Read our review of

Spring EQ: 2026 Home Equity Review

Written by

Linda Bell,

Edited by

Andrea Coombes, CFP®

Expert verified

Updated on Jul 07, 2026

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NMLS: 1464945

Bankrate score

4.2

Our methodology

Customer score

3.6

Read reviews

SCORE BREAKDOWN

Affordability

4.0

Availability

4.6

Borrower experience

4.0

EDITOR'S TAKE

Spring EQ can be a strong choice due to its fast funding times, product variety, competitive rates and the large amount of equity it’ll let you withdraw (provided you have the qualifying financials). Its high minimum draws and various fees suggest this online lender targets a big-spending borrower who doesn’t mind largely digital dealings.

PROS

• Gives instantaneous estimates online
• Offers a good variety of products for primary and secondary homes, and investment properties
• You can borrow up to 90 percent of your home’s equity

CONS

• Charges an administrative fee, appraisal fee and an annual maintenance fee for HELOCs. Also, you’ll be responsible for other third-party fees like a credit check or title report.
• High initial minimum draws for its HELOCs; additional draws then prohibited for 90 days afterwards.

Affordability

4.0

Availability

4.6

Borrower experience

4.0

• Gives instantaneous estimates online
• Offers a good variety of products for primary and secondary homes, and investment properties
• You can borrow up to 90 percent of your home’s equity

• Charges an administrative fee, appraisal fee and an annual maintenance fee for HELOCs. Also, you’ll be responsible for other third-party fees like a credit check or title report.
• High initial minimum draws for its HELOCs; additional draws then prohibited for 90 days afterwards.

Find competitive home equity rates near you

Spring EQ overview

Founded in 2016, Spring EQ is a privately held company located north of Philadelphia, Penn. It is one of the fastest-growing non-bank lenders in the nation, and a leading online lender. While it offers a variety of home financing products, it specializes in second-liens: home equity loans and home equity lines of credit (HELOCs).

Home equity products offered

Spring EQ offers fixed-rate home equity loans and home equity lines of credit (HELOCs), ranging in size from $25,000 to $500,000. The fixed-rate loans have terms of five, 10, 15, 20, 25 and 30 years. The fixed-rate HELOC has terms of 15, 20 and 30 years, with a three-year draw period.

Its variable rate HELOCs range from $50,000 to $500,000. The repayment terms are 5 to 30 years. You can make interest-only payments for the first 10 years.

The financing is available on primary homes, second homes and investment properties. You can borrow up to 90 percent of your home’s equity, depending on your credit score.

How Bankrate scored Spring EQ

Affordability: 4 stars

APR: Spring EQ doesn’t advertise rates on its website, but they tend to be competitive, even a tad on the low side, compared to other lenders.
Minimum draw: For fixed-rate HELOC: $25,000 or 75 percent of the total line, whichever is greater. For variable-rate HELOC: $50,000 or 75 percent of the total line. These are high minimums compared to other lenders.
Fees: Spring EQ charges an administration fee for all of its home equity products — as much as $999 — and other closing costs. HELOC borrowers are also charged a $99 annual maintenance fee. Though these charges aren’t atypical, some lenders don’t have any.

Despite decent rates, high minimum draw requirements and closing costs pull the affordability score down to 4 out of 5 stars.

Availability: 4.7 stars

Credit score: Spring EQ’s home equity loans and lines of credit require a minimum credit score of 640. That’s lower than the criteria set by many other lenders. (Borrowers must also meet Spring EQ's guidelines, like a maximum 45 percent debt-to-income ratio — 50 percent for some borrowers — and an appraisal of your home’s value.)
Loan minimum: $25,000 for fixed-rate products, $50,000 for the variable-rate HELOC. That’s on the high side for home equity lenders.
Loan products: Spring EQ provides home equity loans and adjustable-rate HELOCs, and unlike most lenders, it also offers a fixed-rate HELOC.
Footprint: Spring EQ is in 48 states. It doesn’t offer loans in Hawaii or New York.

Being in a majority of states and having a variety of products nets Spring EQ a 4.7 out of 5 stars for availability.

Borrower experience: 5.0 stars

Rate transparency: To see a non-binding, non-guaranteed offer from Spring EQ, you'll submit some personal information on the website. The process doesn't require a hard credit check.
Convenience: You can contact Spring online, by phone or via a very basic chat function. Once you get the HELOC or home equity loan, Shellpoint Mortgage Servicing or Select Portfolio Servicing (SPS) will be the servicer of your loan. You will need to contact them if you have any questions about your payments or monthly statements.
Customer service: Spring EQ has a few physical branches in Pennsylvania and Florida, but unless you live near one, you must apply and interact online.

Spring scores 5 out of 5 stars for borrower experience due to its rate transparency and many options for getting in contact.

How easy is it to contact Spring EQ?

When we tried to call the customer service numbers listed on the website, we were instructed to leave a message but then never received a call back.

Spring EQ reputation

Spring EQ has been a Better Business Bureau-accredited business since 2016. The lender gets an A+ rating.

What Bankrate users say about Spring EQ

On Bankrate, a recent customer said that they experienced “extremely poor communication” from the company.

To determine a home equity lender’s Bankrate Score, Bankrate rates lenders on a scale of one (1) to five (5) stars — with five (5) the highest rating — based on a variety of factors relating to the lender’s products and services. To assign our ratings, we assessed each mortgage lender across three core areas:
- Affordability: Annual percentage rate (APR) - 80%; introductory APR - 20%
- Availability: Licensing - 50%; credit score - 20%; loan minimum - 10%; draw requirement - 10%; loan products - 10%
- Borrower experience: Rate transparency - 35%; convenience - 35%; customer service - 20%; fixed-rate options - 10%
When a lender has entered a consent decree, been assessed a penalty in a case brought by a federal regulator or in a certified, federal class-action lawsuit, or received a federal judgment for harming home-equity borrowers within the past three years, we deduct one point for each penalty received from its total Bankrate Score.

Learn more about our methodology.

Compare Spring EQ with other lenders

Selected lender Spring EQ NMLS: 1464945 Bankrate score 4.2 Bankrate scores are objectively determined by our editorial team. Interest rates, fees, loan terms, borrower requirements and customer service are some of the factors that make up Bankrate's score. Customer score 3.6 Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.	Bankrate score Bankrate scores are objectively determined by our editorial team. Interest rates, fees, loan terms, borrower requirements and customer service are some of the factors that make up Bankrate's score. Customer score Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months. Read review	Bankrate score Bankrate scores are objectively determined by our editorial team. Interest rates, fees, loan terms, borrower requirements and customer service are some of the factors that make up Bankrate's score. Customer score Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months. Read review
Loan amount
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Min. credit score required
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Repayment terms
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Funds available in
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To help you make the most informed decisions, our home equity lender reviews team suggests an alternative home equity lender for each lender reviewed. In most cases, this alternative 1.) shares the same strength (affordability, availability or borrower experience) as the lender reviewed; and 2.) rates highly for Bankrate Score. In the event more than one lender meets these standards, we suggest the one with the higher Bankrate Score.

Spring EQ customer ratings and reviews

NMLS: 1464945

3.6

29 ratings

Knowledge

Level of service

Professionalism

Responsiveness

79% of customers would recommend this lender.

Spring EQ: 2026 Home Equity Review

4.2

3.6

Score breakdown

Editor's take

Pros

Cons