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Spring EQ Review

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Michael Graw
Michael Graw
Sep. 30, 20214 min read

Spring EQ summary

Spring EQ is a full-service online lender specializing in home equity. They offer HELOCs, home equity loans, mortgage refinancing, and mortgages. In just a few minutes you can get pre-qualified and find your rate for a home equity loan. Most loans are funded in about 3 weeks. There’s no need to visit a loan officer, the entire application process is online. Spring EQ loan officers are available by phone or email 7 days a week.


  • Get cash in as little as 11 days
  • Entirely online application process
  • Support available 7 days a week


  • Must get pre-qualified to see rates
  • Requires a minimum credit score of 640
Spring EQat a glance

Editorial score

Customer Service and Support

Good customer service


Variety of Loan Types

Purchase, refinance, home equity loans, and HELOCs


Variety of Products

Flexible repayment terms


Online Experience

Easy access to rates and learning materials


Geographical Availability

Licensed in 35 states


Visit SpringEQ


Spring EQ is a Philadelphia-based lender that offers home equity loans, home equity lines of credit (HELOC), mortgages, and refinancing. You can borrow up to $500,000 or 97.5% of your home’s value through a home equity loan. 

Spring EQ’s application process is fully online, and you can get pre-approved for a loan in minutes. Once you submit paperwork, the average loan takes just 21 days to fund, and Spring EQ says it can deliver cash to your account in as little as 11 days. 

Suitable For?

Spring EQ home equity loans are most suitable for homeowners who are comfortable with an online application process and want to get cash as quickly as possible. Spring EQ typically funds loans in 21 days from the time your paperwork is submitted, and the company can close a loan in as little as 11 days in some cases. While the application process is fully digital, Spring EQ loan officers are available 7 days a week by phone or email.

This lender is also suitable for homeowners with good credit. You must have a credit score of 640 or higher to qualify, and borrowers with a score of 740 or higher can borrow up to 97.5% of their home’s value. You’re not required to refinance your home’s current mortgage when taking out a home equity loan or HELOC.

Types of Loans/Products

Spring EQ offers home equity loans, HELOCs, mortgage refinancing, and mortgages. All borrowers must have a minimum credit score of 640, but the company doesn’t offer more information about rates, down payment, fees, or loan sizes until you get pre-qualified, which can be done in a few minutes.

For home equity loans, you can borrow $25,000 to $500,000, or up to 97.5% of your home’s value, if you have a credit score of 740 or higher.  Rates start as low as 4.99% APR for a 20-year home equity loan. You’ll need to complete the two-minute online pre-qualification form to get a customized rate quote and see your repayment options.

  • Minimum 640 credit score
  • Borrow up to $500,000 or 97.5% of your home’s value
  • Repayment terms up to 30 years
  • APR from 4.99%
  • Loans over $175,000 require drive-by or in-home appraisal
  • Loans over $250,000 require title insurance

The Application Process

Spring EQ’s application process is fully online. You can get a customized quote and be pre-approved for a home equity loan in minutes by entering basic information about yourself and your home. If you wish to proceed with the loan, you can upload all required documentation like proof of income and the title to your home online. Spring EQ typically closes loans in 21 days, and some loans can close in as few as 11 days.

Repayment Terms

Spring EQ offers flexible repayment terms with periods of up to 30 years. The company advertises rates as low as 4.99% APR for a 20-year home equity loan for a borrower with a 740 credit score. You’ll need to get pre-qualified to get customized repayment terms and interest rates for your situation.

Help & Support

You can get help with a new loan application by phone or with an existing loan by email. Spring EQ’s loan officers are available by phone and email from 8 am-9 pm Monday-Friday, 9 am-5 pm Saturday, and 10 am-4 pm Sunday.


Phone: (888) 978-9978


Spring EQ offers home equity loans, HELOCs, mortgages, and mortgage refinancing through a simple online application. You can get pre-qualified in minutes and receive cash in your bank account in about 3 weeks. You must have at least a 640 credit score to qualify, and you can borrow up to $500,000 or 97.5% of your home’s value if your credit score is over 740. Spring EQ offers phone support 7 days a week if you need to speak with a loan officer.

Visit SpringEQ


Do I need an appraisal for a home equity loan?

Spring EQ requires a drive-by or in-home appraisal for home equity loans over $175,000.

How much can I borrow with Spring EQ?

You can borrow up to $500,00 or 97.5% of your home’s value, whichever is less, if your credit score is 740 or higher. You must have title insurance for loans over $250,000.

Do I need to pay off my mortgage to get a home equity loan?

No. Spring EQ does not require you to own your home mortgage-free, and you do not need to refinance your existing mortgage to get a home equity loan.

What can I use a Spring EQ home equity loan for?

There are no restrictions on how you can use funds from a Spring EQ home equity loan.

Physical Address

Spring EQ, 2929 Arch St, Philadelphia, PA 19104

Visit Site


This review is based on the Spring EQ website and the Better Business Bureau.

Michael Graw
Written byMichael Graw

Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎

Spring EQ
Spring EQ

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