Will mortgage rates drop in Kentucky?

Predicting future mortgage rate movements is challenging due to the influence of various economic factors. Homebuyers can keep an eye on economic indicators such as the Federal Reserve’s rate to try to get a sense of where the numbers are headed.

Will Kentucky home prices ever drop?

Real estate market trends are influenced by a combination of economic factors, including housing demand, and new home construction. Predicting future home price movements is complex and uncertain. Your best bet is to ask a local real estate agent who is watching the area market closely to give you an informal forecast.

Is it a good time to buy a house in Kentucky?

When you consider that even in Kentucky’s more costly home markets, the average home value is noticeably below the national average, you might decide that now is a good time to buy in Kentucky. But determining the right time to buy a house involves considering personal financial readiness and long-term financial goals as well. Homebuyers should assess their job stability, income, savings, and housing needs to make an informed decision.

How to lock in a mortgage rate?

Locking in a mortgage rate involves securing a commitment from a lender to provide a specific interest rate for a certain period. It is sometimes necessary to pay a fee to the lender to obtain a lock for 30, 60, or even 120 days.

Year	Kentucky Rate	U.S. Rate
2000	8.29	8.14
2001	7.00	7.03
2002	6.49	6.62
2003	5.68	5.83
2004	5.71	5.95
2005	5.94	6.00
2006	6.62	6.60
2007	6.48	6.44
2008	6.12	6.09
2009	5.09	5.06
2010	4.84	4.84
2011	4.53	4.66
2012	3.67	3.74
2013	3.86	3.92
2014	4.18	4.24
2015	3.85	3.91
2016	3.77	3.72
2017	4.00	4.03
2018	4.65	4.57
Source: Federal House Finance Agency

Oct

14

2024

SoFi Expands Loan Platform Business with $2 Billion Agreement with Fortress Investment Group

By Meghan Brown | | Comments Off

SAN FRANCISCO – October 14, 2024 – SoFi Technologies, Inc. (NASDAQ: SOFI), a member-centric, one-stop shop for digital financial services that helps members borrow, save, spend, invest and protect their money, today announced a $2 billion loan platform business agreement for personal loans with funds managed by affiliates of Fortress Investment Group LLC (“Fortress”). The agreement will expand SoFi’s capabilities in its loan platform business, where the company refers pre-qualified borrowers to loan origination partners as well as originates loans on behalf of third parties.

“SoFi’s loan platform business is an important part of our strategy to serve the financial needs of more members and diversify toward less capital-intensive and more fee-based sources of revenue,” said Anthony Noto, CEO of SoFi. “We’re pleased to see continued strong demand for SoFi’s loan platform business. Fortress’ collaboration, seamless execution, and appreciation of the platform’s value proposition makes them an exceptional partner.”

“Fortress is pleased to partner with SoFi to support the growth of the company’s loan platform business,” added Dominick Ruggiero, Co-Head of Specialty Finance at Fortress. “SoFi’s platform – and its focus on innovation and providing valuable credit solutions to its members – create a compelling investment opportunity for Fortress’s funds. We are excited about building a mutually beneficial partnership with SoFi.”

About SoFi

SoFi (NASDAQ: SOFI) is a member-centric, one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. The company’s full suite of financial products and services helps its nearly 8.8 million SoFi members borrow, save, spend, invest, and protect their money better by giving them fast access to the tools they need to get their money right, all in one app. SoFi also equips members with the resources they need to get ahead – like credentialed financial planners, exclusive experiences and events, and a thriving community – on their path to financial independence.

SoFi innovates across three business segments: Lending, Financial Services – which includes SoFi Checking and Savings, SoFi Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights – and Technology Platform, which offers the only end-to-end vertically integrated financial technology stack. SoFi Bank, N.A., an affiliate of SoFi, is a nationally chartered bank, regulated by the OCC and FDIC and SoFi is a bank holding company regulated by the Federal Reserve. The company is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.

About Fortress

Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $48 billion of assets under management as of June 30, 2024, on behalf of approximately 2,000 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. For more information, visit Fortress.com.

The Fortress Asset-Based Credit business provides capital solutions to specialty finance companies, lending against and investing in a broad spectrum of consumer receivables, small commercial receivables and other contractual cash flow streams. With over two decades of experience as an active investor in the space, the team focuses primarily on originating businesses in the US and Europe with an asset class agnostic approach.

Availability of Other Information About SoFi

Investors and others should note that we communicate with our investors and the public using our website (https://www.sofi.com), the investor relations website (https://investors.sofi.com), and on social media (Twitter and LinkedIn), including but not limited to investor presentations and investor fact sheets, Securities and Exchange Commission filings, press releases, public conference calls and webcasts. The information that SoFi posts on these channels and websites could be deemed to be material information. As a result, SoFi encourages investors, the media, and others interested in SoFi to review the information that is posted on these channels, including the investor relations website, on a regular basis. This list of channels may be updated from time to time on SoFi’s investor relations website and may include additional social media channels. The contents of SoFi’s website or these channels, or any other website that may be accessed from its website or these channels, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Oct

11

2024

Give Her Credit

By Nicholas Wong | 1_Web_Banking | Comments Off

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{/* https://www.sofi.com/givehercredit/ */}

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SoFi is awarding $500K to support women’s financial independence.

Cameron Brink partnered with SoFi to introduce the Give Her Credit Program. We celebrated the 50th anniversary of the Equal Credit Opportunity Act by awarding $10K to 50 projects that support women’s financial independence. Keep reading to learn more about our winners.

See the winners

{/* Introducing the Give her credit program */}

Introducing the Give Her Credit Program.

Did you know women’s right to take out credit in their own name wasn’t protected until 1974? SoFi’s mission is to help everyone reach financial independence to achieve their ambitions. That’s why in 2024, we furthered the 50 years of progress by awarding $500K to projects that support women’s financial independence through the Give Her Credit Program.

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Congratulations to our 50 Give Her Credit Program winners.

We support our members in achieving financial independence so they can realize their ambitions. That’s why we celebrated the 50th anniversary of the Equal Credit Opportunity Act by awarding $10K to 50 projects that support women’s financial independence. Read more about our winners and how they plan to make an impact.

See all the winners

{/* slide 1 */}

Using the $10K prize to fund a Women in Finance organization supporting women at MSU studying finance-related fields.

Kimberly H.
Michigan State University

{/* slide 2 */}

Money Sense will use the $10K prize to fund a financial literacy platform that empowers women to build financial independence.

Molly N.
Money Sense

{/* slide 3 */}

Frontline to Finances is using the $10K prize to provide financial literacy workshops for female veterans and
nurses in West Virginia.

Rebecca K.
Frontline to Finances

{/* slide 4 */}

Using the $10K prize to offer free financial literacy workshops in Baltimore City Schools through
Project 2053.

Renee W.
Queen Sisterhood Society, LLC

{/* slide 5 */}

Using $10K to fund workshops that inspire a diverse group of high school girls toward financial careers.

Rock the Street Wall Street
Brentwood, TN

{/* How would you use $10k to support women’s financial independence? */}

How would you use $10K to support women’s
financial independence?^*

Here are the four questions you’ll need to answer about your project or ambition and what
we’re looking for in your responses.

Tell us about your project.

We’re looking for projects that will have a clear and direct impact on women’s financial independence.
Explain how your project could inspire others.

We want to know how your project’s story will inspire others to achieve financial independence.
We want to know your “why.”

Tell us why your project is important to you and why it’ll be successful.
Finally, walk us through how $10K could help.

We’re looking for a clear explanation of how you’ll use the funds to support women’s financial independence.

Enter now

^*For Official Rules including prize details, limits, judging criteria and restrictions click here.

{/* Women who use SoFi are: */}

Women who use SoFi are:

5x more likely to say they feel inspired to build their wealth independently.
7x more likely to feel like they have the tools and resources to make better financial decisions.
6x more likely to say they feel like they can save for their future.

Source: SoFi Women & Financial Accomplishments research, Aug-Sept 2024.

{/* Youtube Video*/}

The history of credit is still being written.
Watch to learn more.

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{/* SoFi’s here to help everyone get their money right. */}

SoFi’s here to help everyone get their money right.

We support our members in achieving financial independence so they can realize their ambitions. Download the all in one app to start working toward
your goals.

Oct

11

2024

Current Mortgage Rates in Minnesota Today

By Dana Paltao | Uncategorized | Comments Off

MORTGAGE RATES TODAY IN MINNESOTA

Q: Will mortgage rates ever go back to normal?

The definition of "normal" mortgage rates varies over time. Historical data shows that mortgage rates have fluctuated over the years, influenced by economic conditions and market dynamics. What feels normal in one decade might feel unnaturally high (or low) in another.

Q: How do mortgage interest rates work?

Mortgage interest rates are determined by a complex interplay of economic factors, including the Federal Reserve's monetary policy, inflation, and unemployment rate. But the rate any individual homebuyer is offered is also dependent on their personal financial circumstances.

Current mortgage rates in

Minnesota.

View your rate

Preparing to buy a house? Call us for a complimentary mortgage consultation.

Compare mortgage rates in Minnesota.

Key Points

• For the most part, average Minnesota mortgage rates have tended to fall slightly below the national average.

• Minnesota as a whole is neither high nor low where the cost of living is concerned. It falls in the middle of U.S. states.

• Economic factors, consumer credit scores, and down payment amounts influence mortgage rates in Minnesota.

• Minnesota offers various mortgage types, including fixed-rate, adjustable-rate, FHA, VA, and USDA loans, each with its own characteristics and eligibility requirements.

• Jumbo loans are available for homebuyers who require a loan exceeding $832,750.

Introduction to Mortgage Interest Rates

Minnesota presents a diverse range of mortgage options for homebuyers looking for a home loan>. By staying informed about current mortgage rates, understanding the type of mortgage loans available, and exploring assistance programs, you can set yourself up for homeownership success in the North Star State.

Where Mortgage Rates Come From

The Federal Reserve, also known as the Fed, plays a pivotal role in setting short-term interest rates that banks use. While home loan rates are not directly tied to Fed rates, they generally follow similar economic trends.

The Fed’s actions influence the cost of borrowing for banks, which in turn affects mortgage rates. When the Fed raises interest rates, mortgage rates typically head north as well. But the Fed’s actions aren’t the only influence on mortgage rates. The factors that affect rates can be broadly categorized into two groups: the state of the economy and the borrower’s financial status. Economic factors include inflation, and unemployment rates. Borrower-specific factors encompass credit score, down payment, income and assets, and the type of mortgage loan a borrower chooses.

How Interest Rates Affect Home Affordability

Mortgage rates have a significant impact on home affordability, one that is often overlooked by homebuyers because the costs associated with a mortgage are paid incrementally, one month at a time. A seemingly small difference in interest rate can affect monthly mortgage payments and the overall cost of a home.

Should Homebuyers Wait for Interest Rates to Drop?

Many homebuyers face the dilemma of whether to buy now or wait for interest rates to drop. This quandary is particularly likely if you’re buying your first home (first-timers may be more at the mercy of the market as they typically have smaller budgets than repeat buyers, who tend to be older and more financially established). While it’s tempting to wait for a more favorable rate, it’s essential to consider the opportunity cost of delaying homeownership: Home prices may rise while you’re waiting. Plus you’re delaying building equity” in your home.

Homeowners who buy when rates are on the higher side can later complete a mortgage refinance to secure lower interest rates when they become available, allowing them to benefit from rate reductions without delaying homeownership.

Get matched with a local
real estate agent and earn up to
$9,500^‡ cash back when you close.

Pair up with a local real estate agent through HomeStory and unlock up to
$9,500 cash back at closing.^‡ Average cash back received is $1,700.

Connect with an agent

Recommended: Average Monthly Expenses for One Person

Minnesota Mortgage Rate Trends

Understanding historical mortgage rates can provide homebuyers with valuable insights. As you can see from the data below, Minnesota’s average mortgage rate has for the most part been a bit below the national average. (The Federal Housing Finance Agency stopped tracking this after 2018.)

Year	Minnesota Rate	U.S. Rate
2000	7.96	8.14
2001	6.88	7.03
2002	6.37	6.62
2003	5.46	5.83
2004	5.44	5.95
2005	5.62	6.00
2006	6.37	6.60
2007	6.29	6.44
2008	5.94	6.09
2009	4.95	5.06
2010	4.72	4.84
2011	4.45	4.66
2012	3.58	3.74
2013	3.85	3.92
2014	4.19	4.24
2015	3.90	3.91
2016	3.72	3.72
2017	4.01	4.03
2018	4.63	4.57
Source: Federal House Finance Agency

Historical U.S. Mortgage Rates

For context, it’s also worth looking at the ups and downs of the national average mortgage rate over several decades. Borrowers in 2023 may have lamented “high” rates of, say, 7.00%. But in the past, rates have reached as high as 18% (and as low as 3%).

Factors Affecting Mortgage Rates in Minnesota

Numerous factors influence mortgage rates in Minnesota and nationwide, as noted above. Let’s look more closely at these.

Economic Factors

Economic factors that impact mortgage rates include the federal funds rate, inflation, and unemployment rates.

• The federal funds rate set by the Fed influences the cost of borrowing for banks. As noted above, when the Fed drops its rate, mortgage rates tend to follow.

• Inflation erodes the value of money, prompting lenders to raise interest rates to maintain their profit margins.

• An unemploment rate that is low signals a robust economy. There may be increased demand for housing and limited supply. Unemployment rates also may indirectly affect the Fed’s actions.

Consumer Factors

Borrower-specific factors that influence mortgage rates include credit score, down payment, income and assets, and the type of mortgage loan.

• A credit score that is strong demonstrates responsible financial behavior, making borrowers more attractive to lenders and leading to lower interest rates.

• A larger down payment reduces the loan amount, lowering the lender’s risk and potentially securing a more favorable interest rate.

• A steady income and substantial assets signal financial stability, making the borrower attractive to potential lenders who may offer lower rates to good candidates.

• The type of mortgage loan you choose influences the interest rate you’re offered. Adjustable-rate mortgages (ARMs) often have lower initial rates, while government-backed loans like VA mortgages may offer preferential rates. Shorter loan terms generally come with lower rates compared to longer terms, although they also have higher monthly payments.

Types of Mortgages Available in Minnesota

Minnesota offers a range of mortgage options to meet the needs of different homebuyers, including fixed-rate, adjustable-rate, FHA, VA, and USDA loans.

Fixed-Rate Mortgage

Fixed-rate mortgages provide stability by maintaining the same interest rate throughout the life of the loan, ensuring predictable monthly payments. They come with different loan terms, such as 10-, 15- or 30-year terms, allowing borrowers to choose a repayment period that suits their financial circumstances.

Adjustable-Rate Mortgage (ARM)

Adjustable-rate mortgages (ARMs) offer lower initial interest rates compared to fixed-rate mortgages, but these rates can change over time based on market conditions. They are an attractive option for those planning to sell or refinance before the initial fixed-rate period ends.

FHA Loan

FHA loans, backed by the Federal Housing Administration, are designed to make homeownership more accessible to borrowers with limited resources or less-than-perfect credit. FHA insurance mitigates the risk for lenders, allowing them to offer FHA loans with less stringent requirements.

VA Loan

VA loans are exclusively available to veterans, active-duty military members, certain Reserve and National Guard members, and surviving spouses, offering favorable terms and benefits. A significant advantage of VA loans is the elimination of the down payment requirement, making homeownership more accessible to eligible veterans and military personnel. Getting a Certificate of Eligibility (COE) is the first step on the path to a VA loan.

USDA Loan

USDA loans, backed by the U.S. Department of Agriculture, are tailored to borrowers whose income falls below a certain threshold (which is specific to the location) and who are seeking to purchase a home in a rural area. These loans do not require a down payment and have competitive interest rates as well.

Jumbo Loan

Borrowers seeking financing for homes exceeding the conforming loan limits set by the Federal Housing Finance Agency (FHFA) will need a .

Conventional loans have a maximum loan amount, which may not be sufficient for higher-priced homes. In Minnesota, the conforming loan limit for 2026 is $832,750.

Recommended: Home Loan Help Center

Current mortgage rates by state.

Compare current home interest rates by state and find a mortgage rate that suits your financial goals.

Select a state to view current rates:

Popular Places to Get a Mortgage in Minnesota

Securing a mortgage with payments you can afford often depends on choosing a location where home prices are affordable. Fortunately, Minnesota is relatively affordable as U.S. states go, ranking 25th on the list of U.S. states ranked by cost of living. The average home value in Minnesota is $336,954. Of course, costs do vary across Minnesota’s cities and towns.

Least Expensive Locations

Areas with a lower cost of living, such as Little Falls (average home value: $265,619), St. Cloud ($247,028), and Duluth ($271,694), offer more affordable housing options and potentially more favorable mortgage terms. Consult SoFi’s list of best affordable places in the U.S. for information about housing-market bargains across the country.

Most Expensive Locations

Cities with a higher cost of living include Minneapolis and North Oaks, and may present challenges for some buyers in terms of housing affordability, although in a large city such as Minneapolis, buyers may find a wider range of options at all price points.

Tips for Securing a Competitive Mortgage Rate in Minnesota

Obtaining a competitive mortgage rate can significantly reduce the overall cost of a home over the life of the loan. Here are some tips on how to help ensure you secure the best available rate for your financial profile.

Compare Interest Rates and Fees

Shopping around and comparing interest rates and fees from multiple lenders is essential to securing a good mortgage deal. Make sure you understand all associated costs, including upfront fees and closing charges, so you can make an informed decision about your lender.

Get Preapproved

Obtaining preapproval for a mortgage strengthens a homebuyer’s position in the market and allows for quicker action when finding the right property. When you go through the mortgage preapproval process and emerge with a letter from a lender, you’re able to demonstrate to a seller that you are financially prepared to buy their home.

Minnesota Mortgage Resources

Minnesota offers various resources and programs to assist homebuyers, particularly if you qualify as a first-time homebuyer. Take a look at these options:

First-Time Homebuyer Programs

Minnesota Housing offers programs tailored to first-time homebuyers. The Start Up program is for first-time homebuyers, which is someone who hasn’t had an ownership interest in a principal residence in the last three years. There are both income and home price limits which can vary by county. (Repeat homebuyers who don’t qualify for Start Up might qualify for Step Up, another program that offers higher income and home price limits.)

Down Payment Assistance

Down payment assistance programs help homebuyers overcome the hurdle of accumulating a substantial down payment. In Minnesota, if you qualify for Start Up or Step Up you may also be able to take advantage of one of the state’s down payment and closing cost assistance programs, which offer deferred payment loans.

Tools & Calculators

Online tools and calculators can help you estimate mortgage payments, compare loan options, and make informed financial decisions.

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.

Calculate
Down payment calculator

Enter a few details about your home loan and we’ll provide your monthly mortgage payment.

Calculate
Home affordability calculator

Provide us with a few details and see how much you can afford to spend on a home purchase.

Calculate

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.

Refinancing Options in Minnesota

Homeowners in Minnesota have the option of refinancing their mortgages to secure a lower interest rate or adjust loan terms. Banks and other lenders offer refinancing options, and those with government loans may be able to take advantage of one of these programs:

• FHA Streamline Refinance offers a simplified process for FHA loan holders to obtain lower interest rates.

• VA Interest-Rate Reduction Refinance Loans provide VA loan holders with an opportunity to lower their monthly payments.

Closing Costs, Taxes, and Fees in Minnesota

Closing costs in Minnesota typically range from 3% to 6% of the home’s purchase price. Closing costs and fees represent a significant portion of the homebuying expenses and should be carefully considered when budgeting for a property purchase. The cost of closing varies depending on the value and location of the property.

The Takeaway

Minnesota’s mortgage landscape offers a range of options for homebuyers, catering to diverse financial situations and homeownership goals. Minnesota provides a variety of mortgage products, assistance programs, and refinancing options to meet the needs of different homebuyers. Homebuyers in Minnesota who do their due diligence and explore not only interest rates but also fees and closing costs can navigate the mortgage process effectively and save money long term.

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.

SoFi Mortgages: simple, smart, and so affordable.

View your rate

FAQ

Will mortgage rates drop in Minnesota?

Predicting future mortgage rate movements is challenging due to the influence of multiple economic factors. Staying informed about market trends and consulting financial experts can help homebuyers make an informed decision.

Will mortgage rates ever go back to normal?

The definition of a “normal” mortgage rate can vary over time. Rates fluctuate, and homebuyers would really be better off focusing on securing the best possible rate within the current market conditions if they need financing for a home.

Will Minnesota home prices ever drop?

Real estate market dynamics are complex and each local area is different. If you want to get a sense of whether prices might drop in a specific town or city in Minnesota, consult a local real estate agent who has expertise in the area.

Is it a good time to buy a house in Minnesota?

Prices in some Minnesota markets have declined in recent months, but others have risen. Whether this is the right time to buy in any given market likely depends more on your financial situation and your personal needs (is your rental lease ending? Is a baby on the way? Are you relocating for work?), and less on the market conditions.

How do I lock in a mortgage rate?

Locking in a mortgage rate usually involves paying a fee to the lender to secure the current interest rate for a specified period. This protects homebuyers from potential rate increases during the lock-in period, which is typically 30 to 60 days, but can sometimes extend longer.

How do mortgage interest rates work?

Mortgage interest rates are influenced by various economic factors, including the federal funds rate, inflation, and unemployment rates. But the specific rate you will be offered is also dependent on your personal financial situation—how much you wish to borrow, how large a down payment you plan to make, your credit score, and other metrics.

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.

†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.

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.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

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.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

‡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.

The trademarks, logos and names of other companies, products and services are the property of their respective owners.

SOHL-Q324-078

Browse other Minnesota home guides.

More home loan resources.

First-Time Homebuyer Guide

Learn more
First-Time Homebuyer Programs and Loans

Learn more
Mortgage Preapproval Process

Learn more

Preparing to buy a house? Call us for a complimentary mortgage consultation.

Oct

11

2024

🤖Will robots steal our jobs?

By Dana Paltao | | Comments Off

SoFi Blog

Tips and news—for your financial moves.

Compare mortgage rates in Kentucky.