Eligibility Criteria

Student Loan Refinancing Eligibility

Before you apply for SoFi Student Loan Refinancing, we’d like you to be aware of the eligibility criteria. In addition to the information noted below, you must also meet our underwriting criteria to obtain a loan from SoFi.

  • You are at least the age of majority in your state and able to enter into a binding contract.
  • You are a US citizen, permanent resident or visa holder (E-2, E-3, H-1B, J-1, L-1, or O-1) 18 years or older.
  • If you are a permanent resident, you must be able to show an image or scan of your permanent residency card (Green Card), and your Green Card must have a total validity (from issuance to expiry) of more than 2 years. If you are a visa holder, you must be able to show an image or scan of your valid visa and proof of an approved application for a Green Card, including either an I-140 approval notice (Immigrant Petition for Alien Worker), or receipt or approval of an I-485 (Application for application to register permanent Residence).
  • You reside in a state where SoFi Lending Corporation is authorized to lend.
  • You must be employed, have sufficient income from other sources, or have an offer of employment to start within the next 90 days.
  • You have graduated with an associates’ degree or higher from a Title IV school.
  • You are looking to refinance educational debt. Bar loans and residency loans are not eligible for refinancing at this time.

In order to refinance Student Loans, the school they originated from must have been an eligible, accredited Title IV school at the time of matriculation.

Loan eligibility depends on a number of additional factors, including your financial history, credit score, career experience, and monthly income vs. expenses.

State Eligibility:

We offer refinance loans in 50 states plus the District of Columbia.

Minimum loan amount:

$5,000 (may be higher in specific states due to legal requirements)

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Eligibility criteria current as of 1/15/19

Medical Resident Student Loan Refinancing Eligibility

Am I eligible for a SoFi Medical Resident Refinance loan?

  • You are a medical/dental resident or fellow with up to four years left in your approved program.
  • You are a US citizen or permanent resident, 18 years or older. If you are a permanent resident, you have more than 2 years until your status expires, or you have filed an extension.
  • You have over $10k in private or federal student loan debt. The minimum amount may be higher in certain states due to legal requirements.
  • You have graduated with an MD, DO, DMD, or DDS from a selection of Title IV accredited university or graduate programs in the U.S.
  • Dental residents only: You must provide documentation that proves you are not taking on additional tuition liabilities. Proof may be provided in the form of full scholarships or receipt of direct payment from the official bursar for all remaining terms.
  • You meet SoFi’s underwriting criteria. Loan eligibility depends on a number of additional factors, including your financial history, credit score, career experience, and monthly income vs. expenses.

State Eligibility:

We offer medical resident refinance loans in 48 states. Residents of Mississippi and Montana are not eligible for a medical resident refinance loan at this time. Pennsylvania minimum loan amount $25,001. Connecticut and Kentucky minimum loan amount of $15,001.

Minimum loan amount:

$10,001 (may be higher in specific states due to legal requirements)

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Eligibility criteria current as of 1/15/19

Undergraduate Student Loans Eligibility

Before you apply for a SoFi Undergraduate Loan, we’d like you to be aware of the eligibility criteria. In addition to the information noted below, you must also meet our underwriting criteria to obtain a loan from SoFi.

Borrowers:

  • Borrowers must be the age of majority in their state of residence, otherwise an age of majority cosigner is required.
  • Borrowers must be US citizens.
  • Borrowers must reside in a state where SoFi Lending Corporation is authorized to lend.
  • Borrowers must be employed or have sufficient income from other sources (either borrower or cosigner).
  • Borrowers must use the loan for Qualified Higher Education Expenses at an Eligible Institution.
  • Borrowers must be enrolled at least half-time in a degree granting program at an Eligible Institution.
  • Borrowers must be making Satisfactory Academic Progress (SAP), which is certified by the school the borrower is attending.
  • Cosigners:

    • Cosigners must be the age of majority in their state of residence.
    • Cosigners must be US citizens.
    • Loan eligibility depends on a number of additional factors, including your financial history, credit score, career experience, and monthly income vs. expenses.

    State Eligibility:

    We offer Undergraduate Student loans in 50 states plus the District of Columbia.

    Minimum loan amount:

    $5,000 (may be higher in specific states due to legal requirements)

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    Eligibility criteria current as of 4/4/19

    Graduate Student Loans Eligibility

    Before you apply for a SoFi Graduate Student Loan, we’d like you to be aware of the eligibility criteria. In addition to the information noted below, you must also meet our underwriting criteria to obtain a loan from SoFi.

    Borrowers:

    • Borrowers must be the age of majority in their state of residence, otherwise an age of majority cosigner is required.
    • Borrowers must be US citizens.
    • Either the borrower, or the cosigner, must be employed or have sufficient income from other sources.
    • Borrowers must use the loan for Qualified Higher Education Expenses at an Eligible Institution.
    • Borrowers must be enrolled at least half-time in a degree granting program at an Eligible Institution.
    • Cosigners:

      • Cosigners must be the age of majority in their state of residence.
      • Cosigners must be US citizens.
      • Loan eligibility depends on a number of additional factors, including your financial history, credit score, career experience, and monthly income vs. expenses.

      State Eligibility:

      We offer Graduate Student loans in 50 states plus the District of Columbia.

      Minimum loan amount:

      $5,000 (may be higher in specific states due to legal requirements)

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      Eligibility criteria current as of 6/1/19

      Parent Student Loans Eligibility

      Before you apply for a SoFi Parent Student Loan, we’d like you to be aware of the eligibility criteria. In addition to the information noted below, you must also meet our underwriting criteria to obtain a loan from SoFi.

      Borrowers:

      • Borrowers must be the age of majority in their state of residence.
      • Borrowers must be US citizens.
      • Borrower must be employed or have sufficient income from other sources.
      • Borrowers must use the loan for Qualified Higher Education Expenses at an Eligible Institution.
      • Borrowers are not required to be the legal guardian of the student to apply for the Parent Student Loan.
      • Borrowers must be enrolled at least half-time in a degree granting program at an Eligible Institution.
      • Students:

        • Students must be enrolled at least half-time in a degree granting program at an Eligible Institution.
        • Loan eligibility depends on a number of additional factors, including your financial history, credit score, career experience, and monthly income vs. expenses.

        State Eligibility:

        We offer Parent Student loans in 50 states plus the District of Columbia.

        Minimum loan amount:

        $5,000 (may be higher in specific states due to legal requirements)

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        Eligibility criteria current as of 7/1/19

        Personal Loan Eligibility

        Before you apply for a SoFi Personal Loan, we’d like you to be aware of the eligibility criteria. In addition to the information noted below, you must also meet our underwriting criteria to obtain a loan from SoFi.

        • You are a US citizen, permanent resident or visa holder (E-2, E-3, H-1B, J-1, L-1, or O-1) 18 years or older.
        • If you are a permanent resident, you must be able to show an image or scan of your permanent residency card (Green Card), and your Green Card must have a total validity (from issuance to expiry) of more than 2 years. If you are a visa holder, you must be able to show an image or scan of your valid visa and proof of an approved application for a Green Card, including either an I-140 approval notice (Immigrant Petition for Alien Worker), or receipt or approval of an I-485 (Application for application to register permanent Residence).
        • You reside in a state where SoFi Lending Corporation is authorized to lend.
        • You are at least the age of majority in your state.
        • You must be employed, have sufficient income from other sources, or have an offer of employment to start within the next 90 days.

        Loan eligibility depends on a number of additional factors, including your financial history, credit score, career experience, and monthly income vs. expenses.

        For applicants with one or more existing SoFi personal loans, the applicant must have made at least three payments, as well as the most recent three payments on-time (not late), on each loan in order to be considered eligible for an additional personal loan. Note that Michigan residents can only have one SoFi Personal Loan at any given time.

        State Eligibility:

        SoFi Personal Loans are not available to residents of MS. Minimum loan requirements might be higher than $5,000 in specific states due to legal requirements. Fixed and variable-rate caps may be lower in some states due to legal requirements and may impact your eligibility to qualify for a SoFi loan.

        See state license information here.

        Minimum loan amount:

        Personal loans have a minimum loan amount of $5,000 and maximum of $100,000. Minimum loan amount may be higher in specific states due to legal requirements.

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        Eligibility criteria current as of 3/13/19

        Mortgage Eligibility

        Before you apply for a SoFi mortgage or mortgage refinancing, we’d like you to be aware of the eligibility criteria. In addition to the information noted below, you must also meet our underwriting criteria to obtain a home loan from SoFi. Loan eligibility depends on a number of additional factors, including your credit score and credit history, monthly income and expenses, assets, and employment status and history.

        • You are at least the age of majority in your state
        • You (or any co-borrower or co-signer) are a U.S citizen, or an eligible permanent resident alien or non-permanent resident alien. Other restrictions and eligibility criteria apply to resident alien applicants and non-permanent resident alien applicants
        • You are not financing an investment property
        • You are purchasing or refinancing a primary residence or second home in AL, AZ, CA, CO, CT, DE, DC, FL, GA, ID, IL, IN, MD, MI, MN, MT, NJ, NC, ND, OR, PA, RI, SC, TN, TX, UT, VA, VT, WA, WI or WY
        • The property you are purchasing or refinancing will be your primary residence or second home for at least 12 months

        SoFi Lending Corp. does not originate mortgage loans in Alaska, Arkansas, Hawaii, Iowa, Kansas, Kentucky, Louisiana, Maine, Massachusetts, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Mexico, New York, Ohio, Oklahoma, South Dakota, or West Virginia.

        SoFi Lending Corp. Mortgage State Licensing Details

        SoFi Lending Corp. is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580.

        SoFi Lending Corp. is currently able to issue and refinance mortgages in the following states:

        Alabama

        Consumer Credit License No. 21983

        Arizona

        SoFi Lending Corp., 1035 W. Queen Creek Rd Ste 101 Chandler, AZ 85248, Mortgage Banker License #BK-0934275;

        California

        Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612/NMLS # 1121636

        Colorado

        Mortgage Company Registration License: 1121636

        Connecticut

        Licensed by the Connecticut Department of Banking – Mortgage Lender License # ML-1121636

        Delaware

        Delaware Lender License # 30278

        District of Columbia

        Mortgage Dual (Lender & Broker) Authority License No. MLB 1121636

        Florida

        Mortgage Lender Servicer License # MLD1108

        Georgia

        Georgia Mortgage Lender License No. 42010

        Idaho

        Mortgage Broker/Lender License: MBL-8673

        Illinois

        Illinois Residential Mortgage Licensee License No. MB.6761063 Department of Financial and Professional Regulation Division of Banking 100 West Randolph, 9th Floor Chicago, IL 60601 General Inquiry Inquiries: 1-888-473-4858 Division of Banking Direct: 1-844-768-1713 TYY: 1-866-325-4949

        Indiana

        First Lien Mortgage Lending License No. 25660

        Maryland

        Maryland Mortgage Lender License # 21585

        Michigan

        Michigan 1st Mortgage Broker/Lender Registrant FR0020980

        Minnesota

        Residential Mortgage Originator License # MN-MO-1121636

        Montana

        Licensed by the Montana Division of Banking and Financial institutions, Montana Mortgage Lender License # 1121636

        New Hampshire

        Licensed by the New Hampshire Banking Department Mortgage Banker # 19764-MB

        New Jersey

        Licensed by the New Jersey Department of Banking and Insurance Residential Mortgage Lender License 1121636

        North Carolina

        Mortgage Lender License No. L-160812

        North Dakota

        Money Broker License No. MB102764

        Oregon

        Oregon Mortgage Lending License # ML-5418

        Pennsylvania

        Licensed by the Pennsylvania Department of Banking Mortgage Lender License No. 46311

        Rhode Island

        Rhode Island Lender License # 20153065LL

        South Carolina

        Licensed by the South Carolina State Board of Financial Institutions, Lender/Servicer License # MLS – 1121636

        Licensed by the South Carolina State Board of Financial Institutions, Lender/Servicer License-Other Trade Name # MLS – 1121636 OTN #1

        Tennessee

        Tennessee Mortgage Lending License # 127518

        Texas

        License # 1121636. Consumers wishing to file a complaint against a mortgage company or a licensed mortgage company residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department’s website at WWW.SML.TEXAS.GOV. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage company residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at WWW.SML.TEXAS.GOV. The department maintains the mortgage broker recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult Subchapter F of the Mortgage Broker License Act on the department’s web at WWW.SML.TEXAS.GOV. SoFi Lending Corp. maintains a physical branch office location at 7700 Windrose Avenue, Suite 105, Plano, Texas 75024.

        Utah

        Licensed by the Utah Department of Real Estate, Utah-DRE mortgage Entity License # 10293902.
        Licensed by the Utah Department of Real Estate, Utah-DRE Mortgage Entity License-Other Trade Name #1 #9223125.
        Utah-DRE Mortgage Branch Office # 10293918

        Vermont

        Licensed by the Vermont Banking Division – Lender License # 6705

        Virginia

        Licensed by the Virginia Bureau of Financial Institutions – Lender License # MC-5906; NMLS ID 1121636. (www.nmlsconsumeraccess.org ). Notice for refinancing customers: as a result of refinancing, the total finance charge over the life of the loan may be higher.

        Washington

        Consumer Loan Company License CL-1121636

        Wisconsin

        Mortgage Banker License 1121636BA

        Wyoming

        Wyoming Mortgage Lender License # 2659

        SoFi Mortgage LLC (NMLS# 1484615) State Licensing Details

        SoFi Mortgage, LLC, a SoFi Lending Corp. affiliate, is a Delaware Limited Liability Company headquartered at 6175 Main Street, Suite 490, Frisco, TX 75034 (855) 738-3718. Company NMLS #1484615 (www.nmlsconsumeraccess.org). SoFi Mortgage, LLC policy is to treat all applicants and borrowers in a fair and consistent manner and without regard to race, color, religion, national origin, age (provided the applicant or borrower has legal capacity to enter into a binding contract), sex, marital status, disability, familial status, receipt of public assistance, or exercise of rights under the Consumer Credit Protection Act, or any other prohibited basis identified under state law. Products and terms may vary from those advertised on this site.

        SoFi Mortgage, LLC is currently able to issue and refinance mortgages in the following states:

        Alabama

        State Banking Department Consumer Credit License # 22320

        Arizona

        Department of Financial Institutions Mortgage Banker License # 939107

        Arkansas

        Arkansas Securities Department Combination Mortgage Banker-Broker-Servicer License # 109652

        Colorado

        Division of Real Estate Mortgage Company Registration

        Connecticut

        Department of Banking Mortgage Lender License # ML-1484615

        Delaware

        Office of the State Bank Commissioner Lender License #2342

        District of Columbia

        Department of Insurance, Securities and Banking Mortgage Dual Authority License # MLB1484615

        Florida

        Office of Financial Regulation Mortgage Lender Servicer License # MLD1425

        Georgia

        Georgia Department of Banking and Finance Mortgage Lender License # 53319

        Illinois

        Department of Financial and Professional Regulation Residential Mortgage License # MB.6761214

        Regulated by the Illinois Department of Financial and Professional Regulation
        Division of Banking
        320 W. Washington Street
        Springfield, IL 62786
        217-782-300

        Indiana

        Department of Financial Institutions First Lien Mortgage Lending License # 32610

        Indiana

        Department of Financial Institutions Mortgage Lending License # 32609

        Iowa

        Division of Banking Mortgage Banker License # 2016-0097

        Kansas

        Office of the State Bank Commissioner Mortgage Company License # MC.0025449

        Kentucky

        Department of Financial Institutions Mortgage Company License # MC370600

        Louisiana

        Louisiana Office of Financial Institutions Residential Mortgage Lending License

        Maryland

        Commisioner of Financial Regulation Mortgage Lender License

        Maine

        Department of Professional and Financial Regulation Supervised Lender License # 1484615

        Michigan

        Office of Financial and Insurance Services 1st Mortgage Broker/Lender/Servicer License # FL0020723

        Michigan

        Office of Financial and Insurance Services 2nd Mortgage Broker/Lender/Servicer Registrant # SR0020724

        Minnesota

        Department of Commerce Residential Mortgage Originator License # MN-MO-1484615

        Mississippi

        Department of Banking and Consumer Finance Mortgage Lender License # 1484615

        Montana

        Division of Banking and Financial Institutions Mortgage Broker License # 1484615

        Nebraska

        Department of Banking and Finance Mortgage Banker License

        New Hampshire

        New Hampshire Banker License

        New Mexico

        Department of Regulation and Licensing Mortgage Loan Company License

        North Carolina

        Commissioner of Banks Mortgage Lender License # L‐171408

        North Dakota

        Department of Financial Institutions Money Broker License # MB103053

        New Jersey

        New Jersey Department of Banking and Insurance Residential Mortgage Lender License

        Oklahoma

        Department of Consumer Credit Mortgage Lender License # ML011168

        Oregon

        Department of Consumer and Business Services Mortgage Lending License # ML-5501

        Mortgage Servicer License, License # MS-62

        Pennsylvania

        Department of Banking Mortgage Lender License # 59391

        Rhode Island

        Division of Banking Lender License

        Division of Banking Loan Broker License

        South Dakota

        Division of Banking Mortgage Lender License # ML.05153

        Tennessee

        Department of Financial Institutions Mortgage License # 130773

        Texas

        Department of Savings and Mortgage Lending Mortgage Company License

        Consumers wishing to file a complaint against a mortgage banker or a licensed mortgage banker residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.

        Utah

        DRE Mortgage Entity License

        License # 1484615

        Vermont

        Lender License

        Mortgage Broker License

        Washington

        Department of Financial Institutions Consumer Loan Company License # CL – 1484615

        Wisconsin

        Department of Financial Institutions Mortgage Banker License # 1484615BA

        Wyoming

        Division of Banking Mortgage Lender/Broker License # 2930

        If you don’t see your state listed here, please let us know you are interested so that we can contact you as we expand our mortgage program.

        Email us or call 844-763-4466

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        Eligibility criteria current as of 7/15/19

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