Spring EQ

Spring EQ

Digital mortgage solutions with home loans

Overview

Spring EQ provides mortgage services for homeowners, including home equity loans, refinancing, cash-out options, and home purchase loans. It targets borrowers with a FICO score of 680+ and debt-to-income ratio of 50% or less, and it operates in the mortgage market using a digital, streamlined process to fund loans quickly. The company differentiates itself with a fast, customer-friendly digital workflow, competitive interest rates, flexible loan options, and strong customer service, aiming to reduce friction and resolve issues efficiently. Its goal is to offer up to 90% of home value for qualified borrowers (excluding investment properties) and to be a reliable, easy-to-use source for mortgage solutions by prioritizing fast funding and responsive service.

Significant Headcount Growth

About Spring EQ

Simplify's Rating
Why Spring EQ is rated
C+
Rated B on Competitive Edge
Rated B on Growth Potential
Rated D+ on Differentiation

Industries

Fintech

Financial Services

Company Size

201-500

Company Stage

N/A

Total Funding

N/A

Headquarters

Conshohocken, Pennsylvania

Founded

2016

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Simplify's Take

What believers are saying

  • Spring EQ launched fixed-rate HELOCs on June 19, 2024 across retail, partner, TPO.
  • Spring EQ plans a bank statement program in early 2026 after piloting DSCR.
  • National Mortgage News named Spring EQ one of 2026's Best Mortgage Companies to Work For.

What critics are saying

  • Mason v. Spring EQ became a certified TCPA class action on September 25, 2025.
  • Spring EQ disclosed a November 21, 2024 email breach exposing sensitive consumer information.
  • A class-action verdict or privacy penalty can crush margins and damage broker trust fast.

What makes Spring EQ unique

  • Cerberus owns Spring EQ since December 18, 2023, backing technology investment and growth.
  • Spring EQ originated all loans in Towd Point Mortgage Trust 2025-HE2 securitization.
  • Roam Boost uses Spring EQ second liens for assumable mortgages and down-payment assistance.

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Growth & Insights and Company News

Headcount

6 month growth

7%

1 year growth

7%

2 year growth

7%
Spring EQ
Mar 26th, 2026
Spring EQ named one of the Best Mortgage Companies to Work For in 2026.

Spring EQ named one of the Best Mortgage Companies to Work For in 2026. Careers March 26, 2026 Blog Post Spring EQ is proud to announce that Spring EQ LLC has been recognized as one of the Best Mortgage Companies to Work For in 2026 by National Mortgage News. This annual ranking celebrates employers in the lending industry that demonstrate strong culture, employee engagement, and an unwavering commitment to their teams. This year, 40 companies across the nation earned a place on the list, reflecting a growing emphasis on workplace excellence throughout the mortgage industry. What makes this recognition so meaningful is its foundation - feedback directly from employees. Through an extensive survey that evaluates areas such as leadership, culture, career development, pay and benefits, and overall engagement, the program gives team members a platform to share their authentic experiences. In fact, employee feedback accounts for 75% of the final score, underscoring the importance of genuine workplace satisfaction. As Spring EQ celebrates its 10-year anniversary, the timing of this award is especially significant. "Receiving recognition for something where team member feedback carries so much weight makes this honor especially meaningful," said Joe Steffa, CEO. "It reflects the culture we've built together and the commitment our team brings to supporting one another and our customers." With a national presence and a broad range of home equity and mortgage products, Spring EQ combines innovative technology with a human-centered approach to deliver trustworthy loans, faster funding, and a streamlined experience. Being named one of the Best Mortgage Companies to Work For in 2026 reinforces its belief that when team members thrive, customers benefit. To its customers, partners, and team members, thank you for being part of its journey. Spring EQ LLC look forward to many more years of serving you with integrity, care, and excellence.

Spring EQ
Feb 27th, 2026
Spring EQ Named One of America's Best Hybrid Workplaces

Spring EQ named one of America's Best Hybrid Workplaces. WFH February 27, 2026 Blog Post Recognition from Best Companies Group Highlights the Company's People-First Culture Spring EQ LLC is proud to share that Spring EQ has been officially named one of the Best Hybrid Workplaces in America by Best Companies Group (BCG) - a national leader in workplace culture evaluation and employer recognition. This honor is especially meaningful as Spring EQ celebrates its 10-year anniversary, marking a decade of growth driven by a commitment to empowering homeowners, home buyers, and the talented team members who make its work possible. A Recognition Rooted in Team Member Voices BCG's workplace awards are among the most trusted in the industry because they're based on direct team member feedback, paired with rigorous, data-driven analysis. For more than 20 years, BCG has helped over 10,000 companies showcase what makes them great places to work. Being named a Best Hybrid Workplace reflects what its own team members say about working at Spring EQ - their experiences, their trust in leadership, and their belief in its mission. "An Environment Where Team Members Thrive" Joe Steffa, CEO of Spring EQ, shared the significance of the recognition, "Spring EQ is proud to celebrate this recognition as one of America's Best Hybrid Workplaces as we mark our 10-year anniversary. This honor reflects our unwavering dedication to putting homeowners, home buyers, and our team members first, fostering an environment where team members feel supported, inspired, and empowered to deliver world-class customer care." Spring EQ's hybrid approach is built to offer flexibility, transparency, and opportunities for collaboration - ensuring team members feel connected and valued, no matter where they work. Steffa continued, "Spring EQ ensures team members feel valued by incorporating their feedback into decision-making, celebrating achievements, and maintaining open communication channels to reinforce inclusion. Ensuring they feel valued as part of our hybrid environment enables us to maintain our focus on helping home buyers and homeowners achieve their goals while creating a workplace where team members thrive." Home Equity Careers Mortgage Careers February 26, 2025 Blog Post At Spring EQ, Spring EQ LLC is honored to be recognized by National Mortgage News as one of the Best... HELOC Home Equity Cash Access Home Improvement Home Design Heating June 16, 2023 Blog Post Whether you're avoiding falling iguanas in South Beach or braving the blistering cold of a Chicago... HELOC Home Equity Cash Access Home Improvement FICO Home Design June 16, 2023 Blog Post Spring EQ LLC can all agree your credit score - aka FICO(R) score - is a big deal when it comes to securing any... HELOC Home Equity Home Improvement National Puppy Day March 23, 2022 Blog Post When it comes to its pets, many of Spring EQ LLC feel like they're full-fledged members of the family. And... HELOC Home Equity Cash Access Home Improvement Remodel Home Design March 6, 2023 Blog Post All homeowners have one thing in common: a seemingly endless list of home improvement projects.This... HELOC Home Equity Cash Access Home Improvement Remodel Home Design January 11, 2023 Blog Post In all housing markets - but especially today's - homeowners are looking for ways to stand out from the...

Spring EQ
Feb 26th, 2025
Spring EQ Named One of the Best Mortgage Companies to Work For in 2025!

At Spring EQ, Spring EQ LLC is honored to be recognized by National Mortgage News as one of the Best Mortgage Companies to Work For in 2025!

Data Breach Class Action Lawyers
Nov 26th, 2024
Spring EQ Data Breach Class Action Investigation

A recent report from the California Attorney General's office reveals that Spring EQ experienced a data breach involving unauthorized access to an employee's email account.

Benzinga
Jun 19th, 2024
Spring Eq Adds Fixed-Rate Heloc To Home Equity Loan Suite Of Products

Philadelphia, PA June 19, 2024 --(PR.com)-- Spring EQ, a leading provider of home equity financing solutions, announced today that it has added Fixed Rate Home Equity Line of Credit (HELOC) products to its range of home equity and mortgage solutions.The Fixed-Rate HELOC product will offer 15-, 20- or 30-year terms, and be available across all of Spring EQ’s business units, including retail, partner, and TPO broker. It is expected to launch in the Correspondent channel in the coming weeks.“We’re excited to offer this new fixed-rate HELOC,” said Spring EQ Chief Executive Officer Jerry Schiano. “It’s an innovative product, and we believe homeowners will appreciate the flexibility of a HELOC along with the reliability of a fixed rate and payment.”“The Fixed-Rate HELOC allows us to offer another solution to more homeowners,” said Joe Steffa, Executive Chairman of Spring EQ. “With today’s rate environment and record amounts of tappable equity across the nation, it’s a key differentiator for us to offer the widest, deepest range of solutions. This product helps us continue to do just that.”One of the fastest-growing non-bank home equity lenders in the nation, Spring EQ adds Fixed Rate HELOCs to a product suite including Variable Rate HELOCs offering multiple draw periods, and Fixed-Rate Home Equity Loans with terms ranging from 5 to 30 years. Spring EQ extends eligibility to self-employed property owners, and loans are available for primary homes, secondary homes and investment properties.About Spring EQ

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