As the risk of natural disasters rises, home insurance premiums are becoming more expensive, leading some homeowners to forego them altogether.
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Homebuilders are building smaller, more affordable homes to help compensate for the higher cost of home ownership.
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Active personnel, veterans, and reservists dreaming of a home can turn to VA home loans for
exclusive rates with no down payment requirements.1 Plus, you’ve been invited to receive an exclusive $500 bonus.5
View your rate
Checking your rate will not affect your credit score.†
*See terms and conditions below. VA funding fee applies, unless exempt.
Unlike other lenders, we won’t charge you an origination fee for VA loans.*
We know time is of the essence. That’s why we guarantee you’ll close on-time, backed up by $5,0003.
Borrow up to $1.5 million and choose from fixed- or adjustable-rate4 mortgage options.
SoFi allows a lower minimum FICO® score for VA loans.
Saving for a down payment on a home loan can be daunting. That’s why we don’t require a down payment for VA home loans.
Our dedicated MLOs are here to help you through the VA home loan process.
Whether you have less-than-perfect credit or less cash on hand for a down payment, an FHA loan1 can help you finance the home you want.
Get pre-qualified
Checking your rate will not affect your credit score.†
FHA loans are backed by the Federal Housing Administration (FHA) and offered by private lenders like SoFi. FHA loans provide would-be buyers with fair credit the opportunity to buy a home. These government-backed loans typically have lower interest rates and require a low minimum down payment of just 3.5%. With SoFi, you can borrow up to $472,030 in most places, and up to $1,089,300 in certain counties. Because of their relatively lax qualification requirements, FHA loans can make great options for first-time home buyers.
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Buying a home is a big deal, and timing is everything. We guarantee we’ll close your loan on time, backed up by $10,000.2
We offer a wide range of FHA mortgage options, so you can choose from the option that works best for you.
Still working on building your credit? That’s alright. SoFi allows a lower minimum FICO® score for FHA loans.
The minimum down payment for FHA loans is as little as 3.5%.
Before you apply for an FHA loan, make sure you understand the requirements for this type of mortgage.
The property you choose for an FHA loan must be your primary residence. You can’t use this type of loan to finance other types of real estate, like an investment property or vacation home.
The Federal Housing Administration only requires a 3.5% minimum down payment, which can make FHA loans great for first-time homebuyers or those with less money saved up.
Borrowers must pay a Mortgage Insurance Premium (MIP), an insurance policy protecting the lender in case the borrower defaults on the FHA loan.
You must prove you have verifiable income with proper documentation, like pay stubs, bank statements, or tax returns, to qualify for an FHA loan.
FHA loans have more lenient credit score requirements than traditional home loans. SoFi allows a lower minimum FICO® score for FHA loans.
View your rate
Applying for a FHA loan with SoFi is straightforward and simple. You can complete the whole process online and talk to a Mortgage Loan Officer whenever you need help.
Pre-qualifying for an FHA loan is quick, painless, and all online. Find out what rates you qualify for in minutes.
After pre-qualifying, you can choose the FHA loan terms that make the most sense for your budget.
Once we finalize your loan application, we’ll fund your loan. Homeownership is right around the corner!
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“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
Obtaining an FHA loan with SoFi is easy. You’ll need to meet specific eligibility criteria, like a 3.5% minimum down payment, though SoFi allows a lower minimum FICO® credit score for FHA loans. From there, you can pre-qualify online in minutes. Then, it’s just a matter of choosing the loan with terms that work for you, finalizing your loan application, closing your offer and receiving the funds.
How fast is an FHA loan approved?
FHA loan application approval can take anywhere from a few weeks to a few months. This timeline includes the whole process, starting from the moment you submit the application. FHA loan approval time varies for each person and depends on factors like the borrower’s financial status and the loan amount.
How much credit do you need for an FHA loan?
SoFi allows a lower minimum FICO® credit score for FHA loans.
For FHA loans, there is no requirement for years of income. However, you will need to provide documents showing you have a reliable, verifiable source of income and can afford the payments on your loan.
Can an FHA loan be denied after pre-approval?
It is possible for a lender to deny an FHA loan after pre-approval. Pre-approval doesn’t guarantee final loan approval. Negative changes in the borrower’s income or credit score after pre-approval may impact approval odds.
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Take the first steps to homeownership today. Get prequalified for an FHA loan online.
Get pre-qualified
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