SoFi Blog

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Mar
17
2021

Erik Test Homepage [REACT]

By | Uncategorized | Comments Off on Erik Test Homepage [REACT]



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Mortgage Loan Terms

5 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.

6 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.

7 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.

8 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.

Personal Loan Terms

Fixed rates from 8.74% APR
to 35.49% APR reflect the
0.25% autopay interest rate discount and a 0.25% direct
deposit interest rate discount. SoFi rate ranges are current as of 12/14/25 and are subject to change
without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. 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.

Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your
interest rate and an origination fee of 0%-7%, which will be deducted from any loan proceeds you receive.

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 8.74% 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 required; specifically, no
origination fees required, 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 8.74% APR to 35.49% APR. It works out to 24 monthly payments ranging from $1,356.68–$1,529.07 for a total amount of
payments ranging from $32,560.37–$36,697.76. 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.


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Mar
17
2021

7 Effective Ways to Navigate Major Life Milestones—Financially and Otherwise

By | Lifestyle | No Comments

Steering a course through major life milestones can be akin to navigating rapids. Both are best accomplished with the right tools and can be enjoyed much more with a little preparation. Financial stressors that sometimes accompany those milestones are usually easier to manage and more likely to have a positive impact on your wallet when there’s a plan in place to handle them.

1. Look Inward—and Be Critical!


When you think about the future, are you anxious or optimistic? What’s your decision-making style? Are you someone who goes with their gut, or are you a planner? Money management is subjective and personal, so if you don’t have a good understanding of how you approach life’s big changes, you could miss the boat financially.

Think back on changes you made in the past and dig deep into how you handled them. Often, a partner or supportive friend can help you gain insight into how you engage in change and where you might get stuck as you move through the process.

2. Shine a Bright Light on Your Values


Now’s the time to really think about what’s meaningful to you. Let’s say you’d like to buy your first home. What’s important about home ownership to you? Do you need to live in a neighborhood close to work or public transit, or in a good school district for your children? Will your purchase be an investment opportunity that will provide you with greater financial stability? Maybe you’re looking to put down roots and invest in a home that’s yours instead of a rental. Make a list, focusing on your values and how you want to live your life—your goal is to determine the “why?” behind your milestone.

Recommended: Why Debt-Free Living Leads to More Happiness

3. Research


Information is critical to success. So what do you need to reach your milestone? Career advice? Help paying down student loans? Home buying advice? Legal support? Maybe you just don’t know yet, which is totally normal. Research online and consider different perspectives, but stay clear and grounded in your values. If you identify as an anxious planner, you may find yourself getting stuck in this step, or trapped in a circle of research. So pick the brains of optimists who have been in your position and who can help you make a decision and move on to the next step.

4. Strategize


How you manage your transition could mean the difference between success and failure, so you need a strategy that considers different angles and paths. For example, how will starting a business play out financially in the short term and as you move through life? Will you have to keep your day job for a while? How long? If you’d like to start a family, look now into the details of your employer’s maternity leave benefits and consider taking better advantage of your employer-matching 401(k) plan. Visualize the future you want, and then create a chart that includes various approaches to designing it.

5. Consider the Changes You’ll Have to Make


To reach your milestone, financial adjustments will have to be made. For instance, if you’re starting a new job with a better salary, you may be able to put a little bit more toward retirement and add to your emergency fund. You may not see the same people every day, so maintaining important relationships might take some extra work.

If you want to buy a home, you might have to cut spending to afford a new mortgage, so take the time to modify your budget. If you’re planning to expand your family, you’ll need to consider new expenses, including childcare and additional healthcare costs, and start saving for your child’s education. Big life shifts translate to financial modifications and can be more successful with preparation.

Recommended: Tips for College Seniors

6. Taking the Leap


Change can be scary, regardless of how gutsy you are, but with information gathered, a plan in place, and a support system surrounding you, it’s time to make a decision and take the leap. If you tend to make decisions based on gut instinct, you may stumble here and worry in retrospect about whether you made the right one. But don’t panic even if you do, because you can always make changes down the road.

7. Fine-tune When Needed


It’s a fact of life: Not everything will go according to plan. So, there will be times when tweaks are necessary. Maybe you’ll have to adjust your budget or your timeline for achieving certain financial or personal goals. Staying positive and remembering that navigating life’s milestones is all about growth will help you control the shape of your financial future, and there will always be opportunities to correct missteps.

The Takeaway


Big changes represent exciting—and sometimes challenging—times. But by being true to yourself and your values, and by understanding exactly what you need to reach your biggest goals, you’ll empower yourself to succeed on your terms. SoFi members can access experienced career coaches who can help you determine what success means to you.

Learn more about career coaching and other member benefits offered by SoFi.

Learn More

SOCO21033

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Mar
15
2021
What to Consider Before Taking a Hardship Withdrawal

What to Consider Before Taking a Hardship Withdrawal

By | Money | Comments Off on What to Consider Before Taking a Hardship Withdrawal

Retirement accounts can be a source of emergency cash. But, is making an early withdrawal from a 401K a wise move?

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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 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 listed above and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, years of professional experience, income, and a variety of other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp. or an affiliate, NMLS # 696891. (www.nmlsconsumeraccess.org)

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