Services
Loan Products - Purchase and Refinance
30-Year Fixed
A 30-year fixed loan offers a low monthly payment over a longer period of time. It's an attractive option to maximize payment flexibility.
20-Year Fixed
A 20-year fixed rate loan offers more payment flexibility compared to a 15-year mortgage without extending the term to 30 years.
15-Year Fixed
A 15-year fixed rate loan maximizes interest savings by aggressively paying off the loan quicker.
Adjustable Rate Mortgage (ARM)*
An adjustable rate mortgage may have features that allow for the interest rate and payments to be fixed for an initial period, and adjust periodically after.
FHA Loan*
The Federal Housing Administration offers excellent mortgage products for new home buyers and refinancing.
Conventional Loan
A mortgage loan insured by Fannie Mae or Freddie Mac with a maximum conforming loan limit of $726,200.
VA Loan*
SoFi Home Loans is proud to be able to offer government-insured Veteran Administration loans to our military veterans.
Jumbo Loan
A loan amount which is larger than the conforming and/or high balance conforming loan limit
HELOC*
Short for Home Equity Line of Credit, a HELOC is a revolving line of credit that allows homeowners to draw, as needed, and borrow against the equity in their property.
HELOAN*
Short for Home Equity Loan, a HELOAN is a lump sum loan where the borrower receives a one-time disbursement of funds and repays in fixed installments.
The mortgage industry is always changing! There are other loan products available. Contact me for more information.
Disclosures
- Adjustable Rate Mortgages (ARM): ARM interest rates and payments are subject to increase after the initial fixed-rate period (5 years for a 5y/6m ARM, 7 years for a 7y/6m ARM, and 10 years for a 10y/6m ARM; the 6m shows that the interest rate is subject to adjustment once every six months thereafter).
At the end of 60 months (5y/6m ARM), 84 months (7y/6m ARM), or 120 months (10y/6m ARM), the interest rate and monthly payment adjust. At adjustment, the new mortgage rate will be the average of the Interbank offered rates for one-year, U.S. dollar-denominated deposits in the Secure Overnight Financing Rate (SOFR) as published on the New York Fed website, plus a margin of 2.75% subject to annual and lifetime adjustment caps.
- FHA Loans: FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.
- VA Loans: Veterans, Servicemembers, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.
- HELOCs and HELOANs: SoFi Bank, N.A. NMLS #696891 (Member FDIC), offers loans directly or we may assist you in obtaining a loan from SpringEQ, a state licensed lender, NMLS #1464945. All loan terms, fees, and rates may vary based upon your individual financial and personal circumstances and state. You should consider and discuss with your loan officer whether a Cash Out Refinance, Home Equity Loan or a Home Equity Line of Credit is appropriate. Please note that the SoFi member discount does not apply to Home Equity Loans or Lines of Credit not originated by SoFi Bank. Terms and conditions will apply. Before you apply, please note that not all products are offered in all states, and all loans are subject to eligibility restrictions and limitations, including requirements related to loan applicant’s credit, income, property, and a minimum loan amount. Lowest rates are reserved for the most creditworthy borrowers. Products, rates, benefits, terms, and conditions are subject to change without notice. Learn more at SoFi.com/eligibility-criteria. Information current as of 03/12/25. In the event SoFi serves as broker to Spring EQ for your loan, SoFi will be paid a fee.
Terms and conditions apply. Before you apply for a SoFi Mortgage, please note that not all products are offered in all states, and all loans are subject to eligibility restrictions and limitations, including requirements related to loan applicant’s credit, income, property, and loan amount. Minimum loan amount is $75,000. Lowest rates are reserved for the most creditworthy borrowers. Products, rates, benefits, terms, and conditions are subject to change without notice. Learn more at SoFi.com/eligibility-criteria. Information current as of 3/12/25.
SoFi Mortgages originated through SoFi Bank, N.A., NMLS #696891 (Member FDIC), (www.nmlsconsumeraccess.org). Equal Housing Lender. SoFi Bank, N.A. is currently able to issue and refinance mortgages in all states except Hawaii and purchase only for New York.
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