Reviews

This profile includes reviews for Spring EQ LLC's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Spring EQ LLC

  1 W Elm St Ste 450 Conshohocken, PA 19428-4152

  
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  Spring EQ LLC

  100 W Matsonford Rd Bldg 5 Ste 100 Radnor, PA 19087-4559

  

Review Details

• Review fromSandra W

  Date: 05/30/2024

  I attempted to do business with Spring EQ via Prosper. I applied for a HELoan through ******* and had a wonderful experience with their original loan ******** ************* She was an absolute pleasure and I wish she kept my file. She submitted my documentation to Spring EQ which I already knew would occur. Once it got there I waited a week to figure out what was going on with my application. I reached out and then received an email from that loan officer ************************* stating my credit score was not high enough. He then touched base with me via phone also the next day, 13th or 14th of May to explain that. I want to state I am not denying nor complaining on my score. It is that I was led to believe that the loan was still possible. To explain, During this same conversation he proceeded to let me know that an internal credit enhancement team can take a look at my credit and determine what I can pay down quickly to pull my score up and then avoid reapplying. This seemed like an internal rapid score situation which I am familiar with from previous home purchases. So not odd to hear of it. I said okay lets do that because I still wanted to proceed with the loan since it seemed to be only that holding it up, it was equity or DTI. **** stated he would send my file over and I should hear from them in a couple days. I never heard from that team and I emailed **** to follow up and verify if I should just pay off something to boost my score and he said to wait for the team. Well it is 5/30 and I am still waiting but in the mean time I did email the Prosper loan officer and explained it to her and she apologized but I said if they do business like that then it isnt worth my money to work with them regardless of the reason. I was wanting to at least attempt to do business but it didnt work out that way as I was led to believe it was possible and I dont condone that kind of business practice. Such a bummer but now I know what score to improve on and take it elsewhere.
  

  Spring EQ LLC

  Date: 05/31/2024

  Thank you for your feedback. If you have questions or concerns regarding a current or prior application with Spring EQ, LLC, please contact us directly at ************.

• Review fromraymond a

  Date: 05/09/2024

  was told a date my checks would arrive all emails and correspondence reflect 5/9/2024 in their own words checks should arrive no later then 5/9/2024 this did not occur. when i called into customer service i was told it could be a full month later. tell me how cutting checks to pay off loans work when spring eq takes 2 months to get the money from funding date. am i supposed to just miss payments because we lie on funding dates
  

  Spring EQ LLC

  Date: 05/10/2024

  Thank you for your feedback. If you have questions or concerns regarding a current or prior application with Spring EQ, LLC, please contact us directly at ************.

• Review fromKelly S

  Date: 04/23/2024

  One of the worst Home Equity companies I ever had the displeasure of dealing with and I really wish I had read more reviews on them before staring my process of obtaining a loan from them. After providing all required documents in a very timely manner and being told I was good to go, there were unnecessary multiple day long delays for them to tell me we were good and then to come back again and with new stipulations and wanting to pay off some other debt with a quarter of the money I was asking to borrow. They then came back again several days later and stated my documents were not sufficient enough after informing me they were a few days prior and wanted even more documents. The whole process was very frustrating and was a sh*t show. I will never do business with this company again nor would I recommend anyone wasting their time. If you have something important that you need to purchase using equity in your home, THIS IS NOT THE COMPANY TO USE as they almost cost me the purchase of a very important piece of property next to my primary home.
  

  Spring EQ LLC

  Date: 04/25/2024

  Thank you for your feedback. If you have questions or concerns regarding a current or prior application with Spring EQ, LLC, please contact us directly at ************.

• Review fromKeondra S

  Date: 03/12/2024

  I started working with Spring EQ a year ago getting things in order to apply for a home equity loan. The last 30 days became a complete disaster with this company. I only asked for a specific amount to consolidate bills they then came back and told me that they would give me $40,000 more than what I originally asked for because now that I’d filed taxes, my debt to income was over the limit. I agreed for them to pay down taxes in order to still receive the loan. I also had to agree for them to pay off a $29,000 vehicle that I just purchased three years ago and $6000 in credit cards, which I never asked for them to pay. This still wasn’t enough they did a drive-by appraisal, which wasn’t enough to then charge me $585 to do an inside the home appraisal which still wasn’t enough my home appraise for $146,000 more than purchase price in less than 3 years. (546,000) thirty days in I brought up the words, “predatory lending” and they then no longer could pay down taxes to approve this loan. All of a sudden this wasn’t an option! I was told by the company this put me over the 43%. Why not pay the taxes off if this is what your company said needed to happen? I was told I would need to go back and do a rebuttal with the original appraisal. I’d be a fool to repay for a third appraisal. When homes around me are selling for 40,000 less than my home appraisal. The communication would go silent for a week at a time. Everything they asked me to do I did from credit to taxes to bills being paid off and down to agreeing to what the underwriter on their side decided to pay for me. After there hard pull took my credit score down 9points I was told to try to get it back up! WHAT WENT WRONG?! Was I targeted as an African-American entrepreneur unmarried woman under the age of 40? Every stipulation they stuck to me I agreed to. Everything I was asked to do I did it and I still don’t understand why 38 days later we have no signed loan as I was denied. Bad Business an it can’t just be me.
  

  Spring EQ LLC

  Date: 03/13/2024

  Thank you for your feedback. If you have questions or concerns regarding a current or prior application with Spring EQ, LLC, please contact us directly at ************.

• Review fromKeondra S

  Date: 03/12/2024

  I started working with Spring EQ a year ago getting things in order to apply for a home equity loan. The last 30 days became a complete disaster with this company. I only asked for a specific amount to consolidate bills they then came back and told me that they would give me $40,000 more than what I originally asked for because now that I’d filed taxes, my debt to income was over the limit. I agreed for them to pay down taxes in order to still receive the loan. I also had to agree for them to pay off a $29,000 vehicle that I just purchased three years ago and $6000 in credit cards, which I never asked for them to pay. This still wasn’t enough they did a drive-by appraisal, which wasn’t enough to then charge me $585 to do an inside the home appraisal which still wasn’t enough my home appraise for $146,000 more than purchase price in less than 3 years. (546,000) thirty days in I brought up the words, “predatory lending” and they then no longer could pay down taxes to approve this loan. All of a sudden this wasn’t an option! I was told by the company this put me over the 43%. Why not pay the taxes off if this is what your company said needed to happen? I was told I would need to go back and do a rebuttal with the original appraisal. I’d be a fool to repay for a third appraisal. When homes around me are selling for 40,000 less than my home appraisal. The communication would go silent for a week at a time. Everything they asked me to do I did from credit to taxes to bills being paid off and down to agreeing to what the underwriter on their side decided to pay for me. After there hard pull took my credit score down 9points I was told to try to get it back up! WHAT WENT WRONG?! Was I targeted as an African-American entrepreneur unmarried woman under the age of 40? Every stipulation they stuck to me I agreed to. Everything I was asked to do I did it and I still don’t understand why 38 days later we have no signed loan as I was denied. Bad Business an it can’t just be me.
  

  Spring EQ LLC

  Date: 03/14/2024

  Thank you for your feedback. If you have questions or concerns regarding a current or prior application with Spring EQ, LLC, please contact us directly at 888.978.9978.

• Review fromSandra S

  Date: 03/04/2024

  I am retired from having been in the RE business over 45 yrs. The service I received from Spring EQ was excellent!
  

  Spring EQ LLC

  Date: 03/05/2024

  Thank you for this great 5-star review! We really appreciate you being a loyal customer and helping to share the word about us. It was a pleasure assisting you in meeting your goals. At Spring EQ, we aim to go beyond our clients’ expectations, so we are happy to hear that we delivered as promised. We look forward to working with you again!

• Review fromJohn S

  Date: 12/08/2023

  Spring EQ made me jump through some ridiculous hoops and completely modify my residence's construction plans, causing multiple delays and confusion for my GC and all the trades. I ended up paying for much of the work up-front depleting my savings to qualify for their crazy requests. The worst was after months of scrambling to meet their demands, 2 days after asking my rep to change my declaration of race from undeclared to Black, the underwriters suddenly decided they no longer wished to process my loan. By far, the worst experience I have experienced with any lender. Spring EQ, I do not have any further questions or concerns I would like addressed. You have shown me who you are and I do not need any further response from you. Your canned responses here are pathetic.
  

  Spring EQ LLC

  Date: 12/12/2023

  Thank you for sharing your experience with us. We appreciate your transparency. We do apologize that your experience with us fell short of expectations. At this time, we are unable to identify your file at Spring EQ. We request that you please reach out to us by either phone ************ or email at **************** so that we may investigate this issue.

• Review fromJoy E.

  Date: 11/02/2023

  I would give Spring EQ, LLC 0 stars if possible. I applied for a Home Equity loan for 40k from Spring EQ, LLC on my own credit check and income and filled out all the require information. This was the absolute worst experience I have ever had with a loan company.. I was promised the loan would be approved from start to finish in 2 and 1/2 weeks. The loan was sent to underwriters, Once that was completed, I resumed the Loan online. They made me jump through hoops 2 days before the loan was to be approved. I had to pay off a grant ahead of time because they insisted it be paid off. It was deducted to be paid at closing when I personally had to take care of it. I had to file the deed which I was told should have been taken care of by Spring EQ LLC. There was a credit card with no statement available. I took screenshots online of the account with Wells Fargo but they harassed me for information that the bank could not even provide. They charged me extra money to keep my interest rate lower. They went beyond the 7 years that was requested at the last minute and asked for documents that were unnecessary. The process took over a month of continued aggravation and represented a hostile environment. They made so many errors on the paperwork. I was beyond challenged and frustrated. When I started to read all the documents, I realized they wanted 10.95% with many hidden fees. In a twenty-year time frame they would make over 40K in interest if the loan goes to term. I felt I was misled through the whole process as well as mistreated. So many unexplained extra costs were deducted at closing. I felt scammed. I would never do business with them ever again. It fell short of my high hopes and expectations. They also told me the loan would be sold within the first month to another institution.
  

  Spring EQ LLC

  Date: 11/06/2023

  Thank you for your feedback. If you have questions or concerns regarding a current or prior application with Spring EQ, LLC, please contact us directly at *************

• Review fromTammie J

  Date: 10/27/2023

  This was the absolute worst experience I have ever had with a loan company. I did not reach ot to them, they called me non-stop everyday until I finally answered. We worked with Shamori Spencer. When he was trying to get our business he was the nicest. When we started providing documents and trying to get approved he was not responsive. He never answered his phone or texts. He even asked us to stop contacting him. We never received updates. When we tried to submit documents supporting my husband's income he emailed back, "denying this paperwork, best of luck". We would go over a week with no communication thinking things were going to be approved and we could move forward, only to hear we didn't qualify but no one contacted us to let us know. I have never experienced such a lack of customer service for something that was so important. I had never heard of Spring EQ before this and I wish I never had. "Home Equity Made Easy"? I think not. Horrible people. They are just pushy salespeople that make promises and do nothing. Stay far away. Not sure how they have a 4 star review rating.
  

  Spring EQ LLC

  Date: 10/30/2023

  Thank you for your feedback. If you have questions or concerns regarding a current or prior application with Spring EQ, LLC, please contact us directly at ************.

• Review fromBianca M

  Date: 09/27/2023

  0 star. Started our loan around June 2023. We have had to restart twice. We are actually about to restart the third time. They take forever for the most simple tasks. Our acquired mortgage company has been waiting on them to respond, but they never do. We have tried contacting Samantha as well as Shakeena R*****, but they don't answer their phone or email. We have been transferred all over the place and apparently per the appraiser Spring has tried to do a few illegal steps. Paid $520 for an appraisal just so it could be under the amount everyone else has quoted the house (hmm?). We reached out multiple times to see if they needed any new information, but weeks later anyone but Spring reached out saying they were missing documents required weeks ago. This company has also been bought out but failed to tell us or really anyone which is why a lot of customers are being dragged about. They could give a crap less about you and apparently money too. Five months later Spring, you dug your own hole.
  

  Spring EQ LLC

  Date: 10/11/2023

  Ms. M****, I am writing in response to your review of Spring EQ, LLC, in which you express concern about your application for a mortgage loan submitted via Revolution Mortgage. In it, you refer to multiple notices of declination, and express concern with the appraised value of the subject property. Upon review, it appears the loan was declined for incompleteness multiple times before a full application was registered. This process is required to be completed by your brokerage, referenced above. Once the completed application was received, the valuation of the subject property, completed by a third-party licensed appraiser in accordance with USPAP and appraisal independence requirements, appears to have returned a value that was lower than what you may have anticipated. Spring EQ LLC is prohibited from influencing the appraiser’s opinion in any way – the determined value is solely a result of independent analysis of the market, property characteristics, and applicable comparable sales. Spring EQ was able to restructure your loan and issue an approval. We understand your frustration - obtaining mortgage financing can at times prove challenging. In this case, we were able to work through these obstacles and arrive at a viable solution. Spring EQ thanks you for your consideration – please feel free contact us at ************ with any additional questions. Regards, Henry Novak Director of Compliance Spring EQ