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professional painting home under blue skies paid for by home equity loan

Home Exterior Projects for 2023

Posted by Spring EQ on Dec 8, 2022 9:58:59 AM

You’ve done some work to your home in the past couple of years—maybe updated the kitchen, added an extension or perhaps finished the basement. Is next year going to be the time you tackle the exterior? Here are a few trends homeowners are discovering—and loving!

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Topics: mortgage, HELOC, HomeEquity, FixedRate, CashAccess, home improvement, home trends, home upgrade

beautiful cottage style home with perfectly mancured lawn and yard

Is a Bridge Loan right for you?

Posted by Spring EQ on May 6, 2022 9:37:45 AM

With rates on the move and home values setting records in neighborhoods across America, you know it’s a crazy market out there. So if you’re home shopping and you find the house of your dreams BUT you haven’t sold your home yet—what are your options? Here’s a way to use your existing home’s available equity if you’re short on down payment funds for your new home...

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Topics: mortgage, HomeEquity, FixedRate, finance, Financial Tips, bridge loans, home purchase

father and son playing with legos in their living room with fireplace in background

There's No Place Like Home Equity

Posted by Spring EQ on Feb 7, 2022 1:42:13 PM

For home improvement, debt consolidation, education costs or anything else—home equity loans are a great choice for many homeowners looking to access cash from their home.

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Topics: mortgage, HomeEquity, FixedRate, CashAccess, HomeImprovement

*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.