Spring EQ, a leading provider of home equity financing solutions, has announced the addition of Fixed Rate Home Equity Line of Credit (HELOC) products to its range of offerings. This new product will provide homeowners with the flexibility of a HELOC, along with the reliability of a fixed rate and payment.
The Fixed-Rate HELOC will come with 15-, 20- or 30-year terms, and will be available across all of Spring EQ’s business units, including retail, partner, and TPO broker. It is set to launch in the Correspondent channel in the near future.
Spring EQ’s Chief Executive Officer, Jerry Schiano, expressed excitement about the new product, stating that it is innovative and will be well-received by homeowners. Executive Chairman Joe Steffa added that the Fixed-Rate HELOC will allow Spring EQ to offer another solution to a wider range of homeowners, especially in the current rate environment with record levels of equity available.
As one of the fastest-growing non-bank home equity lenders in the nation, Spring EQ aims to differentiate itself by offering a comprehensive suite of products, including Variable Rate HELOCs with multiple draw periods, and Fixed-Rate Home Equity Loans with terms ranging from 5 to 30 years. These financing solutions are available for primary homes, secondary homes, and investment properties, extending eligibility to self-employed property owners.
To learn more about Spring EQ and their range of home equity products, visit their website at http://www.springeq.com. For press inquiries, contact Marilyn Ioannidis at mioannidis@springeq.com or 610-680-6431.
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