States: 48 states (Not available in Hawaii or New York)
Max loan: $500,000 (HELOC and home equity loan)
Max CLTV: 90% (Up to 90% combined loan-to-value)
Who Spring EQ is best for
Borrowers who want a home equity specialist (not a generalist bank) with both fixed-rate and variable-rate products and wide state reach.
Pros
Offers both HELOC and fixed home equity loan — choice of structure
Fixed-rate HELOC option available — locks rate on draws
Wide footprint: 48 states covers most of the country
Home equity specialist — not a generalist bank with limited focus
Up to $500K line/loan amount
Cons
Not available in Hawaii or New York
Rates change frequently — must verify current APR at the lender
Not a credit union — no membership-based rate discounts
Spring EQ requirements
Sufficient home equity (CLTV ≤ 90%)
Minimum credit score — verify with lender
US property (not HI or NY)
Spring EQ alternatives
Better(Better Mortgage Corporation) — Borrowers who want the fastest digital HELOC process and need a lender that covers primary residences, second homes, and investment properties in one product. Read reviewGet started at Better Mortgage Corporation →
Figure(Figure Lending LLC) — Borrowers who want a fast, fully digital HELOC with strong state coverage and don't need a traditional revolving draw structure. Read reviewGet started at Figure Lending LLC →
PenFed Credit Union(Pentagon Federal Credit Union) — Borrowers who want a credit union HELOC with broad geographic coverage, a rate-lock feature, and access to both primary and investment properties. Read reviewGet started at Pentagon Federal Credit Union →
Bottom line
Spring EQ — 48-state home equity specialist — HELOC and fixed loan, up to $500K. Best for: Borrowers who want a home equity specialist (not a generalist bank) with both fixed-rate and variable-rate products and wide state reach.. Compare it against alternatives before applying; the right fit depends on your situation, credit, and goals.
Questions about Spring EQ
What is Spring EQ's NMLS ID?
Spring EQ, LLC holds NMLS #1464945. You can verify this and confirm current state licensing at nmlsconsumeraccess.org.
Does Spring EQ offer a HELOC or a home equity loan?
Spring EQ offers both. The HELOC is a revolving line of credit — draw as needed over the draw period. The home equity loan is a fixed lump sum at a fixed rate. Spring EQ also offers a fixed-rate HELOC option that locks in a rate on individual draws, reducing the rate-variability risk of a standard HELOC. Verify current product terms at mortgage.springeq.com.
What states does Spring EQ operate in?
Spring EQ is licensed in 48 states as of May 2026. It does not offer loans in Hawaii or New York. The company notes that NY mortgage solicitation cannot be facilitated through its site. Verify current state licensing at nmlsconsumeraccess.org under NMLS #1464945.
How we rate
Every pick gets a 1–5 ClearValue Rating computed from four weighted factors: Editorial confidence (30%), Cost (25%), Value (25%), and Accessibility (20%).
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