Reviews
SoFi Mortgage review: how does it work and is it good?
Keep reading if you're looking for a mortgage broker that provides personalized service at competitive rates. We'll discuss the pros and cons of choosing SoFi mortgage over other lenders.
Advertisement
SoFi Mortgage: Refinance up to 80% of the value of your house
If you are in the market for a mortgage or looking to refinance one, The SoFi Mortgage review can be the guide you need.
How to apply for SoFi Mortgage
Do you want to apply for a mortgage with SoFi mortgage? Read on to a complete guideline that covers all you need to know.
In this article, we’ll look at what SoFi is, how it works, and whether or not it’s a good choice for you. Stay tuned to learn more!
| Credit Score | Conventional: 620; Jumbo: 700. |
| Loans Offered | Purchase, Refinance, Fixed, Adjustable. |
| Minimum Down Payment | The minimum down payment is 3% for first-time home buyers; There is a minimum down payment of 5% for all other borrowers. |
| APR | The APR differs depending on the term and is updated daily on the SoFi mortgage website. |
| Terms | 10,15, 20, or 30 years. |
You will be redirected to another website
You’ll receive messages for less than 1 week, with a maximum of 1 message per day. You can unsubscribe anytime by replying STOP. By submitting this form, I confirm that I am 18+ years old and agree to the Privacy Policy and Terms and Conditions. I also provide my signature, giving express consent to receive informational messages via automated emails, SMS, MMS text messages, and other forms of communication. Message frequency may vary as part of our good-faith effort to respond to your inquiry. Message and data rates may apply. Text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and that I may revoke my consent at any time.
Advertisement
What is the SoFi Mortgage?
The SoFi Mortgage is a way to finance or refinance a property. For new home buyers, it offers options of a 3% down payment.
The loan terms range from 10 to 30 years with fixed rates that vary depending on how long you’ll pay for it.
SoFi Mortgage is available in almost all states in the U.S, except for Hawaii. This lender also doesn’t offer government-backed mortgages, such as FHA loans.
With So-Fi cash-out, you can borrow up to 80% of the house value for refinancing. Plus, up to 95% for mortgage refinancing.
However, the minimum mortgage amount you can borrow is $100,000, so it’s not available to everyone.
When you get a mortgage at So-Fi, you’ll automatically be qualified for a SoFi membership.
With it, you will have many advantages, such as complimentary financial plans.
You can make the application online and close the deal in about a month if everything goes according to plan.
Is the SoFi Mortgage good?
The SoFi mortgage is interesting for people looking for a more streamlined process who prefer not to fill out paper forms and can get an application online.
Getting a mortgage with them has some advantages and disadvantages. Check them out!
Advertisement
Pros
- Borrowers can make the application for the mortgage online;
- The interest rates are below average;
- The loan deal can be closed in about 28 days.
Cons
- They don’t offer any government-backed mortgages;
- The minimum amount is $100,000;
- It’s not available in some states.
Advertisement
Does SoFi Mortgage check credit scores?
A credit score is one of the most important requirements to get a mortgage since it’s a high-risk loan.
Then the minimum score for a SoFi mortgage is 620, and for a jumbo loan is 700.
Want to apply for the SoFi Mortgage? We will help you!
Are you curious to know more after the SoFi mortgage review? We can help you!
Read the post below about the application process, understand the requirements, and how to start doing it online.
How to apply for SoFi Mortgage
Do you want to apply for a mortgage with SoFi mortgage? Read on to a complete guideline that covers all you need to know.
Trending Topics
Assent Platinum Secured credit card review: is it worth it?
Looking for a secured credit card that offers quality and convenience? Then check out this Assent Platinum Secured card full review!
Keep Reading
5 best credit cards for groceries
Discover the best credit cards for groceries and their benefits, such as cashback, welcome bonus, $0 annual fee, and more. Keep reading!
Keep Reading
The Plum Card® from American Express application: How does it work?
Get approved for The Plum Card® from American Express! Master the application process with our tips. Pay early and earn 1.5% cash back!
Keep ReadingYou may also like
Solana is releasing a new crypto phone
Find out more about the upcoming Solana crypto phone, including its features and why you should be excited about it.
Keep Reading
A guide on how to manage your mortgage the right way
Managing your mortgage can be intimidating. Don't worry! We have some tips to help you learn how to easily manage your mortgage.
Keep Reading
Application for the Chase Freedom Unlimited®: how does it work?
Chase Freedom Unlimited® is a cash-back card that offers many benefits and perks. Learn how to apply and start earning today!
Keep Reading