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 (J-1, H-1B, E-2, O-1, or TN) 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. If you are a visa holder, you have at least 2 years remaining until your status expires, or you have filed for a renewal or an application for permanent residency.
• 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, 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 8/19/18

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.

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 3/29/18

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 (J-1, H-1B, E-2, O-1, or TN) 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. If you are a visa holder, you have at least 2 years remaining until your status expires, or you have filed for a renewal or an application for permanent residency.
• 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, 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. Maximum interest rate on loans for residents of AK and WY is 9.99% APR, for residents of IL with loans over $40,000 is 8.99% APR, for residents of TX is 9.99% APR on terms greater than 5 years, for residents of CO, CT, HI, VA, SC is 11.99% APR, and for residents of ME is 12.24% APR. Personal loans not available to residents of MI who already have a student loan with SoFi. Personal Loans minimum loan amount is $5,000. Residents of AZ, MA, and NH have a minimum loan amount of $10,001. Residents of KY have a minimum loan amount of $15,001. Residents of PA have a minimum loan amount of $25,001. Variable rates not available to residents of AK, TX, VA, WY, or for residents of IL for loans greater than $40,000.

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 11/8/18

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 history, income 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, 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, Michigan, 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

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 7/25/18