SoFi Mortgage Refinance Review


Rating: 8.7 / 10 (Excellent)
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How is SoFi rated?
9/10
Mortgage Types
9/10
Qualifying
9/10
Mortgage Related Fees
8/10
Financial Reputation
9/10
Reviews and Support Service
0/10

SoFi is a marketplace lender that provides financing services for personal loans, mortgage and mortgage refinancing. SoFi specializes in assisting professionals with student loan refinancing, personal loans and mortgages. It offers a convenient online application process where homeowners are matched with individual and institutional investors.  

Types of Home Refinancing Mortgages

  • Fixed Rate Mortgages
  • Adjustable Rate Mortgages

Qualifying for Mortgage Refinance

Qualifying for mortgage refinance can be a bit tricky for those with poor credit scores. Because applications are reviewed by individual or institutions who have a lower risk profile compared to banks or mortgage lenders, getting approved might be more difficult.

Credit Score

620 or better

Income to Debt Ratio

50% or more

Years Employed

2 years

Loan Terms

Up to 30 years

  • Age of majority in your state
  • Homeowner or co-signer is a US citizen or permanent resident

 

Refinance Mortgage Rates

SoFi offers mortgage refinance services for up to 80 percent of the home’s value.  Percentage points for mortgage rates shift for more than 1 percentage point so be sure to check this with your mortgage lender.

Why Mortgage Refinance at SoFi

SoFi mortgage refinance offers some of the most competitive mortgage rates in the market today. It also offers a more complete approach to the loan qualifying process which increases your chances of getting better mortgage rates. However, this only awards those with good credit ratings so qualifying for a loan can be difficult. SoFi is definitely a good choice for homeowners with good or average credit scores searching for competitive mortgage refinance rates.  

 

 

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Latest Reviews

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D
Denise
Herndon, Virginia
3/7/2017
Way too much personal information, information that is irrelevant to a mortgage loan up front. Do not contact me! It's one thing to provide name/address/phone number it's another to start asking personal questions such as education level. How about sofi get to know their customer regardless of income or education level. Btw, I am educated, I have a 745 mortgage score & 200k annual income! The questions you require lead me to believe this information will be used to benefit sofi not the customer. I want to know why people are skeptical..... Educate yourself on the mortgage collapse when thousands were under supported and lost a home due to greed within the industry. Consider how educated... Read More