Spring EQ Home Equity Reviews: What to Know About Its Home Equity Loan and HELOC in 2025

Best for Accessing 90%+ of Equity

4.1 _/5

Our take: Spring EQ is a strong choice if you want fast access to your home’s equity and the ability to borrow up to 95% of your home’s value. It’s especially appealing for borrowers who need high LTV limits or want to tap equity from a second home or investment property. However, its higher starting rates, limited fee transparency, and state availability restrictions may be drawbacks if you prefer clearer pricing or more flexible qualification options.

Home Equity Loans

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• Access up to 95% of your home equity
• Most borrowers don’t require an in-home appraisal

• Funds available in 21 days, on average
• $1,395 origination fee
• Not available in all 50 states*
• No prequalification option

Rates (APR)	Starting at 9.50%
Loan amounts	$25,000 – $500,000
Repayment terms	5 – 30 years
Min. credit score	640
Max. LTV	Up to 95%

*Spring EQ is not available in Alaska, Hawaii, Idaho, Massachusetts, Missouri, North Dakota, New York, South Dakota, West Virginia, or Wyoming.

Home Equity Line of Credit (HELOC)

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• Access up to 95% of your home equity, one of the highest LTVs available
• Interest-only payments during the 10-year draw period
• No in-home appraisal required for most borrowers
• Fixed or variable rate options available

• Requires a $50,000 minimum initial draw
• Funds take an average of 21 days to become available
• $1,395 origination fee
• Not available in all 50 states*
• No prequalification option

Rates (APR)	Starting at 9.50% fixed or variable
Loan amounts	$50,000 – $500,000 ($50,000 min. initial draw; $1,000 min. on subsequent draws)
Repayment terms	10-year draw; 20-year repayment
Min. credit score	660
Max. LTV	Up to 95%

*Spring EQ is not available in Alaska, Hawaii, Idaho, Massachusetts, Missouri, North Dakota, New York, South Dakota, West Virginia, or Wyoming.

Table of Contents

1. Spring EQ home equity loan
   1. Rates and terms
   2. How it works
   3. Costs and fees
   4. Eligibility
   5. Pros and cons
2. Spring EQ HELOC
   1. Rates and terms
   2. How it works
   3. Costs and fees
   4. Eligibility
   5. Pros and cons
3. Spring EQ alternatives
   1. Home equity loan alternatives
      1. Spring EQ vs. LendingTree
      2. Spring EQ vs. Navy Federal
   2. HELOC alternatives
      1. Spring EQ vs. Aven
      2. Spring EQ vs. FourLeaf FCU
      3. Spring EQ vs. LendingTree
4. How to apply for a Spring EQ home equity loan or HELOC
   1. 👀 What to watch for
5. Is Spring EQ legit?
6. How to contact Spring EQ
7. FAQ

Spring EQ offers home equity loans and HELOCs with high LTV limits, flexible repayment terms, and relatively fast funding timelines. Borrowers can choose between a fixed-rate lump sum or a revolving line of credit, depending on whether they need one-time funding or ongoing access to cash.

Both products allow homeowners to convert equity into funds for renovations, debt consolidation, or large expenses, but they differ in how you access the money and how you repay it. This guide walks through Spring EQ’s offerings, who they’re best suited for, and what to consider before applying.

Spring EQ home equity loan

<strong>Best for Accessing 90%+ of Equity</strong>

4.1 _/5

View Rates

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Rates and terms

Rates (APR)	Starting at 9.50% fixed
Loan amounts	$25,000 – $500,000
Repayment period	5 – 30 years

How it works

A Spring EQ home equity loan gives you a fixed-rate lump sum with predictable monthly payments. You can borrow $25,000 to $500,000 with repayment terms from 5 to 30 years, making it a good fit if you want one-time funding and long-term stability.

Loans are available on primary residences, second homes, and investment properties. Spring EQ also offers a high maximum LTV of up to 95%, though its starting APR of 9.50% is higher than some competing lenders.

Spring EQ may require an appraisal to verify your home’s value. You might be eligible to reuse a recent appraisal (within 12 months), or the lender may order a new drive-by or full interior inspection depending on your property and loan size.

Costs and fees

Spring EQ charges standard administrative fees, including:

• Appraisal fee: $115 to reuse an eligible appraisal or $149+ for a new appraisal
• Other fees: credit check and document preparation fees

Because Spring EQ doesn’t publish a complete fee list, it’s important to request an itemized breakdown during the application process.

Eligibility

Max. LTV	Up to 95%
Min. credit score	640
Max. DTI	45%
Eligible properties	Primary, secondary, and investment properties
Availability	Not offered in AK, HI, ID, MA, MO, ND, NY, SD, WV, WY

Spring EQ’s eligibility guidelines are fairly standard, but the combination of a high 95% LTV cap and investment-property approval makes it stand out. Still, the minimum 640 credit score and 45% DTI limit may make approval harder for borrowers with credit challenges or tighter finances.

Pros and cons

• High LTV limits (up to 95%)
• Fast funding (often 11–21 days)
• Available for primary, secondary, and investment properties

• Higher starting APR than some competitors
• Not available in 10 states
• Limited fee transparency
• No prequalification option

Spring EQ HELOC

4.1 _/5

View Rates

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HELOC rates and terms

Rates (APR)	Starting at 9.50%, fixed or variable options available
Loan amounts	$50,000 – $500,000
Draw period	10 years
Repayment period	20 years

How it works

A Spring EQ HELOC gives you ongoing access to your home’s equity during a 10-year draw period, similar to a credit card. You can borrow $50,000 to $500,000 and choose either fixed or variable rates, depending on whether you want predictable monthly payments or the flexibility of a rate that can change over time.

During the draw period, you’ll make interest-only payments, which can help keep initial costs lower, though the $50,000 minimum initial draw can be limiting for smaller borrowing needs.

After the draw period ends, you’ll have 20 years to repay the remaining balance with full principal-and-interest payments. Spring EQ’s HELOC also comes with a rigid payment structure: monthly payments start at a minimum of $100, and due dates are fixed on the 1st of each month.

Spring EQ may require an appraisal depending on your property and how recently it was valuated. You may be able to reuse an appraisal completed within the past 12 months, or the lender may order a new drive-by or full interior inspection.

Costs and fees

Spring EQ’s HELOC includes several standard fees, including:

• Appraisal fee: $115 to reuse an eligible appraisal; $149+ for a new appraisal
• Administrative fees: credit check and document preparation fees
• Annual fee: required for HELOC borrowers

Because Spring EQ doesn’t publish a full fee list online, it’s important to request a detailed cost estimate before applying.

Eligibility

Max. LTV	Up to 95%
Min. credit score	660
Max. DTI	45%
Eligible properties	Primary and secondary homes (not available for investment properties)
Availability	Not offered in AK, HI, ID, MA, MO, ND, NY, SD, WV, WY

Spring EQ’s HELOC is attractive for borrowers who want high LTV access and long draw periods, but the high minimum draw, payment rigidity, and qualification requirements may make it less flexible than options from Aven, Figure, or top credit unions.

Pros and cons

• High LTV limits (up to 95%)
• Long 10-year draw period
• Interest-only payments during the draw

• $50,000 minimum initial draw
• $100 minimum monthly payment and fixed due date
• Limited fee transparency
• Not available in 10 states
• No prequalification option

Spring EQ alternatives

Spring EQ offers strong high-LTV options, but it won’t be the best fit for every borrower. Below are alternatives for both its home equity loan and HELOC products, along with quick comparisons to help you decide which is better for your needs.

Home equity loan alternatives

Spring EQ vs. LendingTree

If you want to easily compare lenders and shop for the best deal, LendingTree is a more flexible place to start. Spring EQ is the better fit when you need to borrow a high percentage of your home’s value—especially if you’re working with a second home or investment property.

Spring EQ vs. Navy Federal

Navy Federal is great if you’re eligible for membership and want the chance to borrow up to 100% of your home’s value. Spring EQ may feel more accessible for non-military borrowers and anyone looking to tap equity from an investment property.

HELOC alternatives

Spring EQ vs. Aven

Aven is appealing if you prefer low upfront costs, clear fees, or smaller borrowing needs. Spring EQ works better when you want a larger line of credit or higher LTV access, though its minimum draw is much higher.

Spring EQ vs. FourLeaf FCU

FourLeaf is a great pick if you want a low intro rate and no closing costs. Spring EQ might be the better fit when you’re trying to borrow more of your home’s equity or need a higher credit limit than FourLeaf typically allows.

Spring EQ vs. LendingTree

LendingTree gives you a wide range of HELOC options in one place, which makes rate shopping simple. Spring EQ stands out if you care more about fast approval and high LTV limits—but if fee transparency matters to you, a marketplace may feel easier to navigate.

How to apply for a Spring EQ home equity loan or HELOC

Spring EQ’s application process is 100% online, but the lack of soft preapproval is a disadvantage compared to other lenders that allow rate checks without affecting your credit score.

Spring EQ makes it easy to apply for a home equity loan or HELOC online. The application process is streamlined but requires detailed information about your home and finances. Here are the steps to apply:

1. Start your application online. Provide basic information such as your name, contact details, and whether the property is your primary address.
2. Share details about your property. Input your home’s estimated value, your remaining mortgage balance, and whether you have additional liens—for example, a second mortgage.
3. State how much you need to borrow. Use your home equity estimate to decide the loan amount you’d like to request.
4. Answer financial questions. Spring EQ asks about your credit score, any past bankruptcies or foreclosures, and how you use the property. You’ll also confirm whether you have a co-borrower or are a veteran.
5. Get prequalified. Based on the information you provide, Spring EQ will estimate how much equity you can borrow. Note: This is not a final offer, and the lender hasn’t checked your credit yet.
6. Decide to move forward or wait. Choose to complete the online application immediately or wait for a loan specialist to contact you.
7. Submit your full application. If you proceed, Spring EQ will perform a credit check and provide specific interest rates, loan amounts, and repayment options.
8. Submit documentation. Finalize your loan by providing proof of income, mortgage statements, home insurance, and other required documents.

👀 What to watch for

• Prequalification is limited. While Spring EQ offers an initial estimate, you won’t see your rates until a full credit check is performed.
• Document submission is essential. Missing paperwork can delay the process, so gather your documents early.

Is Spring EQ legit?

Yes, Spring EQ is a legitimate lender that has been offering home equity loans and HELOCs since 2016. While it no longer appears on Trustpilot, you can still find current reviews on the BBB and Google, which give a clear picture of borrower experiences.

Source	Customer rating	Number of reviews
BBB	2.21/5	43
Google	4.0/5	972

Many borrowers praise Spring EQ’s fast processing times and responsive loan specialists, saying the application process feels smooth when everything goes as expected. However, some customers report communication gaps, slower funding than anticipated, or unexpected document requests. These mixed experiences make it important to clarify timelines and ask detailed questions upfront.

Overall, Spring EQ is a strong option if you value high LTV limits and quick access to funds, but transparency-conscious borrowers may prefer lenders with clearer fee disclosures and more consistent communication.

How to contact Spring EQ

If you have questions for Spring EQ, you can contact the customer service department:

• By phone at 888-978-9978
• By email (current customers only) at [email protected]
• Spring EQ does not offer live chat options.

FAQ

Can Spring EQ loans be used for investment properties?

Yes, Spring EQ’s home equity loans can be used for investment properties, unlike its HELOCs, which are limited to primary and secondary residences. This flexibility makes Spring EQ appealing to property investors who want to leverage equity for renovations, additional investments, or other financial goals. Keep in mind that maximum LTVs may vary for investment properties.

What happens if I can’t make payments on a Spring EQ loan?

If you’re unable to make payments, Spring EQ may report your delinquency to credit bureaus, damaging your credit score.

Continued missed payments could result in foreclosure since home equity loans and HELOCs are secured by your property. If you anticipate financial challenges, contact Spring EQ’s customer service team immediately to explore potential solutions, such as temporary forbearance or payment plans.

How we rated Spring EQ

We designed LendEDU’s editorial rating system to help readers find companies that offer the best home equity products. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared Spring EQ to several home equity lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating, recapped below.