Online lending platform SoFi announced on Thursday it has refreshed its mortgage offering as SoFi Home Loans. The lender reported that the offering is complete with a re-engineered process that helps people buy or refinance a home with an online application, no hidden fees, or prepayment penalties.
According to SoFi, the new SoFi Home Loans offering is built around a fast and easy application process. Applicants can pre-qualify in as little as two minutes online without any impact to their credit score. SoFi supports members throughout the search and home buying experience by offering a dedicated support team to help them with every step of the journey.
“SoFi Home Loans offer competitive rates including affordable down payments, with as little as 10% down on loans up to $3 million, with no hidden fees or prepayment penalties. SoFi allows applicants to choose between four different loan terms and fixed or adjustable rates. Those interested in refinancing can choose between traditional mortgage refinancing, cash-out refinancing, and student loan cash-out refinancing. If SoFi Home Loans isn’t able to handle a loan request, SoFi provides an easy option to digitally transfer member information to its affiliate partner who may be able to help.”
While sharing more details about the offering, SoFi CEO, Anthony Noto, stated:
“For most people, buying a home is the most important financial decision and, at the same time, the most complicated and stressful one they’ll ever make. We’ve taken everything we’ve learned in making lending convenient and painless, and brought it to SoFi Home Loans.”
SoFi went on to add that its membership, which comes with usage of any SoFi product, offers benefits including exclusive events across the country, complementary financial planning, and career coaching through an exclusive partnership with Korn Ferry. Members also receive rate discounts on additional SoFi loans of a different type.