With low rates and fixed monthly payments, you can focus less on the cost and more on the completion date. Whether remodeling the kitchen, replacing the roof, or landscaping the backyard, SoFi can help you pay for improvements to make your home sweet home. It only takes minutes to check your rates.
No need to wait weeks for an appraisal. Get pre-qualified instantly and receive your funds fast so you can get started right away.
Unlike some home equity loans, there are no origination fees, no closing costs, and no costly home appraisals.
Without equity, it’s hard to get a HELOC on a new home. With SoFi, your home is not on the line.
Borrow what you need—as little as $5,000 or as much as $100,000.
Many people think of home equity when it comes to borrowing larger amounts, but home equity loans typically have a lengthy approval process and potentially lots of fees, including getting your home appraised. The ease of obtaining a personal loan makes it an appealing alternative to a home equity loan. Plus there’s no collateral, so you don’t have to put your home on the line when you borrow. And with SoFi you can borrow up to $100K, unlike some other online lenders that max out at $35K.
|SoFi Personal Loan||Home Equity Loan|
|Instant Online Application|
|Receive Funds Within a Week|
|No Origination Fees|
|No Pre-Payment Penalties|
|No Home Appraisal|
|No Home Equity Required|
|Low Rates Secured by Your Home|
|No Late Fees|
Get pre-qualified online with no hidden fees and no obligation.
Choose the loan that works for you and complete your application.
Sign your documents and funds are deposited to your account.
The following examples depict the APR, monthly payment and total payments during the life of a $30,000 personal loan. All rates below are shown with the Autopay Discount (0.25%)5. Your actual interest rate may be different than the rates in these examples and will be based on term of loan, your financial history and other factors. State restrictions may apply .
Fixed Rate Loans
|Term||Origination Fee||Rate (APR)||No. of Payments||Monthly Payment||Total Payments|
|3 Years||None||5.490% - 12.240%||36||$905.74 - $999.87||$32,606.64 - $35,995.32|
|4 Years||None||6.250% - 12.740%||48||$707.99 - $800.96||$33,983.52 - $38,446.08|
|5 Years||None||7.075% - 13.240%||60||$595.10 - $686.28||$35,706.00 - $41,176.80|
|6 Years||None||7.875% - 12.875%||72||$524.17 - $600.25||$37,740.24 - $43,218.00|
|7 Years||None||8.325% - 13.490%||84||$472.46 - $553.78||$39,686.64 - $46,517.52|