COVID-19 Information for potential candidates: Currently, Spring EQ is observing a work-from-home policy for employees, with select training occurring on-site in our offices when necessary, and always in accordance with State and local COVID-19 guidelines. We will revisit the situation in Q1 2021, and revise our policies accordingly at that time.
"Spring EQ employes team members who make time on the job fun. There is a great mix of camaraderie and a strong work ethic."
"Working at Spring EQ is fresh and energizing every day."
"At Spring EQ, I have the luxury of working with smart people and the ability to quickly turn theory into action."
"I love that everyone is always happy to pitch in and help even if it is not technically their job."
"Working at Spring EQ is such a breath of fresh air! I have worked at many banks and mortgage companies over my career and the environment at Spring EQ ranks near the top."
"Working here can be a blast and if you keep an industrious attitude, you will be an integral part of a company at the forefront of its industry."
"I love our quirky humor. There's never a dull moment when you're laughing while getting work done."
"The culture is ripe with knowledgeable people who are good at what they do and work hard, but yet are still friendly and team oriented. Moreover, the company promotes a family first environment."
* Details to note:
Income documents may be more extensive for self-employed applicants. Loans above $175k will require an in-home appraisal. Loans above $250,000 require title insurance. Quarterly, we calculate The Spring EQ Cash-In-Pocket Index™ which is the average reduction of our customers debt payments where at least one debt was paid off with loan proceeds. The Q4 2019 Cash-In-Pocket Index™ reported a reduction in debt payments of $530.
To get cash in as little as 11 days 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 2019 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.
For example, an applicant with owner-occupied single family home in Pennsylvania, credit score of 740, and 60% combined loan-to-value (LTV) which includes the first mortgage, and a debt to income ratio of 43% with a term of 20 years and NO points, would result in 4.99% rate and an Annual Percentage Rate (APR) of 5.205% The actual APR is subject to change based on settlement date chosen by borrower and the subsequent interim interest due from settlement date and 1st schedule payment. Eligible borrowers must have a FICO score of 680 or greater and debt-to-income ratio of 50% 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 90% of your home value for qualified borrowers with a credit score of 740 or greater excluding investment properties.
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