SPADA
SPADA Mortgage & Commercial Brokerage is a California-based mortgage and commercial loan brokerage founded in 2018 that places residential and commercial loans through a network of dozens of lender partners, serving first-time homebuyers, veterans, minorities, women, and real estate investors.
- Company typePrivate
- Founded2018
- HeadquartersDowney, United States
- Headcount1–10
- GTM typeB2C
- OfferingServices
What SPADA does
SPADA Mortgage & Commercial Brokerage is a privately held California residential and commercial mortgage brokerage founded in 2018 by co-founders Sabbi and Shahla and headquartered at 12027 Paramount Blvd., Downey, California. The company operates as a licensed broker under California Department of Real Estate License 01941389 and NMLS identifiers 1716636, 1770833, and 1807050, placing loans through a network of dozens of lender partners rather than lending on its own balance sheet. Its core technology stack is a digital loan application workflow built on the Floify platform (spada.floify.com), supplemented by phone support (855-927-7232), email ([email protected]), and in-person consultations at the Downey office.
The product offering spans four verticals. The purchase suite includes Conventional (3-5% down), FHA (3.5% down), VA (0% down, no mortgage insurance), HomeReady and HomePossible low-down-payment programs, FHA 203K rehabilitation financing up to 110% of projected value, and HomeStyle renovation loans. The refinance suite covers Cash-Out Refinance, Rate and Term Refinance, and HELOC. The investment vertical provides income property, fixer-upper/flip, and commercial property loans. A specialized Veterans Mortgage Discount Program offers a free property appraisal up to $1,000 off closing costs for veterans and military family members across home, commercial, and small business loans. The company also facilitates CalHFA down payment and closing cost assistance programs for first-time homebuyers.
SPADA earns revenue through transaction fees, specifically origination fees and commissions paid by lender partners when loans close. The company is positioned as veteran-owned and woman-owned and explicitly targets first-time homebuyers, veterans and military families, minorities, women, real estate investors, and debt consolidation seekers across California, with a stated emphasis on the lowest fees and lowest closing costs in the state. Marketing is primarily content-driven via the spadaloans.com website, email newsletter, and Trustpilot reviews, with lead capture through online self-service pre-qualification. The company is small (1-10 employees), bootstrapped with no external funding rounds or acquisitions recorded, and has not filed for an IPO or undergone material restructuring.
SPADA firmographics
Firmographics- Name
- SPADA
- Legal name
- SPADA Mortgage & Commercial Brokerage
- Website
- https://spadaloans.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- SPADA Mortgage & Commercial Brokerage is a California-based mortgage and commercial loan brokerage founded in 2018 that places residential and commercial loans through a network of dozens of lender partners, serving first-time homebuyers, veterans, minorities, women, and real estate investors.
- Ownership category
- akta.pro rank
SPADA industry classification
Industry- Product category
- Mortgage Brokerage
- NAICS
- Mortgage and Nonmortgage Loan Brokers (522310), Offices of Real Estate Agents and Brokers (5312)
- SIC
- Loan Brokers (6163), Real Estate Agents & Managers (For Others) (6531)
- akta.pro primary industry
- Mortgage Point-of-Sale (POS) & Borrower Intake Portals (FSALALAD)
- akta.pro secondary industry
- Multifamily Brokerage (BPAJABAD)
Keywords
Where SPADA is headquartered
LocationHeadquarters
- HQ city
- Downey
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
SPADA business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Mortgage brokerage fees: SPADA acts as a mortgage broker placing loans with their network of dozens of lending partners. Revenue is earned through origination fees and commissions from lenders when loans close. The company emphasizes lowest fees and lowest closing costs in California as their competitive positioning.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Free appraisal for Veterans and military family members |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
SPADA product offering
Product offeringCore offering
SPADA is a veteran-owned and woman-owned mortgage and commercial brokerage that places residential and commercial loans on behalf of customers by leveraging a network of dozens of lending partners. The company shops rates across multiple lenders to deliver home purchase loans, refinancing options, renovation financing, and commercial property loans, with specialized programs for veterans and first-time homebuyers. Services are delivered through online applications, phone consultations, and in-person meetings at their Downey, California headquarters.
Product overview
SPADA Mortgage & Commercial Brokerage is a unified mortgage brokerage platform offering residential and commercial loan products. The core platform provides home purchase loans (Conventional, FHA, VA, HomeReady/HomePossible), renovation financing (FHA 203K, HomeStyle), refinancing options (Cash-Out, Rate and Term, HELOC), and investment property loans (Income Properties, Fixer-Uppers, Commercial Properties). The company also operates specialized programs including Veterans Mortgage Discount and Down Payment Assistance. All products are delivered through partnerships with dozens of lenders, with an emphasis on serving minorities, women, and military families.
Differentiator
Problem solved
Functional benefit
Products and services
- SPADA Mortgage & Commercial Brokerage A veteran-owned and woman-owned mortgage and commercial brokerage that places residential and commercial loans, emphasizing financially empowering minorities, women, and military families through home ownership and real estate education.
- Conventional Loans Home purchase loans requiring as little as 3-5% down with no upfront mortgage premium and mortgage insurance that subsides after owner equity reaches 20%.
- FHA Program Federal Housing Administration loan program enabling first-time buyers to purchase 1-4 unit properties with as little as 3.5% down.
- VA Loans Veterans Affairs loan offering 0% down payment and no mortgage insurance for eligible veterans and military servicemembers.
- HomeReady & HomePossible Low down payment programs requiring as little as 3% down with lower mortgage insurance premiums and flexible qualification requirements compared to conventional mortgages.
- FHA 203K Rehabilitation Loan Rehabilitation loan that funds up to 110% of projected value for purchasing and renovating outdated properties.
- HomeStyle Renovation Loan Cash-out renovation loan allowing homeowners to pull equity from their property for renovations without variable rates of traditional HELOCs.
- Cash-Out Refinance
- Rate and Term Refinance
- HELOC (Home Equity Line of Credit)
- Income Property Loans
- Fixer-Upper & Flip Loans
- Commercial Property Loans
- Veterans Mortgage Discount Program
- Down Payment Assistance Programs
Quantifiable outcome
- Free property appraisal up to $1000 off closing costs for Veterans
Companies that use SPADA
Customer profileSegments5 records
Ideal customer profiles5 records
SPADA technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
SPADA partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- CalHFA ProgramscoreCalifornia Housing Finance Agency programs providing down payment and closing cost assistance through grants and loans for first-time homebuyers using FHA or conventional mortgages. SPADA facilitates access to these programs for qualifying customers.
Recent moves6 records
Expansion highlights5 records
SPADA competitors and assessment
Company assessmentDirect peers
- Better.com: Pure-play digital mortgage lender with a fully online application flow that directly overlaps SPADA's Floify-based self-serve prequalification experience.
- Caliber Home Loans: Mid-large U.S. mortgage lender active across FHA, VA, conventional, and non-QM; competes with SPADA on purchase and refinance products, including investor and renovation programs.
- Movement Mortgage: Large retail and partner-channel mortgage lender offering a comparable purchase/refinance product mix to SPADA across multiple states.
- Rocket Mortgage: Largest U.S. direct-to-consumer digital mortgage lender; competes head-on with SPADA's tech-enabled, online-application-first borrower intake model and dwarfs SPADA on marketing and rate-buy-down firepower.
- NewRez: Mortgage originator and servicer offering a full purchase-and-refinance product set including FHA, VA, and renovation loans; comparable scale and product breadth to SPADA across retail and wholesale channels.
- loanDepot: Large California-based direct-to-consumer mortgage lender offering purchase and refinance loans through both retail and wholesale channels, competing with SPADA for the same borrower pool.
- Paramount Equity: California-based mortgage and home-equity lender; comparable regional focus, similar D2C marketing style, and overlapping specialty/refinance programs.
- AimLoan: Direct mortgage lender operating a digital application process with comparable loan-product breadth (FHA, VA, conventional, refi); competes with SPADA for self-serve California borrowers.
- Guild Mortgage: California-headquartered retail mortgage lender with a comparable mix of conventional, FHA, VA, and renovation products and a stated mission focus on underserved communities; one of the closest same-region peers to SPADA.
Emerging players
- United Wholesale Mortgage: Largest U.S. wholesale mortgage lender and a likely member of SPADA's lender partner network; relevant as both a competitor to brokers that go retail and the dominant wholesale partner whose pricing drives broker economics.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
SPADA social profiles
Digital presenceSPADA financial estimates
Financial estimateRevenue estimate
Valuation estimate
SPADA leadership team
Management profileNumber of profiles
Profiles2 records
SPADA funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SPADA M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SPADA
What does SPADA do?
SPADA is a veteran-owned and woman-owned mortgage and commercial brokerage that places residential and commercial loans on behalf of customers by leveraging a network of dozens of lending partners. The company shops rates across multiple lenders to deliver home purchase loans, refinancing options, renovation financing, and commercial property loans, with specialized programs for veterans and first-time homebuyers. Services are delivered through online applications, phone consultations, and in-person meetings at their Downey, California headquarters.
Is SPADA a public or private company?
SPADA is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was SPADA founded?
SPADA was founded in 2018. It employs 1 to 10 people.
Where is SPADA based?
SPADA is headquartered in Downey, United States, in the North America region.
How does SPADA make money?
One revenue line is on record: mortgage brokerage fees.
Who are SPADA's main competitors?
Direct peers on record are Better.com, Caliber Home Loans, Movement Mortgage, Rocket Mortgage, NewRez, loanDepot, Paramount Equity, AimLoan and Guild Mortgage. United Wholesale Mortgage is listed as an emerging player.
Does SPADA have an API?
No public API is recorded for SPADA.
What industry is SPADA in?
SPADA's product category is Mortgage Brokerage. Its primary akta.pro industry code is FSALALAD, Mortgage Point-of-Sale (POS) & Borrower Intake Portals, with a secondary code of BPAJABAD, Multifamily Brokerage. Its NAICS code is 522310 and its SIC code is 6163.