Spring EQ provides fast home equity loan funding and lets you borrow up to 100% of the value of your home. Rates are competitive and the process of qualifying is simple, but you will need a credit score of 640 or higher to get a loan.
The post Spring EQ Review: Access 100% of Your Home Equity appeared first on LendEDU.
Spring EQ is a home equity lender that promises to provide quick approval with no hassle. You can borrow up to 100% of the value of your home, with a maximum loan of $500,000, and can use your home equity for any purpose including home improvement or consolidating and refinancing high-interest debt.
This Spring EQ home equity loan review will help you decide if borrowing from this lender is right for you.
In this review:
Spring EQ provides only home equity loans, not primary mortgages or home equity lines of credit. Borrowers with a credit score of 640 or higher can apply for a fixed-rate loan that can be repaid over as long as 25 to 30 years and Spring EQ’s streamlined loan process aims to make funds available as quickly as possible. In fact, you can get your money from Spring EQ in as little as two weeks from the time that you apply.
To get started, you’ll want to visit Spring EQ and click “See how much you can borrow.” You can then input your home address and get a custom quote in around 30 seconds. You’ll be asked a few simple questions, including:
Once you provide this information, you will get a personalized estimate of your best loan rate, lowest payment, and maximum loan amount—all within around 10 to 15 seconds. The results will show the amount of money you can qualify to borrow and the new monthly payment you’ll have if you take out the loan. After you’ve completed this process, a loan officer will call you a few minutes later to talk you through the simple refinancing process and to verify and complete the information provided in your application.
Here are some of the key things that you should know if you borrow through Spring EQ:
There are some significant benefits to borrowing against the equity in your home through Spring EQ:
There are also some downsides of Spring EQ to watch out for, including the following:
To get in touch with Spring EQ, you can call 888-978-9978. You also have the option to complete an online contact form on the Spring EQ website.
If you are in the market for a home equity loan, Spring EQ is definitely worth considering. It’s introductory APR is competitive, the application process is quick, and you can get money fast. You can also borrow more than most lenders allow since you can borrow up to 100% of your home’s value. But make sure you comparison shop with other home equity lenders to find out which offers the best overall rate and terms to meet your needs.
The post Spring EQ Review: Access 100% of Your Home Equity appeared first on LendEDU.