Where does SoFi do business?

SoFi is a direct lender based in San Francisco, CA. The company was founded in 2011 and offers mortgage refinancing to borrowers in 42 statess across the USA (and Washington, DC).

What is the maximum loan term for a mortgage refinance via SoFi?

The term of a mortgage refinance will determine the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. SoFi offers mortgages refinancing with terms ranging from 15 to 30 years.

Does SoFi charge a mortgage origination fee?

Yes, SoFi may charge a loan origination fee.

Does SoFi charge prepayment fees?

Yes, SoFi charges additional fees to borrowers who pay off their home loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment fees can reduce or even cancel the interest savings of repaying a loan early.

What property usage types does SoFi allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. SoFi allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties 

  • Intended Use
    • Primary Home
    • Secondary Home
  • Loan Amount
    Up to $3000000
  • Loan Term (Years)
    15 - 30
  • APR
    Starting at 3.377%
  • Terms
    5/1, 7/1, 15, 30 years
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