Yes, for the majority of transactions a property appraisal is required with the exception of those that are eligible for a Fannie Mae Property Inspection Waiver.

San Francisco, CA  April 2, 2015 – SoFi, a leading marketplace lender, today announced it has surpassed $2 billion in loans since its launch in the Fall of 2011.  SoFi was the first lender to refinance both Federal and private student loans, and today is the largest provider of student loan refinancing.  To celebrate this milestone, SoFi is launching #2BillionTogether to pay off one member’s SoFi refinanced student loan this quarter, with similar events slated for upcoming quarters.

To participate in #2BillionTogether, SoFi members who have refinanced their student loans are asked to share how refinancing with SoFi has impacted their life and how a student loan payoff would impact their plans moving forward.  Applications will be accepted starting on April 2, 2015 at sofi.com.  The deadline for entries is June 1, 2015.  Finalists will be announced by SoFi in mid-June and the SoFi community and public will vote on the winner, which will be announced on July 1, 2015.

“We’re thankful to our members for making SoFi the leader in student loan refinancing and for helping pave our way in new products such as mortgages and personal loans,” said Mike Cagney, SoFi CEO.  “We’re excited to give back to the SoFi community through this loan payoff program and get the word out to the millions of student loan borrowers who deserve a better loan than the one they have today.”

SoFi has pioneered transformative lending solutions for early stage professionals, including:

• The most comprehensive student loan refinancing program today, open to all accredited four-year schools. A wide range of fixed and variable rates, rate caps and no pre-payment penalties.
• Innovative mortgages that provide real rate quotes to qualified applicants in under one minute online and on mobile devices via SoFi.com.[1]
• A flexible personal loan program for balances up to $100,000 that includes an online application, great rates and no origination fees.[2]
• Extensive member benefits, including unemployment protection for student and personal loan borrowers, career support, the SoFi Members Network, and the SoFi Entrepreneur Program. To date, SoFi has helped nearly 70 members secure new jobs and admitted more than 30 into its Entrepreneur Program.

About SoFi

SoFi is a leader in marketplace lending and the largest provider of student loan refinancing, with over $2 billion dollars in loans funded. We’re transforming financial services for early stage professionals with student loan refinancing, mortgages, personal loans, and MBA loans.  Unlike traditional lenders, our proprietary underwriting approach takes into account merit and employment history to offer unique credit products our members won’t find elsewhere.  We offer individual and institutional investors the ability to create positive social impact on the communities they care about while earning compelling rates of return.  For more information, visit SoFi.com.

[1] For more information on SoFi mortgages, visit sofi.com/mortgage.  All loans funded by SoFi Lending Corp. NMLS # 1121636.

2 For more information on personal loan eligibility, visit sofi.com/personal loan

For press inquiries: Debra Jack [email protected] [email protected] 415-706-5012

With the average student loan debt burden on the rise, it’s little wonder that loans often hold people back from pursuing their entrepreneurial goals. At SoFi, we’ve heard these stories time and again – friends, classmates and SoFi members who dream of starting their own businesses, but who feel trapped in a traditional job because they need to make that loan payment each month.

A Direct Consolidation Loan is a government program that allows you to combine multiple federal education loans into a single loan.  The resulting interest rate is a weighted average of your prior loan rates.  Refer to https://www.sofi.com/consolidate-student-loans-vs-refinance/ for more information.