Spring EQ Home Equity Lines of Credit

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%.
• Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Spring EQ Home Equity Lines of Credit.
• 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

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