SoFi Mortgage Review
See how often this lender beats the typical offer on 2025 loans.
How Bankrate scores SoFi Mortgage
- Price competitiveness
How often this lender's borrowers pay at or below the typical price for a comparable loan.
3 out of 5 - Amount of overpayment
How much extra borrowers ended up paying with this lender compared to the best price for a comparable loan. A higher percentile score is always better.
1 out of 5 - Customer complaints
How often consumers complain about this lender, and whether they get relief.
4%2 out of 5 - Where and what they lend
How many states and loan types this lender serves.
97%5 out of 5
No lender can pay for a higher Bankrate Rating. Every score comes from the same data and criteria.
2025 ratings, across all four measures
A few more details worth knowing
Though these don't affect the star rating, we show them so you have the full picture.
For applicants age 62 and older, we measure two things: whether this lender denies them more often than its own lending patterns would predict after accounting for loan size, income, debt-to-income ratio, and loan type; and whether it lends to them at rates similar to comparable lenders. Both of those measures fell outside the expected range. Credit scores are not available in this dataset, so they are not included in the analysis. Because that variable is held constant across all lenders, it should reduce the extent to which missing credit-score data affects comparisons between them.
We looked at how often a lender's applications end up as closed loans, not counting any that were denied or the applicant withdrew. At this lender, fewer than 90% did, which might mean quoted terms changed before closing, applicants stepped away, or both.
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What Bankrate's editors think
SoFi is a digital banking platform that also offers mortgages. It posts sample rates online, and members get $500 off the standard $1,495 origination fee, plus another $500 with direct deposit or a SoFi Plus subscription. There’s also up to $9,500 cash back for using one of SoFi’s vetted real estate agents, and up to $10,000 in closing-cost credit if a delay is SoFi’s fault. Average purchase closing time is 32 days.
This company is known for its borrower perks, but there’s a catch. SoFi’s pricing is only average — about 47% of its 2025 mortgages were priced below comparable loans — and it charges less in added costs than only about 20% of comparable lenders over eight years, the real driver of its low overall score. Origination-related CFPB complaints are slightly elevated as well.
About half of approved SoFi mortgages don’t make it to closing, an extremely poor ratio. Mortgages can fail to close for many reasons, some beyond a lender’s control, such as an applicant walking away. But with such a high ratio, it’s worth asking SoFi about its closing process.
As an online-only lender, there’s no branch to walk into — that could be fine if you’re comfortable managing things digitally, but less so if you want in-person guidance.
At a glance
Good for current SoFi members who want a fee discount and an entirely online process. Not a good fit if you want in-person guidance or need confidence that your loan will actually reach closing — SoFi charges more in added costs than most lenders we rate, and about half of its approved mortgages don’t close.
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Figures are drawn from public lending and complaint data and weighted by loan volume.
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