Spring EQ is a Philadelphia-based home equity lender. Home equity loans are available in more than 30 states and the District of Columbia, and Spring EQ has plans to expand into more.
- Loan limits ranging from $20,000 to $250,000
- Reduced fees for loans more than $80,000
- Loan funding in as little 14 days
- Not yet available in every state
Spring EQ specializes in home equity loans. Fixed-rate loans are available with terms from five to 30 years. Financing ranges from $20,000 to $250,000. Home equity loans can be used for a variety of purposes, including wedding and vacation planning, home improvements, higher education and vehicle financing.
Spring EQ does not disclose qualification requirements.
Spring EQ does not disclose application or closing fees, but fees are reduced for borrowers with loans larger than $80,000.
Spring EQ has an A+ rating with the Better Business Bureau and is a BBB-accredited business. In 2020, the Consumer Financial Protection Bureau received only two complaints about Spring EQ, but the company did not give a timely response.
Spring EQ allows borrowers to begin the home equity loan application process online. Borrowers will need to finalize the process with a Spring EQ loan specialist over the phone. Live chat is available to answer questions Monday through Friday, from 8 a.m. to 5 p.m. ET.
- People seeking home equity funding within a few weeks
- People seeking fixed-rate home equity loans
- People seeking home equity loans up to $250,000