Spring EQ

What Spring EQ does

Spring EQ is a U.S. non-bank mortgage lender founded in 2016 and headquartered in Conshohocken, Pennsylvania, specializing in home equity lending products. The company originates variable-rate HELOCs, fixed-rate HELOCs (up to $500,000), home equity loans, refinance, and purchase mortgages, serving individual homeowners seeking to access built-up equity without disturbing existing low first-mortgage rates. Spring EQ is licensed as a mortgage lender under NMLS #1464945 across 48 states (New York excluded) and operates as an Equal Housing Lender.

The company's product stack is supported by an integrated technology platform that includes online self-serve pre-qualification (prequal.springeq.com) and dedicated wholesale (wholesale.springeq.com) and correspondent (correspondent.springeq.com) portals. In February 2026, Spring EQ became the first HELOC lender to implement FICO Score 10T, leveraging trended credit data — including rental history — to expand approvals without incremental risk and reduce delinquencies. The platform is being extended into non-QM products, including a DSCR-based pilot (2025) and a planned bank-statement program (2026) for self-employed and investor borrowers.

Spring EQ operates a hybrid go-to-market combining direct-to-consumer digital acquisition with broker, wholesale, and correspondent partner channels, alongside referral partnerships with LendingTree and Bankrate. Revenue is generated through interest income and origination fees on its lending products; the company has scaled from $1.7B in loan volume in 2023 to an expected $4B+ in 2024, and has unlocked more than $11B in home equity for 120,000+ homeowners since founding. The company is privately held, founder/CEO-led, and operates with a lean headcount relative to origination volume, suggesting a high degree of automation and partner-driven origination.

Name

Spring EQ

Legal name

Spring EQ, LLC

Website

https://springeq.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Spring EQ is a U.S. non-bank mortgage lender founded in 2016 that originates HELOCs, home equity loans, and refinance products for individual homeowners across 48 states, distributing through direct-to-consumer, wholesale, and correspondent channels, and originating $4B+ annually.

Ownership category

akta.pro rank

Product category

Home Equity Lending

NAICS

Mortgage and Nonmortgage Loan Brokers (522310)

SIC

Mortgage Bankers & Loan Correspondents (6162), Personal Credit Institutions (6141)

akta.pro primary industry

HELOC Origination (Revolving Lines of Credit) (FSALAGAB)

akta.pro secondary industries

Home Equity Loan & HELOC Intermediation (FSAEAEAD), Home Equity Loan/HELOC Secondary Market & Securitization (ABS/Whole Loan Sales) (FSALAGAH), HELOC & Second-Lien Wholesale Lending (FSALACAG), Home Equity–Based Debt Consolidation (HEL/HELOC for consolidation) (FSAKAIAE)

Keywords

• Home equity lending
• HELOC products
• Mortgage refinance
• Non-QM lending
• Wholesale mortgage

Headquarters

HQ city

Philadelphia

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Home Equity Lending Products: Spring EQ generates revenue primarily through interest income on its suite of home equity lending products including variable-rate HELOCs, fixed-rate HELOCs, home equity loans, home refinance, and purchase mortgages. The company acts as a direct lender, originating and typically retaining or selling loans in the secondary market through wholesale and correspondent channels.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Spring EQ is a non-bank mortgage lender specializing in home equity solutions for U.S. homeowners. The company originates variable-rate HELOCs, fixed-rate HELOCs (up to $500,000), home equity loans, home refinance loans (up to 80% CLTV/LTV), and purchase mortgages. Distribution occurs through direct-to-consumer digital channels, inside sales, and broker wholesale/correspondent lending partnerships across 48 U.S. states.

Product overview

Spring EQ is a home equity lending platform offering a unified suite of products centered on home equity lines of credit (HELOCs) and home equity loans. The core product portfolio consists of Variable-Rate HELOCs and Fixed-Rate HELOCs (with Fixed-Rate HELOCs offering up to $500,000), supplemented by Home Equity Loans for lump-sum disbursements, Home Refinance options (up to 80% CLTV/LTV), and Purchase Mortgages. The platform is expanding into non-QM products including a DSCR-based program (currently piloting) and a bank statement program (planned for early 2026) to serve self-employed and investor borrowers. Spring EQ differentiates through speed (funding in as few as 11 days) and technology integration, having been the first HELOC lender to implement FICO Score 10T for enhanced credit decisioning.

Differentiator

Problem solved

Functional benefit

Products and services

• Variable-Rate HELOC A revolving line of credit with variable interest rates that adjust with the market, allowing homeowners to access funds as needed and pay interest only on amounts drawn. Best suited for short-term or occasional borrowing. Up to $500,000 available.
• Fixed-Rate HELOC A home equity line of credit with a fixed interest rate offering the flexibility of a credit line with the long-term stability of predictable monthly payments. Up to $500,000 available, ideal for long-term projects or ongoing expenses.
• Home Equity Loan A lump-sum home equity loan with fixed terms allowing homeowners to receive funds upfront to pay off high-interest debt, cover major expenses, or invest in home improvements. Fixed repayment terms simplify budgeting.
• Home Refinance Mortgage refinance products allowing homeowners to replace their existing mortgage with new terms or access cash out, with maximum CLTV/LTV of 80%.
• Purchase Mortgage Mortgage products for purchasing a property, complementing the home equity offerings for homeowners at different stages of their journey.

Quantifiable outcome

• FICO Score 10T delivers up to 5% more loan approvals without adding incremental risk
• +5 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature1 record

Partnerships

Three partnerships are on record, tiered core and minor.

• FICOcoreTechnology or Integration · 3 February 2026Spring EQ became the first HELOC lender to implement FICO Score 10T for non-conforming mortgage loans. The FICO Score 10T Adopter Program delivers up to 5% more loan approvals without adding incremental risk or up to 17% reduction in delinquencies through enhanced predictability using trended data including rental history. This partnership enables Spring EQ to make more accurate credit decisions and expand access to sustainable homeownership.
• LendingTreeminorGTM or Marketing PartnerSpring EQ maintains a partnership with LendingTree as a featured home equity lender on the comparison shopping platform, generating referral leads for home equity products.
• BankrateminorGTM or Marketing PartnerSpring EQ is recognized as an approved lender on Bankrate's platform, indicating competitive products and rates featured on the financial comparison website.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Figure Technologies: Figure Technologies is a digital-first non-bank lender that originates HELOCs and home equity loans via a streamlined online process, directly competing with Spring EQ's variable-rate and fixed-rate HELOC products. Both target homeowners seeking fast, technology-enabled home equity access.
• Aven: Aven is a digital home equity lender that offers HELOC-style products through a fully online experience, competing head-to-head with Spring EQ on speed, technology-driven underwriting, and the homeowner segment looking to unlock home equity without touching their first mortgage.
• Longbridge Financial: Longbridge Financial is a non-bank lender specializing in home equity-focused products including HELOCs and reverse mortgages, similar to Spring EQ's HELOC and home equity loan portfolio. Both target equity-rich homeowners with tailored, non-QM-friendly products.
• Angel Oak Mortgage Solutions: Angel Oak Mortgage Solutions is a non-QM specialist lender offering HELOCs, home equity loans, and other non-conforming products, comparable to Spring EQ's expanding non-QM roadmap (DSCR and bank statement programs). Both compete for borrowers outside traditional QM guidelines.
• NewRez (Rithm Capital): NewRez is a non-bank mortgage lender offering a broad product suite including HELOCs, conventional, government, and non-QM loans through retail, wholesale, and correspondent channels, mirroring Spring EQ's hybrid distribution model. Both compete in the wholesale/correspondent HELOC channel.

Broad incumbents

• loanDepot: loanDepot is a large national non-bank mortgage lender offering HELOCs, purchase, and refinance products across retail, wholesale, and partner channels. It overlaps with Spring EQ on HELOC products but operates at significantly greater scale.
• Rocket Mortgage: Rocket Mortgage is the largest U.S. mortgage lender offering HELOCs, refinance, and purchase mortgages via a fully digital experience plus partner channels. It competes with Spring EQ on speed and digital acquisition but at vastly greater scale and brand reach.
• United Wholesale Mortgage (UWM): UWM is the largest U.S. wholesale mortgage lender, operating a partner/broker channel comparable to Spring EQ's wholesale and correspondent business. While not a HELOC pure-play, it competes for broker-originated home equity volume.
• SoFi: SoFi is a large online consumer lender offering home equity loans and other credit products to a similar tech-savvy homeowner demographic. It competes with Spring EQ on digital experience and speed of funding.
• Third Federal Savings & Loan: Third Federal is a large savings institution historically known as a HELOC specialist offering low-rate home equity lines of credit nationwide. It competes with Spring EQ for the same core HELOC borrower.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Spring EQ