How Convoy Home Loans is Changing the Luxury Real Estate Market

Dustin Rosenberg, CEO, and Jonathan Yoo, COO of Convoy Home Loans, take the rigidity out of luxury real estate purchases by utilizing their vast network of lenders in the Beverly Hills, Hollywood Hills and Bel Air areas.

What Makes Convoy Home Loans Better?

Traditional lending services are a dime a dozen. After shopping around, you will find that the only difference between them is a few basis points on the annual percentage rate (APR) of their loans. Additionally, traditional funding sources typically require large down payments, in the order of 40%-50% — and if you are self-employed, it can be next to impossible to secure a loan using this avenue.

When it comes to luxury real estate, potential property owners don’t typically work a normal 9-5; that’s not how they pulled ahead of the pack. However, Convoy Home Loans has relationships with investors and private institutions that are prepared to extend offers to successful high-net-worth entrepreneurs.

Dustin explained, “if you’re buying a $10 million home, and you go to Wells Fargo, you typically have to put three and a half or four million down. We can secure financing  for a $10 million home where the client only has to put 10% down, or $1 million. We have a lot of alternative financing options available over your traditional bank. For example, utilizing someone’s assets other than cash as a pledge is something we do often. It allows us to structure a loan based on our client’s overall financial health rather than judging someone by how much they make on their taxes. Something you cannot get done with a more traditional conventional loan.”

They work closely with entrepreneurial clients on their finances by digging through and finding their true bottom line. This gives them the ability to link business owners with investors that see the value of investing in them. The process also allows buyers to maximize their tax benefits while purchasing the properties they desire. “We are in the space of being able to creatively finance using more than your normal conventional income documents. We’re able to use things like cross-collateralization, bank statements, income, asset depletion, savings accounts, crypto, cash, and more. All these different sources are pieced together, and we creatively make a loan for them,” added Jonathan.

So Convoy Home Loans helps clients find alternative financing that allows them to purchase the homes and properties they want. Their methods and network give entrepreneurs the flexibility they need to not drastically change their income statements or tax reporting — they also give high-net-worth individuals the opportunity to purchase with lower down payments.

About Convoy Home Loans

Convoy Home Loans is disrupting loan origination by using their “convoy” of financiers open to lending to people outside the W-2 norm. They also help lower-income purchasers locate funding after being turned down by the bank. Their headquarters is located in El Segundo, CA, and they just opened up another branch in San Diego, CA. They offer loans all across the country, so if you are looking for a better way to finance your home, call the Convoy team at (800) 913-2169, or head on over to the Convoy Home Loans website to apply today!

Advertising disclosure: We may receive compensation for some of the links in our stories. Thank you for supporting LA Weekly and our advertisers.

LA Weekly