Community Highlights: Meet Alemayehu Teshome of Joyful Home Lending

Today we’d like to introduce you to Alemayehu Teshome.

Hi Alemayehu, please kick things off for us with an introduction to yourself and your story.
It all started as a kid for me. Growing up in Montbello was challenging, to say the least. Now there are many people who pass off the responsibility and accountability of their actions to others. There were times I have tried, but most of the time it was apparent who the guilty one was. To clarify, I proudly took accountability for my actions 100% of the time when I was giving account to my friends. But with my parents, and with authorities, never! Keep in mind, this is after being caught “red-handed”.

In time, I realized playing the blame game just wasn’t getting me anywhere. When I was 17, I was in a shootout, followed by a high-speed chase that ended with my truck flipped over. One of my accomplices, who I still find hard to call a friend, took it upon himself to tell every detail he saw. This resulted in two of the people he knew the legal names of being arrested and tried as adults. Interesting enough, neither of these two were the ones exchanging fire. However, both, took equal accountability as if they were. They were both served a total of seven years, as part of a “6-year”, YOS (Youthful Offender System) sentence. I was one of those two. During that period in my life, things began to change. I took the programs offered seriously and focused on my cognitive thinking. By the time I was five years in, YOS began offering college courses, where I was able to progress to the level of a university sophomore, maintaining a 4.0 GPA with Colorado State University – Pueblo.

Upon release, I fought hard to return to Denver because, to be honest, I still struggled with the desire to return to “thuggin”. My fight was unavailing and I was forced to parole to Fort Collins. I walked around the city, observing who I was surrounded by, and I don’t know if it was “survival mode”, or my competitive nature, but most likely a combination of both. I enrolled in CSU – Fort Collins and graduated in accounting. Before ending my junior year, I was offered a job at Ernst & Young, effective upon graduation. As a senior, I was elected as Executive Vice President of Beta Alpha Psi. I still laugh when thinking about the stereotypes of members of that fraternity and how I, being from such a different background, was unanimously elected without requesting to be. Comedy.

My career at EY ended during the financial crisis of 2009 when a portion of the Denver office was laid off. I used this opportunity to plan and founded Anbessa Holdings LLC. My father introduced me to the stock market during my teenage years when he used to have me pick ticker symbols from the Wall Street Journal and evaluate their progress after a week’s time. During the layoff, I thought, why not invest? I utilized Anbessa Holdings to manage a small hedge fund, which grew from $50k to $400k in assets managed by the end of year 1. However, the volatility of the market worried me a little. Although my father gave me an introduction, and I had seemed to do really well, I was still accustomed to having a steady paycheck. I returned to accounting while maintaining the hedge fund for supplemental income. Again, I began progressing up the ranks in accounting to Senior Manager level, until I was laid of again. This time it was COVID.

The frustration of my employment being at the mercy of others, and having my plans put on hold whenever someone else sees fit, prompted me to found Joyful Home Lending LLC, a subsidiary of Anbessa Holdings. In short, Joyful Home Lending is a mortgage brokerage, focused on delivering true and honest value. There are a lot of predatory lenders out there, hence why the Dodd Frank law was adopted. Despite my background, I’ve always had a genuine love for the less fortunate and a passion to help those considered the underdog. In the real estate/mortgage industry, that’s 100% of the non-professional population, no matter the race, background, or wealth they come from. I’ve had clients from all walks of life who have entered into terms of a mortgage, never fully understanding them. That’s where I deliver the greatest benefit to my borrowers.

Would you say it’s been a smooth road, and if not what are some of the biggest challenges you’ve faced along the way?
The lack of knowledge can always present itself as a challenge. So I commit myself to staying educated on laws, products, loopholes, etc. to ensure I’m able to deliver upon request. If I’m presented with a scenario I’m unfamiliar with, I study until I become familiar, then bounce ideas off my network.

Thanks for sharing that. So, maybe next you can tell us a bit more about your business?
Joyful Home Lending LLC, a subsidiary of Anbessa Holdings. In short, Joyful Home Lending is a mortgage brokerage, focused on delivering true and honest value. There are a lot of predatory lenders out there, hence why the Dodd Frank law was adopted. Despite my background, I’ve always had a genuine love for the less fortunate and a passion to help those considered the underdog. In the real estate/mortgage industry, that’s 100% of the non-professional population, no matter the race, background, or wealth they come from. I’ve had clients from all walks of life who have entered into terms of a mortgage, never fully understanding them. That’s where I deliver the greatest benefit to my borrowers.

To give insight, we offer residential and commercial loans, reverse mortgages, refinances, investment loans, jumbo loans, ARMs, interest only, renovation, construction, you name it. There is literally something for everyone.

What quality or characteristic do you feel is most important to your success?
Determination. When I’m determined to accomplish something, I commit to whatever it takes to get it done. This has always been who I am, and something I value greatly. Determination, coupled with God’s calling, is what pushed me to turn my life around, be ordained, and serve as a deacon in the Ethiopian Orthodox Church.

Pricing:

• Pricing is custom to each borrower, but we’ll honor 1/2 percentage point discount to anyone who found us through Voyage.

Contact Info:

• Email: alex@joyfulhomeloan.com
• Website: joyfulhomeloan.com
• Instagram: https://www.instagram.com/joyfulhomelending/
• Facebook: https://m.facebook.com/JHLoan/