SoFi Mortgage Refinance

SoFi Mortgage Refinance Review

SoFi Mortgage Refinance is offered by SoFi (NMLS #1121636), a nonbank financial services provider founded in 2011 and based in San Francisco, CA. SoFi Mortgage Refinance are available in 42 states (and Washington, DC).

Key Takeaways

• Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
• Non-standard interest rates available. SoFi Mortgage Refinance only offers hybrid mortgages.
• Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.

SoFi Mortgage Refinance Pros & Cons

Pros	Cons
Available in 42 states.	Charges an origination fee. Charges prepayment fees.

SoFi Mortgage Refinance FAQ

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

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

How long does SoFi Mortgage Refinance take to refinance?

SoFi Mortgage Refinance does not provide details on the average time to close a refinance. However, it typically takes 30 to 45 days to complete a refinance. Of course, a lot depends on the market, the lender, and how long appraisals and inspections take.

Does SoFi Mortgage Refinance charge a mortgage origination fee?

Yes, SoFi Mortgage Refinance will charge a loan origination fee.