Current Mortgage Refinance Rates in Florida Today
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Compare mortgage refinance rates in Florida.
Key Points
• Mortgage refinance rates are influenced by a variety of economic factors, like the 10-year Treasure Note and housing inventory.
• A half-percentage point reduction in your mortgage refinance rate can lead to significant savings on the interest you pay over the life of the loan — to the tune of tens of thousands of dollars.
• Refinancing to a 15-year mortgage can reduce the total interest paid over the life of the loan, in exchange for higher monthly payments.
• Government-backed mortgages — like FHA, VA, and USDA loans — often come with lower mortgage refinance rates.
• When considering a mortgage refinance, make sure to factor in closing costs, which typically range from 2% to 5% of the loan amount.
Introduction to Mortgage Refi Rates
Refinancing your mortgage can be a savvy financial maneuver, allowing you to replace your existing mortgage loan with a new one with improved terms and ideally a lower interest rate. Whether your objective is to reduce your monthly payments, shorten the duration of your loan, or tap into your home equity, the specific type of refinance you opt for will directly influence the mortgage refinance rate you are offered. This comprehensive guide aims to clarify the factors that determine mortgage refinance rates and empower you to secure the most favorable rate available in the market.
💡 Quick Tip: How soon can you refinance your mortgage? It varies by loan type, but typical
waiting periods are 6 to 12 months.
Where Do Mortgage Refinance Interest Rates Come From?
Mortgage refinance interest rates are influenced by economic factors, naturally, but also by your individual financial profile. The strongest indicator of where mortgage interest rates are going lies in the 10-year U.S. Treasury Note. When rates on the note rise, mortgage interest rates tend to rise too. Another factor is the housing market. When inventory is high, lenders may lower rates to lure customers. We’ll get to your role in the interest rates you’re offered, and how you may nudge them lower, a little later.
How Interest Rates Affect Home Affordability
As you may remember from when you took out your original mortgage, current mortgage rates
significantly impact the affordability of your home loan. Same goes for mortgage refinancing: Your monthly payment is determined by your interest rate, as well as your loan amount and repayment term.
| Interest Rate | Monthly Payment | Total Interest |
|---|---|---|
| 6.00% | $1,199 | $231,677 |
| 6.50% | $1,264 | $255,085 |
| 7.00% | $1,330 | $279,021 |
| 7.50% | $1,398 | $303,403 |
| 8.00% | $1,467 | $328,309 |
Why Refinance in Florida?
Not every homeowner who refinances does it for the same reasons. Sure, if current mortgage refinance rates are lower than your existing rate, refinancing can reduce your monthly payments and save you money over the life of the loan. But there are benefits even when rates are flat. If home values in your area of Florida have shot up, you might want to cash out some of your equity. (By the way, you typically want at least 20% equity in your home before refinancing.) The specific reason for refinancing will determine the type of refi you choose and the rate you qualify for.
Common Reasons to Refinance a Mortgage
• The obvious one: You qualify for a lower mortgage refinance rate due to improved credit or market conditions.
• You want to change your repayment term to lower monthly payments or pay off your loan faster.
• You want to cash out home equity for expenses like education or home improvements.
• Your adjustable-rate mortgage is about to reset, and you want to switch to a fixed-rate loan for stability.
• You have an FHA loan and 20% equity, and you want to eliminate mortgage insurance by refinancing into a conventional loan.
• You’d like to remove a cosigner from your mortgage.
💡 Quick Tip: Wondering how to refinance a mortgage? The process, which takes about 30 to 45 days, is similar to when you got your original home loan.
How to Get the Best Available Mortgage Refi Interest Rate
Above, we mentioned how your financial profile influences the interest rate offers you receive. To secure the best mortgage refinance rate, you can build your credit score by always paying bills on time and avoiding new debt. You can also maintain a debt-to-income ratio below 36% — really, the lower the better.
When the time is right to refinance, shop around and compare interest rates and fees from multiple lenders. If you’re staying put in your home for a while, consider purchasing discount points to lower your rate. And if possible, shorten your loan term to 10 or 15 years for lower rates than longer terms.
How will you know the time is right? Because you’ve been keeping an eye on mortgage refinance interest rates:
Understand Trends in Florida Mortgage Interest Rates
Historical U.S. Mortgage Interest Rates
The chart below shows the trajectory of interest rates from the 1970s to present. Some homeowners consider current mortgage refi rates high compared to the rock bottom interest rates we saw during the height of the pandemic. But rates today are near the historical average.
Historical Interest Rates in Florida
Florida interest rates on average stay close to national rates — sometimes they’re a bit higher, sometimes lower. Also, keep in mind that advertised rates are just averages. Your rate might be higher or lower, depending on your financial profile.
| Year | Florida Rate | National Rate |
|---|---|---|
| 2000 | 7.96 | 8.14 |
| 2001 | 7.03 | 7.03 |
| 2002 | 6.53 | 6.62 |
| 2003 | 5.78 | 5.83 |
| 2004 | 5.75 | 5.95 |
| 2005 | 5.94 | 6.00 |
| 2006 | 6.70 | 6.60 |
| 2007 | 6.55 | 6.44 |
| 2008 | 6.17 | 6.09 |
| 2009 | 5.11 | 5.06 |
| 2010 | 4.87 | 4.84 |
| 2011 | 4.59 | 4.66 |
| 2012 | 3.67 | 3.74 |
| 2013 | 3.86 | 3.92 |
| 2014 | 4.19 | 4.24 |
| 2015 | 3.96 | 3.91 |
| 2016 | 3.77 | 3.72 |
| 2017 | 4.10 | 4.03 |
| 2018 | 4.62 | 4.57 |
Next, we’ll look at how the type of mortgage refi you choose affects your interest rate.
Choose the Right Mortgage Refi Type
Mortgage refinance rates vary based on the specific type of refinance chosen. Each option presents distinct characteristics and advantages that cater to diverse financial needs.
Conventional Refi
A conventional refinance, also known as a rate-and-term refinance, entails altering the interest rate or loan duration associated with your existing mortgage. These types of refinances typically come with higher mortgage refinance rates when compared to government-backed loans. Nonetheless, they provide flexibility and can be a suitable option for individuals seeking to lower their interest rate or modify their repayment term. Two variations on conventional refis are the 15-year term and the adjust-rate mortgage (ARM).
15-Year Mortgage Refi
Refinancing to a 15-year mortgage can be a strategic move, if you can afford the higher monthly payments. The chart below shows how switching to a 15-year term affects the monthly payment and total interest paid on a $1 million mortgage. Regardless of your interest rate, the shorter term can save you hundreds of thousands of dollars.
Adjustable-Rate Mortgage Refi
Adjustable-rate mortgages (ARMs) are initially offered with lower interest rates compared to fixed-rate loans, making them an attractive option for homeowners with short-term plans. Opting for an ARM can result in reduced monthly payments, provided that you intend to move before the interest rate undergoes adjustments. It is important to note, however, that the interest rate has the potential to increase over time, which may lead to higher payments in the future. Therefore, this option is most suitable for individuals who are certain that they will not reside in the property for an extended period.
Cash-Out Refi
Cash-out refinances allow homeowners to tap into their home equity, receiving a lump sum that can be used for home renovations or debt consolidation. If your home is valued at $500,000 and you owe $300,000 on your current mortgage, you have $200,000 in equity. A lender might allow you to borrow up to 80% of your equity, leaving you with $100,000 after paying off your existing mortgage. Just be aware that a cash-out refinance typically comes with higher mortgage refinance rates than traditional refinances.
FHA Refi
FHA loans, insured by the Department of Housing and Urban Development, frequently come with lower mortgage refinance rates, making them an enticing choice for homeowners. FHA Simple Refinances and FHA Streamline Refinances are specifically tailored for individuals with existing FHA loans, while FHA cash-out refinances and FHA 203(k) refinances (specifically designed for renovations) are available to homeowners who do not currently have an FHA loan. These options can not only assist in reducing monthly payments but also provide access to funds for home improvements.
VA Refi
VA loans, guaranteed by the Department of Veterans Affairs, present some of the most competitive mortgage refinance rates available, making them an exceptionally advantageous option for eligible veterans. The Interest Rate Reduction Refinance Loan (IRRRL) has been specifically tailored for homeowners with an existing VA loan, empowering them to secure a reduced interest rate or transition from an adjustable-rate to a fixed-rate mortgage. This can lead to a significant decrease in monthly payments and the total interest paid throughout the duration of the loan.
Compare Mortgage Refi Interest Rates
Once you’ve landed on the type of mortgage refi that suits your needs, it’s time to shop for a refi. Review average mortgage refinance rates to get a benchmark. You might want to get prequalified with multiple lenders to see personalized offers (that won’t ding your credit score). Compare each loan’s annual percentage rate (APR) to understand the total cost, including fees and any discount points. Consider the trade-off between rate and fees; lower rates often come with higher costs, and vice versa (thus the no-closing-cost refinance).
Use Online Calculators
Online refinance calculators allow you to estimate your new monthly payment and compare various refinance options. This is what homeowners mean when they say they’ve “crunched the numbers.”
Run the numbers on your home loan.
-
Mortgage calculator
Punch in your home loan amount and a new interest rate, and we’ll estimate your payoff date.
-
Down payment calculator
Enter a few details about your home loan and we’ll provide your monthly mortgage payment.
-
Home affordability calculator
Provide us with a few details and see how much you can afford to spend on a home purchase.
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 shrewd financial maneuver, but it necessitates research and a clear understanding of your financial goals. Whether you seek to reduce your mortgage refinance rate, access your home equity, or transition to a different loan type, comprehending the available options and preparing your financial profile can empower you to make an optimal decision. Always weigh the potential savings against the associated costs, and thoughtfully consider your long-term financial aspirations.
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.
FAQ
Are refinance rates going to drop?
No one really knows where interest rates are headed. The real question is whether the potential savings of a mortgage refinance are worth the closing costs and other fees. Make sure you understand exactly how long it will take for you to recoup those costs before you start to benefit from the savings.
Can I refinance when rates go down?
Yes, you have the option to refinance your mortgage when interest rates decline. But lower interest rates aren’t the only reason to refinance. Regardless of your financial goals, you need to evaluate whether the potential savings outweigh the associated costs, which can be 2% to 5% of the loan amount.
When is it smart to refinance your home?
It’s a prudent financial strategy to pursue mortgage refinancing when you can secure a lower interest rate. This can reduce the financial burden associated with your monthly payments and lead to substantial savings in total interest paid over the duration of the loan. But there are other ways to save money on interest, such as shortening your loan term. As long as the savings you’ll reap exceed the cost of the refinance, it can be a smart move.
How much does 1 percent lower your monthly payment?
A 1% reduction in the interest rate of your mortgage refinance can lead to a significant decrease in your monthly payment. Consider a $300,000 mortgage with an interest rate that drops from 7.00% to 6.00%. This 1% reduction can result in a decrease of approximately $170 in your monthly payment. The higher your loan principal, the greater your savings.
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More refinance resources.
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How Much Does It Cost to Refinance a Mortgage?
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How to Refinance a Home Mortgage Loan
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7 Signs It’s Time for a Mortgage Refinance
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Best Affordable Places to Live in Tennessee in 2025
Best Affordable Places to Live in Tennessee in 2025
(Last Updated – 03/2025)
From the outdoor attractions such as the Great Smoky Mountains National Park to some of our country’s best music scenes, Tennessee presents plenty of good reasons for people to take up residence. What’s more, the state offers some savings — homeowners pay an average property tax rate of 0.58%, which is about half the national average. Tennessee’s cost of living is lower than the national average, and lower than some of its neighboring states, including Georgia.
Whether you are a recent grad just starting out, a young family, a retiree, or someone who wants to be close to natural beauty (don’t forget your kayak), Tennessee will likely delight you with an array of affordable places to call home.
This guide shares some top picks to suit people of different ages and life stages.
Best Places to Live in Tennessee
Tennessee can be a wonderful and affordable place to live. Some of the reasons why it’s popular: its natural beauty, welcoming climate, ample career and educational opportunities, and plenty of arts and cultural activities as well. In addition, the state offers a low cost of living and no state income tax.
Some of the state’s popular places include Nashville, known for its country music scene, nightlife, and growing job market. There’s also Chattanooga, which is close to the Appalachian Mountains and many historical sites, and Memphis, home of the blues, with a thriving music scene, as well as the Memphis Zoo, a popular family attraction.
This guide will introduce you to these and other great places to live in Tennessee.
💡 Quick Tip: You deserve a more zen mortgage loan. When you buy a home, SoFi offers a guarantee that your loan will close on time. Backed by a $5,000 credit.‡
Best Affordable Places to Live in Tennessee
It’s official: Tennessee has been “discovered.” Since we last reported our Best Affordable Places list, home values have ballooned here, especially in cities like Nashville and Knoxville. While you’ll no longer find many home price-to-income ratios in the 1s and 2s, there are still cities and towns that hold out the promise of affordable houses and a low cost of living. The three locations below offer a money-smart lifestyle and many amenities.
1. Memphis
Photo credit: iStock/Sean Pavone
Music or blues fans will love the flourishing music scene: You’ll find Beale Street, Sun Studios, and Elvis’ Graceland here. Though the average property tax is higher, the lower costs may make up for it. Other ways to spend time in Memphis include the National Civil Rights Museum and Shelby Farms Park. If you’re shopping for a home in Memphis, getting a jump on the mortgage preapproval process can be a smart move.
Population: 618,639
Median Household Income: $51,211
Cost of Living: 87% of the national average
Average Rent Price: $1,335
Home Price-to-Income Ratio: 2.81
2. Jackson
Photo credit: iStock/BOB WESTON
Located around 70 miles outside of Memphis, this small city offers all the amenities — including distilleries, an array of restaurants, and a railroad museum — that make it a vibrant place to settle down. Affordability is a major plus, too. If you’re thinking of buying soon, it can be wise to learn the difference between mortgage preapproval vs. prequalification and pick the right option for you.
Population: 68,264
Median Household Income: $51,552
Cost of Living: 83% of the national average
Average Rent Price: $1,400
Home Price-to-Income Ratio: 4.15
3. Chattanooga
Photo credit: iStock/Kruck20
This city by the foot of the Appalachian Mountains, near the border of Georgia, offers easy access to other parts of the state. Residents can enjoy a less car-dependent lifestyle by getting around the city by bus, trolley, or walking. More than 35% of the population hold a bachelor’s degree or higher.
Population: 187,030
Median Household Income: $61,028
Cost of Living: 95% of the national average
Average Rent Price: $1,725
Home Price-to-Income Ratio: 4.96
Recommended: Different Types of Mortgage Loans
Best Places to Live in Tennessee for Families
If you have kids or they’re in your future, there are an array of best places to live in Tennessee for families. Here, three top-notch locations for raising a clan.
1. Germantown
Photo credit: Wikimedia Commons/Thomas R Machnitzki , Creative Commons Attribution 3.0 Unported
Germantown is a suburb east of Memphis that offers plenty of parks for families, as well as a nice selection of restaurants and coffee shops. Families will appreciate that the schools are rated above average. While the town has one of the higher property tax rates in the state, the low home price-to-income ratio helps take the sting out.
Population: 40,627
Median Household Income: $144,799
Cost of Living: 92% of the national average
Average Rent Price: $2,616
Home Price-to-Income Ratio: 3.28
2. Collierville
Photo credit: Wikimedia Commons/Thomas R Machnitzki , Creative Commons Attribution 3.0 Unported
Also located east of Memphis, Collierville is full of families: They make up 80% of the population. There are many retail and restaurant options, and families will enjoy the many parks this suburban area offers. They may also find the top-rated public schools attractive. First-time homebuyer programs in Tennessee could help bring home prices even further in reach for some.
Population: 51,317
Median Household Income: $134,319
Cost of Living: 93% of the national average
Average Rent Price: $2,623
Home Price-to-Income Ratio: 3.75
3. Farragut
Photo credit: Flickr/www78 , Creative Commons Attribution-NonCommercial-ShareAlike 2.0 Generic
Farragut boasts a small-town atmosphere with plenty of community events that celebrate the seasons and the beauty of eastern Tennessee. Parents are often fans of this suburb of Knoxville because it offers some of the best public schools in the state. The area has many walking trails, parks, and restaurants. With its proximity to the city, many residents can commute to work. Ready to shop? Learn tips for qualifying for a mortgage.
Population: 25,579
Median Household Income: $142,402
Cost of Living:88% of the national average
Average Rent Price: $2,600
Home Price-to-Income Ratio: 4.61
💡 Quick Tip: A VA loan can make home-buying simple for qualified borrowers. Because the VA guarantees a portion of the loan, you could skip a down payment. Plus, you could qualify for lower interest rates, enjoy lower closing costs, and even bypass mortgage insurance.†
Best Places to Live in Tennessee for Young Adults
Recent grads and young professionals are often looking for certain things in a town: a robust job market, reasonable cost of living, and lots of entertainment and nightlife options. Here, learn more about three of the best places to live in Tennessee for young adults.
1. Memphis
Photo credit: iStock/Sean Pavone
Memphis has a thriving music scene, but there are plenty of other attractions including bars and restaurants, museums and historic sites, and The Peabody Ducks (if you know, you know). Seasonal festivals and parades also draw crowds. The dense urban area provides many career opportunities, and over 28% of adults hold a bachelor’s degree or higher. The cost of living in Tennessee also contributes to this being an affordable place to live.
Population: 618,639
Median Household Income: $51,211
Cost of Living: 87% of the national average
Average Rent Price: $1,335
Home Price-to-Income Ratio: 2.81
2. Chattanooga
Photo credit: iStock/Kruck20
Chattanooga has many outdoor activities like river walks and hiking trails, plus unusual attractions like Ruby Falls, a natural cavern system with a massive underground waterfall. Young adults will also appreciate the music festivals, year-round sports, and The Passage, a multilevel arcade and entertainment center. While the home price-to-income ratio is rising, there are still deals to be found.
Population: 187,030
Median Household Income: $61,028
Cost of Living: 95% of the national average
Average Rent Price: $1,725
Home Price-to-Income Ratio: 4.96
3. Nashville
Photo credit: iStock/Jonathan Ross
Nicknamed “Music City,” Nashville offers plenty of nightlife and entertainment. Downtown, you’ll find parks, museums, and restaurants with a wide variety of cuisines. Public transportation is available if you want to avoid driving. And because it’s a large city, you’re bound to find decent job opportunities. The average home value is $302,628, about $50K below the national average. However, the rising home price-to-income ratio indicates that first-time homebuyers may need to save a bit longer to live here.
Population: 683,622
Median Household Income: $65,565
Cost of Living: 104% of the national average
Average Rent Price: $2,200
Home Price-to-Income Ratio: 5.71
Best Places to Live in Tennessee for Retirees
For those looking for the best places to live in Tennessee for retirees, keep this list handy. It contains three towns to consider that have access to nature and historical and cultural attractions, as well as reasonably priced real estate and good medical facilities.
1. Collierville
Photo credit: Wikimedia Commons/Thomas R Machnitzki , Creative Commons Attribution 3.0 Unported
Collierville’s 65 and over residents account for about 15% of the population, with typical home values around $500K. Though the median rent is higher than the state average, residents will enjoy the historical downtown area and access to high-quality medical facilities. If you’re prepping to buy, visiting a home loan help center online can give you the facts you need.
Population: 51,317
Median Household Income: $134,319
Cost of Living: 93% of the national average
Average Rent Price: $2,623
Home Price-to-Income Ratio: 3.75
2. Paris
Photo credit: Flickr/Kathleen Tyler Conklin , Creative Commons Attribution 2.0 Generic
A small town located in the northern part of the state, Paris has some of the least expensive housing options in the state, with average home values at $187,843, and average rents of $850. Then there’s the overall cost of living that’s more than 20% below the national average. The historical downtown area offers some amenities; otherwise, the area is mostly rural. Seniors appreciate the easy access to Henry County Medical Center.
Population: 10,343
Median Household Income: $39,365
Cost of Living: 79% of the national average
Median Rent Price: $850
Home Price-to-Income Ratio: 4.77
3. Kingsport
Photo credit: iStock/DenisTangneyJr
With 23% of the population being 65 and older, retirees have a decent chance of finding a community with like-minded peers as well as activities geared toward their needs and interests. There is a local transit system for those who’d rather not drive, plus plenty of outdoor areas to explore and relax. Average home values are $241,090, and the local cost of living is well below the national average.
Population: 56,704
Median Household Income: $50,436
Cost of Living: 82% of the national average
Average Rent Price: $1,300
Home Price-to-Income Ratio: 4.78
Recommended: Cost of Living by State
Best Places to Live in Tennessee Near the Water
Granted, there’s no oceanfront property, but that doesn’t mean there’s a lack of great places to live in Tennessee near the water. If you like strolling by a lake’s shore or paddling down a river, there are plenty of options in the state.
1. Ashland City
Photo credit: Flickr/SeeMidTN.com , Creative Commons Attribution-NonCommercial 2.0 Generic
Ashland City is a small town situated outside of Nashville, near the Cumberland and Harpeth rivers. Residents can enjoy nearby Cheatham Lake recreational area with activities such as hiking, fishing, and swimming. There is also rock climbing at Sydney’s Bluff, adding to the area’s nature-focused activities.
Population: 5,586
Median Household Income: $73,921
Cost of Living: 89% of the national average
Average Rent Price: $2,000
Home Price-to-Income Ratio: 4.47
2. Waverly
Waverly promotes itself as “small-town living with big city goals and opportunities.” Case in point: Nashville State Community College has a Waverly campus. The town is situated along the Tennessee River, where residents can enjoy antiquing, golf, and historical sites. The nearby Buffalo River offers canoeing and hiking. Home prices are modest, with an average value of $219,545, and the cost of living is just 80% of the national average.
Population: 4,275
Median Household Income: $45,600
Cost of Living: 80% of the national average
Average Rent Price: $850
Home Price-to-Income Ratio: 4.81
3. Kingston Springs
Last but not least on this list of best places to live in Tennessee near the water is Kingston Springs. Relatively close to Nashville, this up-and-coming town along the Harpeth River offers many outdoor activities such as canoeing and kayaking, and a well-stocked vintage store. The average home value is $454,767.
Population: 2,787
Median Household Income: $95,050
Cost of Living: 99% of the national average
Average Rent Price: $2,850
Home Price-to-Income Ratio: 4,69
The Takeaway
Tennessee offers a wealth of affordable places to live, whether you’re just starting out after graduation, raising a family, retiring, or looking for a place to put down roots near the water. If you are contemplating buying a home, it’s a good idea to do your research and see what kind of mortgage loans are available.
If you are contemplating buying a home, it’s a good idea to do your research and see what kind of mortgage loans are available.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
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FAQ
Where is the most desirable place to live in Tennessee?
Some of the most desirable places to live in Tennessee include the larger cities such as Nashville, Memphis, and Chattanooga. Many people find the combination of amenities and job opportunities attractive.
What is the best part of living in Tennessee?
Some of the best parts of living in Tennessee include the plentitude of outdoor activities, cultural sights, and the music scene in multiple cities. In addition, the mild climate and affordable cost of living can be very attractive.
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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.
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‡SoFi On-Time Close Guarantee: If all conditions of the Guarantee are met, and your loan does not close on or before the closing date on your purchase contract accepted by SoFi, and the delay is due to SoFi, SoFi will provide you $2,000.^ Terms and conditions apply. This Guarantee is available only for loan applications submitted after 6/15/22 for the purchase of a primary residence. Please discuss terms of this Guarantee with your loan officer. The property must be owner-occupied, single-family residence (no condos), and the loan amount must meet the Fannie Mae conventional guidelines. No bank-owned or short-sale transactions. To qualify for the Guarantee, you must: (1) Have employment income supported by W-2, (2) Receive written approval by SoFi for the loan and you lock the rate, (3) submit an executed purchase contract on an eligible property at least 30 days prior to the closing date in the purchase contract, (4) provide to SoFi (by upload) all required documentation within 24 hours of SoFi requesting your documentation and upload any follow-up required documents within 36 hours of the request, and (5) pay for and schedule an appraisal within 48 hours of the appraiser first contacting you by phone or email. The Guarantee will be void and not paid if any delays to closing are due to factors outside of SoFi control, including delays scheduling or completing the appraisal appointment, appraised value disputes, completing a property inspection, making repairs to the property by any party, addressing possible title defects, natural disasters, further negotiation of or changes to the purchase contract, changes to the loan terms, or changes in borrower’s eligibility for the loan (e.g., changes in credit profile or employment), or if property purchase does not occur. SoFi may change or terminate this offer at any time without notice to you. ^To redeem the Guarantee if conditions met, see documentation provided by loan officer.
+Lock and Look program: Terms and conditions apply. Applies to conventional purchase loans only. Rate will lock for 91 calendar days at the time of preapproval. An executed purchase contract is required within 60 days of your initial rate lock. If current market pricing improves by 0.25 percentage points or more from the original locked rate, you may request your loan officer to review your loan application to determine if you qualify for a one-time float down. SoFi reserves the right to change or terminate this offer at any time with or without notice to you.
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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“SoFi Active Investing has attractive features for new investors: zero-commission stock, ETF and options trades, a $0 account minimum, financial planning help, fractional shares and IPOs.” 10
Best brokerage accounts for online stock trading
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Updated: January 14, 2026
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SoFi Invest offers online stock trading with no commissions so you can trade what you want, when you want—all from the SoFi App. Other Fees apply.
SoFi Invest is a secure and reliable platform that uses top-tier data encryption and robust account protection features. Our customer service is highly praised, and all financial advisors adhere to a fiduciary standard.
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Yes, all SoFi Invest members have access to extended hours trading for 30 minutes before the market opens (9:00 to 9:30 AM ET) and four hours after market close (4:00 to 8:00 PM ET).
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