tl;dr - Chestnut is building the first AI mortgage lender. Our AI agents help people save 0.5%+ on their rate.

https://www.youtube.com/watch?v=M7ay1fshd-w

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👋 Howdy

I’m Spencer, the founder of Chestnut — the first AI mortgage lender. My last startup built a mortgage “Loan Origination System” (system of record + workflow tool used daily by 80% of lender employees) 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.

🤨 Isn’t the mortgage process already automated?

Far from it. Today, 80% of employees at traditional lenders spend hours each day filling out paper forms, manually reviewing documents, and copy-pasting data between systems. These manual processes cost lenders – and ultimately their borrowers – $12,000+ per loan ($61B+ per year).

😲 What’s next?

AI can automate 99% of mortgage operations, but traditional lenders would take 10+ years to adapt. They’d have to overhaul their entire tech stack, rewrite every procedure, and retrain their whole workforce.

➡️ Enter Chestnut

Chestnut is vertically integrating AI to challenge traditional lenders directly. Besides Ashley, our AI loan officer assistant, we’ve also built agents that:

1. Find the best deals by shopping rates across 100+ lenders (since we’re starting with brokering),
2. Cut borrowing costs by automating the origination process, and
3. Notify clients when rates drop.

So far, we’re licensed in Texas and Colorado where we’re helping clients with new home purchases, refinances, home equity loans, and home equity lines of credit.

🤑 Ready to save?

If you’re exploring mortgage options in Texas or Colorado, head over to our website where you can get an instant quote and compare our rates to other lenders!

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Cheers!