Chestnut
Spring 2025The first AI mortgage lender
About Company
Chestnut is the first AI mortgage lender. We automate 99% of human work with AI agents, saving customers 0.5%+ in interest. This is Spencer's second mortgage startup; the first processes 2% of US mortgages annually. So far, Chestnut is licensed in Texas and Colorado where we power purchases, refinances, cash-outs, and more.
Active Founders
Repeat founder building the first AI mortgage lender. My last startup built a system of record for mortgage lending that powered 2% of US mortgages annually. During that time, I saw firsthand how inefficient traditional lenders are – and realized I should compete with them directly. I started coding at age 12, founded my first company at 16, and was an early engineer at six other seed- and A-stage startups.