Credit cards. They’re just small, rectangular pieces of plastic, yet have the ability to help people prosper—or cause unexpected financial damage. SoFi members Peter and Gloria Hoch of St. Louis, Missouri, know something about that. Together for 36 years, the couple racked up about $23,000 in credit card debt in just over five years.
Read moreThe following examples depict the APR, monthly payment and total payments during the life of a $30,000 personal loan. All personal loan APR 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 |
|---|---|---|---|---|---|
| 2 Years | None | 7.74% – 35.49% | 24 | $1,353.26 – $1,763.32 | $32,478.34 – $42,319.74 |
| 3 Years | None | 7.74% – 35.49% | 36 | $936.50 – $1,365.41 | $33,713.89 – $49,154.90 |
| 4 Years | None | 8.23% – 35.49% | 48 | $735.63 – $1,178.04 | $35,310.28 – $56,545.80 |
| 5 Years | None | 9.50% – 35.49% | 60 | $630.06 – $1,074.14 | $37,803.35 – $64,448.26 |
| 6 Years | None | 10.56% – 35.49% | 72 | $564.28 – $1,011.27 | $40,628.47 – $72,811.45 |
| 7 Years | None | 11.90% – 35.49% | 84 | $527.98 – $971.20 | $44,350.23 – $81,581.10 |
Editor’s Note: The following article on home renovation and budgeting originally appeared on our web partner Houzz’s website. Some of the content has been slightly edited from its original version, and is written from the perspective of a home designer.
The budget conversation — it’s sometimes awkward, often slightly uncomfortable and usually comes with a bit of anxiety. Because of the nature of construction, things often cost more than what homeowners think. There are endless debates on why that is, but the result is that we designers often have conversations with our clients that end with an awkward silence. The silence usually means that certain aspects of the project might be out of our clients’ reach. And truth be told, we really don’t like being the messenger in these conversations. We want our clients to be satisfied with the process and get what they really want.
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Are you paying more than 11% interest on your credit cards? A SoFi Personal Loan could help you save thousands. With a low fixed rate and monthly payment, you can pay off high interest debt, like credit cards, or make a major purchase. It only takes minutes to apply.
Looking to buy a home SoFi can help with that.
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