SoFi Blog

NEW! Get a portion of your real estate agent’s commission ($350 to $9,500) when you use an agent in the HomeStory network. Learn more.

Click to learn more about HomeStory and their privacy policy.

Received a mailer from us?
Enter confirmation #

Preparing for a mortgage loan.

Buying a home can be stressful. Here are a few things to consider when navigating your mortgage loan.

View your rate

300+ Reviews

See all reviews →

Learn more about buying a home.

Got questions about your mortgage loan? Mortgage insurance? FHA loans? Here are a few resources to help.

Choose the mortgage loan

that’s right for you:

Select from a variety of home loan options with mortgage rates and monthly payments that work for your budget.

All APRs are updated daily

Explore options

Need help finding the best option for your unique needs? Get in touch with a Mortgage Loan Officer at (833)-408-7634.

FAQs

See more FAQs

Apply online or call for a complimentary
mortgage consultation.

Just call (833)-408-7634 to get in touch with our Mortgage Loan Officers. Ready to jump in? Pre-qualify in minutes online.

Get pre-qualified

¹ 30-YEAR Payment Example: The payment for a 30-year term, loan amount $362000.00, Rate 6.125%, LTV 80% is $2200.00 for full Principal and Interest Payments with $4695.14 due at closing. The Annual Percentage Rate is 6.335%. 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.

² 20-YEAR Payment Example: The payment for a 20-year term, loan amount $362000.00, Rate 5.990%, LTV 80% is $2591.00 for full Principal and Interest Payments with $4952.16 due at closing. The Annual Percentage Rate is 6.276%. 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.

³ 15-YEAR Payment Example: The payment for a 15-year term, loan amount $362000.00, Rate 5.250%, LTV 80% is $2910.00 for full Principal and Interest Payments with $5187.46 due at closing. The Annual Percentage Rate is 5.612%. 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.

⁴ 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 $5364.84 due at closing. The Annual Percentage Rate is 5.778%. 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.

NO PURCHASE NECESSARY TO ENTER OR WIN.

The SoFi at Work: Game Day at SoFi Stadium Sweepstakes (the “Sweepstakes”) begins at 12:00:01 AM Eastern Time (“ET”) on September 1, 2022 and ends at 11:59:59 PM ET on November 1, 2022 (the “Sweepstakes Entry Period”).

ELIGIBILITY: To be eligible for this Sweepstakes, at the time of participation, Sweepstakes is solely opened to employees or members of SoFi at Work partners who at time of entry are: a) 18 years of age or older; and b) are legal residents of and physically located within the 50 United States or the District of Columbia (collectively, the “Entrant”); and c) employee/member of SoFi at Work partner who has accepted the invitation to participate in the Sweepstakes. For the purposes of these Official Rules, a SoFi at Work partner is defined as: employers and associations that are on SoFi’s current partner list (each, a “SoFi Partner”). Click on https://www.SoFi.com/SoFi-at-Work for details. Entrant cannot be: (i) a current employee (or have been employed within the last twelve months) of Social Finance, LLC (the “Sponsor”), its parent, or any subsidiary, affiliated or successor companies or Ventura Associates International LLC (the “Administrator”), or any advertising, promotional or fulfillment agencies involved in this Sweepstakes or any other individual or company involved in the development or execution of the Sweepstakes (individually and collectively, “Sweepstakes Entities”); or (ii) a Household Member or Immediate Family Member of anyone falling within category (i). “Household Members” shall mean people who share the same residence at least three months a year whether or not related. “Immediate Family Members” shall mean parents, stepparents, children, stepchildren, siblings, stepsiblings, or spouses.

HOW TO ENTER: An Entrant will automatically receive one (1) entry in the Sweepstakes random drawing when Entrant completes the Task promoted in conjunction with the Sweepstakes. Tasks can be, but not limited to the following examples:

● Check your student loan rate.

Sponsor reserves the right, to (a) award additional entries for any given Task at various times throughout the Sweepstakes Entry Period; and (b) incorporate additional Tasks (if offered) throughout the Entry Period. Use of any automated, robotic, or similar methods or agents to participate in the Sweepstakes is prohibited and will result in disqualification. Mechanically reproduced Entries will be disqualified along with all Entries associated with the disqualified Entry or Entries. Sponsor is not responsible for lost, late, garbled, damaged, illegible, incomplete, inaccurate, or misdirected entries. All Entries submitted become property of the Sponsor, receipt of which will not be acknowledged.

WINNER SELECTION AND NOTIFICATION: Potential winner (“Winner”) will be selected via a random drawing on or about November 4, 2022 by the Administrator whose decisions are final and binding. Winner will be notified by email within three (3) business days after the random drawing by the Administrator and will be required to: (a) execute and return an Affidavit of Eligibility & Release of Liability, and where permissible, a Publicity Release (collectively the “Affidavit”), and (b) complete and submit a W-9 Form (collectively, “Winner Verification Documents”) within five (5) days of the date specified on the email notification, or an alternate Winner may be selected at Sponsor’s sole discretion. If winner is an eligible minor in his/her state of residence, a parent or legal guardian will be required to complete and return all required documents on minor’s behalf. If an email notification is returned as undeliverable, or if Winner fails to submit his or her complete Winner Verification Documents within the time allocated, or if Winner cannot accept the prize for any reason, or if he or she is not in compliance with these Official Rules, Winner will be disqualified, and the prize may be awarded to an alternate Winner at the Sponsor’s sole discretion.

PRIZE DETAILS: One (1) Grand Prize will be awarded. Winner will receive two (2) tickets to the Rams versus Seahawks NFL Game at SoFi Stadium (1001 Stadium Dr, Inglewood, CA 90301) on Sunday, December 4, plus a $2,500 travel stipend. Approximate retail value (“ARV”) of Grand Prize: $5,000. Grand Prize winner must accept prize in its entirety or forfeit all rights to prize. Prize does not include any form of transportation to/from concert, hotel or lodging accommodations, meals or any other incidentals or expenses, all of which are Winner’s sole responsibility. Travel stipend is for winner’s use to purchase/secure air (or ground) travel and hotel accommodations in Los Angeles. Travel stipend will be awarded as a corporate check. Upon fulfilling Prize, the Sponsor will be deemed to have fulfilled the prize.

Winner and guest will be provided more details on prize, including the game’s commencement time, when she or he is notified by Sponsor or its agent. If a Winner is deemed an eligible minor, a parent or legal guardian must accompany Winner as his or her guest. Prize is non-assignable or transferable and cannot be substituted with another prize. All prize details are at the Sponsor’s sole discretion. Game tickets will not be replaced if lost or stolen, and cannot be resold, offered for resale, or used for any commercial or promotional purpose whatsoever.

Winner and his or her guest agree to comply with all applicable venue regulations in connection with the prize. The venue reserves the right to remove or to deny entry to the winner and/or any guest who engage in a non-sportsmanlike or disruptive manner or with intent to annoy, abuse, threaten, or harass any other person at the concert. The Sponsor will not be responsible for weather conditions; acts of God; acts of terrorism; civil disturbances; local, state, or federal regulation, order, or policy; work stoppage; epidemic, pandemic, or any other issue concerning public health or safety; or any other event outside of their control that may cause the cancellation or postponement of, or the restriction of the game. Admission to venue is subject to all rules, requirements, and policies, including, without limitation, all security, conduct, and safety and health requirements and policies, put in place by venue, including requirements relating to face masks and enhanced health screenings (which may include a requirement that ticket holders be tested for COVID-19 prior to or during the game or provide proof of full vaccination against COVID-19 prior to attending the concert) as they may be updated from time to time. The winner and guest must also comply with all applicable laws, policies, orders, protocols, and guidelines issued by federal, state, and local authorities respecting COVID-19 and other communicable diseases, and concert attendance is conditioned on such compliance.

Winner acknowledges that the game is beyond the control of the Sponsor and is subject to being rescheduled, modified, or canceled. In the eventuality the game is postponed or canceled, no compensation or substitution will be provided, and the Sponsor shall have no further obligation to the Winner other than to supply the $2,500 travel stipend minus the game tickets. Winner and guest are responsible for obtaining proper documentation (i.e., valid photo ID, proof of vaccination, etc.), prior to travel. Guest must be 18 or older and will be required to execute and return a Liability/Publicity Release prior to travel. Except where prohibited by law, entry and acceptance of prize constitute permission for Sponsor and its agents to use Winner’s name, prize won, hometown, likeness, video tape, photographs, and statements for purposes of advertising, promotion, and publicity (including online posting) in all media now or hereafter known throughout the world in perpetuity, without additional compensation, notification, or permission. Furthermore, Sponsor and/or its agents may film, record and/or take photographs of the winner and guest before/during/after the concert, and may use the resulting footage, recordings, or photographs for a range of purposes, including, without limitation, for marketing and promoting Sponsor and/or its promotion partners/agents and their respective products and services. No additional compensation will be provided for any resulting footage.

ODDS: Odds of winning are dependent on the total number of eligible Entries received during the Sweepstakes Entry Period.

CONSENT AND RELEASE: To the fullest extent possible in law, Entrants, on behalf of themselves and on behalf of their respective heirs, executors, administrators, legal representatives, successors and assigns (“Releasing Parties”), release, defend and hold harmless the Sweepstakes Entities (the “Released Parties”) from any and all actions, causes of action, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, lost profits, indirect or direct damages, consequential damages, incidental damages, punitive or exemplary damages, judgments, extent, executions, claims and demands whatsoever, in law, admiralty or equity, whether known or unknown, foreseen or unforeseen, against Released Parties which any one or more of the Releasing Parties ever had, now have or hereafter can, shall or may have which in any way arise out of or result from Entrant’s participation, acceptance and use or misuse of prize (if Entrant is determined the Winner). The Sponsor is not responsible for any typographical or other error in the printing of the offer, administration of the Sweepstakes or in the announcement of prize. In the event Sponsor is prevented from continuing with the Sweepstakes as contemplated herein by any event beyond its control, or otherwise, including but not limited to fire, flood, earthquake, pandemic, explosion, labor dispute or strike, act of God or public enemy, satellite or equipment failure, riot or civil disturbance, terrorist threat or activity, war (declared or undeclared) or any federal, state, or local government law, order, or regulation, or order of any court, or other cause, Sponsor shall have the right to modify, suspend or terminate the Sweepstakes. Furthermore, the Sponsor reserves the right to terminate the Sweepstakes if it becomes technically corrupted (including if a computer virus or system malfunction inalterably impairs its ability to conduct the Sweepstakes), and to determine the Winner from among all eligible Entries received prior to termination. Entrants assume all liability for any injury, including death or damage caused or claimed to be caused, by participation in this Sweepstakes or use or redemption of the prize (if Entrant is determined to be the Winner).

ARBITRATION: This Sweepstakes shall be governed by and interpreted under the laws of the State of California, U.S.A. without regard to conflicts of law provisions. Entrants hereby agrees that any and all disputes, claims, causes of action, or controversies (“Claims”) arising out of or in connection with this Sweepstakes shall be resolved, upon the election by Entrant or Sponsor, by arbitration pursuant to this provision and the code of procedures of either the National Arbitration Forum (“NAF”) or the American Arbitration Association (“AAA”), as mutually agreed upon by both parties. IF ARBITRATION IS CHOSEN BY ANY PARTY WITH RESPECT TO A CLAIM, NEITHER PARTY WILL HAVE THE RIGHT TO LITIGATE THAT CLAIM IN COURT OR HAVE A JURY TRIAL ON THAT CLAIM. FURTHER, NEITHER SPONSOR NOR ENTRANT WILL HAVE THE RIGHT TO PARTICIPATE IN A REPRESENTATIVE CAPACITY ON BEHALF OF THE GENERAL PUBLIC OR OTHER PERSONS SIMILARLY SITUATED, OR AS A MEMBER OF ANY CLASS OF CLAIMANTS PERTAINING TO ANY CLAIM SUBJECT TO ARBITRATION. EXCEPT AS SET FORTH BELOW, THE ARBITRATOR’S DECISION WILL BE FINAL AND BINDING. NOTE THAT OTHER RIGHTS THAT ENTRANT WOULD HAVE IF ENTRANT WENT TO COURT ALSO MAY NOT BE AVAILABLE IN ARBITRATION. ANY CLAIMS, JUDGMENTS AND/OR AWARDS SHALL BE LIMITED TO ACTUAL OUT-OF-POCKET COSTS ASSOCIATED WITH ENTERING THIS SWEEPSTAKES. ENTRANT HEREBY WAIVES ANY RIGHTS OR CLAIMS TO ATTORNEY’S FEES, INDIRECT, SPECIAL, PUNITIVE, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ENTRANT, WHETHER FORESEEABLE OR NOT AND WHETHER BASED ON NEGLIGENCE OR OTHERWISE. The arbitrator’s authority to resolve Claims is limited to Claims between Sponsor and Entrant alone, and the arbitrator’s authority to make awards is limited to awards to Sponsor and Entrant alone. Furthermore, claims brought by either party against the other may not be joined or consolidated in arbitration with Claims brought by or against any third party, unless agreed to in writing by all parties. No arbitration award or decision will have any preclusive effect as to issues or claims in any dispute with anyone who is not a named party to the arbitration.

By participating in this Sweepstakes, each Entrant expressly waives and relinquishes all rights and benefits afforded by California Civil Code 1542 and does so understanding and acknowledging the significance of this waiver. Section 1542 states as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DID NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN, BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR THE RELEASED PARTIES.”

GENERAL: Each Entrant is subject to all notices posted online, including but not limited to Sponsor’s privacy policy as being referred to in the Personal Information & Privacy Section hereof. In the event of a dispute as to any Entry, the authorized account holder of the email address used to register such Entry will be deemed to be the Entrant. The “authorized account holder” is the natural person assigned an email address by an Internet access provider, online service provider or other organization responsible for assigning email addresses for the domain associated with the submitted address. Winner may be required to show proof of being the authorized account holder to be determined exclusively by the Sponsor’s and/or its agent in their sole discretion.

The Sponsor is not responsible for (i) error, omission, interruption, deletion, defect, delay in operations or transmission, theft or destruction or unauthorized access to or alterations of Entry materials, or for technical, network, telephone equipment, electronic, computer, hardware or software malfunctions of any kind, or inaccurate transmission of or failure to receive Entry information by Sponsor on account of technical problems or traffic congestion on the Internet or at any website or any combination thereof; (ii) any injury or damage to Entrant’s or any other person’s computer related to or resulting from participating in the Sweepstakes; or (iii) the failure of any third party to comply with the instructions and proper administration of this Sweepstakes. By participating in the Sweepstakes, Entrants (i) agree to be bound by these Official Rules, including all eligibility requirements, and (ii) agree to be bound by the decisions of Sponsor and the Administrator, which are final and binding in all matters relating to the Sweepstakes. Sponsor reserves the right at its sole discretion to disqualify any individual that tampers or attempts to tamper with the entry process or the operation of the Sweepstakes or web site or violates these Official Rules. LEGAL WARNING: ANY ATTEMPT BY AN INDIVIDUAL, WHETHER OR NOT AN ENTRANT, TO DELIBERATELY INTERFERE WITH THE OPERATION OF THE SWEEPSTAKES, IS A VIOLATION OF CRIMINAL & CIVIL LAWS AND SPONSOR RESERVES THE RIGHT TO SEEK DAMAGES AND DILIGENTLY PURSUE ALL REMEDIES AGAINST ANY SUCH INDIVIDUAL TO THE FULLEST EXTENT PERMITTED BY LAW.

WINNERS LIST: For the name of the Winner (available after November 9, 2022) send a stamped, self-addressed envelope (postage not required for Vermont residents) for receipt by November 9, 2022 to: SoFi at Work Game Day at SoFi Stadium Sweepstakes Winner’s Name, c/o Social Finance, LLC, 234 1st Street (Attn: SoFi at Work), San Francisco, CA 94105.

PERSONAL INFORMATION & PRIVACY: By entering the Sweepstakes, the information Entrants provide may be sent to promotional partners. Entrants may be contacted by the Sponsor and/or any promotional partners with future promotional offers. Information provided by Entrants to participate in this Sweepstakes is subject to Sponsor’s privacy policy located at www.SoFi.com/privacy-policy.

SPONSOR: Social Finance, LLC, 234 1st Street, San Francisco, CA 94105.

Read more

Interest rates are on the rise, driving up mortgage costs, and home prices remain elevated. Here’s how to prep if you can’t buy now.

If you’re in the market for an EV, now might be the right time to buy, before new legislation goes into effect.

Get your money, members: SoFi Checking & Savings is raising the APY for all members. Members with direct deposit will now earn 2.50% APY¹ on their balances, 62 times² the current national average. For members without direct deposit, all balances will now earn 1.20%, 30 times³ the national average.

SoFi allows all members to earn interest on both their checking and savings balances, making sure you get the absolute most for your hard-earned money. With nearly half of SoFi members reporting feeling stressed over their finances recently⁴, as well as spending on average 10-20% more due to inflation, SoFi’s new rate is designed to help make putting more money in your pocket as easy and stress-free as possible.

Even better, SoFi is offering some more ways to get more for your money right now:

•   Earn $250 for just signing up or adding direct deposit⁵: SoFi is also offering a $250 cash bonus for new members who sign up and set up qualifying direct deposits—or existing members who set up qualifying direct deposits before September 30, 2022.

•   Earn up to 3% cashback on the SoFi Credit Card⁶: Members that open a new SoFi Credit Card and also have Checking and Savings account with a qualifying direct deposit or existing credit card members who set up a new direct deposit to SoFi Checking & Savings for the first time can start earning 3% cash back on all eligible credit card purchases for 365 days. Apply for a credit card here.⁷

Interested in earning more? Sign up for SoFi Checking & Savings. Already a member? Set up your SoFi direct deposit to make sure you get the most out of your money.

¹SoFi members with direct deposit can earn up to 2.50% annual percentage yield (APY) on all account balances in their Checking and Savings accounts (including Vaults). There is no minimum direct deposit amount required to qualify for 2.50% APY. Members without direct deposit will earn 1.20% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. Rate of 2.50% APY is current as of 09/30/2022. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Participants: All new members who apply and get approved for the SoFi Credit Card, open a SoFi Checking and Savings account, and set up Direct Deposit transactions (“Direct Deposit”) into their SoFi Checking and Savings account during the promotion period are eligible. All existing SoFi Credit Card members who set up Direct Deposit into a SoFi Checking & Savings account during the promotion period are eligible. All existing SoFi members who have already enrolled in Direct Deposit into a SoFi Checking & Savings account prior to the promotion period, and who apply and get approved for a SoFi Credit Card during the promotion period are eligible. Existing SoFi members who already have the SoFi Credit Card and previously set up Direct Deposit through SoFi Money or SoFi Checking & Savings are not eligible for this promotion.

⁷Accounts subject to additional credit approval. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS PROSPECTIVELY BASED ON MARKET CONDITIONS AND BORROWER ELIGIBILITY. Your eligibility for a SoFi Credit Card Account or a subsequently offered product or service is subject to the final determination by SoFi Bank, N.A. pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Please allow up to 30 days from date of submission to process your application. The card offer referenced in this communication is only available to individuals who are at least 18 years of age (or of legal age in your state of residence), and who reside in the United States.