, whether it's a management fee
or whatever it is.
So you mentioned commercial earlier.
If I'm looking at a residential mortgage, sure
they look at my consumer credit scores.
On commercial loans, do they even look at
(10:01):
business credit scores?
Is business credit scores, I'm curious, is that
calculated, taken into account in their approval decision?
So business credit scores are not used for
residential mortgage.
Now we do offer corporate owned properties and
those are commercial properties and that's where we
can look at the corporation as a solution
if they have business credit, but we don't,
(10:22):
that's not really our wheelhouse.
So I can't really advise on how to
attain a property using a corporate credit score.
Okay, so corporate credit is applicable on the
commercial side, obviously not in the residential side,
but it could be in the commercial side.
Just your specialty is residential, really not commercial.
My specific, like we do offer commercial.
We have loan officers here that just do
(10:44):
commercial.
We do like five commercial transactions a month.
Wow, okay.
What are other things that affect my ability
to get approved and get the best rate?
Like what are other factors that lenders look
at?
We've talked about loan devalue.
We've talked about credit.
We've talked about income verification.
What are some other things that I should
be doing or working on to strengthen my
(11:05):
application to try to get the best home
loan?
Well, obviously assets, reserves, employment stability, and income.
That's really, those are the three variables.
So any idea, like job, is there a
certain preference where I should do my job?
If you're gonna do a full dock conventional
loan, you wanna be on the job W
(11:26):
-2 for at least a year, at least
one year.
If you're coming from self-employed to W
-2, you need to have two years at
that W-2 job.
Okay, makes perfect sense.
Besides those things, those are the main factors
that lenders look at?
Those are the main variables.
Now, there's gonna be things like you're a
new citizen or you just got your green
card or something.
That'll be factored in, not to the actual
(11:49):
rate, but to the actual qualifying parameters.
Okay, makes perfect sense.
So not a U.S. citizen or a
new citizen, other factors take into account there.
Right.
What are the, is now even a good
time to really do refinances and cash out
considering rates have gone up so much over
the last few years?
I mean, the rates are the rates.
They're not going down for the next, I
(12:11):
don't think they'll ever go down from like,
I mean, they may go down like five
and a half percent, but we're never gonna
see COVID rates.
That's just not gonna happen.
If we saw COVID rates, we'd be in
total chaos for housing because there would be
no houses.
We already have a housing shortage and the
rates are seven and a half percent or
(12:32):
7%.
And it's already hard to get your offer
accepted.
Can you imagine if the rates went to
two and a half percent?
It'd be a frenzy.
So now is a great time because one
thing is a fact about real estate is
that it's finite.
And there's definitely no shortage of people trying
to buy a house right now.
(12:54):
So what do you see across the country?
Because you guys work in 48 states, supply
versus demand.
Like where are we at right now?
We're seeing like demand slow and pricing come
down in Texas because builders just overbuilt.
But we're consistently seeing year over year.
And if you follow me on Instagram, I
(13:15):
do release content daily on what's happening with
various economic trends.
But we are seeing housing continue to rise
pretty much everywhere nationwide.
For values, you're seeing the same thing with
values as well?
Yeah, yeah, values are rising.
And rates are pretty much stable.
They've stabilized for the last three, four years
(13:37):
at six and a half to seven and
a quarter.
Makes perfect, yeah.
So you're not gonna see rates in the
low twos or threes ever again.
It's not gonna happen.
We can't even afford it.
Sure, because if the rates went that low,
there's not enough inventory.
There's not even enough inventory now.
What are you seeing with foreclosures?
(13:57):
Do you see any kind of interesting trends
of foreclosures considering?
We are seeing an uptick in foreclosures as
well.
So foreclosures have gone up.
They haven't skyrocketed, but we are seeing them
rise just because affordability is tough for people.
Inflation's really hitting homes hard and just cost
of living is just through the roof.
(14:18):
Now, our people are like, well, I'm gonna
buy a foreclosed property.
Like that's not gonna happen.
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BlackRock's gonna get to it way before you
do.
Yeah, are they just snagging up all the
foreclosures they can get?
We're seeing a lot of movement by big
hedge funds acquiring properties.
(14:59):
So I'm hoping there's legislation to slow that
down.
Do you think, what do they do with
the properties?
I mean, do they rent them out?
Do they turn around and sell?
Yeah, they keep them in their portfolio and
rent them.
I mean, they're not big money makers, but
they're going up.
Right.
People like holding property in their portfolio.
Sure.
What about in California?
I'm interested just because you're out on that
(15:21):
coast.
In LA, have you heard anything or seen
anything about what's going on with all the
rebuilding in those areas that were devastated out
there?
No movement yet.
Nothing.
It's not even cleaned yet.
Do you think they'll move pretty quick on
getting all that resolved?
Or is that gonna be- No, that's
gonna be years out.
Yeah.
I'm hoping our lifetime.
(15:41):
Wow.
Yeah, I know that California's not the fastest
moving state that I've seen in the nation,
as you're pretty much aware.
So that doesn't surprise me necessarily at all.
What about refinancing an investment property into a
better term as a second home?
Things like that still possible?
So refining an investment property right now, investment
(16:02):
rates are, they're ugly.
So I don't know what the rate is
someone would have on an investment property, but
if they're happy with the rate in the
mid sevens, then yeah, we could look at
something.
What about investment properties?
I know we talked briefly about that, but
do you still see that there's a lot
of good properties out there for investors to
be able to grab if they're looking in
(16:23):
the right place?
Yeah, we're seeing like opportunities, many, many various
opportunities popping up just because people are desperate.
People are desperate to sell.
And we're seeing a lot of price drops
in certain areas as well.
So I think right now, and I always
say this, when there's blood in the streets,
there's opportunity.
So there's a lot of blood in the
streets right now with real estate.
(16:43):
So there's a lot of opportunity presented.
So keep your ear to the ground and
just see, when someone's interested in selling, because
as rates drop, more inventory will pop up.
So moving on to their two and a
half percent rates.
But once they get into the fives, it's
game on.
Yeah, I'm interested.
I know you're on the mortgage side.
(17:03):
What do you think about all these changes
in real estate, real estate commissions and everything
that came down over the last, I guess,
year or so?
Like, how are you seeing that really impact
the industry?
Because everybody in the real estate agent side
obviously has one story about how it adversely
affects the entire industry.
But you're not in that.
Like, you're in a mortgage side.
So you're neutral.
So I'm interested to see, like, what are
(17:24):
you seeing?
Like, how much of an impact did all
of these changes, how much of this is
really gonna have on the real estate industry
as a whole?
It's just making the industry more transparent.
In the mortgage space, we had the same
thing happen to us, where we had to
disclose our compensation.
And everyone thought it was gonna be Armageddon.
What did it do?
It just made us better originators.
(17:45):
It made us more transparent with our clients.
It allowed the clients to know how much
money is being made on the transaction.
Same thing's happening in real estate.
They're just treating it as a frenzy.
All a consumer knows now is how much
they're paying the realtor.
They're like, I don't wanna pay 25 grand.
Well, they kinda knew that they were paying
that anyways, because it was built into the
(18:06):
purchase price.
Now they're just paying it out of the
seller's side, I mean, the buyer's side.
So nothing really changed.
It hasn't hurt anybody.
It just made the industry more transparent.
And that's all we wanted, was transparency.
Before, everyone was hiding their commission.
Now, everybody knows their commission.
Is it gonna help rich buyers?
(18:27):
It could, maybe they could say, hey, I
don't wanna pay 25 grand, I wanna pay
20.
It gives them a little bit more negotiating
power.
But most good realtors aren't gonna work for
peanuts.
Do you think that buyers are having a
harder time now finding buyer's agents with all
the problems or all the changes?
No, I don't think so.
I think buyers now, a little bit more
savvy, so they're just reaching out to the
(18:49):
selling agent directly and just kinda pigeonholing the
situation so they get the best execution.
I'm seeing a lot of that, where buyers
just go straight to the selling agent.
Yeah, they don't go try to go get
an agent first.
I imagine that would be the case.
So this seems like this was really beneficial
to those that just focused on, that are
selling agents or doing both, but more hurtful
(19:10):
to those that were just wanted to be
buyer's agents and not involved with the listing
of properties.
Yeah, that's right.
So buyer's agents are a little bit hurt,
but they're the ones who are the, and
the buyer's agents who don't perform and don't
do a lot of business are the most
hurt, because they're just, they've always been trying
to do more.
They always did a little bit of business
anyways.
Yeah, what other, outside of that, what other
(19:30):
trends are you seeing developed that maybe we
don't hear as much out about on the
real estate or mortgage side?
On the mortgage front, it's just more products
are becoming available.
We're catering to a lot lower credit scores
now.
We're going to, we're offering products for very,
very low credit folks.
And one thing that we're seeing a lot
(19:50):
of emergence in is like other verticals, like
the cannabis business.
Like we're starting to land on cannabis companies.
So like very, like emerging markets are coming
up and we're offering, and we'll see a
lot more in the crypto space as well.
So we'll see, we'll be able to use
crypto as valid income soon.
Wow, that would be a game changer for,
(20:12):
you mean, especially for like down payment on
homes?
Yeah, right now we're able to offer the
crypto buyers just with no doc or DSCR
products.
Right.
Like influencers who don't have income as well
do the, use that strategy.
So if I'm getting a DSCR of 15
% down and I have crypto as my
down payment, can I use crypto as my
(20:34):
down payment?
I mean, not now as a title company,
but if I liquidated the crypto and that
was where I verified the, that it had
been there for two months, can I do
that?
You can.
Yeah.
So I can verify that it's been there
two months as my source of funds, but
I have to liquidate it.
It can be done at closing or by
title companies, what you're saying.
That's right.
Yeah, title companies are, and the credit cards
(20:55):
are the same way, right?
Like a title company can't use a credit
card as a down payment.
No, they cannot.
What other restrictions are there with how money
can be used as a down payment?
Cause I know we can't use crypto, we
can't use credit cards, any other things that
we really can't do to use down, those
down payments?
I mean, make sure you have your reserves,
make sure that you wire it straight into
(21:18):
escrow.
And then if there, if you don't have
the seasoning requirement, you could get a gift
from a family member.
So that could help someone who hasn't had
the seasoning or needs to close now and
doesn't want to wait on seasoning.
So it sounds like someone like you with
a ton of experience in your team, you're
very good at exceptions.
Here's the rule.
And then not finding a way around the
(21:40):
rule, but then finding ways to be able
to get exceptions to that rule.
Yeah, getting creative with the strategy.
That's what we do.
It's like, we really get creative with helping
our clients achieve home ownership.
How did you do this?
I mean, I talked to a lot of
mortgage guys, like what you've built and the
size of it.
I don't remember how many we talked about
(22:01):
here, but what 900 plus loan officers.
Like, how did you go from where you
started in this business to getting as big
as you guys are now?
So what our model is, is we are
basically kind of like a hedge fund for
mortgage companies.
So let me explain what that is.
Effectively, we're like kind of like a McDonald's.
Everyone just piggybacks on our ecosystem.
(22:23):
They leverage our licensing technology, HR, IT, the
legal, the compliance, the audits, the surety bonds,
a lot of the branding, the marketing, the
training, the coaching, all the onboarding resources.
And they spend nothing for it.
They have a variable cost.
And we then allow them to use our
(22:43):
ecosystem and scale their company.
And I realized early on when I started
the company that there was a need for
mortgage companies to have a backend ecosystem that
was stronger than theirs.
Because mortgage brokers are just small shops.
We're considered a mega broker because we're a
(23:04):
broker and a banker.
So we lend our own money and we
broker a lot of the loans.
So we have every product under the sun.
So there's just a need for mortgage companies
to piggyback on an ecosystem where they can't
afford a fraction of the resources we have.
So I realized there was a need for
it.
There was a need for more licensing, more
states, more support, more community, more collaboration.
(23:28):
And I tried to fill a need.
I realized this back in 2015.
There was something similar to this before the
crash of 08.
And I just brought it back.
And I brought it back with more resources
and more technology.
And now we're really closing the gap.
Like it doesn't make sense for any mortgage
company to own their own company when they
(23:50):
have a company like ours to piggyback on
that costs them $0, that helps them scale
infinitely, and it doesn't have any expenses associated.
Well, how can they truly have pay $0
and have no expenses?
How do you guys even make money?
They just use all of our resources.
We charge them a flat percentage of their
gross revenue.
(24:11):
So you're just charging them a flat percentage
and then everything else that they need to
basically be able to run a shop, you
basically are giving the entire infrastructure.
That's right.
So they need to like, if they wanna
market, they gotta pay for that.
They wanna brand, they gotta pay for that.
But yeah, they basically piggyback on us for
everything.
Right, and then are they ultimately setting up
the equivalent of like a franchise?
(24:33):
It's not technically a franchise, but effectively, yes.
So do they have- But they keep
their own brand.
So it'd be like Credit Suite Group powered
by EmoRich Capital.
Oh, so it's powered by, and then do
you only allow certain, like at a franchise,
you only have a certain amount in a
certain area?
So I'm in Tampa, can I be the
(24:54):
only e-mortgage guy here?
No, no, we have several in Tampa.
Okay, makes perfect sense.
Yeah, it's a really interesting model.
Like I think it's really cool that you
came up with that.
How long have you guys been around?
We started in 2011, we incorporated in 2015.
Wow, so you've been around a long time.
Long time.
(25:14):
When you deal with so many different types
of financial products, how do you train your
FOs, man?
Like that's a, your loan officers, I mean,
like that's a really hard thing to learn
so many different products.
That's a great question.
So we're in the business of making businesses.
It's really up to the originator to take
the initiative to educate themselves on various products.
(25:35):
Like we can't do, we hold their hand,
but there's only so much hand-holding we
can do.
Like we train, we coach, we have training
calls every day, we have coaching calls, we're
available for questions, we're available for meetings.
Like we're there for them whenever they need
us.
But at the end of the day, they
got to put in the work.
(25:55):
So we do a weekly call with various
investors that we're rolling out new investors every
week.
We do a daily training of some sort
or two.
So we're always in the weeds helping these
guys train.
Wow, Joe, love what you guys have built
there and done.
We just kind of scratched the surface with
a lot of questions I think that are
subjective that a lot of our audience would
(26:16):
have.
And you can help them almost every...
Actually, I'm actually curious, you're in 48 states.
What are the two states you're not in?
Vermont, Massachusetts.
Wow, those are two completely random that I
did not think.
I was going- And New York.
Well, Vermont, Massachusetts is about to be approved,
so.
Okay, I was going with Alaska and Hawaii
were my two guesses.
I was completely wrong on my guesses there.
(26:37):
So, all right.
Well, then anybody watching the 48 states and
these two that are about to be approved,
and they want to get more information, they
want to take a step to either be
able to learn more about construction, building, or
refinancing, residential, or you've got commercial guys there
too.
Where should they go?
What action should they take?
So they go to the website, Joe, or
email me.
Our website's emortgagecapital.com, Joe at eMortgage Capital,
(26:59):
or follow me on any social media platform.
Just my name, Joseph Chalabi, on Instagram, TikTok,
YouTube, Snapchat, LinkedIn, wherever you are on social
media, Facebook, whatever.
All right, perfect.
Thanks for coming on with us today.
Absolutely, thank you, Ty.
All right, so listen, if you're watching this,
I mean, this is one of the most
favorable mortgage companies that exist for entrepreneurs, right?
(27:21):
And that's why he came on here, because
a lot of you have come to me
and said, hey, I'm trying to buy a
property, I'm trying to refinance a property, and
they don't like you because you're self-employed,
right?
Well, now you've found the solution, and Joe
actually, I think, ripped out four or five
right off the cup solutions that could work
for you wherever you are.
So make sure that you go to emortgagecapital
.com.
If you go to emortgagecapital.com, there's a
(27:42):
lot of great stuff.
You're even able to find a loan officer
in your area, amongst many other things.
Find Joe on social as well.
He's got some phenomenal content that you'll find
out there, and I'll put a link to
be able to find him on the show
resources page as well.
But again, don't let being self-employed or
being a business owner hold you back from
being able to get your dream home or
(28:02):
to refinance or to build, because you can
do it.
It's just about finding a mortgage company that
works well with entrepreneurs, and that's exactly what
eMortgage Capital does.
So make sure you check them out at
emortgagecapital.com.
Thanks for tuning in.
Take care.
Have a great day.
(28:24):
You've been listening to the Business Credit and
Financing Show with your host, Ty Crandall.
Watch for our next episode to get even
more insight on financing and growing your business.
And don't forget to check us out online
at creditsuite.com for even more business growth
strategies.
(Transcribed by TurboScribe.ai. Go Unlimited to remove this message.) Welcome to the Business Credit and Financing Show.
Each week, we talk about the growth strategies
that matter most to entrepreneurs.
Listen in as we discuss the secrets to
getting credit and money to start and grow
your business.
And enjoy as we talk with seasoned business
owners, coaches, and industry leaders on a variety
(00:22):
of topics from advertising and marketing to the
nuts and bolts of running a highly successful
business.
And now, to introduce the host of our
show, financial expert and award-winning author, Ty
Crandall.
Hello, and thanks for joining us today.
I'm super excited you could be here.
Today, we're talking about basically home loans.
We're talking about refinancing.
We're talking about being able to get a
(00:43):
home loan to be able to buy a
property.
I mean, this is your guide to home
loans and refinancing.
And really, we're gonna address key questions that
you probably have as an entrepreneur in your
quest to actually get a loan for your
dream home.
So with us today is Joseph Shalaby.
Now, he is the CEO and broker at
eMortgage Capital, Inc., a top-performing mortgage firm
licensed in over 48 states, a UCSB graduate
(01:08):
with honors and former law school student at
Abraham Lincoln University.
Joe has spent over 20 years in the
mortgage industry, earning recognition from the Scotsman Guide,
UWM Elite 100, and the BBB Torch Award.
Known for his integrity-driven and innovative approach,
he has helped expand eMortgage Capital to 900
-plus licensed loan officers and 40-plus physical
(01:31):
locations nationwide.
So he was actually born in Cairo and
raised in California, and his journey was shaped
by his family's resilience, especially his father's rise
from gas station worker to licensed physician.
Now, these experiences fueled his commitment to restoring
the American dream through accessible home ownership solutions
and exceptional client service.
Now, beyond business, Joe has founded the Shalaby
(01:53):
Foundation to fight social injustice and support underserved
communities through education and faith-based initiatives, and
his hands-on volunteer work, especially with the
homeless, reflects a deep passion for giving back
and creating lasting impact beyond the boardroom.
Joe, thanks for joining us today.
Absolutely, I'm here.
I'm here to serve, here to help in
whatever way I can.
Yeah, I appreciate it.
I mean, I think, let's start with some
(02:15):
of the basics.
I think all of our audience are entrepreneurs,
all of our audience are business owners, and
one of the biggest concerns we have when
we're out there trying to get a mortgage
is income verification.
So let's kind of start there.
Can self-employed borrowers still qualify for home
loans nowadays?
Absolutely, there's many, many ways a self-employed
borrower can qualify for a home loan.
(02:36):
One is a bank statement product.
So we allow business bank statements anywhere from
three months to 24 months, depending on how
much that owner is willing to disclose.
The second option is debt service coverage ratio.
They don't have to, that's for investment properties
only.
And the third option is just a no
(02:59):
documentation loan, purely off of credit and down
payment.
They need at least 20% down with
700 minimum FICO.
So there's three different options at a bank.
Oh, we do have a profit and loss
only loan as well that will help various
business owners.
But candidly, if they got bank statements or
they have a good credit score, we can
(03:20):
make it work either way.
It's all depending on what kind of rate.
The bank statement loans are pretty much in
line with typical conventional loans.
So on the bank statement loans, are they
looking at bank statements personally or are they
looking at the bank statements for the business?
We can take both.
So they take both.
And how do they determine what our income
is based on the business bank statements, for
example?
(03:41):
They'll just look at gross deposits.
So they're gonna look at gross deposits and
use that, the gross deposits for the business,
100% of it to determine what our
income is?
Correct.
And they do the same thing on the
individual side as well?
Now, no DOC, what kind of LTV are
we looking at with a no DOC?
80 LTV.
So that's 20% down.
And then if you're looking at the bank
(04:01):
statement loan about what kind of loan to
value do you get on something like that?
That allows you to go a little bit
high and go anywhere from 80 to 90.
Okay, so bank statement loan, 80 to 90.
You mentioned DSCR.
Are DSCR available in the same range, 80
to 90%?
DSCR is about 80%.
Okay, so about 80%.
And then I've never heard of the P
&L loan before.
(04:21):
So a P&L-based loan, we're using
that for income.
What kind of loan to value are we
looking at for something like that?
80% as well.
Okay, so we can usually, as a self
-employed borrower, there's multiple options.
I think we just talked about four of
them.
Get in to buy or refinance a home
using some of these options and get in
for as much as 80 or 90%
down.
(04:42):
That fairly accurate?
Correct.
Okay, and any other ones, are there any
other specialty programs that you're dealing with that
are perfect or work really well for entrepreneurs?
Well, we have so many various products.
So we have ITIN loans, we have like
foreign national loans, we have various commercial products.
So really like self-employed borrowers are primarily
(05:05):
our clientele because we do so much bank
statement business and so much DSCR business.
They pretty much fall within all those buckets.
There's really not like, and we label it
as a self-employed loan, but they're really,
they fall under those qualifying categories, DSCR, bank
statement, P&L.
And you said that the rates are somewhat
similar with some of these loans as like
(05:26):
- Yeah, they're in the 7% to
8% range.
And we can do refinance, cash refinance, purchase
- Correct.
Construction of these kinds of income- We
do have construction as well.
Okay, VA, I'm a veteran, so I have
a question on this because I think Trump
in his last time in office, or maybe
I'm wrong on this, removed the cap on
(05:47):
VA loans.
Is that accurate?
I mean, like if I can prove my
income for a VA loan, how high of
a loan amount am I able to go
out and secure?
You can get a couple million bucks now
on a VA loan.
So is that like the ceiling is 2
million?
Yeah.
And then with a VA loan, about how
much money is expected to be able to
put down on something like that?
Zero.
So you can get in with a VA
(06:08):
loan with no money down, rolling closing costs
and everything up to $2 million, but it's
completely full dock, is that right?
Correct, full dock.
Unless you're doing a streamline, a VA EARL,
and that's no documentation.
So, and then if I'm doing a no
dock VA loan, what kind of loan to
value can you usually get up to?
Well, that's just streamlining your existing VA loan.
(06:29):
Oh, so you have an existing VA loan,
and then what do you mean by streamlining
it?
We just basically drop the rate to whatever
the market rate is.
Okay, so I already have a VA loan.
You're able to get me in to adjust
the rate downwards, hope, you know, obvious, I
wouldn't want to adjust it upwards.
If the rates are currently lower.
Correct.
And what you're doing now, and you work
with a lot of self-employed borrowers, what
(06:50):
is one of your favorite loan programs that
you deal with?
My favorite loan is the VA loan.
The VA purchase is the best product out
there because the rates are the best and
qualifying is more lenient.
But if you're not a veteran, which most
aren't, it's the no dock loan because the
no dock loan allows you to get into
a house with no documentation, no income, very
(07:13):
easy to qualify for, and you just need
a good credit score and a heartbeat.
So what kind of credit score do you
need for something like that?
You need at least a 700 and the
down payment, 20%.
So 20% down, 700.
If I had 20% down, 700 FICO,
I could pretty much get in without worrying
about any kind of income verification.
That's right.
What if I'm acquiring businesses?
(07:34):
Is it a requiring property for a real
estate investment?
What kind of loan values do I look
at if I'm using a property for investment
and not something I plan on living in?
Yeah, so those are typically gonna fall under
the DSCR range or the DSCR product.
You're gonna wanna make sure that, number one,
that the property you're looking at covers, the
(07:55):
debt service covers.
So you don't get a lot of that
in California.
It's always out of state.
What state are you in, Ty?
I'm in Tampa, Florida.
Tampa.
So you'll get some now and it's dissipating
quickly in Tampa area.
You also have the option to go, multi
-units are very, very helpful when you're trying
to DSCR product because you could use the
(08:17):
culmination of rental incomes amongst the multi-units.
And then we also offer them on apartments
as well.
But by far- The DSCR loans that
go up to 80, 90% and you
said those- 85 is, I would say,
the good benchmark.
So I have 15% down.
And then I'm able to get in there
with, you think you mentioned that the DSCR
is stated income.
(08:37):
It's no income.
So it's no income.
We don't have to show income on a
DSCR or even put what our income is.
Right, yeah.
It's just a matter of- It's purely
off of the coverage of the mortgage.
Okay, makes perfect sense.
Now, what about down payment?
We've talked a lot about down payment, 10,
15, 20%.
What can be used as a down payment?
So for example, like if I, can I
(08:58):
use my business accounts, my business accounts to
take a down payment out of for an
individual mortgage, for example?
Absolutely.
So does it matter where I get the
money from or do I need to-
It has to be seasoned.
So you have to have it in your
account.
So if it's your business account, it has
to be there for 60 days.
If it's a personal account, it has to
be there for 60 days.
(09:18):
So make sure if you're using cash, it
just can't be mattress money.
It has to be in the account for
at least two months.
Yes, you got to validate whatever source I'm
coming from, but it doesn't matter where I
pull the money from.
Does it create an issue that I have
multiple income streams?
I've got money coming in from rentals and
investments and money coming in from multiple businesses.
Some's W-2, some's 1099.
(09:39):
Does that really create a big obstacle when
it comes to trying to get a home
loan?
It's all, they're going to look at your
K-1s and just basically see what your
actual distribution is, whether it's a management fee
or whatever it is.
So you mentioned commercial earlier.
If I'm looking at a residential mortgage, sure
they look at my consumer credit scores.
On commercial loans, do they even look at
(10:01):
business credit scores?
Is business credit scores, I'm curious, is that
calculated, taken into account in their approval decision?
So business credit scores are not used for
residential mortgage.
Now we do offer corporate owned properties and
those are commercial properties and that's where we
can look at the corporation as a solution
if they have business credit, but we don't,
(10:22):
that's not really our wheelhouse.
So I can't really advise on how to
attain a property using a corporate credit score.
Okay, so corporate credit is applicable on the
commercial side, obviously not in the residential side,
but it could be in the commercial side.
Just your specialty is residential, really not commercial.
My specific, like we do offer commercial.
We have loan officers here that just do
(10:44):
commercial.
We do like five commercial transactions a month.
Wow, okay.
What are other things that affect my ability
to get approved and get the best rate?
Like what are other factors that lenders look
at?
We've talked about loan devalue.
We've talked about credit.
We've talked about income verification.
What are some other things that I should
be doing or working on to strengthen my
(11:05):
application to try to get the best home
loan?
Well, obviously assets, reserves, employment stability, and income.
That's really, those are the three variables.
So any idea, like job, is there a
certain preference where I should do my job?
If you're gonna do a full dock conventional
loan, you wanna be on the job W
(11:26):
-2 for at least a year, at least
one year.
If you're coming from self-employed to W
-2, you need to have two years at
that W-2 job.
Okay, makes perfect sense.
Besides those things, those are the main factors
that lenders look at?
Those are the main variables.
Now, there's gonna be things like you're a
new citizen or you just got your green
card or something.
That'll be factored in, not to the actual
(11:49):
rate, but to the actual qualifying parameters.
Okay, makes perfect sense.
So not a U.S. citizen or a
new citizen, other factors take into account there.
Right.
What are the, is now even a good
time to really do refinances and cash out
considering rates have gone up so much over
the last few years?
I mean, the rates are the rates.
They're not going down for the next, I
(12:11):
don't think they'll ever go down from like,
I mean, they may go down like five
and a half percent, but we're never gonna
see COVID rates.
That's just not gonna happen.
If we saw COVID rates, we'd be in
total chaos for housing because there would be
no houses.
We already have a housing shortage and the
rates are seven and a half percent or
(12:32):
7%.
And it's already hard to get your offer
accepted.
Can you imagine if the rates went to
two and a half percent?
It'd be a frenzy.
So now is a great time because one
thing is a fact about real estate is
that it's finite.
And there's definitely no shortage of people trying
to buy a house right now.
(12:54):
So what do you see across the country?
Because you guys work in 48 states, supply
versus demand.
Like where are we at right now?
We're seeing like demand slow and pricing come
down in Texas because builders just overbuilt.
But we're consistently seeing year over year.
And if you follow me on Instagram, I
(13:15):
do release content daily on what's happening with
various economic trends.
But we are seeing housing continue to rise
pretty much everywhere nationwide.
For values, you're seeing the same thing with
values as well?
Yeah, yeah, values are rising.
And rates are pretty much stable.
They've stabilized for the last three, four years
(13:37):
at six and a half to seven and
a quarter.
Makes perfect, yeah.
So you're not gonna see rates in the
low twos or threes ever again.
It's not gonna happen.
We can't even afford it.
Sure, because if the rates went that low,
there's not enough inventory.
There's not even enough inventory now.
What are you seeing with foreclosures?
(13:57):
Do you see any kind of interesting trends
of foreclosures considering?
We are seeing an uptick in foreclosures as
well.
So foreclosures have gone up.
They haven't skyrocketed, but we are seeing them
rise just because affordability is tough for people.
Inflation's really hitting homes hard and just cost
of living is just through the roof.
(14:18):
Now, our people are like, well, I'm gonna
buy a foreclosed property.
Like that's not gonna happen.
And now a quick break to hear from
our sponsor.
Hey, it's Ty Crandall with Credit Suite.
Many of our subscribers wanna get the most
money to grow their business at the best
terms.
Whether you're looking for startup capital, low interest
credit lines and loans, or business credit, we
can definitely help you.
(14:38):
So give us a call at 877-600
-2487 or schedule your free consultation at creditsuite
.com forward slash consult to see how much
money you can get approved for today.
BlackRock's gonna get to it way before you
do.
Yeah, are they just snagging up all the
foreclosures they can get?
We're seeing a lot of movement by big
hedge funds acquiring properties.
(14:59):
So I'm hoping there's legislation to slow that
down.
Do you think, what do they do with
the properties?
I mean, do they rent them out?
Do they turn around and sell?
Yeah, they keep them in their portfolio and
rent them.
I mean, they're not big money makers, but
they're going up.
Right.
People like holding property in their portfolio.
Sure.
What about in California?
I'm interested just because you're out on that
(15:21):
coast.
In LA, have you heard anything or seen
anything about what's going on with all the
rebuilding in those areas that were devastated out
there?
No movement yet.
Nothing.
It's not even cleaned yet.
Do you think they'll move pretty quick on
getting all that resolved?
Or is that gonna be- No, that's
gonna be years out.
Yeah.
I'm hoping our lifetime.
(15:41):
Wow.
Yeah, I know that California's not the fastest
moving state that I've seen in the nation,
as you're pretty much aware.
So that doesn't surprise me necessarily at all.
What about refinancing an investment property into a
better term as a second home?
Things like that still possible?
So refining an investment property right now, investment
(16:02):
rates are, they're ugly.
So I don't know what the rate is
someone would have on an investment property, but
if they're happy with the rate in the
mid sevens, then yeah, we could look at
something.
What about investment properties?
I know we talked briefly about that, but
do you still see that there's a lot
of good properties out there for investors to
be able to grab if they're looking in
(16:23):
the right place?
Yeah, we're seeing like opportunities, many, many various
opportunities popping up just because people are desperate.
People are desperate to sell.
And we're seeing a lot of price drops
in certain areas as well.
So I think right now, and I always
say this, when there's blood in the streets,
there's opportunity.
So there's a lot of blood in the
streets right now with real estate.
(16:43):
So there's a lot of opportunity presented.
So keep your ear to the ground and
just see, when someone's interested in selling, because
as rates drop, more inventory will pop up.
So moving on to their two and a
half percent rates.
But once they get into the fives, it's
game on.
Yeah, I'm interested.
I know you're on the mortgage side.
(17:03):
What do you think about all these changes
in real estate, real estate commissions and everything
that came down over the last, I guess,
year or so?
Like, how are you seeing that really impact
the industry?
Because everybody in the real estate agent side
obviously has one story about how it adversely
affects the entire industry.
But you're not in that.
Like, you're in a mortgage side.
So you're neutral.
So I'm interested to see, like, what are
(17:24):
you seeing?
Like, how much of an impact did all
of these changes, how much of this is
really gonna have on the real estate industry
as a whole?
It's just making the industry more transparent.
In the mortgage space, we had the same
thing happen to us, where we had to
disclose our compensation.
And everyone thought it was gonna be Armageddon.
What did it do?
It just made us better originators.
(17:45):
It made us more transparent with our clients.
It allowed the clients to know how much
money is being made on the transaction.
Same thing's happening in real estate.
They're just treating it as a frenzy.
All a consumer knows now is how much
they're paying the realtor.
They're like, I don't wanna pay 25 grand.
Well, they kinda knew that they were paying
that anyways, because it was built into the
(18:06):
purchase price.
Now they're just paying it out of the
seller's side, I mean, the buyer's side.
So nothing really changed.
It hasn't hurt anybody.
It just made the industry more transparent.
And that's all we wanted, was transparency.
Before, everyone was hiding their commission.
Now, everybody knows their commission.
Is it gonna help rich buyers?
(18:27):
It could, maybe they could say, hey, I
don't wanna pay 25 grand, I wanna pay
20.
It gives them a little bit more negotiating
power.
But most good realtors aren't gonna work for
peanuts.
Do you think that buyers are having a
harder time now finding buyer's agents with all
the problems or all the changes?
No, I don't think so.
I think buyers now, a little bit more
savvy, so they're just reaching out to the
(18:49):
selling agent directly and just kinda pigeonholing the
situation so they get the best execution.
I'm seeing a lot of that, where buyers
just go straight to the selling agent.
Yeah, they don't go try to go get
an agent first.
I imagine that would be the case.
So this seems like this was really beneficial
to those that just focused on, that are
selling agents or doing both, but more hurtful
(19:10):
to those that were just wanted to be
buyer's agents and not involved with the listing
of properties.
Yeah, that's right.
So buyer's agents are a little bit hurt,
but they're the ones who are the, and
the buyer's agents who don't perform and don't
do a lot of business are the most
hurt, because they're just, they've always been trying
to do more.
They always did a little bit of business
anyways.
Yeah, what other, outside of that, what other
(19:30):
trends are you seeing developed that maybe we
don't hear as much out about on the
real estate or mortgage side?
On the mortgage front, it's just more products
are becoming available.
We're catering to a lot lower credit scores
now.
We're going to, we're offering products for very,
very low credit folks.
And one thing that we're seeing a lot
(19:50):
of emergence in is like other verticals, like
the cannabis business.
Like we're starting to land on cannabis companies.
So like very, like emerging markets are coming
up and we're offering, and we'll see a
lot more in the crypto space as well.
So we'll see, we'll be able to use
crypto as valid income soon.
Wow, that would be a game changer for,
(20:12):
you mean, especially for like down payment on
homes?
Yeah, right now we're able to offer the
crypto buyers just with no doc or DSCR
products.
Right.
Like influencers who don't have income as well
do the, use that strategy.
So if I'm getting a DSCR of 15
% down and I have crypto as my
down payment, can I use crypto as my
(20:34):
down payment?
I mean, not now as a title company,
but if I liquidated the crypto and that
was where I verified the, that it had
been there for two months, can I do
that?
You can.
Yeah.
So I can verify that it's been there
two months as my source of funds, but
I have to liquidate it.
It can be done at closing or by
title companies, what you're saying.
That's right.
Yeah, title companies are, and the credit cards
(20:55):
are the same way, right?
Like a title company can't use a credit
card as a down payment.
No, they cannot.
What other restrictions are there with how money
can be used as a down payment?
Cause I know we can't use crypto, we
can't use credit cards, any other things that
we really can't do to use down, those
down payments?
I mean, make sure you have your reserves,
make sure that you wire it straight into
(21:18):
escrow.
And then if there, if you don't have
the seasoning requirement, you could get a gift
from a family member.
So that could help someone who hasn't had
the seasoning or needs to close now and
doesn't want to wait on seasoning.
So it sounds like someone like you with
a ton of experience in your team, you're
very good at exceptions.
Here's the rule.
And then not finding a way around the
(21:40):
rule, but then finding ways to be able
to get exceptions to that rule.
Yeah, getting creative with the strategy.
That's what we do.
It's like, we really get creative with helping
our clients achieve home ownership.
How did you do this?
I mean, I talked to a lot of
mortgage guys, like what you've built and the
size of it.
I don't remember how many we talked about
(22:01):
here, but what 900 plus loan officers.
Like, how did you go from where you
started in this business to getting as big
as you guys are now?
So what our model is, is we are
basically kind of like a hedge fund for
mortgage companies.
So let me explain what that is.
Effectively, we're like kind of like a McDonald's.
Everyone just piggybacks on our ecosystem.
(22:23):
They leverage our licensing technology, HR, IT, the
legal, the compliance, the audits, the surety bonds,
a lot of the branding, the marketing, the
training, the coaching, all the onboarding resources.
And they spend nothing for it.
They have a variable cost.
And we then allow them to use our
(22:43):
ecosystem and scale their company.
And I realized early on when I started
the company that there was a need for
mortgage companies to have a backend ecosystem that
was stronger than theirs.
Because mortgage brokers are just small shops.
We're considered a mega broker because we're a
(23:04):
broker and a banker.
So we lend our own money and we
broker a lot of the loans.
So we have every product under the sun.
So there's just a need for mortgage companies
to piggyback on an ecosystem where they can't
afford a fraction of the resources we have.
So I realized there was a need for
it.
There was a need for more licensing, more
states, more support, more community, more collaboration.
(23:28):
And I tried to fill a need.
I realized this back in 2015.
There was something similar to this before the
crash of 08.
And I just brought it back.
And I brought it back with more resources
and more technology.
And now we're really closing the gap.
Like it doesn't make sense for any mortgage
company to own their own company when they
(23:50):
have a company like ours to piggyback on
that costs them $0, that helps them scale
infinitely, and it doesn't have any expenses associated.
Well, how can they truly have pay $0
and have no expenses?
How do you guys even make money?
They just use all of our resources.
We charge them a flat percentage of their
gross revenue.
(24:11):
So you're just charging them a flat percentage
and then everything else that they need to
basically be able to run a shop, you
basically are giving the entire infrastructure.
That's right.
So they need to like, if they wanna
market, they gotta pay for that.
They wanna brand, they gotta pay for that.
But yeah, they basically piggyback on us for
everything.
Right, and then are they ultimately setting up
the equivalent of like a franchise?
(24:33):
It's not technically a franchise, but effectively, yes.
So do they have- But they keep
their own brand.
So it'd be like Credit Suite Group powered
by EmoRich Capital.
Oh, so it's powered by, and then do
you only allow certain, like at a franchise,
you only have a certain amount in a
certain area?
So I'm in Tampa, can I be the
(24:54):
only e-mortgage guy here?
No, no, we have several in Tampa.
Okay, makes perfect sense.
Yeah, it's a really interesting model.
Like I think it's really cool that you
came up with that.
How long have you guys been around?
We started in 2011, we incorporated in 2015.
Wow, so you've been around a long time.
Long time.
(25:14):
When you deal with so many different types
of financial products, how do you train your
FOs, man?
Like that's a, your loan officers, I mean,
like that's a really hard thing to learn
so many different products.
That's a great question.
So we're in the business of making businesses.
It's really up to the originator to take
the initiative to educate themselves on various products.
(25:35):
Like we can't do, we hold their hand,
but there's only so much hand-holding we
can do.
Like we train, we coach, we have training
calls every day, we have coaching calls, we're
available for questions, we're available for meetings.
Like we're there for them whenever they need
us.
But at the end of the day, they
got to put in the work.
(25:55):
So we do a weekly call with various
investors that we're rolling out new investors every
week.
We do a daily training of some sort
or two.
So we're always in the weeds helping these
guys train.
Wow, Joe, love what you guys have built
there and done.
We just kind of scratched the surface with
a lot of questions I think that are
subjective that a lot of our audience would
(26:16):
have.
And you can help them almost every...
Actually, I'm actually curious, you're in 48 states.
What are the two states you're not in?
Vermont, Massachusetts.
Wow, those are two completely random that I
did not think.
I was going- And New York.
Well, Vermont, Massachusetts is about to be approved,
so.
Okay, I was going with Alaska and Hawaii
were my two guesses.
I was completely wrong on my guesses there.
(26:37):
So, all right.
Well, then anybody watching the 48 states and
these two that are about to be approved,
and they want to get more information, they
want to take a step to either be
able to learn more about construction, building, or
refinancing, residential, or you've got commercial guys there
too.
Where should they go?
What action should they take?
So they go to the website, Joe, or
email me.
Our website's emortgagecapital.com, Joe at eMortgage Capital,
(26:59):
or follow me on any social media platform.
Just my name, Joseph Chalabi, on Instagram, TikTok,
YouTube, Snapchat, LinkedIn, wherever you are on social
media, Facebook, whatever.
All right, perfect.
Thanks for coming on with us today.
Absolutely, thank you, Ty.
All right, so listen, if you're watching this,
I mean, this is one of the most
favorable mortgage companies that exist for entrepreneurs, right?
(27:21):
And that's why he came on here, because
a lot of you have come to me
and said, hey, I'm trying to buy a
property, I'm trying to refinance a property, and
they don't like you because you're self-employed,
right?
Well, now you've found the solution, and Joe
actually, I think, ripped out four or five
right off the cup solutions that could work
for you wherever you are.
So make sure that you go to emortgagecapital
.com.
If you go to emortgagecapital.com, there's a
(27:42):
lot of great stuff.
You're even able to find a loan officer
in your area, amongst many other things.
Find Joe on social as well.
He's got some phenomenal content that you'll find
out there, and I'll put a link to
be able to find him on the show
resources page as well.
But again, don't let being self-employed or
being a business owner hold you back from
being able to get your dream home or
(28:02):
to refinance or to build, because you can
do it.
It's just about finding a mortgage company that
works well with entrepreneurs, and that's exactly what
eMortgage Capital does.
So make sure you check them out at
emortgagecapital.com.
Thanks for tuning in.
Take care.
Have a great day.
(28:24):
You've been listening to the Business Credit and
Financing Show with your host, Ty Crandall.
Watch for our next episode to get even
more insight on financing and growing your business.
And don't forget to check us out online
at creditsuite.com for even more business growth
strategies.
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