This can be certainly one of SoFi’s more present item offerings. They’re providing mortgages of as much as $3 million with as low as 10% for a advance payment (|payment that is downbut refinances cannot surpass 80% associated with the home value).

many loan providers require personal home loan insurance coverage (PMI) anytime you create a advance payment of less than 20%? SoFi doesn’t have that requirement.

Dedicated Home Mortgage Originator. There’s another advantage that is major getting the home loan through SoFi. Unlike some online lenders, you’ll have actually a separate home loan originator to assist you through . That adds a person touch towards the experience that is online.

Fast Application Process. As it is the full situation along with other SoFi loans, you could get prequalified in only a matter of moments. Then you’re able to choose the loan you prefer, complete an application that is full upload your paperwork, and signal your documents electronically.

From application to capital, the procedure is generally speaking finished within thirty days.

Loan programs incorporate a 5/1 Interest-Only adjustable-rate home loan (supply), 30-year Fixed price home loan, 15-year Fixed and 7/1 ARM, aided by the after prices at the time of December 15, 2017:

Additionally they supply a mortgage calculator that is handy. It will probably allow you to run purchase that is different loan situations future purchase or refinance.

Loan charges. origination costs with no prepayment charges. 30 time price hair can be found. Standard closing that is third-party will likely to be needed

Loan Availability. SoFi mortgages can be purchased in all continuing states, except Massachusetts, Missouri, Ohio, sc and western Virginia.

Eligible Characteristics. Owner-occupied main residences and 2nd domiciles. This consists of single-family houses, condominiums, two-unit houses, co-ops and unit that is planned (PUDs). keep reading