- Fixed and variable HELOCs, plus a home equity loan
- $50,000 to $500,000, up to 90% of your home’s value
- Qualify with a FICO as low as 640
- No rates or fee amounts posted
- Licensed in 48 states
| Products | Fixed-rate HELOC, variable-rate HELOC and home equity loan. Also refinance and purchase loans |
|---|---|
| Amounts | $50,000 to $500,000, up to 90% of your home’s value |
| Rates | Not posted. Its comparison table says “Low” |
| Terms | Fixed HELOC 15, 20 or 30 years. Home equity loan 10 to 30 years. HELOC draw period length not stated |
| Minimum credit score | 640 FICO |
| Costs | No application fee. HELOCs have a lender fee and an annual fee, and the home equity loan has a lender fee only. Amounts not stated |
| Prepayment penalty | None on any of the three |
| Funding | As few as 11 days, from a complete application to funding |
| States | Licensed in 48 states. Not New York or Hawaii |
| Trustpilot | Only 3 reviews, too few to rate, read October 13, 2026 |
Our take: Spring EQ is a lender worth a quote if your credit score is in the low 640s and you want $50,000 or more. It lends in 48 states and sells three products: a fixed-rate HELOC, a variable-rate HELOC and a home equity loan.
The problem is that it doesn’t post a single rate, and it doesn’t say what its lender fee or annual fee costs. You’ll learn the real price only after you apply.
That makes it hard to compare. Get a Spring EQ quote, then set it next to two others.
What Spring EQ offers
The fixed-rate HELOC locks your rate for the life of the loan. The terms are 15, 20 or 30 years, and you draw as you need during the draw period.
The variable-rate HELOC floats with the market. It starts lower, and you can make interest-only payments during the draw. Spring EQ pitches it for short-term borrowing you plan to pay down fast.
The home equity loan is a lump sum with a fixed rate and a term from 10 to 30 years. You get everything at closing.
All three let you keep your current first mortgage. Spring EQ lends against up to 90% of your home’s value.
What it costs
There’s no application fee. After that, it gets vague.
The HELOCs carry a lender fee and an annual fee, and the home equity loan carries a lender fee but no annual fee. Spring EQ doesn’t print the amounts. Third-party costs, like an appraisal or title work, may also apply.
There is no prepayment penalty on any of the three products, which is good. You can pay one off early.
When you get your estimate, ask for the lender fee and annual fee in dollars on the exact amount you want. Then compare the first year’s total cost against a lender that does post its numbers.
Who qualifies
You can qualify with a FICO as low as 640. Achieve’s minimum is 600, so it isn’t the lowest bar around, but it’s workable.
Spring EQ doesn’t state an income test, a debt-to-income limit or which property types it accepts, and it doesn’t say whether it takes a first or second lien. Ask each of those up front.
Funding can be quick, as few as 11 days, based on loans from August 1 through October 15, 2025. Treat that as a best case.
Is Spring EQ available in your state?
Spring EQ is licensed in 48 states. The license list covers every state and Washington, D.C. except Hawaii and New York, and New York properties can’t be applied for through the site.
A license isn’t a promise that every product is offered everywhere, so confirm your state when you request a quote. Virginia is on the license list.
What Spring EQ HELOC reviews can’t tell you
Spring EQ’s site is full of customer quotes. They’re all glowing, and the company picked them, so they tell you little.
The independent record is thin. Trustpilot shows just 3 reviews as of October 13, 2026, and Spring EQ hasn’t invited its customers to review there. Three reviews can’t tell you anything about service or pricing.
Spring EQ says it has served more than 160,000 homeowners since 2016. That’s a size claim, not a quality one. Your best check is the numbers in your own loan estimate.
Pros and cons
Pros
- You can qualify with a FICO as low as 640.
- Up to $500,000, and up to 90% of your home’s value.
- No application fee and no prepayment penalty.
- A fixed HELOC, a variable HELOC and a home equity loan from one lender.
- Licensed in 48 states.
Cons
- No rates are posted on its site.
- The lender fee and the HELOC annual fee amounts aren’t stated.
- The minimum is $50,000.
- Draw period length, lien position and property types aren’t stated.
- It doesn’t lend in New York or Hawaii.
- Trustpilot shows only 3 reviews.
Who should use it
It’s a reasonable stop for a borrower with a score near 640 who needs $50,000 or more and wants a choice between a line and a lump sum.
It’s a weak fit if you shop on price and want to see a rate before you hand over a credit check. Under $50,000, it’s out. That’s the minimum on all three products.
How to apply
Start at Spring EQ’s site. You can see your options online, upload documents in its applicant portal or call 888-978-9978.
After closing, a partner servicer handles your payments, and Spring EQ names three: Shellpoint Mortgage Servicing, Select Portfolio Servicing and Alliant. You’ll find out which one by email.
Spring EQ vs. other lenders
- Achieve: a fixed APR from 6.10% to 15.17% is posted, with a 600 minimum credit score and closing costs of $750 to $10,304 in 31 states.
- PenFed: a variable rate starting at 7.000% as of October 2026, a $99 annual fee and most closing costs paid. You have to join the credit union.
- Upstart: APRs from 6.52% to 18.00% as of June 2026, lines of $26,000 to $250,000 and a required draw of 80% at opening.
Want to skip the monthly payment? HEI vs HELOC compares a home equity agreement with a line of credit.
Spring EQ could make sense if your score is near 640, you need $50,000 or more and you get the fee amounts in writing before you commit.
FAQ
A FICO as low as 640.
$50,000 to $500,000, and up to 90% of your home’s value.
No. Its site doesn’t list an APR or interest rate for any product. You get a rate after you start an application.
On its HELOCs, yes, though the amount isn’t stated. The home equity loan has a lender fee but no annual fee.
No. All three products carry no prepayment penalty.
It’s licensed in 48 states and Washington, D.C. It doesn’t lend in New York or Hawaii.
Sources (12)
We use primary sources: each company’s own product pages and legal terms.
- Spring EQ. Home. springeq.com. Accessed October 13, 2026.
- Spring EQ. Variable-Rate HELOC. springeq.com. Accessed October 13, 2026.
- Spring EQ. Fixed-Rate HELOC. springeq.com. Accessed October 13, 2026.
- Spring EQ. Home Equity Loan. springeq.com. Accessed October 13, 2026.
- Spring EQ. Loan Options. springeq.com. Accessed October 13, 2026.
- Spring EQ. About Us. springeq.com. Accessed October 13, 2026.
- Spring EQ. Disclosures and License Information. springeq.com. Accessed October 13, 2026.
- Spring EQ. Customer Resources. springeq.com. Accessed October 13, 2026.
- Trustpilot. Spring EQ reviews. trustpilot.com. Accessed October 13, 2026.
- Achieve. Home Equity Line of Credit (HELOC). achieve.com. Accessed October 13, 2026.
- PenFed Credit Union. Home Equity Line of Credit (HELOC). penfed.org. Accessed October 13, 2026.
- Upstart Home Lending. HELOC. upstartmortgage.com. Accessed October 13, 2026.
Take the next step.
Get a Spring EQ quote, then compare it.
$50,000 to $500,000 from a 640 FICO. Ask for the fee amounts in writing.
Rates, terms and availability change. Check the current terms on Spring EQ’s site before you apply.