Spring EQ 2022 Mortgage Review

Founded in 2016, Spring EQ is a Philadelphia-based mortgage lender that specializes in 39 states and operates in Washington, DC. -Refinancing loans and term refinancing and refinancing with redemption. The Spring EQ digital process can improve lending and help people get their money back in just 11 days.

  • Qualified borrowers may have access to up to $ 500,000 in residential stock.
  • Check if you qualify “in seconds” and get your money back quickly. Borrowers can receive funds in just 11 days and on average in 18 days.
  • Apply online or by phone and get help from a loan officer over the phone.

  • Spring EQ offers mortgages but no equity credit limits.
  • Loans over $ 175,000 require home appraisal and loans over $ 250,000 require title insurance.
  • Spring EQ is not yet able to lend to every state.

Spring EQ specializes in equity loans and offers home loans, interest rate and duration refinancing and redemption refinancing loans. The lender can allow you to access up to 97.5% of the value of your home, while most others remain at 85%, and your loan amount can reach $ 500,000.

This lender promotes its largest terms for affordable payments, but does not disclose a number of terms. Spring EQ also has several uses for home equity loans, including home improvement, debt consolidation, and college tuition.

Apply for a spring equity loan for Spring EQ either online or by phone at 888-978-9978. Applicants can also get support from loan officers at this phone number.

Start by completing the Spring EQ pre-selection form to check that you meet the lender’s standard criteria for a home equity loan. If you are satisfied with your possible terms, then you can continue your application.

Typically, you will need copies of your mortgage statement, photo ID and credit report, as well as proof of income, assets and home equity insurance. You should follow the Spring EQ sponsorship guidelines, including verifying your credit, debt-to-income ratio, and home value.

Borrowers may be able to get their money back in just 11 days, but the average is 18, according to the lender.

The Spring EQ does not reveal a minimum interest rate. The lender, however, provides an estimate based on this scenario:

Loans over $ 175,000 require internal evaluation and loans over $ 250,000 require title insurance. The lender does not disclose any other charges or terms.

Borrowers must have a FICO score of at least 680 and a debt-to-income ratio of 50% or less.

The Spring EQ operates in 39 states and Washington, DC and plans to expand.

Is your dream home possible? The US News mortgage calculator will show you how much home you can afford.

Spring EQ has an A + rating with the Better Business Bureau and is a BBB accredited company.

The Office of Consumer Financial Protection received four complaints in 2021 concerning Spring EQ’s own credit lines. The complaints concerned an application for or refinancing a mortgage, problems during the payment process and closing a mortgage. The company responded promptly to all complaints and two closed with monetary relief.

The Spring EQ has an overall rating of 4 out of 5 stars on US News.

Customers with questions or queries should call 888-978-9978 or email [email protected] If you need help with your loan application, call 888-978-9978.

Call 855-463-7407 to set up a payment by phone or automatic payments. You can also access an online form set up automatic payment. Spring EQ does not offer online payments.

The loan can be repaid by email at [email protected] or by phone at 855-463-7407. If you need to ask for tolerance for COVID-19, email [email protected] and provide:

  • Full name.
  • Address.
  • Phone number
  • Loan number.
  • Reason for request for tolerance.

The lender will review your situation and, within two business days, advise you on the next steps.

You can apply online to check if you meet the lending criteria and how big your loan can be. If you are ready to apply, you can complete the application online and access telephone support.

Borrowers can email Spring EQ for assistance at [email protected] and access an online form to set up automatic payment. Loans cannot be repaid online at this time.

  • People looking for equity financing within a few weeks.
  • People looking for an online application process with telephone support.
  • People looking for big mortgages up to $ 500,000.

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