Fund Your Home Projects with Your Equity

Posted by Spring EQ on Apr 2, 2025 9:20:20 AM

After a long winter season, we’ve officially flipped the script and entered spring. The days are getting longer, and the weather is heating up, making now a great time to start home improvement projects. If you’ve been thinking about remodeling your kitchen, updating your outdoor space, or tackling some much-needed repairs, using your home equity can be a smart way to fund your home improvement projects.

 

Why Now?

 

Better Weather for Renovations

With the temperatures heating up, it’s easier to complete both indoor and outdoor projects. Contractors often have more availability before the summer rush too, allowing them to take advantage of longer daylight hours to get more done before they enter their busy season.

 

Boost Home Value Before Peak Selling Season

If you’re planning on selling your home in the near future, spring and summer are the busiest times in real estate, making now the time to complete upgrades that can increase your home’s value. Upgrading your kitchen, bathroom, or landscaping can help your home stand out in a competitive market.

 

Tackle Repairs After Winter Wear and Tear

A harsh winter can be tough on your home. Spring is the perfect time to inspect and repair any winter-related damage (think leaky roof or water damage in basement) before it turns into a bigger and more expensive problem.

 

 

Use Your Home Equity to Fund Your Spring Projects

Your home’s equity is a powerful financial tool that allows you to borrow at lower interest rates compared to credit cards or personal loans. With Spring EQ’s HELOC or HELOAN options, you can access the funds you need. Which option is right for you? Let’s compare.

 

HELOC: Take advantage of a revolving line of credit that offers flexibility, allowing you to borrow as needed and only pay interest on what you use. This is a great option for ongoing projects.

 

HELOAN: Get a one-time lump sum with a fixed rate and predictable payments, perfect for larger, planned renovations.

 

 

 

Start Your Spring Projects with Spring EQ

Don’t wait until summer. Tap into your home equity now and make your home improvement dreams a reality! Spring EQ makes the process simple with competitive rates, flexible options, and a quick application process.

 

 

Please Note: Spring EQ does not provide tax, legal, investment or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, investment or accounting advice. You should consult your own tax, legal, investment and accounting advisors before engaging in any transaction.

 

Topics: refinance, HELOC, debt consolidation, Fixed-Rate HELOC

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    *Details to note:

    This site is not authorized by the New York State Department of Financial Services.  No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.

    Spring EQ customers get their cash on average in 21 business days, and as fast as 14 days. This average 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. The time period calculation to get cash is based on the average funding turn times over the first four months of 2023, 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.

    Please Note: Spring EQ does not provide tax, legal, investment or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, investment or accounting advice. You should consult your own tax, legal, investment and accounting advisors before engaging in any transaction.

    Applicants are typically not required to provide proof of assets, and proof of income may be more extensive for self-employed borrowers. 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 most recent Cash-In-Pocket Index™ reported a reduction in debt payments of $530.

    Any pre-qualification 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 verification of applicant’s credit profile, debt-to-income ratio, and home’s current value. Eligible Home Equity Loan borrowers must have a FICO score of 640 and meet all other qualifying criteria in Spring EQ's current underwriting guidelines. Refinance transactions may increase total finance charges over the life of the loan. Speak to a loan officer for details. Eligible Home Equity Line of Credit borrowers must have a minimum FICO score of 640 and meet all other qualifying criteria in Spring EQ's current underwriting guidelines. Spring EQ offers Home Equity loan options up to 90% of primary residence value for qualified borrowers (and up to 80% for second home or investment properties).

    The maximum Home Equity loan or Home Equity Line of Credit amount Spring EQ offers is $500,000.

    For details, call 888-978-9978 to speak to a licensed Spring EQ Loan Officer. Please Note: Any reference to news organizations or outlets and/or their logos or likenesses on these webpages are solely in reference to the inclusion of relevant home equity, mortgage or interest rate subject matter in current, publicly available national news items and cycles and are not meant to imply endorsement of Spring EQ in any way.