Spring EQ Review
Spring EQ provides fast home equity loan funding. Rates are competitive and the process of qualifying is simple.

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What we like:
Get your funds in as few as 11 days
Rates (APR) | As low as 5.205% |
Loan Amounts | $20,000 – $500,000 |
Repayment Terms | 5 – 30 years |
Eligibility Requirements | Minimum credit score: 680 Maximum loan-to-value: 90% Maximum debt-to-income: 50% |
Spring EQ is a home equity lender that can provide quick approval with no hassle. You can borrow up to 100% of the value of your home, with a maximum loan of $500,000. Your loan can be used for any purpose, including a home improvement or consolidating high-interest debt.
This Spring EQ home equity loan review will help you decide if borrowing from this lender is right for you.
In this review:
- Getting a Home Equity Loan Through Spring EQ
- Basic Information: Rates, Terms, Fees & Limits
- The Benefits and Downsides of Spring EQ
- Spring EQ Customer Service
Getting a Home Equity Loan Through Spring EQ
Spring EQ provides home equity loans but does not offer home equity lines of credit. Borrowers with a credit score of 640 or higher can apply for a fixed-rate loan that can be repaid over a period of 25 to 30. Spring EQ’s streamlined loan process aims to make funds available as quickly as possible. In fact, you can get your money from Spring EQ in as little as 11 days from the time that you apply.
To get started, you’ll want to visit Spring EQ and click “See how much you can borrow.” You can then input your home address and get a custom quote in around 30 seconds. You’ll be asked a few simple questions, including:
- Your address
- The range of your credit score
- The current value of your home
- Your current mortgage loan balance
- The amount you’d like to borrow
- Whether you are self-employed
- Your income
- Your debt-to-income ratio
- Whether you have had a past foreclosure or bankruptcy in the past four years
- Your full name and telephone number
Once you provide this information, you will get a personalized estimate of your loan rate, lowest payment, and the maximum loan amount. The results will show the amount of money you can qualify to borrow and the new monthly payment you’ll have if you take out the loan.
After you’ve completed this, a loan officer will call you a few minutes later to talk you through the process and to verify and complete the information provided in your application.
Basic Information: Rates, Terms, Fees & Limits
Get a decision in minutes and your money in as few as 11 days
- Borrow up to 90% of your home’s value
- Loans from $20,000 to $500,000
- Repayment terms of 5 – 30 years
Here are some of the key things that you should know if you borrow through Spring EQ:
- APR: As low as 5.205%
- Loan amount: Borrow up to 100% of the value of your home with a maximum loan of $500,000.
- Maximum loan-to-value ratio: 100%
- Repayment period: Choose a repayment term as long as 30 years. Longer repayment terms allow you to keep monthly payments affordable even if you borrow a substantial sum of money.
The Benefits and Downsides of Spring EQ
There are some significant benefits and downsides to borrowing against the equity in your home through Spring EQ:
Benefits
- You can qualify quickly for a loan. Spring EQ makes the application process pretty easy. You simply need to provide some basic information, then talk with a loan specialist on the phone to complete the process.
- Fast funding. Spring EQ is one of the fastest home equity loans on the market. You can access your borrowed funds in as little as 11 days. Many home equity loan lenders take a much longer period of time to approve you for a loan, value your home, and provide funding.
- You can keep your first mortgage. You don’t need to refinance an existing loan at a low rate to tap into the equity in your home if you borrow with Spring EQ.
- You may get lower interest rates than you would on a personal loan. Since your loan is secured by the equity in your home, you should qualify for lower rates than you’d receive if you just took out a standard personal loan.
Downsides
- You can only get a home equity loan. Some homeowners would prefer a home equity line of credit because it provides more flexibility as you have access to a line of credit you can draw from whenever you need cash. If you prefer a line of credit, check out our guide to the best home equity lines of credit.
- Spring EQ Loans aren’t available everywhere in the United States. You can only get a loan with Spring EQ in one of the 33 states where it does business or if you refinance in Washington D.C.
- You have to talk with a loan officer on the phone. When you request your rate, a representative calls you to talk through the process and follow through with the remaining steps in the application process.
Spring EQ Customer Service
To get in touch with Spring EQ, you can call 888-978-9978. You also have the option to complete an online contact form on the Spring EQ website.
Is Spring EQ Right for You?
If you are in the market for a home equity loan, Spring EQ is definitely worth considering. The application process is quick, and you can get money fast. You can also borrow more than most lenders allow since you can borrow up to 100% of your home’s value. But make sure you comparison shop with other home equity lenders to find out which offers the best overall rate and terms to meet your needs.
Want to learn more about Spring EQ? Check out its website.
Rates (APR)
As low as 5.205%
Loan Amounts
$20,000 – $500,000
Repayment Terms
5 – 30 years
Author: Christy Rakoczy
