Spero Financial at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the C grade breaks down
Each component is a percentile rank among 1,883 small mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
36th13.2% deniedProcesswithdrawn + incomplete share, weight 15%
91st1.6%Trend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 636 | 529 | 10.4% | 10.7% | — | $79M |
| 2024 | 530 | 444 | 11.5% | 11.8% | — | $51M |
| 2025 | 502 | 403 | 13.0% | 13.2% | — | $61M |
What Spero Financial lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 0 home-equity lines, 0 reverse mortgages, 1 manufactured homes, 8 investment properties.
Why Spero Financial denies applications
Primary reason reported for each of the 65 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Spero Financial
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 47 | 32 | 20.0% |
| $50k – $100k | 168 | 129 | 15.7% |
| $100k – $150k | 112 | 88 | 13.5% |
| $150k – $250k | 101 | 86 | 10.2% |
| Over $250k | 64 | 59 | 6.3% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 47 | 32 | 23.9% |
| 35–44 | 102 | 93 | 7.0% |
| 45–54 | 143 | 115 | 15.4% |
| 55–64 | 121 | 92 | 14.5% |
| 65–74 | 57 | 46 | 8.9% |
| Over 74 | 31 | 25 | 6.5% |
Where Spero Financial lends
4 states and 32 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| South Carolina | 490 | 393 | 13.1% | — | #99 |
| North Carolina | 6 | 4 | 16.7% | — | #708 |
| Georgia | 5 | 5 | 0.0% | — | #747 |
Frequently asked questions
Spero Financial denied 13.2% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 36th percentile of small mortgage lenders.
The most common reason Spero Financial gave in 2025 was "debt-to-income ratio", cited on 29.2% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
In 2025, 5% of its applications were for home purchases, 27% for refinancing (including cash-out), and 68% for home improvement or other purposes. By loan type: 100% conventional, 0% FHA, 0% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.