Last Updated: 04/18/2025
Spring EQ Home Equity Lines of Credit
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Last Updated: 04/18/2025
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Highlights
Credit Score Range
Amount Range
Maximum LTV
Minimum Draw
Loan Term (Years)
Spring EQ Home Equity Lines of Credit Review
Key Takeaways
- Fair credit accepted. Borrowers with a credit score as low as 660 may qualify for Spring EQ Home Equity Lines of Credit.
- Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
- Origination fees starting at $995.Origination fees are deducted from the loan amount, so take it into account when deciding how much you need to borrow.
- High maximum LTV ratio. Spring EQ Home Equity Lines of Credit has a maximum loan to value ratio of 90%.
- High maximum DTI ratio. Spring EQ Home Equity Lines of Credit requires a debt-to-income ratio of less than 50%. This ratio includes all your monthly debts, not just your proposed mortgage payment. Typically, lenders have a maximum DTI of 43% or lower.
Spring EQ Home Equity Lines of Credit Pros & Cons
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Spring EQ Home Equity Lines of Credit FAQ
How much can you borrow with a HELOC?
Is there a minimum draw requirement?
What fees does Spring EQ charge for a HELOC?
What types of property can you use as security for a HELOC with Spring EQ?
- Primary residences
- Secondary or vacation homes
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