SoFi Blog

Tips and news—
for your financial moves.

Sep
12
2023

DM – HL Prospect Trigger (New)

By | 1_Web_ML | Comments Off on DM – HL Prospect Trigger (New)

With a SoFi Mortgage,
You’re eligible for a
$1,000 cash bonus.*

Here’s a great reason to choose SoFi for your next home
purchase or refi. Get a $1,000 cash bonus into a SoFi Checking
and Savings account once your loan is funded! Start by viewing your
rate-it takes minutes and won’t affect your credit score.†

Confirmation # required


Where’s my confirmation #?

Your confirmation # is a 13—digit code on the right hand side of the SoFi offer you received in the mail.


 

Don’t worry—checking your rate will not affect your credit score.†


Why SoFi

Mortgages?

Help when you need it.

Our Mortgage Loan Officers (MLOs) can guide you through the process—and we have member specialists standing by to answer any other questions.

Flexible loan options

✓ Choose from 10-, 15-, 20-, and 30-year fixed terms5-8

Simple online application.

Buying a home shouldn’t be so painful–our online application is simple, and we have dedicated Mortgage Loan Officers to guide you through the process.

Low down payment options

Down payments as low as 3% for first-time borrowers^, or as low as 5% for other borrowers.^

Private Mortgage Insurance (PMI) is an insurance that protects lenders in the event of loan default.

^ SoFi requires Private Mortgage Insurance (PMI) for conforming conventional home loans with a loan-to-value (LTV) ratio greater than 80%. 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.

Lock in today’s rate and find the home you love.

Our Lock and Look feature² allows you to lock in your rate for 90 days while you search for the perfect place to call home.


Close. On. Time.

Guaranteed.

You deserve a more zen mortgage. Our Mortgage Loan Officers are dedicated to closing your new home purchase on time – backed by our $5,000 guarantee offer.‡


⁵ 30-YEAR Payment Example: The payment for a 30-year term, loan amount $362000.00, Rate 5.875%, LTV 80% is $2141.00 for full Principal and Interest Payments with $6030.92 due at closing. The Annual Percentage Rate is 6.117%. 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 5.750%, LTV 80% is $2542.00 for full Principal and Interest Payments with $6041.78 due at closing. The Annual Percentage Rate is 6.072%. 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 5.125%, LTV 80% is $2886.00 for full Principal and Interest Payments with $4901.48 due at closing. The Annual Percentage Rate is 5.474%. 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 $5194.70 due at closing. The Annual Percentage Rate is 5.767%. 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.

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Sep
12
2023

Sam Auto Refresh

By | Uncategorized | Comments Off on Sam Auto Refresh


AUTO INSURANCE

Auto insurance
made easy.

We’ve teamed up with Experian® to help you protect your vehicle with the right auto insurance coverage at the right price.


Compare quotes now

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Get coverage that’s right for you.

  • Compare quotes

    Check prices and coverage options from a network of top insurance providers.

  • Save time

    Answer a few simple questions to get all your quotes in minutes, all in one place.

  • Personalized coverage

    See options tailored to fit your needs and compare them to your current policy.

  • Great rates

    Competitive quotes from different providers could help you save $961 a year on average.*

How it works:

How it works:


  • Personalize it.

    Answer a few questions about your
    home and needs.

  • See your quotes.

    Get offers from up to 40 top insurers
    to find the best rate.

  • Get covered.

    Purchase your favorite policy. That’s it!


Compare quotes now

{/* FAQs */}

FAQs


How is Experian® different from other insurance companies?
Experian® is an online insurance broker and agent. Experian® doesn’t replace the insurance company, it just helps you shop. Experian’s product is a free tool that helps you compare auto and home insurance rates across top providers and finds you the cheapest rate for your exact coverage.


How does Experian® work?
Experian® uses the account credentials to your current insurance account (or a PDF of your policy declarations page) to learn about your current coverage details, so you don’t have to input them manually. Experian® uses those details to get you apples-to-apples comparisons for the same coverage from other insurance providers to find a great rate. If you don’t want to use this feature, you can manually enter your information and select coverage type to get a quote.


How does Experian® make money?
Just like all agents, Experian® is paid a commission by the insurance company. There is no upcharge to you, Experian’s tool is free for you to use. These commissions are from the insurance companies’ marketing budgets given Experian® brought them new customers, not from your premiums. Your rates are the rates provided and don’t change. Experian® shows you quotes based on your savings. Experian® does not sell or share your data and doesn’t cold call or spam its customers.


See all FAQs



Get auto insurance today.


Compare quotes now

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Sep
11
2023

SoFi Joint Bank Account

By | 1_Web_Banking | Comments Off on SoFi Joint Bank Account

{/* Joint Bank Account – new module 11/25 */}


{/* HERO MODULE */}

Joint Bank Account

A checking and savings account for you and yours.

Our joint bank account helps two adults build toward the future as a team. Pay no account fees1 and earn $50 to $300 with eligible direct deposit3.

Plus, earn up to 3.30% APY on Savings with eligible direct deposit2. Terms apply.


Open an account

{/* Open a joint bank account designed to */}

Open a joint bank account designed to help you reach your goals together.

Our joint bank account has the features you need to help secure the financial future you want. 

An APY that’s 8x the national average savings rate.4

Once you set up direct deposit or add $5,000 every 31 days, you can take advantage of up to 3.30% APY.2

Make unlimited transfers.

With SoFi, there are no limits on the number of transfers you can make—and no account fees. 1

Overdraft coverage without the fees.5

If you’re short on a purchase, we’ll cover you up to $50 with no fee.



Joint account awards mean one thing.

You’re sharing a really, really good bank account.


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{/* Simply better together */}

Simply better together.

Savings and checking together just makes sense. Opening a joint savings account with SoFi means you’ll get a joint checking account too, and vice versa. You’ll earn up to 3.30% APY on your shared savings account with eligible direct deposit. Terms apply. You’ll also earn up to 0.50% APY on your shared checking account2. Terms apply. Plus, both account holders can receive their paychecks up to two days early with direct deposit.6


Open an account


{/* Joint account or individual account? */}

JOINT BANK ACCOUNT

Joint account or individual account? Have it both ways.

You asked for it, so you got it! In the coming weeks, every SoFi Checking and Savings member will have the option to hold both an individual and joint account. This is just one of many upgrades to come as we make our award-winning banking better for families, so stay tuned.


{/* APY Chart*/}

Experience 8x the national average savings rate with no minimum balance.

Our joint bank accounts come with up to 3.30% APY on savings when you set up eligible direct deposit or add $5,000 in qualifying deposits every 31 days2. Terms apply. That means you’ll earn more interest in five weeks than you would in a year with a big bank. Plus, there are no maintenance or transfer fees.1 Start banking better, together, today.


Open an account


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{/* Our benefits are big enough to share */}

Our benefits are big enough to share.

When you set up a joint banking account, you and your partner both get in on all that SoFi has to offer.

There are no account fees1 or minimum balances.

We don’t charge maintenance fees or require minimum balances on joint bank accounts.

Get paid up to two days early.6

By setting up direct deposit, both account holders can receive their paychecks up to two days early.

Meet your joint savings goals with Vaults.

SoFi Vaults give account holders the chance to save money toward a specific goal. Whether you want to save up for a vacation or a future wedding, Vaults can help.

Manage everything through the app.

Through the SoFi banking app, account holders can easily log in to check their balance, make deposits, transfer money, and receive helpful insights. 

Earn more on debit card purchases.

Up your savings with Roundups. Each debit card purchase will be rounded up, and the remainder will be added to a savings Vault of your choice.

Access 55,000+ fee-free ATMs.7

Use your SoFi Debit Card anywhere Mastercard is accepted, and get access to over 55,000 ATMs without extra fees.


{/*How to set up a joint bank account with sofi*/}

    How to set up a joint bank account with SoFi.

  • Provide the basics.

    Answer a few questions on our website or mobile app. It should take 60 seconds or less.

  • Add a joint account holder.

    We’ll send your partner an application to fill out. Once they complete it and you approve it, they’ll become a joint owner of the account. 

  • Set up direct deposit.

    Set up eligible direct deposit to unlock the best of SoFi, like up to 2-day-early paycheck6, no-fee overdraft coverage5, and an up to a $300 cash bank bonus!3 Terms apply. More information here.

  • Start banking better, together.

    Watch your money grow with up to 3.30% APY2 on your joint SoFi Checking and Savings account, without account fees.1


    • Open an account

{/* Meant to be */}

Meant to be.

Are you two ready to take the next step? Open a joint bank account online to get started today!


Open an account


{/*FAQs*/}

FAQs


How does a joint account work?

A joint bank account gives designated account holders complete and unlimited access to the account. Account holders can contribute, withdraw, and transfer money to and from their shared checking and savings accounts. 

Learn more: What Is a Joint Bank Account?


How do I add someone to my account?

With SoFi, it’s easy to add anyone to your account. Simply visit your Checking and Savings dashboard, go to “More,” and select “Joint account holder.” The person you choose will receive an invitation, complete an application, and then you will need to approve their access. 


Does a joint account holder need to be an adult?

You must be 18 years or older to apply for a joint bank account with SoFi. 


How do I get a debit card for my joint account holder?

Once you open a joint account with SoFi, you’ll need to wait at least 7-10 business days for your debit card to arrive. 


Can I combine two SoFi Checking and Savings accounts into one joint account?

Combining two individual accounts into a joint account is currently not possible. Instead, the primary account user must send the secondary account user an invitation to create a new profile. Once they accept the invitation, the second user will be added to form the joint account.


How does overdraft coverage work on joint accounts?

As long as you have monthly direct deposits of at least $1,000, you will have overdraft coverage of up to $50 total.4 However, if one account holder disables overdraft coverage, it will affect the other user. 


How much is FDIC insurance for a joint account?

Both SoFi joint bank account holders receive FDIC insurance up to $250,000, for $500,000 in total coverage.1 SoFi Checking and Savings members can get additional FDIC insurance up to $3M by enrolling in the SoFi Insured Deposit Program. The total amount of FDIC insurance for your account under this program is limited to $3M.6



Can I have a joint account and an individual account?

Yes! All SoFi Checking and Savings members can now hold both an individual and joint account.


{/* More resources on joint bank accounts */}

More resources on joint bank accounts





SoFi > Banking > Joint Bank Account

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Sep
11
2023

Sam Online Insurance Refresh

By | Uncategorized | Comments Off on Sam Online Insurance Refresh


SOFI PROTECT

Help protect what
matters most.

We’ve teamed up with top companies to help you find the right insurance at the right price.


Explore coverage

Get coverage you can count on.


Quickly find and compare personalized quotes with Experian®. You could save $961 per year1 on average when you switch policies.


Learn more

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Term life insurance starts at just $5 a month2 through Ladder. It’s easy to understand and quick to set up—no medical exams required.3


Learn more

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Easily compare quotes to find the best deal with Experian®. You could save $1,152 per year4 on average by switching your home and auto insurer.


Learn more

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Find simple, affordable, customized renters insurance with Experian®. See quotes from the top insurers in under five minutes.


Learn more

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NEW! CYBER INSURANCE

Save your savings from cyber attacks with insurance from Blink℠ by Chubb®.

The internet can be a dangerous place for your money. Get up to $10K in coverage for as low as $5.28/mo. to protect yourself against everything from identity theft to cyber extortion.


Learn more


Easily create and manage your estate plan.

For a limited time, get 15% off a trust, will, or guardianship through Trust & Will.*


Learn more


The service provides forms for your use, not legal advice. Using these documents is not a substitute for obtaining legal advice.

Articles and resources








See more

{/* FAQs */}

FAQs


What is renters insurance?
Renters insurance is a safety net for you and your stuff. Along with loss or damage due to theft, fire, vandalism, some types of water damages, like burst pipes, and other bad things (“perils” in insurance-speak), it can also cover temporary living expenses if your home becomes unlivable, and certain non-physical fees (such as medical or legal fees if someone claims to be injured due to your actions or negligence).


Who is Experian® Insurance Services, and why has SoFi teamed up with them as an insurance provider?
Experian® Insurance Services is our trusted resource for renters and homeowner insurance. Sharing our values of transparency and forward-thinking technology, Experian® offers a seamless insurance shopping experience so you can rest easy knowing you have the right insurance coverage at the right price. You can compare rates from up to 40 top insurance providers in just minutes and easily switch if you find a better deal.


How much homeowners insurance coverage do I need?
Short answer: Depends on your lifestyle needs and ability to pay up-front. You’ll have to adjust your coverages by taking into account ​the amount that it’d take to rebuild your home, how much personal stuff you have, and how much personal liability coverage you’ll want.


Where can I learn more about Experian®?
Check out our home and renters FAQ ,​ or feel free to reach out to the Experian® team: [email protected].


What is homeowners insurance?
Homeowners insurance is a contract between you and your insurer to protect you, your family, and your property from a list of bad stuff that can cause damages or losses. It protects you from a range of things – from your actual home and property to stuff you may accidentally do to other people even when you’re not at your place​.


How much renters insurance coverage do I need?
Short answer: Depends on your lifestyle needs and ability to pay upfront. Basic renters insurance policies start with $10,000 worth of personal property coverage, and most people get around $30,000 worth of personal property coverage.


Where is Experian® available?
Experian® is currently available in all 50 states.


What kind of documents and info do I need to apply for homeowners insurance?
You’ll need to answer a few questions, including the address of the property you’re insuring, and any mortgage docs and lending info you have for your property. You’ll get a quote in minutes!


What kind of documents and info do I need to apply for renters insurance?
Just your address (and some quick questions about you!) It can take you less than 5 minutes to get a policy.


See all FAQs



Insurance made easy.

You could get covered online in minutes.


Explore coverage

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SoFi Daily

Stay up to date on the latest business news and stock market happenings.

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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)

✝︎ To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

INVESTMENTS: NOT FDIC INSURED • HAVE NO GUARANTEE • MAY LOSE VALUE. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. The SoFi Wealth platform is operated and maintained by SoFi Wealth LLC, an SEC Registered Investment Advisor. Brokerage services are provided to clients of SoFi Wealth LLC by SoFi Securities LLC, an affiliated broker-dealer registered with the Securities and Exchange Commission and a member of FINRA /SIPC . Clearing and custody of all securities are provided by APEX Clearing Corporation. For more information, please see SoFi Wealth LLC’s Form ADV Part 2 by clicking here for SoFi's Wealth Form ADV Part 2 A&B or by visiting www.adviserinfo.sec.gov .
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