Mar
02
2023
February 2023 Market Lookback
Everything is topsy-turvy after a blowout jobs report. Here’s the inside scoop on how things played out in February.
Read more
SoFi Blog
Tips and news—
for your financial moves.
Feb
16
2023
Mortgage | $500 Rate Lock | SoFi
Lock your rate now and qualify for a $500 bonus.
✓ Lock your rate now and qualify for a $500 bonus.
✓ Exclusive $500 cash bonus in a SoFi account after your loan funds.^
✓ Save now when you buy* and later when you refi1
✓ Close on-time, guaranteed.‡
View your rate
Checking your rate will not affect your credit score.†
Received a mailer from us?
Enter confirmation #
Why SoFi
mortgages?
Buy now, save when you refi.
Save now with a 0.25% pricing special* on 30-year terms, and we’ll help you save again when you refinance by waiving our admin fee.1
Flexible loan options
✓ Choose from 10-, 15-, 20-, and 30-year fixed terms5-8
Simple online application. One-on-one help.
Buying a home shouldn’t be so painful–our online application is simple, and we have dedicated Mortgage Loan Officers to guide you through the process from start to finish.
Low down payment options
Down payments as low as 3% for first-time borrowers, or as low as 5% for all other borrowers.
3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to all other borrowers. For conforming home loans with a loan-to-value (LTV) ratio greater than 80%, SoFi requires PMI. Private Mortgage Insurance (PMI) is an insurance that protects lenders in the event of loan default.
5 30-YEAR Payment Example: The payment for a 30-year term, loan amount $362000.00, Rate 6.000%, LTV 80% is $2170.00 for full Principal and Interest Payments with $5802.86 due at closing. The Annual Percentage Rate is 6.238%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.
6 20-YEAR Payment Example: The payment for a 20-year term, loan amount $362000.00, Rate 5.875%, LTV 80% is $2567.00 for full Principal and Interest Payments with $5915.08 due at closing. The Annual Percentage Rate is 6.194%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.
7 15-YEAR Payment Example: The payment for a 15-year term, loan amount $362000.00, Rate 5.125%, LTV 80% is $2886.00 for full Principal and Interest Payments with $5781.14 due at closing. The Annual Percentage Rate is 5.512%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.
8 10-YEAR Payment Example: The payment for a 10-year term, loan amount $362000.00, Rate 5.250%, LTV 80% is $3884.00 for full Principal and Interest Payments with $5180.22 due at closing. The Annual Percentage Rate is 5.766%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.
Feb
10
2023
Relay Affiliates V2
View your free credit score and more.
Getting your money right starts with your credit score. WIth free credit score monitoring, you can track your
score and earn rewards points every time it goes up five points or more.*
Get started – 100% free
Must click on the link to be eligible. Other terms & conditions apply.**
Improve your Financial Health by Improving your Credit Health
SoFi is loaded with free features that make it easy to know where you stand, what you spend and how to hit our financial goals – all in one app.
Get started – 100% free
Must click on the link to be eligible. Other terms & conditions apply.**
Simulate Credit Scenarios
Determine how certain financial descisions might impact your score.
Weekly Score Updates
Track your credit score at no cost, with weekly updates to help you stay on top of any changes.
Get Actionable Credit Insights
Understand the factors that drive your credit score and what you can do to influence them.
Get Financial Advice from a SoFi Specialist
Access SoFi Member Benefits like complimentary personalized advice from a CERTIFIED FINANCIAL
PLANNER™ for no additional cost.
The power of your credit score lies ahead.
Understand what impacts your score.
Get 24/7 access to your credit score for free. Plus monitor and keep up to date on any changes impacting your score.
Powered by TransUnion.
Get your VantageScore 3.0 credit score, a model developed by all three national credit reporting companies.
Won’t affect your score
We only do a “soft” pull on your credit. Check your score as often as you want -it won’t hurt your score, and it’s at no cost to you.
We’re serious about security.
-
24/7 account monitoring
Get started – 100% free
Must click on the link to be eligible. Other terms & conditions apply.**
Jan
17
2023
Sam AW Refinance Template Rate Bonus 1
Limited time, exclusive offer! Refinance your student loans‡ and you could save thousands—plus get an additional 0.25% rate discount.^
Fixed interest rates start at just 3.99% APR (with autopay* and your SoFi at Work rate discount^). Use this page to get started. Hurry—0.25% rate discount offer ends 3/31/24.
View your rate
BTW it’s a soft inquiry, so it won’t affect your credit score.†
Don’t miss out! Refinance now before rates go up.
Choose from low fixed or variable rates.
Why SoFi?
View your rate
Serious savings
Save thousands of dollars thanks to flexible terms and low fixed or variable rates.
Fast, easy, and all online
Simple online application and access to live customer support 7 days a week.
No fees, no catch
No application or origination fees. No pre-payment penalties.
Access to member benefits
SoFi members get financial advice and more—all at no cost.
We know student loans.
$47 billion+
in refinanced student loans
550,000+
members have refinanced their student loans
98%
of surveyed members would recommend SoFi to a friend 3
How it works
Get pre-qualified online.
We’ll let you know if you’re qualified before you complete the full application.
Select your rate and term.
Choose between saving on your monthly payment or saving on total student loan interest.
Get your new loan.
Upload screenshots of your information, then sign your paperwork electronically. Then we’ll pay off your servicer(s) and issue you one new student loan.
View your rate
FAQs
Who should refinance?
Refinancing is a great solution for working graduates who have high-interest, unsubsidized Direct Loans, Graduate PLUS loans, and/or private loans. Federal loans do carry some special benefits, for example, public service forgiveness and economic hardship programs, that may not be accessible to you after you refinance. Check out this blog post that provide more information: When to Consolidate Federal and Private Loans by Refinancing. Or, call us for a free consultation about your particular situation.
Can I refinance both federal and private student loans?
Yes, SoFi will consolidate all qualified education loans.
Am I a good candidate to refinance my student loans with SoFi?
SoFi aims to revolutionize financial services—ultimately improving the system for everyone. Today, we’re able to offer significant savings and flexibility to US citizens or permanent residents who have graduated from a selection of Title IV accredited university or graduate programs, are employed, has a sufficient income from other sources, or hold a job offer with a start date within 90 days, have a responsible financial history, and a strong monthly cash flow.
What is the difference between consolidating and refinancing?
Student loan consolidation is when you combine multiple loans into one single loan. Student loan refinancing, on the other hand, is when you get a new loan at a new interest rate and/or a new term. You can refinance both federal and private loans. Learn more about student loan consolidation vs refinancing.
What’s the difference between fixed and variable rate loans?
Fixed rate loans are loans that have an interest rate that does not change over the life of a loan, which means you pay the same amount each month. It also means you know with certainty the total interest that you’ll pay over the life of the loan. Fixed rate is a general term that can apply to different types of loans with a variety of uses, including student loans, mortgages, auto loans, and unsecured personal loans.
Variable rate loans are loans that have an interest rate that will fluctuate over time in line with prevailing interest rates. They generally have lower starting interest rates than fixed-rate loans, but the interest rate and payment amounts can change over time. Sometimes they are also known as floating-rate loans.
Find more info on Fixed vs. Variable Rate Loans.
Where can I find more information about student loans in general?
Deciding how to best handle your student loan obligations can be an intimidating process. That’s why we’ve put together our Student Loan Help Center to give you guidance on payments, refinancing, budgeting, and common terminology so you can feel more confident in your journey to becoming debt free.
See all FAQs
More student loan refi resources
View your rate in just two minutes.
View your rate
Read more
Jan
17
2023
Sam AW Refinance Template 3
Limited time, exclusive offer! Refinance your student loans‡ and you could save
thousands—plus get a $2000 welcome bonus.^
Fixed interest rates start at just 4.24% APR (with autopay)* plus
get additional bonuses through SoFi at Work. Use this page to
get started. Hurry—welcome bonus offer ends 3/31/24.
View your rate
BTW it’s a soft inquiry, so it won’t affect your credit score.†
Don’t miss out! Refinance now before rates go up.
Choose from low fixed or variable rates.
Why SoFi?
View your rate
Serious savings
Save thousands of dollars thanks to flexible terms and low fixed or variable rates.
Fast, easy, and all online
Simple online application and access to live customer support 7 days a week.
No fees, no catch
No application or origination fees. No pre-payment penalties.
Access to member benefits
SoFi members get financial advice and more—all at no cost.
We know student loans.
$47 billion+
in refinanced student loans
550,000+
members have refinanced their student loans
98%
of surveyed members would recommend SoFi to a friend 3
How it works
Get pre-qualified online.
We’ll let you know if you’re qualified before you complete the full application.
Select your rate and term.
Choose between saving on your monthly payment or saving on total student loan interest.
Get your new loan.
Upload screenshots of your information, then sign your paperwork electronically. Then we’ll pay off your servicer(s) and issue you one new student loan.
View your rate
FAQs
Who should refinance?
Refinancing is a great solution for working graduates who have high-interest, unsubsidized Direct Loans, Graduate PLUS loans, and/or private loans. Federal loans do carry some special benefits, for example, public service forgiveness and economic hardship programs, that may not be accessible to you after you refinance. Check out this blog post that provide more information: When to Consolidate Federal and Private Loans by Refinancing. Or, call us for a free consultation about your particular situation.
Can I refinance both federal and private student loans?
Yes, SoFi will consolidate all qualified education loans.
Am I a good candidate to refinance my student loans with SoFi?
SoFi aims to revolutionize financial services—ultimately improving the system for everyone. Today, we’re able to offer significant savings and flexibility to US citizens or permanent residents who have graduated from a selection of Title IV accredited university or graduate programs, are employed, has a sufficient income from other sources, or hold a job offer with a start date within 90 days, have a responsible financial history, and a strong monthly cash flow.
What is the difference between consolidating and refinancing?
Student loan consolidation is when you combine multiple loans into one single loan. Student loan refinancing, on the other hand, is when you get a new loan at a new interest rate and/or a new term. You can refinance both federal and private loans. Learn more about student loan consolidation vs refinancing.
What’s the difference between fixed and variable rate loans?
Fixed rate loans are loans that have an interest rate that does not change over the life of a loan, which means you pay the same amount each month. It also means you know with certainty the total interest that you’ll pay over the life of the loan. Fixed rate is a general term that can apply to different types of loans with a variety of uses, including student loans, mortgages, auto loans, and unsecured personal loans.
Variable rate loans are loans that have an interest rate that will fluctuate over time in line with prevailing interest rates. They generally have lower starting interest rates than fixed-rate loans, but the interest rate and payment amounts can change over time. Sometimes they are also known as floating-rate loans.
Find more info on Fixed vs. Variable Rate Loans.
Where can I find more information about student loans in general?
Deciding how to best handle your student loan obligations can be an intimidating process. That’s why we’ve put together our Student Loan Help Center to give you guidance on payments, refinancing, budgeting, and common terminology so you can feel more confident in your journey to becoming debt free.
See all FAQs
More student loan refi resources
View your rate in just two minutes.
View your rate
Read more
Stay up to date on the latest business news and stock market happenings.