Feb
09
2022
Volatile Markets and a Hawkish Fed Have Investors Gobbling Up Dividend Stocks
Investors are pivoting to dividend stocks as a hedge against market uncertainty and a rising interest rate environment.
Read more
SoFi Blog
Tips and news—
for your financial moves.
Feb
08
2022
SoFi Mortgage Loans DR Variation
A home mortgage
built around you.
Turn your dream home into a reality with flexible terms, competitive mortgage rates, and down payments as little as 3%.
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.
View your rate
Won’t affect your credit score.✝
Why SoFi
mortgages?
Perks up
to $9,500.
Get complimentary access to a prescreened local real estate agent through our partnership with HomeStory and receive a $350-$9,500 rebate^.
Low down payments with flexible term options.
Choose from 10-, 15-, 20-, and 30-year fixed terms, with down payments as low as 3%.
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.
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.
Competitive rates.
Don’t overpay on your mortgage—get your dream home or investment property at a great rate.
Close. On. Time.
Guaranteed.
You deserve a more zen mortgage. Our Mortgage Loan Officers are personally dedicated to closing your loan on-time – backed up by a $2,000 guarantee‡.
View your rate
Checking your rate will not affect your credit score.†
“Austin and his team were awesome and easy to work with! Great communication and follow up. Kept us in the loop every step of the way! I would go back to Austin without question.”
“Keith and his team did an outstanding job from day 1. They went above and beyond to facilitate on time closing and funding of our mortgage. The rates we received could not be matched by any other lender.”
“Mark and his team worked very closely with us to make sure that we were comfortable with the process, understood the expectations, timeline and overall schedule.”
300+ Reviews
FAQs
What is a mortgage?
A mortgage loan (or home loan) is a loan to purchase a home or other real estate—without having all the money upfront.
Learn more: Understanding Mortgage Basics
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.
Learn more: What Credit Score Is Needed to Buy a House?
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.
Learn more: How Much Is a Down Payment on a House?
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.
See more FAQs
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.
Feb
04
2022
Property Owners Turn To Unlikely Tenants In Bid To Lease Out Mall Space
Increasingly vacant space in shopping malls is leased out to schools, warehousing companies, and medical centers.
Read moreFeb
04
2022
Facebook’s User Growth Ends After Consistently Increasing for Nearly Two Decades
Facebook’s user base has stopped growing for the first time in history, sparking questions about the social media giant’s future.
Read moreFeb
03
2022
Margin Trading
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Margin Loans
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Invest with flexibility.
Introducing new margin rates as low as 4.75%.
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Margin investing may let you tap into extra investing power by borrowing against your portfolio, with rates from 4.75% to 9.50%, based on your loan size. See rates below.
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Get started now
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Utilizing a margin loan is generally considered more appropriate for experienced investors as there are additional costs and risks associated. It is possible to lose more than your initial investment when using margin. Please see SoFi.com/wealth/assets/documents/brokerage-margin-disclosure-statement.pdf for detailed disclosure information.
{/* — FEATURE GRID (4 COLUMNS) — */}
-
Liquidity
Leverage your portfolio to buy more securities while staying invested.
-
Buying power
Act on investment opportunities based on your risk tolerance and goals.
-
Flexibility
Borrow against your investments for short-term needs, with tiered margin rates based on your loan size.
-
Value
Increase your potential earnings with competitive margin rates.
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Based on SoFi Members | Updated: 6/4/2024
Meet our new tiered margin rates.
As you build your portfolio and add assets with us, you may gain access to lower rates and greater buying power.
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| Margin balance | $0-$50K | $50K-$100K | $100K-$200K | $200K-$500K | $500K-$1M | $1M-$10M | >$10M |
|---|---|---|---|---|---|---|---|
 Margin rates |
9.50% | 8.75% | 8.25% | 7.25% | 6.75% | 5.75% | 4.75% |
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Margin balance |
Margin rates |
|---|---|
| {row.bal} | {row.rate} |
| > $10M | 4.75% |
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Margin investing 101.
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*Interest payment not included‘,
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Why invest on margin?
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Leverage the value of your investments.
You may qualify for competitive, tiered margin rates as low as 5%, so your money works harder for you. Our new rate structure is designed to reward active investors with better value and lower borrowing costs the more you invest. See rate schedule above.
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Amplify your purchasing power, but be aware of amplified risks.
Using margin allows you to purchase securities worth more than the cash value you have in your account, effectively increasing your potential investment exposure. This leverage can provide an opportunity to capitalize on high-conviction ideas or diversify your portfolio without liquidating existing assets.
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Stay flexible with access to liquidity.
You may access funds quickly with no fixed repayment schedule, allowing you to use your portfolio to meet short-term liquidity needs.
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Leverage the value of your investments.
You may qualify for competitive, tiered margin rates as low as 5%, so your money works harder for you. Our new rate structure is designed to reward active investors with better value and lower borrowing costs the more you invest. See rate schedule above.
{/* Item 2 */}
Amplify your purchasing power, but be aware of amplified risks.
Using margin allows you to purchase securities worth more than the cash value you have in your account, effectively increasing your potential investment exposure. This leverage can provide an opportunity to capitalize on high-conviction ideas or diversify your portfolio without liquidating existing assets.
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Stay flexible with access to liquidity.
You may access funds quickly with no fixed repayment schedule, allowing you to use your portfolio to meet short-term liquidity needs.
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Hidden on Desktop.
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Know the risks of margin investing before you begin.
Like all investing, investing on margin comes with some risk. If the value of your investment decreases, you may still owe SoFi the amount you borrowed plus interest. If the value of your investment decreases too much, you may have to add more money or sell your investments to repay the margin loan. This is known as a margin call. Be aware that SoFi can force the immediate sale of your securities without contacting you first to meet a margin call.
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How to open a margin account.
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Open a SoFi Invest account.
The platform makes opening and funding an account easy, and you can do it all on the SoFi app.
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Start investing or transfer assets.
You’ll need to have at least $2,000 in your account before you can start borrowing on margin.
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Complete a questionnaire.
SoFi will either approve or deny you for margin lending, depending on your answers.
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Start buying securities on margin.
Take out margin loans, increase your buying power, and you may experience trading on a new level.
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Get started now
{/* — SECTION 1: ARTICLES & RESOURCES — */}
The hows, the whats, and the whys
of margin investing.
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Frequently asked questions.
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A margin call is triggered when your account equity falls below your margin requirement (thereby creating a negative available margin balance). When notified of a margin call, you will be given a specified deadline to respond and rectify the deficit. This can be accomplished by either adding cash or selling securities. In extreme cases, assets may be liquidated prior to the deadline.
The amount you can borrow depends on a variety of factors including overall account balance, current equity, and the specific securities held in your account. To view the specific figure, navigate to the “Buying Power” section of your margin account.
Interest charges are calculated daily by multiplying the outstanding margin debit balance by the annual interest rate and dividing the result by 360. These daily figures are accrued and automatically charged to the account on a monthly basis.
Your interest due is accrued on a daily basis, and deducted from your account once per month. This happens automatically and does not require you to take any action.
There are a variety of factors used to determine whether a stock is marginable. You can confirm the marginability of a specific stock by looking at the quote page via the SoFi mobile app or website.
There aren’t any fees when opening a SoFi margin account. However, your outstanding margin balance will accrue interest on a monthly basis.
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Yes. Margin can be disabled by navigating to your “Buying Power” page and flipping “Margin investing enabled” to the off position.
Typically, buying stocks on margin won’t affect your credit score. However, your score could be affected when you initially open a margin account.
There are certainly pros and cons when it comes to margin trading in the long term. Generally, if you’re proactive in paying back the money you borrow, margin trading can be a great long-term investing strategy, ideally earning gains greater than your borrowing costs.
There isn’t a minimum borrowing amount per se. However, your purchasing power is based on a variety of factors, such as the securities you hold, account balance, and current equity.
In order to pay off your margin balance, you must repay the full amount borrowed plus interest through your Invest account on the SoFi App.
{/* — FAQ Mobile — */}
Frequently asked questions.
A margin call is triggered when your account equity falls below your margin requirement (thereby creating a negative available margin balance). When notified of a margin call, you will be given a specified deadline to respond and rectify the deficit. This can be accomplished by either adding cash or selling securities. In extreme cases, assets may be liquidated prior to the deadline.
The amount you can borrow depends on a variety of factors including overall account balance, current equity, and the specific securities held in your account. To view the specific figure, navigate to the “Buying Power” section of your margin account.
Interest charges are calculated daily by multiplying the outstanding margin debit balance by the annual interest rate and dividing the result by 360. These daily figures are accrued and automatically charged to the account on a monthly basis.
Your interest due is accrued on a daily basis, and deducted from your account once per month. This happens automatically and does not require you to take any action.
There are a variety of factors used to determine whether a stock is marginable. You can confirm the marginability of a specific stock by looking at the quote page via the SoFi mobile app or website.
There aren’t any fees when opening a SoFi margin account. However, your outstanding margin balance will accrue interest on a monthly basis.
Yes. Margin can be disabled by navigating to your “Buying Power” page and flipping “Margin investing enabled” to the off position.
Typically, buying stocks on margin won’t affect your credit score. However, your score could be affected when you initially open a margin account.
There are certainly pros and cons when it comes to margin trading in the long term. Generally, if you’re proactive in paying back the money you borrow, margin trading can be a great long-term investing strategy, ideally earning gains greater than your borrowing costs.
There isn’t a minimum borrowing amount per se. However, your purchasing power is based on a variety of factors, such as the securities you hold, account balance, and current equity.
In order to pay off your margin balance, you must repay the full amount borrowed plus interest through your Invest account on the SoFi App.
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See how margin investing with SoFi
could offer you more opportunity today.
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Get started now
{/* Disclaimer */}
Utilizing a margin loan is generally considered more appropriate for experienced investors as there are additional costs and risks associated. It is possible to lose more than your initial investment when using margin. Please see SoFi.com/wealth/assets/documents/brokerage-margin-disclosure-statement.pdf for detailed disclosure information.
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