SoFi is a direct lender for conventional and jumbo loans. Though they don't offer any government-backed loans, such as VA or FHA, SoFi does have a series of other perks, such as networking opportunities and career counseling services. Additionally, SoFi only offers one adjustable rate product, which may be a limiting factor depending on the homeowner's situation.

SoFi's qualifying criteria tends to be more stringent than other, comparable lenders, as most of their approved loans go to borrowers with high credit scores and solid incomes. However, the benefits of their excellent rates, flexibility, and limited lender fees can outweigh their slightly stricter requirements. The application process is simple and quick, and can be done completely online.

SoFi enjoys an excellent reputation in the lending community, with high credit ratings and a reputation for excellent customer service. They have zero regulatory actions with the Nationwide Mortgage Licensing System, and and exceptionally high TrustPilot score (which is fully customer-based).