A mortgage loan (or home loan) is a loan to purchase a home or other real estate—without having all the money upfront.

What are the different types of mortgage loans?

There are a variety of different mortgage loan options with different interest rates, terms, and protections. Fixed-rate mortgages have the same rate throughout the life of the loan, whereas adjustable-rate mortgages have interest rates that can fluctuate after an initial fixed-rate period of months to years. Federal Housing Administration (FHA) loans are loans issued by mortgage lenders on behalf of the government and are insured by the FHA. Learn more about different types of mortgage loans and their unique benefits here.

How much do I qualify for?

You can begin to figure out the right mortgage loan for you by evaluating your down payment, interest rate, credit score, and monthly payments. This Mortgage Calculator can help you get started.

What are the current mortgage rates?

Interest rates can vary and are subject to change. Our Mortgage Calculator can help you find a rate that works for you. You can also reach out to a Mortgage Loan Officer to discuss your needs.

How can I get the lowest mortgage rate?

Your mortgage loan’s interest rate is affected by your credit score, down payment, and the amount of your mortgage loan, among other factors. Our Mortgage Calculator can help you get a better look at your options.

How does my credit score affect my home mortgage interest rate?

Your credit score will weigh heavily in whether you qualify for a conventional or FHA mortgage loan and the interest rate on that loan. This article breaks down how your credit score can affect your interest rate, monthly payments, and mortgage loan options.

What is the minimum down payment on a home?

Mortgage lenders have traditionally asked borrowers to pay at least 20% of a home’s purchase price as a down payment. However, this is changing. Your credit score, type of mortgage loan, and purchase price can all affect how much you’re required to put down. This article breaks down these factors and can help you determine how much you should put down.

Do I need to get a home appraisal before getting a mortgage loan?

A home appraisal is an objective and professional analysis of a home’s value. An appraisal consists of information like the floor plan, amenities, and size, as well as a visual inspection, real estate trends in the area, and the value of homes near yours. Before applying for mortgage loan refinancing, listing your house on the market, or buying a home, you’ll need to get a home appraisal.

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Dec

27

2022

SoFi Mortgage Loans | Painless Pre-Qualification [$1k Bonus]

By Erik Carlson | 1_Web_ML | Comments Off

Home Mortgage Loans

Save more with an exclusive $1,000 bonus on your mortgage.¹

✓ $1,000 bonus in SoFi Checking and Savings.¹

✓ Close on-time, guaranteed.^‡
✓ Lock your rate for up to 90 days.²

View your rate

Won’t affect your credit score.^✝

Ranking methodology.

See terms.

Why SoFi

mortgages?

Where are you in the home buying process?

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.³

Flexible loan options.

Choose from 10-,15-,20-,30-year fixed terms^4-7

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 5% for all other borrowers.

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?

Get pre-qualified

⁴ 30-YEAR Payment Example: The payment for a 30-year term, loan amount $362000.00, Rate 5.875%, LTV 80% is $2141.00 for full Principal and Interest Payments with $5828.20 due at closing. The Annual Percentage Rate is 6.112%. 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.

⁵ 20-YEAR Payment Example: The payment for a 20-year term, loan amount $362000.00, Rate 5.750%, LTV 80% is $2542.00 for full Principal and Interest Payments with $5849.92 due at closing. The Annual Percentage Rate is 6.065%. 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 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 $5144.02 due at closing. The Annual Percentage Rate is 5.484%. 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 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 $5172.98 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.

Dec

19

2022

Personal Loans | 2023 New Years Campaign [non-discount]

By Erik Carlson | 1_Web_PL | Comments Off

Personal LOANS

Take out a personal loan.
Advance a bajillion spaces.

Let’s play 2023! No matter what space you land on, you can always use a SoFi Personal Loan with a fixed rate and no fees on $5K-$100K.

View your rate

BTW it’s a soft inquiry, so it won’t affect your credit score.^†

How to get a SoFi Personal Loan:

It’s easy to obtain your very own SoFi Personal Loan online—your ticket around the board in 2023. You’re up!

Pre-qualify

Find the rate that you qualify for in 60 seconds with no commitment.

Complete your application

When you’re ready, complete your online loan application with help from SoFi loan consultants.

Receive your funds.

Sign your documents and funds will be wired to your account—as soon as the same day.*

View your rate

(without impacting your credit score)^†

Compared to credit cards, our fixed-rate personal loan is an ace.

See how a SoFi Personal Loan could help you save thousands on interest compared to high-interest credit cards—so you can win, no matter how this year plays out.

Personal Loan

Balance

$33,097

Interest Rate

13.56% APR*

Monthly payment

$762

5-year interest paid

$12,658

High-interest rate credit card

Balance

$33,097

Interest Rate

21.20% APR

Monthly payment

$899

5-year interest paid

$20,849

Estimated savings with SoFi

$8,191

See your savings

Example chart shows calculations based on a 5 year SoFi Personal Loan with a fixed rate of 13.56% APR, which is the rounded average median funded APR for SoFi Personal Loan borrowers who took out a loan with a 5 year term” from November 1 2021- November 1 2022. Lowest rates are reserved for the most qualified borrowers. The ‘High-Interest Rate Credit-Card’ APR shown is the average credit card APR reported by Wallethub for Q3 2022 under their Good Credit category. The savings estimate also assumes that the borrower doesn’t take out any additional credit card debt during the same period. Both calculations assume 60 total monthly payments and no pre-payment amounts.

It’s your move.

Start by viewing your rate on a personal loan—it only takes a literal minute.

View your rate

(without impacting your credit score)^†

✝ To check the rates and terms you 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 and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2021 was around $33k. Information current as of 2/6/26. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility-criteria for details and state restrictions.

Personal Loan Rates and Terms: Fixed rates from 7.74% APR to 35.49% APR reflect the 0.25% autopay discount. SoFi rate ranges are current as of 5/20/22 and are subject to change based on market conditions and borrower eligibility. Interest-rate caps may be lower in some states due to legal requirements and may impact your eligibility to qualify for a SoFi loan. Minimum loan requirements might be higher than $5,000 and interest-rate caps may be lower in some states due to legal requirements and may impact your eligibility to qualify for a SoFi loan. The average of SoFi Personal Loans funded in 2021 was around $33k. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors.

Subject to receipt of required documentation, underwriting guidelines, and processing time by your institution. Loans for amounts over $20,000 may require additional underwriting review time. Funds are disbursed via ACH as soon as the next business day after approval and acceptance of terms.

The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.

PERSONAL LOAN INTEREST RATES AND FEES | ELIGIBILITY AND IMPORTANT DETAILS. Annual percentage rates (APRs) shown include the 0.25% autopay discount. If approved for a loan, the rates and terms offered will depend on things like creditworthiness, the length of the loan, and other factors, and will fall within the range of rates available by applicable loan term; check out our full APR examples and terms. Remember, not all applicants will qualify for the lowest rate. Want to learn more? See our eligibility criteria at SoFi.com/eligibility-criteria. SoFi reserves the right to change interest rates at any time without notice, changes would only apply to applications begun after the effective date of the change. Fixed Rates: Fixed rates range from 7.74% APR to 35.49% APR (with autopay). The SoFi 0.25% autopay interest rate reduction requires you to agree to make your scheduled monthly payments by an automatic monthly deduction (ACH) from a savings or checking account. Enrolling in autopay is not required to receive a loan from SoFi. Loan Terms: SoFi Personal Loans offer loans with a period of repayment between 2 and 7-year terms. Loan Fees: SoFi personal loans have no fees; specifically, no origination fees, no late fees, no prepayment penalties.

PERSONAL LOAN | REPAYMENT EXAMPLE. The following example depicts the APR, monthly payment and total payments during the life of a $30,000 personal loan with a 2-year repayment term, a 0.25% autopay discount, and a fixed rate between 7.74% APR to 35.49% APR. It works out to 24 monthly payments ranging from $1,353.26–$1,763.32 for a total amount of payments ranging from $32,478.34–$42,319.74. This repayment example assumes that the borrower is signed up for autopay and that all payments are made on time, with no pre-payments. Actual rates may vary based on repayment term, loan amount, creditworthiness, and other terms and conditions. SoFi does not offer variable rate personal loans. State restrictions may apply.

* Same-Day Personal Loan Funding: 86% of typical SoFi Personal Loan applications, excluding Direct Pay Personal Loans and Personal Loan refinance, from January 1, 2021 to December 1, 2021 that were signed before 7pm ET on a business day were funded the same day.

Dec

19

2022

Personal Loans | 2023 New Years Campaign [LCM]

By Erik Carlson | 1_Web_PL | Comments Off

Personal LOANS

Take out a personal loan.
Advance a bajillion spaces.

Let’s play 2023! No matter what space you land on, you can always use a SoFi Personal Loan with a fixed rate and no fees on $5K-$100K, plus a 0.50% rate discount‡ when you apply by 2/8/23 to pay for just about anything—planned or unplanned—all around the board.