The bottom line: SoFi is a legitimate online lender that offers student loan refinancing and private student loans. Its refinancing loan is best for borrowers who want plenty of benefits with their refinanced student loan. Its private loan is best for flexible repayment options and no fees.
Besides, does SoFi do mortgage refinancing?
Refinance Your Mortgage with SoFi
At SoFi, you can choose between 15- and 30-year mortgages and either fixed or adjustable interest rates, so you can choose the option that works best for you. Get a quote from SoFi to see how refinancing your mortgage could improve your interest rate.
Additionally, does SoFi hurt your credit?
Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. A hard credit pull, which may impact your credit score, is required if you apply for a SoFi product after being pre-qualified.
Which is better SoFi or LightStream?
In general, we recommend LightStream for borrowers who want two, four or six year loan terms or a vehicle/auto loan. On the other hand, SoFi is good for those borrowers who want to bundle financial products or want a personalized touch during the borrowing process.
How much are closing costs with SoFi?
On average, mortgage origination fees are about about 0.5% to 1% of the total loan amount —but with additional fees, your closing costs could be 2% to 5% of the total loan.
What are current SoFi mortgage rates?
National Average Rates
| Product | Today | Last Week |
|---|---|---|
| 30 year fixed | 3.12% | 3.12% |
| 15 year fixed | 2.45% | 2.44% |
| 5/1 ARM | 2.66% | 2.62% |
| 30 yr fixed mtg refi | 3.10% | 3.07% |
Is SoFi a good lender?
And unlike many lenders, SoFi doesn’t even charge a fee for late payments. Because of their cheap APR and lack of fees, SoFi scores extremely well in this category. They also score well for having big loans (up to $100,000), with as long as 84 months to pay them off.