couple watching interest rates drop on their tablet

Interest Rates Outlook

Posted by Spring EQ on Nov 11, 2024 12:40:57 PM

After a long period of elevated interest rates, many homeowners are watching the market closely for signs of relief. And guess what? Many financial experts agree that interest rates are about to take a turn for the better – the only questions are how quickly and by how much?

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

woman on laptop being approved for a low-rate HELOC

Fixed-Rate HELOC Secrets

Posted by Spring EQ on Nov 11, 2024 12:23:46 PM

A traditional HELOC offers flexibility with variable rates, but a fixed-rate HELOC provides unique advantages that many homeowners might not be aware of. Let’s explore both the well-known and lesser-known benefits of this versatile financial tool.

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

woman happy to pay off debt after getting a home equity loan

Paying off debt? Home equity loans beat personal loans

Posted by Spring EQ on Jan 16, 2023 9:39:25 AM

When most think of a home equity loan, their minds go straight to using it for a big remodeling project or installing a pool. But there are other ways this money can be put to use—one of them being debt consolidation.

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Topics: HELOC, HomeEquity, CashAccess, debt consolidation, pay off debt, personal loans

nice quiet suburban home with beautiful maple door and cedar shingles

Rates are on the move but you have options

Posted by Spring EQ on Sep 7, 2022 9:59:40 AM

With rates on the move again, CNBC reports that "mortgage applications were 83% lower" from the same time a year ago. What does this mean if you’re a homeowner with a low mortgage rate who still wants to access cash from your home’s equity? Here are your options…

 

 

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Topics: mortgage, HELOC, finance, Financial Tips, Personal Finance, debt, debt consolidation, pay off debt

beautiful suburban home on a sunny day with a bunch of tappable equity

Debt Consolidation Secret Weapon

Posted by Spring EQ on Jul 31, 2022 5:20:46 PM

With CNBC stating that nearly 60% of Americans are living paycheck to paycheck, it’s no surprise that credit card debt is on the rise.

 

This mounting debt against a backdrop of record inflation could create significant financial challenges for many homeowners. So what they can do?

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Topics: Cashout, HELOC, HomeEquity, CashAccess, Financial Tips, Personal Finance, debt, debt consolidation, pay off debt

couple happy at their budget thanks to their ability to access their home's equity

DIscover this Home Equity Secret

Posted by Spring EQ on Jun 21, 2022 5:14:35 PM

Homeowners can access cash from their home's equity WITHOUT touching their low first mortgage rate. It's not a secret—but more and more homeowners are just now discovering one of the best options available to them.

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Topics: mortgage, HELOC, CashAccess, home improvement, Personal Finance, debt consolidation, pay off debt

beautiful home with equity to access through a HELOC

HELOC vs. Personal Loan

Posted by Spring EQ on Jun 20, 2022 10:15:48 AM

With the latest headlines about rates, inflation and gas prices, many homeowners are looking to consolidate debt and pay off higher-rate loans and credit cards. That’s why it’s more important than ever for homeowners to clearly understand your options—so you can choose the solution that’s best for you.

 

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Topics: mortgage, HELOC, finance, home improvement, Financial Tips, Personal Finance, debt, debt consolidation, pay off debt, personal loans

woman getting ready to pay off high-interest credit cards and debt with a HELOC loan

Need to Pay Off High-Interest Debt?

Posted by Spring EQ on Jun 13, 2022 2:20:00 PM

You've seen the headlines. Rates continue to stay on the move. And more homeowners are turning to Home Equity Lines of Credit (HELOCs) as their go-to strategy to access the cash they need from their home's equity. Why?

 

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Topics: mortgage, HELOC, finance, Financial Tips, Personal Finance, debt, debt consolidation, pay off debt

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    *Details to note:
    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 660 and meet all other qualifying criteria in Spring EQ's current underwriting guidelines. Spring EQ offers Home Equity loan options up to 90% of your home value for qualified borrowers with a excluding 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.