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Spring EQ Home Equity Loans Review

14 Customer Comments & Reviews - see all comments
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Spring EQ, LLC is a home equity loan company based in Philadelphia. Founded in 2016, the company's senior leadership collectively has over 100 years in mortgage industry experience.
 
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How is Spring EQ rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

Spring EQ focuses on home equity loans and home mortgages. This tight range of services has allowed it to develop expertise in those areas. The company can serve a wide range of customers because it considers a wide range of applicant credit profiles, from people with average to excellent credit scores. It also funds loans of up to 97.5% LTV. The company currently operates in 39 states and the District of Columbia, and has plans to expand to at least eight more states in the near future. Its growth, the size of its lending operations, and the lack of complaints against it with consumer or regulatory agencies make Spring EQ well worth consideration.

Spring EQ Features

Lender Type
Online Lender
Loan Types Available
Home Equity Loan
Home Equity Line of Credit
Minimum Home Equity Loan
$25,000
Maximum Home Equity Loan
$500,000
Home Equity Loan Max Term
20 years
Origination Fee
Closing Fee
Average $1200

Spring EQ Qualifications

Minimum Credit Score
680

Spring EQ Customer Experience

Total Consumer Financial Protection Bureau Complaints
0
Total CFPB Complaints/Originations
0.0
Number of Originations
7,272
Average Mortgage Size
$60,000
Nationwide Mortgage Licensing System ID
1464945
BBB Rating
A+
Date Collected
2020-11-08

Contact & Additional Information

Year Founded
2016

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14 Customer Comments & Reviews

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J
jak.too
3/6/2021
These guys a re a joke! They don't know what they're doing, never reach out to communicate, hardly ever respond to texts, calls, or emails, they don't seem knowledgeable in their field. I feel like I'm being taken for a ride. This is a fly by night kind of operation that will only let their customers down. My loan has been held up for 3 weeks with no progress because of a simple issue, but no one from Spring EQ wants to do anything to fix the issue.

tsaisrooting
2/20/2021
Well, I only wish that their service and post-closing service are as good as when they were going to earn our business! Watch out after you sign up .. is too late! I experienced everything that I didn't have in my previous refi experiences: agent went on vacation without telling, confusing numbers on the to-be-signed documents, no caring after unsuccessful closing, closing done after 3 tries, lender-hired closing company failed to receive wired closing money into bank account, and title company sent incorrect data/got rejected/taking over 3 weeks still not fixed. The rate is ok, but look at the experienced troubles, I do NOT feel that I had saved any.

J
Jason
7/30/2020
They are not responding to any of my emails or voicemails. I feel I’m getting duped right now

N
Nathan
3/6/2020
This is a small time operation. Slow to get back to you, rude and very unknowledgeable. This is a bait and switch type operation. Do yourself a favor and go elsewhere

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