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 fromKelly S

  Date: 04/23/2024

  1 star

  Kelly 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

  1 star

  Keondra 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

  1 star

  Keondra 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

  5 stars

  Sandra 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

  1 star

  John 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

  1 star

  Joy 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

  1 star

  Tammie 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

  1 star

  Bianca 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

• Review fromLori Z.

  Date: 08/31/2023

  1 star

  Lori Z.

  Date: 08/31/2023

  If I could give them 0 stars I would. 21 days is what I was told it will take to close on my loan started in June. Its now 8/31/23 and the gal Britney Rollo who was in charge of my file is no longer working on it. Its been transferred to someone more "communitive" Tim or Tom who I have yet to hear from. Paid $600 for an appraisal which now I'm being told I need a new one. I signed and uploaded all required documents and would follow up to see where we were at in the process then 2 weeks later I would get an email asking for stuff I had uploaded a month prior. They are a joke! Got to love the copy and paste response they put on all the negative reviews too; seriously please don't bother responding to this. I don' care if you want to thank me for sharing my experience, YOU ALL SUCK and it should be illegal for you to drag people out the way you do! Also, if you aim to improve and better understand your clients, hire better agents that respond to them!
  

  Spring EQ LLC

  Date: 09/01/2023

  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. Thank you.

  Lori Z.

  Date: 09/01/2023

  I would love to discuss my file with someone on the management side, please let me know who I should call and their contact info.
  

  Spring EQ LLC

  Date: 09/13/2023

  We are happy to discuss your file in detail with our management team. Unfortunately, we are unable to locate your file with the information provided. Please reach out to us at ****************, so that we may investigate your concern and have our management team reach out to you. Thank you.

• Review fromRebecca J.

  Date: 07/25/2023

  1 star

  Rebecca J.

  Date: 07/25/2023

  Horrible customer service. Does not respond to text or email in a timely manner. Too many folks in charge or thinking they're in charge. Basically let me sit for a month being told I was approved only to tell me I need to fix something on my home in order to get a loan to fix problems! Would not recommend!!
  

  Spring EQ LLC

  Date: 07/26/2023

  Thank you for sharing your experience with us. We appreciate your transparency with the good and bad news. We do apologize that your experience with us fell short of expectations. We aim to use this feedback to better improve our services and understand our client needs. Thank you.