9 To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
Terms, conditions, and state restrictions apply. Before you apply for a SoFi Mortgage, please note that not all products are offered in all states, and all loans are subject to eligibility restrictions and limitations, including requirements related to loan applicant’s credit, income, property, and loan amount. SoFi Mortgages may be available for primary or second home residences or investment properties. Lowest rates are reserved for the most creditworthy borrowers. Products, rates, benefits, terms, and conditions are subject to change without notice.Learn more at SoFi.com/eligibility. Information current as of 6/28/23.
SoFi Mortgages originated through SoFi Bank, N.A., NMLS #696891 (Member FDIC), (www.nmlsconsumeraccess.org). Equal Housing Lender. SoFi Bank, N.A. is currently able to issue and refinance mortgages in all states except purchase only for New York.
1 No Admin Fee Refi: Obtain a SoFi Mortgage for the purchase of a home and SoFi will waive its administrative fee when you refinance. Based on regulatory requirements, the name of this fee may vary in certain states. Eligibility conditions: (1) You must close your new purchase mortgage by June 30, 2024; and (2) at the time of refinancing, the current market interest rate must be at least 1% less than the interest rate of the original loan; and (3) To redeem this offer, you must request waiver of the administrative fee at the time you apply for the refinancing loan and prior to locking your rate. This offer is limited to 1 refinance transaction per person. Refinance transaction must occur by December 31, 2024. SoFi reserves the right to change or end this offer at any time.
2 Terms and conditions apply. Offer is applicable for all mortgage applications received from 7/24/23 to 9/30/23. Offer is subject to lender approval. Cannot be combined with any other fee waiver offer. SoFi reserves the right to change or terminate this offer at any time with or without notice.
Lock and Look program: Terms and conditions apply. Applies to conventional purchase loans only. Rate will lock for 90 calendar days at the time of preapproval. Credit card information to maintain the lock must be received within 7 calendar days of preapproval, or the lock will be forfeited. If you have not submitted a fully executed purchase contract within 60 days of your initial rate lock, you will be charged 0.25% of the loan amount. When you close with SoFi, the 0.25% fee will be credited back to you at the time of closing.
If you submit a fully executed purchase contract within 30 days of the initial rate lock, SoFi will automatically reduce the interest rate by an additional 0.125% at no cost. If current market pricing improves by 0.75 percentage points or more from the original locked rate, you may request your loan officer to review your loan application to determine if you qualify for an additional rate reduction. SoFi reserves the right to change or terminate this offer at any time with or without notice to you.
‡ SoFi On-Time Close Guarantee:
‡ SoFi On-Time Close Guarantee:If all conditions of the Guarantee are met, and your loan does not close on or before the closing date on your purchase contract accepted by SoFi, and the delay is due to SoFi, SoFi will give you a credit toward closing costs or additional expenses caused by the delay in closing of up to $5,000.* The following terms and conditions apply. This Guarantee is available only for loan applications submitted after 6/30/23. Please discuss terms of this Guarantee with your loan officer. The mortgage must be a purchase transaction that is approved and funded by SoFi. This Guarantee does not apply to loans to purchase bank-owned properties or short-sale transactions. To qualify for the Guarantee, you must: (1) Sign up for access to SoFi’s online portal and upload all requested documents, (2) Submit documents requested by SoFi within 5 business days of the initial request and all additional doc requests within 2 business days (3) Submit an executed purchase contract on an eligible property with the closing date at least 25 calendar days from the receipt of executed Intent to Proceed and receipt of credit card deposit for an appraisal (30 days for VA loans; 40 days for Jumbo loans), (4) Lock your loan rate and satisfy all loan requirements and conditions at least 5 business days prior to your closing date as confirmed with your loan officer, and (5) Pay for and schedule an appraisal within 48 hours of the appraiser first contacting you by phone or email. This Guarantee will not be paid if any delays to closing are attributable to: a) the borrower(s), a third party, the seller or any other factors outside of SoFi control; b) if the information provided by the borrower(s) on the loan application could not be verified or was inaccurate or insufficient; c) attempting to fulfill federal/state regulatory requirements and/or agency guidelines; d) or the closing date is missed due to acts of God outside the control of SoFi. SoFi may change or terminate this offer at any time without notice to you. *To redeem the Guarantee if conditions met, see documentation provided by loan officer.
* Special Pricing: Available only on 30-year conforming purchase transactions. Rates can vary and are not guaranteed until locked. When you lock in your rate, the purchase loan special pricing will be reflected in the rate you are provided. SoFi reserves the right to change or terminate this offer at any time with or without notice to you.
All information in the primary residence payment examples listed above — including interest rates, payments, terms, and availability — is for informational purposes only and is subject to change without notice.
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CNBC Select makes its selection, which you can see here, based on their own methodology.
Preapproval Letter: Terms apply. See conditional preapproval letter for details. Not a final loan approval and not a commitment to lend.