SPADA

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.

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

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

• Mortgage brokerage
• Residential loans
• Commercial loans
• Refinance services
• VA loans

Headquarters

HQ city

Downey

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. 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

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core 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

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• CalHFA ProgramscoreChannel Partner/ Reseller/ DistributorCalifornia 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

Direct 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

• Facebookfacebook.com/spadapower

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SPADA