Spring EQ CEO Joe Steffa Talks Home Equity, Growth, and What’s Ahead

Spring EQ CEO Joe Steffa recently sat down with HousingWire’s Allison LaForgia in Las Vegas to discuss the company’s vision, the state of the home equity market, and what lies ahead for both lenders and borrowers.  

 Putting Homeowners at the Center 

When asked about his vision for Spring EQ, Steffa explained that it all begins with the homeowner. “The vision starts with the homeowner and thinking about what they need today and how we can help them tap into their home’s equity safely and strategically,” he said.  

 Steffa emphasized that Spring EQ’s focus extends beyond borrowers to include broker partners and third-party vendors, ensuring the company meets the needs of every customer and partner along their journey.  

 The Rise of Home Equity Utilization 

With home prices skyrocketing since 2020, homeowners are sitting on record levels of equity, and more are choosing to use it. According to Steffa, the top three reasons borrowers tap into their home equity are: 

1. Debt consolidation

2. Replenishing savings 

3. Home improvements  

 “The average age of homes in the U.S. is around 40 years old,” Steffa said. “People are investing in upgrades and renovations to improve their quality of life and increase home value. And home equity is the tool making that possible.” 

 Spring EQ’s Growth and What’s Next 

Spring EQ’s growth trajectory has been impressive. The company has scaled from $1.7 billion in 2023 to an expected $4+ billion this year. Looking ahead, Steffa shared plans for continued expansion and new product offerings.  

 Spring EQ has already begun piloting a non-QM program featuring DSCR and plans to launch a bank statement program in early 2026, both of which will continue to keep Spring EQ a leader in the industry.  

 As Spring EQ continues to grow, one thing remains clear: the company’s focus on partnership, innovation, and responsible lending is driving meaningful results for homeowners and partners alike.