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The math may change, however, if you think a tax preparer can increase your bottom line, save you time or help you avoid mistakes. And there’s clearly a draw with both options, since last year, 56% of all electronic federal tax returns were filed by tax preparers, and 44% were submitted by the taxpayers themselves.
So how do you decide? Here are a few considerations to help you choose the option that’s best for you.
How complicated are your finances?
A lot depends on how complicated your filing is. Tax software can do a lot, but not everything. Take TurboTax. It’s one of the most well-known tax filing software programs, but it has an 18-page list of limitations. So you may want a tax preparer’s help if you have:
• Income from lots of different sources
• Complicated investments
• Rental property
• Your own business
• Reason to file state tax returns in multiple states
How worried are you about making mistakes?
You may want a professional if you just don’t feel comfortable enough with your tax literacy. The U.S. tax code — famous for its complexity — has grown by 47% since 1994 and is now over 4 million words long! And 25% of U.S. adults fear they’ll make a mistake on their tax return, including 33% of Generation Z, according to an online survey commissioned by CNET in February.
Now, your tax return can have errors whether you use a tax preparer or software, but software is only as good as the information you give it, of course. And an honest mistake can still lead to IRS interest charges or even penalties in some cases.
A qualified tax preparer, on the other hand, may give you peace of mind that you’re filing correctly. And many tax preparation chains will offer extra protections for an additional fee. This can include representing you before the IRS if there’s an issue. Just keep in mind that you are legally responsible for everything listed on your tax return even if you follow a professional’s advice.
Research shows taxpayers often start using a tax preparer when they have a change in circumstances because they know those can affect your taxes. So if you’ve gotten married, had a child, bought or sold a house, or had another big life change, you might want to have someone walk you through how to adapt — at least the first time.
How much time do you have?
There’s no getting around it: It’s a hassle doing your taxes. And whether you use a professional or not, you have to track down documents. But depending on your situation, using a tax preparer can potentially save you time.
The tax world doesn’t stop when the clock strikes midnight on April 15. A tax professional can be a resource on retirement planning, long-term care insurance, wills, or investment strategies.
They can also potentially advise you on things like structuring a business and bookkeeping. If you’re using one anyway, you may find that it makes sense to have them prepare your returns.
When is tax software free?
Depending on your income, where you live, and the complexity of your tax situation, you may be able to file with software help at no cost. Here are the two main options:
• Use the IRS’s new Direct File option, which is open to people living in these 25 states. You can’t use it if you have income from gig work, a rental property or a business, though, so check here to make sure you’re eligible first.
• Use IRS Free File, which is available to residents of any state, as long as you didn’t earn more than $84,000 in adjusted gross income last year. Choose from one of the IRS’s eight Free File partners using this comparison tool.
How do you choose a tax preparer?
If you decide to use a professional, make sure they are qualified. The National Taxpayer’s Advocate and the IRS have resources (here and here) to help you choose wisely.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
By Al Lewis |
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Comments Off on The Upside of a Down Market
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If you’re an investor, watching your retirement savings or investment portfolio lose value can be pretty unsettling. But it’s vital to remember that losses aren’t realized until you sell or trade — and that a downturn opens up potential opportunities, too.
It’s been a tough few weeks for the U.S. stock market, with the S&P 500 Index briefly falling into correction territory on fears of an economic downturn. But the market has generally gone up rather than down over the long run. If you believe it will bounce back again, there are plenty of ways to take advantage of potential bargains.
“Ups and downs are part of the deal,” Mark Fonville, Certified Financial Planner® and president of Covenant Wealth Advisors, wrote in an online post updated earlier this month. “Markets aren’t stable or steady over the short term, but they tend to perform consistently well over the long term.”
Depending on your risk tolerance, here are some possible ways to capitalize on a down market:
Buying the dip: When there’s an overall market downturn, your favorite stocks are essentially on sale. If you believe in the long-term prospects of a company, you could potentially make money by buying and holding shares of that company when prices are lower.
Similarly, if you’re invested in broad-based index funds, you might benefit from a recovery. Analysts at Goldman Sachs said last week they don’t expect a recession and would “use a deepening drawdown to ‘buy the dip,’” Seeking Alpha reported.
One word of caution, though: There’s no way to anticipate the bottom, so it’s possible stock prices could fall further before they rise again.
Dollar-cost averaging: If you’re a long-term investor making fixed and regular contributions to a retirement account, you’re doing what’s known as dollar-cost averaging. When the market is falling, you’re making the same investments but at lower prices, setting yourself up for future gains if the value of your investments increase.
Dividend reinvestment: If you’ve chosen to reinvest your dividends in your investment accounts, you’re getting more stock for the money in a market decline. And, for the same reason, it could be a good time to consider buying additional dividend-paying stocks.
Tax-loss harvesting: There are often more tax-loss harvesting opportunities in a down market. By selling investments that have lost value since you bought them, you can offset gains on investments that have increased in value and potentially lower your overall tax liability.
Roth IRA conversions: Investors convert traditional Individual Retirement Accounts or 401(k) plans to Roth IRAs to set themselves up for tax-free growth and withdrawals in the future, when, ideally, they will be in a higher-income tax bracket. Since conversions require paying tax on the accounts now, converting when the value of the account is lower can potentially reduce the amount of tax owed.
So what? Investing always comes with risk. But downturns present opportunities for investors who believe in the long-term growth prospects of the stock market. According to Covenant’s Fonville, despite all the corrections and crashes over the past century, a single dollar invested in 1926 in the S&P 500 predecessor grew to be worth about $17,000 as of last month.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
By Derek Stratton |
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Comments Off on International Student Bank Account
Bank Accounts for International Students
How to open a U.S. bank account as an international student.
If you’re an international student, opening a bank account in the U.S. can smooth your transition to university and make it easier to manage tuition and rent payments, as well as day-to-day expenses. Having a domestic account can also help keep your money secure and eliminate foreign transaction fees. Here’s how to open an international student bank account with SoFi.
Open an account
What you need to get started.
To open an international student bank account, you’ll need to be at least age 18 and provide specific documents to verify your identity and address. We’ll ask you for:
Identification
You’ll need to present a photo ID, such as a valid passport or government-issued ID.
Proof of address
You’ll also need to show proof of your U.S. address, which may be your dorm room or off-campus apartment. For this, you can use a student ID with an address and photo, a utility bill, lease agreement, or letter from the university documenting the address.
Tax identification number
To be eligible for a student account, you’ll need to provide a tax ID number, such as a U.S. Individual Taxpayer Identification Number (ITIN) issued by the Internal Revenue Servicer (IRS).
Apply for a U.S. bank account in 3 steps:
In general, there are several different types of U.S. bank accounts that international students might apply for, such as the individual and joint accounts that SoFi offers (we don’t currently offer business or trust accounts). Here, you’ll learn the basic steps for applying for a SoFi Checking and Savings account when you are an international student.
Gather the required documents
Make sure you have your photo ID, proof of address, and other required documents. Double-check that all documents are valid and up-to-date to avoid any delays in the application process.
Open the account online
You can apply for a SoFi Checking and Savings account as an international student online. You’ll simply need to create a log-in, fill out an application form, and submit scanned copies of your documents.
Make a deposit
Once your account is approved, you can make an initial deposit via online transfer or wire. Additionally, you can also deposit cash into your student account at participating retailers using your SoFi debit card (note that a fee may be charged).
Open an account
Benefits of opening a U.S. bank account.
Here’s how a U.S. bank account can provide financial convenience, security, and stability for international students while studying abroad.
FAQs
Can I open a US bank account without a US address?
As an international student, you need to present proof of address in the U.S. to open a SoFi Checking and Savings account. This could be your dorm address.
Can I open a US bank account without an SSN?
Yes, you can open a U.S. bank account without a Social Security number (SSN). To open a SoFi Checking and Savings account, you can submit an Individual Taxpayer Identification Number (ITIN) instead of an SSN. This can be obtained from the Internal Revenue Service (IRS) or an IRS-authorized Certifying Acceptance Agent.
Can international students open a US bank account?
Yes, international students can open a U.S. bank account. To open a SoFi Checking and Savings account, you can upload such documents as a valid photo ID and proof of U.S. address, as well as providing your SSN or ITIN. If you want to take advantage of SoFi’s sign-up bonus offer for students, you’ll need to use your .edu email address when doing so.
Can international students open a US bank account without a parent?
An international student can open a SoFi Checking and Savings account without a parent, provided they are 18 years of age or older, and that they have the required credentials, such as photo ID, a U.S. address, and an SSN or ITIN.
By Derek Stratton |
Uncategorized |
Comments Off on Non-Permanent Resident Bank Account
Bank Accounts for Non-Permanent Residents
How to open a U.S. bank account as a non-permanent resident.
If you’re new to the U.S., having a domestic bank account can make your financial life simpler and more secure. Here’s key information on how to open a SoFi Checking and Savings account as a non-resident, including eligibility requirements, what you’ll need, and the steps to follow.
Open an account
What you need to get started.
To open an online bank account as a non-permanent resident, you’ll need to provide identification, a tax identification number, and proof of a U.S. address. You’ll also need to be 18 years old or older and provide an email address and phone number.
Photo ID
You’ll need to provide an official, government-issued photo identification document to prove your name and birth date. Eligible documents include an unexpired passport, driver’s license with photo, U.S. Employment Authorization Card with photo, and student ID with photo.
Proof of Address
You may also need to show proof of your U.S. address. For this, you can use a government-issued photo ID, current utility bill (electricity, water, internet, etc.) with your name and address, an employer paycheck or pay stub, or a copy of your lease agreement.
Identification Number
SoFi Checking and Savings accounts pay interest, which is taxable. To comply with tax-reporting requirements, you’ll need to provide a Social Security number (SSN) or an Individual Taxpayer Identification Number (ITIN). If you’re not a U.S. citizen, you can apply for an ITIN through the International Revenue Service (IRS).
Apply for a U.S. bank account in 3 steps:
At this time, SoFi offers individual and joint SoFi Checking and Savings accounts (trust and business accounts are not currently available). Here, you’ll learn the three basic steps needed to open a U.S. bank account for non-residents.
Gather the required documents
Before you begin your application, you’ll want to make sure you have all of the documents required to open an account, including a valid photo ID, proof of address, and an SSN or ITIN. You’ll also need to have the name and contact details for your U.S. employer.
Open the account online
You can apply for a non-resident bank account with SoFi online. You’ll enter your personal information, citizenship status, and SSN or ITIN. You’ll also need to select your employment status, employer details, and upload the required documents.
Make a deposit
Once approved, you can deposit funds into your new checking account via online transfer or wire. You can also make cash deposits at participating retailers using your SoFi debit card (some retailers may charge a fee).
Open an account
Benefits of opening a U.S. bank account.
While it’s possible to function in the U.S. with a foreign bank account, having access to a U.S. bank account comes with a number of advantages.
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FAQs
Can a non-citizen open a bank account in the US?
Yes, a non-citizen can open a bank account in the U.S. provided they have the proper documentation. To open a SoFi Checking and Savings account as a non-citizen, you will need a valid photo ID and an SSN or ITIN, which you’ll enter along with other personal details.
Can I open a US bank account without a US address?
Currently, you cannot open a SoFi Checking and Savings account without a physical U.S. address.
Can I open a US bank account without an SSN?
Yes, it’s possible to open a U.S. bank account without a Social Security number (SSN). If you don’t have an SSN, you can open a SoFi Checking and Savings account with an Individual Taxpayer Identification Number (ITIN) instead. To get an ITIN, you usually need to fill out a form with the Internal Revenue Service (IRS).
How do I receive/send money locally or from abroad?
At SoFi, domestic but not international wire transfers are available for sending and receiving funds. Within the United States, you can also complete a bank transfer in the app. Or you might write or deposit a check or use a bill pay option.
• Mortgage refinance rates in Georgia are influenced by the 10-year U.S. Treasury Note and housing inventory levels, among other factors.
• Mortgage refinancing can help you lower your monthly payments, pay off your loan faster, or get some cash out.
• A 1% drop in your mortgage interest rate could put $175 back in your pocket every month on a $300,000 loan.
• The shorter your loan term, the higher your monthly payments will be, but the less total interest you’ll pay over the life of the loan.
• Keep in mind that closing costs for refinancing generally fall between 2% and 5% of the loan amount.
Introduction to Mortgage Refinance Rates
Mortgage refinancing is the process of replacing your existing mortgage with a new one, often with more favorable terms and a lower interest rate. Whether your goal is to lower your monthly payment, pay off your loan faster, or get some cash out, the type of mortgage refinance you choose will play a big role in the interest rate you get. In this guide, we’ll explain how mortgage refinance rates work and give you the knowledge you need to get the best rate in Georgia. By staying up to date on mortgage refinance rates in Georgia, you can make the best decision for your financial future.
Mortgage refinance interest rates are a product of economic influences and your unique financial standing. For the strongest indicator of where current mortgage rates are headed, look to the 10-year U.S. Treasury Note. When rates on the note rise, mortgage interest rates tend to rise too. Then there’s the Georgia housing market. When inventory is high in your region of the state, lenders may lower rates to draw in homebuyers.
The overall economy also exerts an influence. A strong jobs market and economic growth can nudge interest rates higher, while a recession typically leads to lower interest rates. And let’s not forget your personal financial metrics: A high credit score and low debt-to-income ratio will position you to secure the best possible rate.
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Interest rates play a crucial role in the affordability of your refinance. Your monthly payment hinges on your home loan amount, repayment term, and the interest rate you secure. For instance, a $200,000 loan with a 6.00% interest rate and a 30-year term translates to a monthly payment of $1,199. Should the interest rate climb to 8.00%, the monthly payment would bump up to $1,467. The difference? Nearly $100,000 over the loan’s lifetime. Even a small shift in the current mortgage refinance rates in Georgia can lead to substantial savings.
Why Refi in Georgia?
Refinancing your mortgage can be a game-changer. If the current interest rates are in your favor, it’s a golden opportunity to lower those monthly payments and save a bundle in the long run. Before you take the leap, make sure you’ve got at least 20% equity in your home, especially if you’re eyeing a cash-out.
Common Reasons to Refinance a Mortgage
Homeowners refinance for a variety of reasons
• To secure a lower interest rate due to improved credit or market conditions
• To change repayment terms for lower monthly payments or faster payoff
• To cash out home equity to cover major expenses like tuition
• To change from an adjustable-rate to a fixed-rate mortgage
• For FHA loans, to ditch mortgage insurance once you reach 20% equity
• To remove a cosigner from the mortgage
How to Get the Best Available Mortgage Refi Interest Rate
Interest rates are partly determined by the homeowner’s financial situation, so here are some things you can do to prepare and hopefully boost your chances of getting a competitive interest rate:
• Boost your credit score, by always paying bills on time.
Understand Trends in Georgia Mortgage Interest Rates
The financial world is always changing, and mortgage interest rates fluctuate as a result. In 2025, interest rates are expected to hold steady for an extended period. But remember that the rates you see advertised are just averages. You could earn a higher or lower rate, depending on your credit score, DTI ratio, and other metrics.
Historical U.S. Mortgage Interest Rates
Here’s an even broader view of historical interest rates. It’s unusual for rates to go below 5.00%, as they did during the height of the pandemic, or rise above 10.00%, as in the 1980s.
Historical Interest Rates in Georgia
This chart shows how Georgia mortgage refi interest rates have stuck pretty close to the national rates from 2000 to 2018.
Year
Georgia Rate
National Rate
2000
7.96
8.14
2001
6.90
7.03
2002
6.45
6.62
2003
5.72
5.83
2004
5.69
5.95
2005
5.87
6.00
2006
6.56
6.60
2007
6.37
6.44
2008
6.05
6.09
2009
4.95
5.06
2010
4.75
4.84
2011
4.52
4.66
2012
3.64
3.74
2013
3.80
3.92
2014
4.12
4.24
2015
3.85
3.91
2016
3.72
3.72
2017
4.07
4.03
2018
4.58
4.57
Source: Federal House Finance Agency
Choose the Right Mortgage Refi Type
Mortgage refinance rates can also vary based on the type of refi you select. Here are some popular options:
Conventional Refi
A conventional refinance, also known as a rate-and-term refinance, gives you the ability to adjust your interest rate or repayment length. These loans typically offer higher interest rates compared to government-backed options. Some lenders offer a no-closing-cost refinance, in which the fees associated with the refi are rolled into the mortgage balance. Two examples of conventional refis are a 15-year mortgage refi and an adjustable-rate mortgage refi.
15-Year Mortgage Refi
Opting for a 15-year mortgage refinance can be a game-changer, slashing your total interest payments over the loan’s lifetime, despite the higher monthly costs. Here’s an example: If you borrow $300,000 at 6.00% interest and a 30-year term, you’ll pay $1,799 per month. Borrow the same amount at the same interest rate but choose a 15-year term and you’ll pay $2,532 per month. Over the life of the loan, choosing the shorter term will save you more than $100,000.
Adjustable-Rate Mortgage Refi
Adjustable-rate mortgages (ARMs) are initially offered with lower interest rates compared to fixed-rate loans. They can be a savvy choice for those who foresee a move before the rate adjusts. If you’re in a 30-year fixed-rate mortgage but have your sights set on a new home in a few years, an ARM could be your ticket to lower monthly payments. However, be sure to keep an eye on the potential for rate increases and how they might impact your budget.
Cash-Out Refi
Homeowners often look to their home equity to finance a variety of projects, such as home improvements or debt consolidation. Here’s how a cash-out refinance works: If you have a home valued at $500,000 and a mortgage balance of $300,000, you have $200,000 in equity. With some lenders allowing you to borrow up to 80% of that equity, you could potentially refinance and take out a new loan for up to $400,000 — enough to pay off your original mortgage and still have $100,000 left over.
FHA Refi
FHA refinances, insured by the Federal Housing Administration, often come with lower interest rates, making them an attractive option for homeowners. If you already have an FHA loan, you can opt for an FHA Simple Refinance or an FHA Streamline Refinance, which simplifies the process. For those without an FHA loan, options include an FHA cash-out refinance or an FHA 203(k) refinance, which is designed for home renovations.
VA Refi
VA refinances, backed by the Department of Veterans Affairs, offer some of the lowest interest rates available. To qualify for a VA refi, known as an Interest Rate Reduction Refinance Loan (IRRRL), you must have an existing VA loan. This type of refinance can help you secure a lower interest rate and reduce your monthly payments, making it a valuable option for veterans.
Securing a competitive mortgage rate can save you thousands of dollars over the life of your loan. You’ll want to shop around and get prequalified with multiple lenders to compare rates and fees. When you’ve got those offers in hand, compare each loan’s annual percentage rate (APR), which includes the interest rate, fees, and any discount points.
Look closely at how lenders’ fees contribute to mortgage refinancing costs as well. And make sure you know how long it will take you to recoup your costs before seeing real savings.
Online Refinance Calculators
Online refinance calculators are your best friends when it comes to getting an idea of what your new monthly payments might look like and comparing different refinance options. They can show you the potential impact of different interest rates, loan terms, and closing costs on your overall savings. By plugging in your current mortgage details and playing with different scenarios, you’ll be better equipped to decide if refinancing is the right move for you in Georgia.
Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.
The Takeaway
Refinancing your mortgage can be a smart financial move, offering benefits like lower interest rates, reduced monthly payments, and the potential to tap into your home’s equity. Whether you’re considering a cash-out refi, an FHA refi, a VA refi, or a 15-year mortgage refi, it’s important to weigh your financial goals and the current market conditions. By boosting your credit score, lowering your debt-to-income ratio, and shopping around for the best offers, you can land a great rate. Stay informed about Georgia refinance rates to ensure you’re capitalizing on the best refinance opportunity for you.
SoFi can help you save money when you refinance your mortgage. Plus, we make sure the process is as stress-free and transparent as possible. SoFi offers competitive fixed rates on a traditional mortgage refinance or cash-out refinance.
A mortgage refinance could be a game changer for your finances.
Can I get a lower interest rate without refinancing?
If you have the cash available, a mortgage recast might be a good option. A mortgage recast is when you make a large payment toward your loan principal and your lender reamortizes the loan. This will lower your monthly payments and save you on interest. If you’re experiencing financial hardship, you can also request a loan modification from your lender.
Can I ask my lender to lower my rate?
It’s possible to ask your lender for a lower interest rate, especially if you have a strong credit history and a history of on-time mortgage payments. But don’t be surprised if your lender declines your request.
Can I get equity out of my house without refinancing?
Yes, you can pull equity out of your property without refinancing. You can do this by getting a home equity line of credit (HELOC) or a home equity loan. These products allow you to tap into your home’s equity without having to refinance, which can save you money.
Is there a fee to recast your mortgage?
Yes, there is a fee to recast your mortgage. But it’s much less than a refinance. The fee to recast your mortgage is usually a few hundred dollars. This is much less than the thousands of dollars you would pay in closing costs for a refinance.
How much are closing costs on a refinance?
Closing costs usually run between 2% and 5% of your loan amount, depending on the current refinance rates and the lender fees. For example, if your new loan is $300,000, your closing costs could be anywhere from $6,000 to $15,000.
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¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.
†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article. Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
‡Up to $9,500 cash back: HomeStory Rewards is offered by HomeStory Real Estate Services, a licensed real estate broker. HomeStory Real Estate Services is not affiliated with SoFi Bank, N.A. (SoFi). SoFi is not responsible for the program provided by HomeStory Real Estate Services. Obtaining a mortgage from SoFi is optional and not required to participate in the program offered by HomeStory Real Estate Services. The borrower may arrange for financing with any lender. Rebate amount based on home sale price, see table for details.
Qualifying for the reward requires using a real estate agent that participates in HomeStory’s broker to broker agreement to complete the real estate buy and/or sell transaction. You retain the right to negotiate buyer and or seller representation agreements. Upon successful close of the transaction, the Real Estate Agent pays a fee to HomeStory Real Estate Services. All Agents have been independently vetted by HomeStory to meet performance expectations required to participate in the program. If you are currently working with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®. A reward is not available where prohibited by state law, including Alaska, Iowa, Louisiana and Missouri. A reduced agent commission may be available for sellers in lieu of the reward in Mississippi, New Jersey, Oklahoma, and Oregon and should be discussed with the agent upon enrollment. No reward will be available for buyers in Mississippi, Oklahoma, and Oregon. A commission credit may be available for buyers in lieu of the reward in New Jersey and must be discussed with the agent upon enrollment and included in a Buyer Agency Agreement with Rebate Provision. Rewards in Kansas and Tennessee are required to be delivered by gift card.
HomeStory will issue the reward using the payment option you select and will be sent to the client enrolled in the program within 45 days of HomeStory Real Estate Services receipt of settlement statements and any other documentation reasonably required to calculate the applicable reward amount. Real estate agent fees and commissions still apply. Short sale transactions do not qualify for the reward. Depending on state regulations highlighted above, reward amount is based on sale price of the home purchased and/or sold and cannot exceed $9,500 per buy or sell transaction. Employer-sponsored relocations may preclude participation in the reward program offering. SoFi is not responsible for the reward.
SoFi Bank, N.A. (NMLS #696891) does not perform any activity that is or could be construed as unlicensed real estate activity, and SoFi is not licensed as a real estate broker. Agents of SoFi are not authorized to perform real estate activity.
If your property is currently listed with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®.
Reward is valid for 18 months from date of enrollment. After 18 months, you must re-enroll to be eligible for a reward.
SoFi loans subject to credit approval. Offer subject to change or cancellation without notice.
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