Mortgage Refinancing from SoFi | No Hidden Fees, No Catch
{/*Hero hide*/}
And for our greatest trick yet, vanishing a lucky winner’s mortgage payments.*
It’s the SoFi Mortgage Payoff Sweepstakes. If you buy or refinance your mortgage with SoFi, we could pay for the whole thing, up to $500,000.* Enter by 2/8/26. There’s more magic in a SoFi Mortgage Loan as well—like competitive fixed rates, industry-leading speed1, and exclusive member discounts.2
Get started
*NO PURCHASE NECESSARY. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. Open only to legal residents of the 50 U.S./D.C. with an existing mortgage loan, 18+. Void where prohibited by law. Sweepstakes ends at 11:59 p.m. ET on 2/8/26. Subject to Official Rules, including alternate and free methods of entry, prizes, limits, and odds: click here. Sponsor: Social Finance LLC (“SoFi”) 234 First Street, San Francisco, CA 94105.
Received a mailer from us?
Enter confirmation #
{/*what is mr D&T*/}
What is a
mortgage refinance?
Mortgage refinancing replaces your current home loan with a new one. Homeowners often do this to take advantage of lower interest rates or adjust their payment terms. It can be a smart financial move, potentially saving you money now—and later. However, you should weigh the potential savings against the expenses involved, like closing costs.
{/*what is mr mobile*/}
What is a
mortgage refinance?
Mortgage refinancing replaces your current home loan with a new one. Homeowners often do this to take advantage of lower interest rates or adjust their payment terms. It can be a smart financial move, potentially saving you money now—and later. However, you should weigh the potential savings against the expenses involved, like closing costs.
{/*bg curve*/}
{/*why SoFi*/}
Why refinance
with SoFi?
Lower your interest rate.
See if you qualify for a lower rate than
you currently have.
Stack your savings.
SoFi Members save $500 at closing, SoFi Plus Members save $1,000.
Save now and over the life of the loan.
By securing a lower interest rate, you could
save on the total amount of interest you’ll pay over time.
Pick your term and monthly payment.
Select from 10-, 15-, 20-, or 30-year term options.* Or pick your own custom term to fit your budget.
{/*current rates*/}
Current mortgage refinance rates
A new mortgage refinance rate or term could be a game changer for your finances.
1 30-YEAR Payment Example: The payment for a 30-year term, loan amount $362000.00, Rate 6.250%, LTV 80% is $2229.00 for full Principal and Interest Payments with $5574.80 due at closing. The Annual Percentage Rate is 6.467%. 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 6.125%, LTV 80% is $2620.00 for full Principal and Interest Payments with $4941.30 due at closing. The Annual Percentage Rate is 6.388%. 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 $5690.64 due at closing. The Annual Percentage Rate is 5.605%. 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 5.375%, LTV 80% is $3906.00 for full Principal and Interest Payments with $5017.32 due at closing. The Annual Percentage Rate is 5.840%. 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.
{/*How to*/}
How to apply for SoFi
mortgage refinance.
-
Choose a refinance type.
Find the mortgage refinancing option with the interest rate and monthly payment to fit your budget.
-
Gather necessary documentation.
For a refinance loan, you typically need proof of income, employment verification, asset statements, current mortgage statement, homeowners insurance policy, property tax information, and government-issued photo ID.
-
Submit your online application.
It takes just minutes to get prequalified for a home mortgage refinance online.
-
Close and complete your refinance.
Once an underwriter has reviewed and approved your application, just sign your paperwork and we’ll begin processing your home mortgage refinance.
View your rate
{/*influence factors*/}
What factors influence refinance rates?
Every homeowner is unique, and so is every mortgage refinance. Here are a few factors that can affect your refinance rates.
Credit Score
What’s your score? Your credit
score can impact your refinance rate, monthly
payments, closing costs, and mortgage refinancing options.
Home Equity
Has the value of your home
changed? Getting an
appraisal and assessing the
equity of your home is an
important step in your
home refinance.
Economic Factors
Your mortgage refinance rate
is also influenced by
macroeconomic factors like
inflation and
unemployment rates.
These economic conditions can drive interest rate trends and affect borrowing costs.
{/* review */}
“Spencer and his team totally went to bat for us and got our loan processed. Very happy with him and his teams efforts and follow up. Communication was excellent right up to the loan funding.”
“Tyler was great to work with — super responsive, transparent, and efficient. He helped me secure a lower rate than I was expecting, and beat another lender’s offer when I brought it to him. The whole process felt smooth and low-stress thanks to his help.
Also want to shout out my Loan Processor Latoya, both Tyler and Latoya worked together to make everything easy! Will absolutely be recommending Tyler & SoFi to my friends/colleagues looking for a mortgage.”
“Ryan and was team were incredibly efficient, helpful and friendly. The whole experience was, as a borrower, so simple and painless. Everybody involved, the SoFi team, Nora the recorder, the insurance agent (who, thanks to Ryan’s introduction) saved me about 50% on my home insurance policy, were great to work with. Ryan got things moving as I had travel commitments, and he took those into account and moved everybody along. Highly recommended.”
300+ Reviews
{/*learn more*/}
Learn more about refinancing a mortgage
More resources on home equity
Get answers to questions like “What’s the difference between a home equity loan
and a HELOC (home equity line of credit)?”
Apply online or call for a complimentary mortgage consultation.
View your rate
FAQs
Should I refinance my mortgage?
Your decision to refinance your mortgage depends on factors like your current interest rate, how long you plan to stay in your home, and your financial goals. If refinancing offers significant savings or helps you achieve a lower monthly payment, it may be a good option for you.
How does mortgage refinancing work?
Mortgage refinancing replaces your existing home loan with a new one—usually to secure a lower interest rate, adjust the loan term, or access home equity. The new loan pays off the old one, and you start making payments on the refinanced mortgage.
How long does it take to refinance a mortgage?
Refinancing a mortgage typically takes 30 to 45 days from application to closing, though the timeline can vary based on lender processing times and required documentation. Factors like your financial profile and the complexity of the loan can also impact the timeline.
Can I refinance if I have bad credit?
Yes, you can refinance with bad credit, but it could result in higher interest rates. Some lenders offer specialized programs or consider factors like home equity and income to approve refinancing for borrowers with lower credit scores.
How will refinancing affect my monthly payment?
As a homeowner makes monthly payments on a mortgage, each payment typically contains a mixture of principal and interest. Refinancing for a lower mortgage refinance rate would help you pay less toward interest and more toward the principal of your mortgage.
Is now a good time to refinance my mortgage?
Homeowners often look to refinance when it could benefit them in some way, like with a lower interest rate or monthly payment. This guide breaks down a few signs that it may be time to look at mortgage refinancing as an option.
Learn more: 7 Signs It’s Time for a Mortgage Refinance
What is a home equity line of credit (HELOC)?
A home equity line of credit (HELOC) is a credit line secured by the value of your home, minus any existing mortgage owed. You can borrow against it, spend, repay, and borrow again using your home as collateral.
Learn more: What Is a Home Equity Line of Credit (HELOC)?
How much does it cost to refinance a mortgage on average?
As of 2021, the average national mortgage closing costs for a single-family home was $6,905, including taxes. These costs can include the lender’s title, owner’s title, home appraisal, settlement fees, recording fees, land surveys, and transfer tax. Your home refinance costs can vary based on the size of your mortgage, your terms, and the state in which you live.
When can you refinance a mortgage?
You can usually refinance a mortgage six months after the original loan closes, though some lenders may allow refinancing sooner if certain conditions are met. Timing also depends on factors like meeting lender requirements and ensuring refinancing benefits your financial situation.
When should I refinance my mortgage?
You should consider refinancing your mortgage when:
• Interest rates are lower than your current rate.
• You want to reduce your monthly payments.
• You need to adjust the loan term.
• You want to switch from an adjustable-rate to a fixed-rate mortgage.
• You want to access home equity for other financial goals.
See more FAQs
Read more
