SoFi Mortgage Review 2026

SoFi overview

Since 2014, SoFi has funded more than $9 billion in mortgages. The online-only, membership-based financial services company has more than 12 million members who take advantage of everything from credit cards to wedding loans. SoFi offers conventional and government-backed mortgages, as well as jumbo loans and refinancing options. The lender has an average purchase loan closing time of 32 days.

Pros and cons of SoFi

How Bankrate scored SoFi

Affordability: 5 stars

Because of SoFi’s low APRs, low down payment mortgage options and participation in affordable housing programs, it gets a perfect 5 out of 5 stars for affordability.

• Interest rates: SoFi offers competitive mortgage rates, with APRs significantly below the national average at the time of this review.
• Down payment: SoFi offers VA loans with no down payment, FHA loans with 3.5% down and conventional loans with just 3% down if you're a first-time homebuyer. Repeat homebuyers getting a conventional mortgage must put down at least 5%. 
• Fees: SoFi charges an origination fee of $1,495, but members may qualify for a $500 discount off that amount.

Availability: 5 stars

SoFi offers conventional and government-backed loans and is available in all states, so it scores 5 out of 5 stars for availability.

• Home loans offered: SoFi offers conventional loans, jumbo loans, FHA loans, VA loans, refinancing and more.
• Footprint: You can get a mortgage from SoFi in every U.S. state and Washington, D.C. Only purchase loans are offered in New York.
• Where to find: SoFi is online-only, so you’ll have to go through the mortgage process on their site or in their app.

Borrower experience: 4.3 stars

SoFi has many convenience factors, such as a mobile app and e-closing capabilities, and shows sample rates online. However, to receive a customized rate, you’ll have to submit your contact information. Because of this, it scores 4.3 out of 5 stars for borrower experience.

• Application and preapproval process: You’ll start the preapproval process with SoFi online by submitting your personal financial information. Once preapproved, SoFi will give you a verified letter that you can show sellers when you make an offer on a home. Once you have a signed purchase agreement, you will begin the mortgage application and underwriting process.
• Transparency: SoFi displays general rates and APRs on its site, but to get a more accurate rate quote, you’ll need to submit your contact information.
• Customer service: With SoFi, you can contact customer service by phone or online chat. The home loans support line is (844) 763-4466, and service hours are Monday through Friday from 6 a.m. to 3 p.m. PT.

SoFi reputation

SoFi is not accredited with the Better Business Bureau, but it has received an A+ rating from the organization. It also gets a “Great” rating on the review site Trustpilot. SoFi is a digitally focused company, and its mobile banking app is among the top 50 finance apps in the Apple App Store, where it has 4.8 out of 5 stars at the time of this review.