To pay off debt, remodel your home or anything else, a home equity loan or Home Equity Line of Credit (HELOC) may be right for you.
Look to Spring EQ for Home Equity loans that can fund faster, have flexible terms from 5 to 30 years, and give you access to up to 97.5% of your home's equity in cash without affecting your first mortgage rate.
Our HELOC options even feature 10 Years of Interest-Only Payments!
*Details to note: To get cash in under two weeks or as few as 11 days the following must be true: time is measured from the time we receive all requested documents and assumes your stated income, property and title information provided in your loan application matches your documents and any supporting information collected. Spring EQ customers get their cash on average in 18 days. The time period calculation to get cash is based on the last 6 months of 2021 funding's, assumes the funds are wired, excludes weekends and excludes the government mandated disclosure waiting period. Typical applicants are required to provide a current and valid completed application, proof of income, mortgage statement, home hazard insurance, and a photo ID. Applicants are typically not required to provide proof of assets, and proof of income may be more extensive for self-employed borrowers. Any pre-qualification or “Home EQ” value is in no way a pre-approval, indication of eligibility, or binding underwriting decision. All borrowers will be required to meet Spring EQ's current underwriting guidelines including verifications of applicant’s credit profile, debt-to-income ratio, and home’s current value. Eligible borrowers must have a FICO score of 620 or greater and debt-to-income ratio of 45% or less. Refinance transactions may increase total finance charges over the life of the loan. Speak to a loan officer for details. Spring EQ offers options up to 97.5% of your home value for qualified borrowers with a credit score of 700 or greater excluding second home or investment properties. 5.74% rate featured is for a variable-rate Home Equity Line of Credit (HELOC). The APR may change and will be based on the value of an index plus a margin. The “Index Rate” will be the highest Prime Rate as published in the “Money Rates” table of The Wall Street Journal as of the first business day of the calendar month. The APR may increase if the Index Rate increases. An Index Rate increase will result in a higher finance charge, and it may have the effect of increasing your monthly minimum payment. A decrease in the Index Rate will have the opposite effect as an increase. During the term of the HELOC, the APR will not exceed 18% or the maximum allowed by applicable law, whichever is less. Example: For a $50,000 HELOC, rate and APR can vary from5.74% rate 5.968% APR) to 13.375% rate (13.757% APR). Actual rate and APR for qualified borrowers will be determined by a combination of factors, including their creditworthiness as determined by Experian Credit bureau, loan amount requested, home value, published Prime Rate, and more. For details, call 855-888-0563 to speak to a licensed Spring EQ Loan Officer. Subject to $995 origination fee and annual fee of $99 (except in certain states, where it may belower or not applicable).