SoFi reviews

SoFi

SoFi loans review

Reviews: 399 • Rating: 4/5

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Reviews

Jan 8, 2003
Lucas Fernandes

SoFi review

I received a letter from Green Link saying that I was from the email. I then called them and initiated the process of obtaining financing. They led me to the SoFi website and stated they would be the most suitable choice for loan and advised me to go ahead and finish the procedure for applying. I did not know that to was not associated or had a partnership with SoFi so I thought it was all normal. The whole procedure took a great deal of documentation to finish and I was working with an underwriter titles Ashley that at first was really beneficial. Near the close of the procedure of submitting the final documents and getting approved I asked Ashley if there was a way to avoid that or if the company that led me had to be paid their charge. My questions was because of them not helping at all in the approval and documentation part. To my surprise she told me that we would have to create a new account different and had no idea there was a different company involved. When I created another account it pulled my credit score again and declined my application (They should use the identical accounts for 60 days when I am not mistaken). Ashley stated she'd speak with her manager and see whether they can override that choice since I was in the process of being approved, when that occurred and all records looked great. She said she'd get back to me and allow me to know. She never did and I needed to call her for a choice. She explained there was along with the first account which was approved was auto-declined as fraud! I was caught off guard and upset that I was being punished for being honest and for not understanding that the people I first talked to were not working with sofi.com. I then called the gentleman to tell him what happened and that we were no more working. He clarified that our arrangement was under a power of attorney, and that he has no method of funds after the cash had been received by me, along with also his commission would just be due. Entirely separate. I informed him I did not wish to continue to operate with them and the said that wouldn't be a issue. I phoned Ashley to explain that I had any duties together and if there was any way we could beg for her superiors to use my original credit report for the new account or to start a new program. She stated she'd check with them and allow me to know ASAP. A week went by and no word from Ashley. I then called today to find out if I can find an update and now conveniently it is against their policy to transfer me to talk to Ashley and they can devote a call request but cannot guarantee it will be Ashley to call me back. I was working the whole time and had no issue and she left me messages to phone her back prior to the episode and no problems reaching her. Now that I am auto diminished for something that's not my fault she is handily against their policy for me to talk to her or either there. This leads me to think that I am being avoided by Ashley rather. Horrible. I want to have the approval process finished either on the accounts or account that is new under the first credit rating. All documents were approved and provided.

Jan 7, 2004
Hannah Hebel

SoFi review

Customer service over the telephone was deceiving at first. I learned that SoFi is not customer focused. Here's everything that went wrong: - Program procedure took 2 months to be refused. I had several mail threads, each time, from another person (16 threads complete ). I had to submit documents multiple times after being told my"application was whole" and at the inspection procedure. Many of which files I needed to times. Though my charge might be better (667), my co-signer has excellent credit. Not certain why a student loan got denied and my credit had been conducted for no reason. - I was told my charge had been one reason I had been refused, but my credit was run June 28th, and I am simply not being informed (July 24th) that my application was denied, once the vast majority of my time and efforts was completed after the beginning of July. Not to mention, I was told after reaching them out twice when I hadn't heard back from them, I was denied. - It was ALWAYS something. When I thought the process was completed, they would tell me I needed files. I worked giving them the files they needed inside a working day. However the procedure was prolonged as much as it had been. And of course the many of the documents were submitted to remind one, my credit score had run. - I received generic responses back When I expressed frustration and desire in their end for more timeliness. When in contact with my employer this was his answer on his expertise using SoFi:"Those people are a whole lot of yahoos. I called themgot transferred and then she wanted to check the salary information I had given them, and also to make sure my Hotmail account was a business account. They called me back an hour later for the last four of your societal, and to confirm your name. I worked in customer satisfaction research for financial services companies, and they just messed up about five ways: - Maybe not letting the individual know what info was needed ahead for the very first call - Not with a choice from the first automatic telephone menu for the department that was needed (you must press whatever and then get transferred after a grip ) - Once I pointed this out, she said *I* was fine -- that'll *** individuals off - Not verifying your identity before talking private advice (the last 4 SSN) - Missing"first call resolution" on a very simple issue" I could go on, but long story short, DO NOT WASTE YOUR TIME LIKE I DID. Go with a different lender!

Jan 8, 2008
Chris Gallick

SoFi review

I phoned sofi.com to acquire pre-approved on Thursday Aug 9th. The girl who fielded my call (man #1) was very reluctant to answer questions about mortgage loans and kept referring me to this online program. After talking with her, then I went into the SoFi homepage and started completing the 4 page pre-approval form. Their system did not let me proceed to the page since it thought I'd entered incorrect information, which I did not, after completing page . A box appeared in the bottom of page 3 suggesting if I believed that I received the message in error I call a mortgage specialist. I called the mortgage pro (person #2) who advised me that someone in-house will review my application and get back to me, but each of the mortgage specialists were gone for the weekend. (Really? , on Thursday afternoon? Gone for the weekend?) . Person #2 said I'd receive a call the next week with respect to my loan application. Monday and Tuesday came and went and no call. On Wednesday Aug 15th, I called SoFi again and spoke with individual. Person #3 found my personal information in their machine, but could not give me an explanation why my application hadn't been processed yet. Person #3 then said he flagged my program to be expedited to be evaluated with another mortgage pro (person #4) and that I can expect to be given a call back within 48hrs. It is beyond the mark that is 48hr, well after business hours on Friday, and I haven't received ANY feedback as to the status of my application for pre-approval. Incidentally, SoFi is your bank I've contacted about a mortgage. I had been by the two banks pre-approved within two days of the initial call and had sent me a pre-approval email so could pass along to my real estate agent. Its been over a week now with sofi.com and I've heard nothing. This lender is a JOKE. In the previous 3 decades, I've contacted 6 banks regarding a mortgage loan and to get pre-approved. Sofi.com is undoubtedly the most unprofessional experience I've had with a financial institution concerning a home mortgage. Lastly, to the client review representative from SoFi who may be reading this review. Be advised that my wife works for a large tech company which currently refers SoFi to employees and their new hires. As a result of the experience we've had with this bank, my wife will be submitting a requesting to her company that sofi.com be removed from the list of financial lenders.

Jan 12, 2009
Mary

SoFi review

I graduated this past May and have been striving to refinance my student loans in to a single loan thing so that I could have a fund rate that was fixed. In the beginning things were eloquent and it seemed like I was done and approved because of my rate; nonetheless, SoFi then contacted me to tell me that there was a error in the process and I would need to begin my application all over again. As these programs take a LONG time I was reluctant. But a new application was made by me. More, I got text messages and mails that everything seemed great. Another mistake was made. After waiting for an hour on the phone, I was led. He clarified the reason for the first mistake was because my first name was written incorrectly. Fun fact: my name is a name with only FOUR LETTERS. So yes, I was frustrated but remained calm. He promised that he would"personally" carry on my program and work on himself. He asked me to start all over and apply again. So I really did. Hoping three times would be the charm, it wasn't. Guess what? Four times was not the charm. Want another fun fact? The reason I first went with sofi.com is because they offered a great fixed finance speed around 2%. However, each time they left me reapply it'd go A lot up. I have a great suspicion that the reason mistakes were made repeatedly on sofi.com's end is because they just wanted the rate to rise. Please don't fall under this trap. I spent hours and hours waiting on the phone and calling people at sofi.com. For some reason, SoFi LOVED to call late on Friday nights, so many plans were cancelled in hopes that sofi.com would fix their issues but to no avail. No one has been of any help. Along with SoFi squandering SO much of my own time, they also wasted my father's time (who's the co-signer about the loan). SoFi caused so many frustrations and likely aged me ten decades. The reason I attempted to go initially through them is since my sister was powerful and did her student loans. However, things sure have changed. In summary, I suggest going with a different way. Personally, Lendkey is what I found and I am quite pleased with them. I hope you'll find what you're searching for as well.

Jun 6, 2019
Pooja Chanda

SoFi review

Bad customer service, poor application process. My fiance and I did some research and decided that sofi.com would be the best company to go with to get a loan for debt consolidation. The procedure was straightforward and effortless. The two of us desired to apply for a personal loan jointly. The application doesn't allow for this choice; you can input data on co-signer, which really isn't the exact same thing. NOTE: co-signer and co-borrower are NOT the exact same thing. I went through the process, and then SoFi started giving me a lot of trouble over an address discrepancy. Does it state that the co-signer really needs exactly the identical address as the applicant for a loan. SoFi said our application could not be processed because my fiance and I don't have the exact same address. I predicted days, to try to clarify our situation: we can't move into our new house till this summer, therefore we are currently living to save money until that time. On paper, we don't have the address. What does it matter? The woman, who was rude every time I called her, said SoFi requires for co-applicants to live together. At this time I brought up the fact that my fiance was not even on the application as a co-applicant, he had been on there as a co-signer. Regardless, the woman refused to answer my own inquiries was rude, and made our experience very frustrating. Where we were approved, we decided to go to Citizens bank, with a much better rate, and they didn't care about our addresses. They asked for things that were sensible like pay stubs and W2s. My question to SoFi: why don't you have any process in place to consider scenarios? We both have good credit, good jobs, responsible credit rating, etc.. What do you do for business partners who require a personal loan? I think that it's ridiculous to expect business partners to share the same address. In any case, after doing a little more research, if you can, you're better of speaking to someone to comprehend the procedure and get help and going to a real bank.

Oct 11, 2019
Eddie Smith

SoFi review

I'm the President/CEO of a multi-million dollar corporation. My annual income is just over 200k per year. I have a little debt to earnings ratio of approximately 30%. My FICO credit score is 848. I am also a Private Helicopter Pilot. I found a great deal. 130k for your bird. I waited on the funds for a final on a 70ft, two story, 2 bedroom which I had just recently sold and had about half an number in my disposal. Before it had been offered to somebody else at that price, I had to obtain this helicopter. I had been referred to SOFI fund, with a pilot. I applied for the loan, was pre-approved for 100k so I chose that offer. Then it started, schedule K's, the hoops, the bank statements, company tax returns' years, the decades of returns , financial statements. Everything supplied. Trust me My financial portfolio is impeccable. It went on for a month. I was told that I had been turned down depending on my earnings or debt ratio. I think the folks at SOFI were associating a few million dollars of company property I own that is paid for directly from the companies with my personal finances where corporate construction separates that. Needless to say I was turned down. I am grateful I was because it worked outside where I compensated for the helicopter from my pocket and its a done deal without having to be concerned about financing. As anyone I sensed a little embarrassment although I let it go and moved on. I am posting this review as a warning, challenging credit hits for nothing, high rates of interest and if someone with my standing in the world of credit and finance cannot borrow from these individuals then who will? The main reason I am coming forward months following this horrible liaison is now I'm getting in the mail, on a regular basis, that I am pre-approved for 100K and all I have to do is log on to my account and fill out an application. I simply say stay out of this company if you have good standing and abandon them into the write off's they like to finance."

Jan 10, 2008
Olivia Yeary

SoFi review

Would have loved to give sofi 5 stars. Loved them felt they had been unfair and dishonest. I ranted and raved about sofi and can honestly say I am responsible for not ONE, not TWO, but THREE others refinancing and becoming a member of sofi.com. Though I was referring them because I felt that they were a company, the $300 referral bonus was obviously a great perk. Until it wasn't. A buddy of mine had heard of sofi >3 years back and in that time had made an inquiry together. Unimpressed, she whined with them and later I spoke with her about how amazing sofi was and shared all the benefits with her. I spoke to her for weeks about SoFi and eventually persuaded her to refi with them (she did not remember ever hearing about them initially ). She went with her brand new query and Sofi financed her loan. Well I I didn't see I got my referral bonus. So I called and after speaking with her and I, they linked our balances and explained the credit would require to experience. 8 weeks after when it still was not financed I called back to tell them and they said sorry, the allotted time has been exceeded by the time passed and we might no longer be eligible for the referral. After describing the situation, they stated they did not understand why I was told by someone it would take 6 months to go through, because that was not correct. And then they said since she knew before I persuaded her to go with them, that they would not charge my $300 referral bonus, the company existed. Frankly it is not about the $300. It's about the ethics of this company I have entrusted around $80,000 with (bear in mind they are making interest off of MY money). I was not impressed with sofi.com's handling of this situation and will no longer bother referring people to them. Otherwise, my experience with my loan was satisfactory.

Sep 4, 2019
Scott Moehnke

SoFi review

I had the experience I've ever had trying to get a refi loan 7K. I was told one rate by one SoFi rep and then the rate was higher when implemented. Their explanation was that the rep was wrong when I called their customer service. It had been high, but not significantly, therefore I decided to proceed with the loan. Big mistake! I needed to send in tax returns since I'm self explanatory. No huge deal, but their upload procedure didn't work so I had to go through a few more hoops to get them the yields. They sent me a request for an explanation for their was a gap in my small business income between the years. I had to write a letter stating that my company is job related and some years are better than others, however the smallest season was still over $125K along with the high was close $190K (remember this is for a 7K loan). They stated they could not include my wife's income of almost $65K in their equation. Incredible! They then send a letter stating my excuse was vague and that I needed to include more detail. I was going to drift away at there, but they said that this was. Not even close. They requested info, including my Birth Certificate, Once my next letter was accepted by them! Now I told them to cancel my program. This cost me 3-4 hours and transpired over a few days. One final time -> to get a 7K loan. My pulled credit score was near 850. I will run away from using SoFi again, and I encourage you to avoid at all cost. Perhaps they are better if you are not self-employed, but what a terrible experience.

Jan 11, 2005
Shavone S.

SoFi review

My coworker is a hustler. You have to understand it to understand this story. He's a profession referrer. He gets cash if people register. Who doesn't need a savings account AND take part? My application was denied. Sofi said not able to verify information supplied. I called and asked how is the data verified. They stated with public information. I inquired what public info. That's when SoFi gets all xFiles on you. Oh its own proprietary. I gave my SSN number that was freaking. I send a copy of my license. It gets much worse here. Oh there's a glare. Hmm shady. I send them . Front and back. Benjamin, a worker in support says that I must try with my last name that is old and calls. Keep in mind I have legally changed my name. Any accounts I hold have altered. Permit changed. He suggested to place maiden title. I was about to agree but then he told me I would have to submit stuff with my name. What stuff? I think they just saw how many referrals my coworker did not need to pay that money and had. They gave me the run around and I felt like I got robbed. Borrower, invester, saver. consumer. whatever BEWARE. I will say that 3 reps I spoke never lost their cool when I hit on them with numerous questions. I was suspicious as hell and demanding over the telephone. Without fixing them concerns were replied by them. They may have fooled. Not me. I will go to IG page and also reviewed them. They fooling millenials, but not me. They have nothing to worry about, if they are legit.

Nov 10, 2019
PRodriguez

SoFi review

I had been considering sofi.com for a personal loan for a long time because I had heard and read amazing things about them (fast approval, competitive prices and provisions, friendly employees, etc. ) Well what a disappointment they turned out to be. They didn't honor my loan deal after everything was tripled confirmed and I was reassured that after they got thing they'd have the ability to honor the offer. Nope, that did not happen it was then a sorry we were only able to use a percentage of what you provided. Hmm should not I have been told by you after the time I inquired it wasn't going to work instead of going back and forth? After many days of back and forth, I was provided a much shorter term with a speed that was higher by them. Crazy that they didn't accept me for exactly what I had been initially offered due my income being just a little shy from what I mentioned (literally inside a frog's hair length) since they only used a percentage of my annual bonus, nevertheless they were ready to offer me a loan with a far higher payment and greater speed. How can that make any sense?! I have to say that I'm giving them both the 2 stars their staff earned. They have been prompt and friendly to answer my queries. Process wise they're terrible! I took my company to LightStream and figure what?! I got approved to the duration I desired and with rate 3% lower than sofi.com's. I guess I must say"Thank you SoFi" to your horrible experience. I'm glad I didn't get stuck with your insane loan deal.

Aug 8, 2019
Misty Bitler

SoFi review

Worst company I've ever dealt with. I called them today to ask how to add my own part time job. The rep. additional a location for me to upload the last pay stub which I did. Then I find a few calls telling me I had two years of W2's for this job and the previous pay stubs of the year for two decades, I only have the 2018 W2, therefore I upload this together with 5 years of tax returns prepared by a tax company. I receive another call aren't sufficient. They are good enough for the IRS but not SoFi. I tell the rep. to delete the part time jobs earnings from the program. She stated she did really delete the info. I asked the rep. to switch the income to only include my entire time job. She said she did. I get an email telling me that the loan has been refused. I called to ask the specific reasons (per the email instructions) and was advised the earnings about the documentation I submitted did not match the amount of income I indicated on the application. Really! Hence that the rep. deleted the part time data since the W2 from my entire time job didn't fit what I initially typed into the income box and although I asked but did not change my earnings - loan refused! The good thing about this is I never have to deal with SoFi again. I can only imagine the nightmare I would have experienced if I needed to create two decades of obligations to SoFi. I believe the representatives with the information that is incorrect that is different did me a favor.

Sep 5, 2019
Kathlyn Cabrera

SoFi review

I need to defer my loans since I'm currently pursuing my Masters, and SoFi requires I upload a form that verifies that I am still in school. EVERY 3 MONTHS?! My graduation date is recorded on the deferment form - why can't my deferment be accepted until afterward? Because I would turn in the kind I uploaded 3 months ago, which it's, they denied my deferment a few times - I am not going to disturb our Faculty Director to sign up a form every 3 months! Afterward SoFi would charge me a late fee for not paying the loan that I asked deferment for. I requested a deferment because I can not afford to pay because I'm a student, so naturally I can't pay. Where's the logic in this? To make it worse, the way SoFi communicated my deferment denial is within their messaging system. I received an email that says a message was got by me, I need to log in to their system, navigate to their message system, then download a PDF that informs me this message. Why does communication need to be this complicated? Overall, it seems like SoFi doesn't care about my expertise or financial situation and just wants my money. EDIT: I called the"Account Specialist" team phone number and they weren't helpful. Just told me to call the loan funding firm that they work with, Mohela, to repair the matter and they can't do anything to assist. Basically the customer experience is out of SoFi's hands.

Jan 3, 2003
Tony

SoFi review

I started a sofi.com Money account since I fell for everything that they had to offer. Following a week of using my debit card and earning little local trades (grocery shops, etc. ) they restricted my accounts and prevented me from utilizing all of my money. I phoned their customer service multiple occasions in hopes of a response as to why I have been the victim of this kind of inconvenience, and every time they say they have no control over exactly why it happened, always attributing an"inside staff" for the decision. I have asked for the number of the"inside staff" to reach out to them straight and rather they insist that they will be calling me. No call after being guaranteed a call yesterday! I have bills to pay and all of my funds are in this SoFi Money account and with no way to lift the restriction until this fake inside team takes 7-10 business days to take care of it, I am hopeless. I haven't felt so strongly to take time out of my day and write a review, but I am doing this to warn prospective sofi.com customers. Do you enjoy being in control of your cash? Would you like having the ability to use your hard earned money you prefer? DO NOT open a SoFi Money account. Do your homework, there are plenty of banks offering what sofi.com has. Attempting to use your own money shouldn't be this hard. I'll get my money back sooner or later, but is my time.

Jan 11, 2003
Edward

SoFi review

My wife and I reside in San Francisco and received a letter from SOFI after a full underwriting. Amazingly we found our offer was agreed to by the vendor and that a house could afford. While under contract, SOFI was a total disaster. The home was a condo in a 2 unit building with a very casual monthly HOA that paid taxes and water bills just. SOFI determined they didn't want to give on this kind of HOA but they could never tell us what their requirements were. Multiple times changed their needs over several days. These kinds of setups involving two owners are extremely common in SF. At one stage they decided they had a 10% reserve of only $696 or their HOA fees! The Sellers that have been amazing offered to fund a bigger book for SOFI comfy. After days of back and forth, with tales that changed absolutely no flexibility or clarity and every day, we fell out of contract and lost the house. The mortgage broker was rude and non-communicative . Ultimately it seems SOFI determined they didn't need to have the reserve to be set up"last minute" in anticipation of a purchase. I think because they had no idea what they do, they just altering their principles. Don't risk relying on SOFI. The company is inexperienced at the mortgage industry to be aware of what they're doing and the price is paid by first time home buyers.

Dec 12, 2018
Mike Tonsor

SoFi review

Do not trust this company if you and don't waste your time. The business prides itself but I had the complete opposite experience. They'll prequalify you and present the interest rates at 5 to you. Subsequently after, they will give you alternative refinance supplies with different terms (i. e. 7 years) and high rates of interest. They'll perform a hard pull on your credit before you even select their new terms, and then deny you SOLELY dependent on the debt which you were prequalified for (that is why they gave me when I called and talked to an account expert ). I also have paid each student loan repayment on time previously, and am monthly income 5 times greater than the estimated payment, a doctor, credit rating 755 credit history, job protection, no additional household or mortgage obligations. And I was denied. This is my very first review. I hope my experience will save somebody else from wasting time out of their hectic schedule to submit all the required paperwork and documents (previous years W2s, complete year of fiscal statements highlighting pay deposits, paystubs, contracts, and verified employment from hospital HR department, letter from department with details of employment, etc. ). The positive is the customer support agents on the phone are favorable.

Jan 7, 2004
Emain86

SoFi review

I began the process to get a personal loan credit rating 760/ 120k. My application has not been approved yet & I would be somewhat irritated if it was not, but I have been impressed with their customer support I felt inclined to write a review. From what I could tell, they do use a computer they seem to check at the authentic person and their own situation. My scenario in a nutshell: 3 good companies instantly denied me & my debt-to-income ratio looks worse on paper and the rate. SoFi took the time to completely understand employment background, hours that I work, and cover breakdown. In addition to that when I sent them an email saying" hey I think my income must suffice, but when the policyholder is a issue here are some factors to consider". They had a human reply to me personally! MINOR COMPLAINT: They were waiting for me to find an extra paystub ( completely fine and it had been so they could consider all of the OT I perform ). I advised them that I'd have them by X day & they said okay not a issue. I got RoboCalled about daily & then I'd call back because I thought" is something incorrect". Approve or Deny I would recommend this business because of their customer service; I do not even spend some time to write reviews but I felt inclined.

Jun 11, 2018
Shannon Ursu

SoFi review

I worked really tough before applying for the refinancing of my big student loan load, to get my credit score up. As I focused on making the application pristine, I hesitated to do. Once this was finished by me and clicked to agree to a pull on the charge I received a short while to a call saying that my school is consequently and not on their approved list I don't qualify for the loan. Surely if that were the case I shouldn't have been permitted to finish the application. I sent an email stating so it doesnt happen to other people that they ought to look into this. Ordinarily I would never complain but then they called me to inform me as they've have guidelines in their criteria, how it is my fault. A stand up business would attempt to make things more transparent for future clients and want to fix this so that it doesnt happen to other people instead of placing blame. I have refinanced half my loans I have been working with for the past 2 years. I have had experiences that were wonderful and would recommend evaluating all your options. I hear great things about sofi and while simple and quick I'm dissatisfied I was allowed to use, so far as the credit that is challenging didnt and pull qualify accompanied by customer service that is poor.

Sep 10, 2018
Sharon Scheid

SoFi review

I applied as a co-signer for my son for a refinance of a student loan. We both have jobs and excellent credit. I've been working on this loan because JUNE. Yes, June. 4-9 days is what they tell you. It's mid-October. I've purchased many houses through the years, including one in 2009 if the housing market dropped and it had been hard to find a mortgage even if you were qualified. Trust me when I say that procedure in 2009 was simpler than this thing that is very simple. We all has some things or is self-employed. It is a constant back and forth requesting documents, then the same documents (I take a while for being slow on providing one of those files b/c I got no notifications that they needed it!) , then guess what? Your credit report expires b/c they take as long. Instead of simply signing something giving approval to pull it again to them, you cancel your application out and start again. sigh. I've invested so much time and effort already that I'm continuing although I go elsewhere and would cancel my application. When I have an answer I will post again in 10 days. When I've been asked to provide additional documents. Go elsewhere for your loan!

Jan 8, 2005
Adam

SoFi review

SoFi made this the simplest loan experience I've ever had. The process was fairly straight forward. I entered my personal info and then they did a gentle credit pull (which they said would not impact my credit rating ) to ascertain my loan factors. I then managed to adjust a couple sliders (rate, amount, and length of loan) to ascertain the best loan parameters which match my needs. Then I allowed them to do a hard credit pull and filed my application. Shortly afterward I got some loan records and an email confirmation to reunite and e-sign. About 3 days later my loan has been approved. I was asked to call customer support for confirmation and within a week that the funds have been deposited to my bank accounts. Registering for auto pay qualifies you . 25% interest rate reduction. The website permits you to sign up for auto cover, provides you is very user friendly, and has a few articles and comparison tools. You could also get a bonus for referrals to friends and family. If you like this review and would love to receive a bonus once your loan is funded, please follow this link www. Sofi (scatter ) com/share/1486432? Src=replicate

Jan 11, 2009
Tw

SoFi review

I have a score of about 780 along with excellent credit history. I have several credit cards I've opened over time for special offers that are different. A number of the zero interest provides I haven't used them, and utilized and paid off in the 12-18 month no interest period. MostlyI use 3 personal CC's so no interest is paid, that are paid off every month. I applied for a $100k loan. Annual income over $300k. Should have been an approval that was easy , right? Nope. SoFi said due to having CCs with available balances over $100k, the loan could not be approved unless I cancelled several cards. WHAT? Yes because I have the ability to place myself over $100k in CC debt, I cannot have a SoFi loan. Never mind that cards have zero balances and the others are paid off. Never mind that I've never had a late payment in more than twenty decades of credit history. Isupplied income of over $300k and've demonstrated that I am responsible. However I am a risk to SoFi. I'd find the decision, although the supervisor stated I might reapply. SoFi, your algorithm stinks. This is not common sense lending. Needs oversight.

Feb 12, 2018
Corey

SoFi review

I decided on SoFi after exploring creditors. I went with a couple of questions and they were answered using the chat feature along with a couple emails. The process from beginning to getting financing took right around five days to me (they operate weekends, too). I read negative reviews before, but I concluded that most of them were from individuals that did not meet SoFi's listed requirements. Some of these reviews stated that SoFi then switched the interest rate afterwards , and pre-approved them. This didn't happen to meI obtained a lower rate once I signed up with them. They said they received numerous calls after they implemented. I have only received phone calls from SoFi team members guiding me through the procedure and answering questions. I recommend SoFi, if you are realistically qualified for their services. They are saving me $400 a month in payments and much more in interest over the next couple of years. I don't have anything negative to say about SoFi. I wanted to borrow money; my loan was approved by them at a really competitive rate, with very little effort, and my obligations are automatic.

Jan 12, 2004
Jimmy

SoFi review

My entire loan process with SoFi was straightforward and extremely compact. Having a Technology background I am able to comprehend the process management overlayed at the top of this technological system and it truly was a seamless experience. It's pretty clear that SoFi has thought out an interface that will then be useful for the customer and what needs to enter a loan. Additionally, I've found that SoFi's staff has nearly always been extremely friendly and helpful. They pick up the telephone rather quickly, listen well and are attentive. While my paperwork process was somewhat long, (because of the simple fact I have complex income verification paperwork) SoFi always remained along with it even pushing me to find all my required docs in, in a timely fashion so that we could complete our loan. This is a truly a modern and radical disruptive company. I will be referring my friends and will look to do whatever I can to help this business by finishing my loan as they've helped me. Thank You SoFi (Please Note, I get no rewards or incentives with this review and it is an open and fair review in my experience)

Mar 6, 2019
Joseph

SoFi review

Long story short: SoFi approved my undergraduate loan without a co-signer which is the only reason. For a time, I had no idea who to contact about my loan before it went into repayment and I had been contacted by MOHELA (the loan servicer). The actual reason behind the inspection is the nonsensical in-school deferment alternative. Along with needing interest payments while in deferment, it also takes each 3 months, a paper form to be filled out by your college. That is right, not annually, every term, or once for the duration of your graduate program, but each 3 months. As you can imagine, it is a monumental pain to navigate your school's bureaucracy four times annually just to get a reprieve on your payments on the principal of the loan. But wait - you also cannot use auto-pay to make the interest payments during deferment, meaning that you should manually submit a payment per month (you cannot make advance payments on the interest , since it accrues monthly). Not worth the hassle for anyone contemplating graduate school, especially in the event that you plan on deferring payments for years.

Jan 9, 2019
Amber Vasquez

SoFi review

I was added as a user for a joint accounts an liked what I read about their program. Attempting to start my own account was impossible. The website provides the choice to me, however I'm taken to the accounts page 20, when I select it. Or give me the alternatives to rake a loan out with them. I've tried to contact customer service which has been frustrating. The very first repose I received was simply"yes, you can have both" but no explanation of the way to do that. The response I received was that the machine didn't understand my email, sothey weren't going to react to me. Honestly, reviving this degree of service has caused me but also whether they will continue, particularly in an economic recession when banks get pummeled. From what I understand going through the practice of FDIC insurance is lengthy and debilitating. Working with their customer support provides the impression they are a house built on sand. Ihave never experienced anything like this and've worked with a great deal of institutions. Perhaps it is ok also their systems never neglect and if you never need to find help?

Jan 7, 2004
Yousuf Alnoamany

SoFi review

A unorganized and extremely disconnected program inspection and follow up process. I dont believe this is really a one off experience, I think that their application customer service team is very bad. Back and forth mails went for 6 weeks due to the fact that they maintain realizeing they need an additional document every time when I come back with this and that I must go on a goose hunt to get, they understand they need something different. Everytime you follow up on your application you need to re describe the context of your application and may speak to somebody. My credit report died before I could finish my application and they had to perform another hard pull on my credit report and I was then advised that they changed their policy and no more refinance international sutdent loans, so I had two hard pulls on my own credit, wasted 6 months of communication and newspaper work, all for nothing. Commonbond. Id had higher speeds but I refinanced my laon inside one as it took more than 6 months using sofi and got nothing. Would recommend Commonbond over sofi any day.

Dec 1, 2019
Mike

SoFi review

Sallie Mae called within my thousands of dollars in student loans when my co-signer passed out five decades ago-- luckily I was able to refinance and bundle my loans up with SoFi before the payment was due! The process was simple, and the payment schedule was straightforward. I just refinanced with them to take advantage of lower rates and the procedure was simple. Perhaps 15 minutes, four screens. I got a decent speed and no origination fee. The site is better than it was four decades back! It's simple to use, simple to find exactly what you require, and payment is similar to two clicks. I am not a fan of my student loans but it's each month, a known amount. I received a call four days 11, and it had been financed. I also just did a private loan to package up a few old credit cards under a much lower APR.. I believe my cards were at the 23-24% variety and I got roughly half that with SoFi. It'll be nice to see more go to the principal instead of compounding more. The process was super easy. No complaints up to now, the site is clean and the reps are friendly.

Aug 7, 2019
Susan

SoFi review

My husband applied at $265,000 for a mortgage. He was pre-approved. Our mortgage advisor Olive advised him to apply to pay our mortgage off also. Complete around $465,000 plus points to decrease interest prices. She saw no problem with salary his credit and his 16 years. Plus we've got tons of equity in our property. Days went by and my husband called and left messages with no response. She called back and stated that the underwriters needed income from him because we own our taxes and income property had a loss. So I moved as a cosigner. She explained definitely no problem with that. My salary along with my 29 years at my company. At this stage Sofi redid my husband's credit (two marks currently ) and one markers on mine. Days went free of communications. Emailed and asked when the anything. No reply. I went online and noticed it said we were refused. We don't understand there was no communication at all. Nothing. We feel that without us pursuing our communicating using Sofi there would have been none from you. Unprofessionally done on the end.

Jul 9, 2019
Barb

SoFi review

I set out to refi my house and had worked with Sofi on a consumer loan, fast, easy, paid it off a year. I presumed easy path for refi and the rest of the places that were positive. Icompleted refis and've owned 6 houses. Used the exact same lender for the last few products but thought I'd attempt Sofi this moment. The lending person I worked with wasn't knowledgeable, would not supply the minimum preliminary info I asked for by email and voicemail for several days, and then pressed me to lock my rate the first time we talked and still hadn't provided the info I asked for. Once I let her know how disappointed I was in how non responsive she was while at precisely the same time she started to cry. At that point I called the procedure , although not until they had pulled on my charge and wasted two weeks of my time. Went to the creditor and it's been a breeze. The consumer side worked fantastic for me personally but the mortgage side was a total flop. I hope they get it together as I've otherwise loved Sofi.

Nov 3, 2019
Andrew Ricci

SoFi review

AWAY unless you want to DAMAGE your own CREDIT! If possible I'd give zero stars. I would like to refinance an current loan to get a payment that is smaller and make a 6-figure income and have a credit score of about 750. My program signaled I qualified for a competitive interest rate and financing. Further, I was told that SoFi would match another offer, but I had to wait 2 weeks to learn if I agreed to a credit pull, this would be contemplated. I was led to believe that I would receive the loan when I consented to a matched speed and some credit pull. After giving consent, I quickly received a notice from SoFi that my debt obligations are too high based upon my geographic location - whatever that means. Now my credit is damaged and SoFi will not offer me a loan. Calling led to an empty apology. Thank you SoFi - except my unnecessarily dinged credit. I hope victims are saved by this review that is honest out of the practices and damage to their credit.

Jan 7, 2005
Eric Nordin

SoFi review

I applied for a loan according to Credit Karma's"indicated" 98% likelihood of being approved. While I knew I had balances on my credit cards, I haven't missed any payments, nor had I ever employed for cards or any new credit cards in the last year and a half. The problems began when I had been denied and advised that my earnings documentation didn't match up with the amount they were told by me I create on the application. It turns out that one of my pay stubs wasn't utilized in the evaluation procedure. After clearing that up, I was advised that"the provider wants you to re-apply" along with my program would be expedited. Well, because I had been denied, and a tricky credit check was on my credit report, their system wouldn't even look at an application. And finally, I wouldn't even bother clicking on the"email the CEO" button. I really believe it will not do anything but go to customer support because that is who responded to my emails.

Jan 10, 2008
Karin M

SoFi review

The whole process from begin to finish took less than a week. The procedure was simple, I had been given loan amount options and my speed . From there, the application process was simple. After speaking with a customer support rep, we could add record upload options to my program to show sources of income beyond paystubs. My program was approved in under a day, funds were dispersed to my accounts in less than 48 hours. With these funds, I was able to pay ALL of my credit card invoices off. Such a good feeling to see that a light. The reason why I gave 4 begins 5 - there could be some improvements in user experience like understanding precisely what documents will need to be uploaded before understanding there are options to include extra options and beginning the process. I haven't started paying this loan, therefore that I really don't know how the ongoing process will be similar to. But so far, overall a great experience.

Jan 11, 2019
Stephen

SoFi review

This was my own fault that I misread one of those information requests as I thought it was asking me to verify my SS#, but it had been asking for my wife's SS#. This caused the first application to be denied, which had been on a Thursday afternoon. We got this mistake corrected on my subsequent program on the application and Friday was reviewed and approved and the money was in my account on the next Tuesday. In acquiring documentation which was needed Because of some other challenges I had to explain the entire situation, and talked to 4 different account specialists. It would have been nice to be assigned that I did not have to go over the situation. That's the reason I did not rate this as Excellent. The account specialists Each were very beneficial but this made the process somewhat ineffective in an otherwise quite efficient process. Thanks for supplying the loan for our house improvements and working through my error.

Nov 1, 2019
Ryan

SoFi review

Like most of the other people you see online whining before you employ this corporation BEWARE. Everyone gets pre accepted with a pull on their credit but then after they run you and tank they never did at the beginning and then refuse you. Do not get your hopes up just because you get pre approved. I was pre approved for $100,000 I am denied by them together and so I send them everything they ask for. Didn't even provide a loan to me my advice and all nothing was the same as the pre approval. A company that is reputable wouldn't pre accept you and deny you once you give them what they ask for. What's the point of a pre approval? How can a company pre approve you for a loan and for no reason deny that your loan? Well the same thing has been said by a lot of people all over. Conserve charge and your time and go somewhere else you'll save yourself a lot of hassle. This company are liars and totally garbage.

Jan 2, 2004
Ardy

SoFi review

Refinancing with Sofi, particularly for student loan, is like burying a car and great comfort will be provided by them. It's totally B. S. I started showing curiosity about refinancing with soFi, ever since I knew about it and tried to learn more. Unfortunately, my experience became dreadful with all the process. Anyhow, it wants you to have credit rating,and income, which remains fine. They have policy, backdated immigration policy, which will not be eligible for refinancing. Finally, other companies that are excellent that are realized are providing very competitive pace, better with policy that is less stringent. I am pleased that I am refinancing with different creditors will encourage my entire Duke, Illinois institute of tech fraternity to prevent this fiasco. I had to write this not because I am furious, but since I wish to show route like me struggling with refinancing student loan that is enormous.

Jan 1, 2004
Steve

SoFi review

Sofi.com is definitely one of the harder lending business to qualify for a loan with, and that is because they are pretty picky with that they approve. I can enjoy that in a universe post-2008. It took us weeks to get accepted and see the funds in our account, but only because we implemented directly before we went on holiday. I don't doubt that the entire procedure takes to have accepted had we never leave for vacation. We had to submit employment confirmation on our return to prove our employment history. Through the application process, we're followed-up through text, email and telephone calls (voicemail message) even to the point of approval. There is not any loan origination fee and the rates of interest are among the industry. SoFi is a superb selection, but only in the event that you match their lending prerequisites (i. e. high earning job, stellar credit score and history).

Jan 8, 2001
Justin G.

SoFi review

Datapoints - 807 credit rating; $92k annual earnings (11. 5 years of same occupation ( increasing salary); Current utilization of credit was sub 10%, and less than $4k total. Request was for $20k loan over 7 years (payment was about $325/month). I got rejected by SoFi for my loan given that the information. SoFi has all the rights in the world to reject me for whatever reason that they need, so I'm not upset by any means. They stated it was because of a lot of recent inquiries (I'd recently got a secondhand car for approximately $5k [$100/month] and moved financing so I could Find a warranty on the car, so that I did have inquiries on the market. ) Their customer support was fantastic, and getting through to them wasn't any problem, so for I am convinced they will handle the loan great. Nonetheless, it's safe to state it is strict and folks should find a sense of how strict it is.

Jan 11, 2003
Jpz

SoFi review

I have had a frustrating experience with SoFi. SoFi pours a lot of energy into getting you to do business together, but as soon as you're a part, client support is hard to navigate. You can never continue a conversation with a SoFi employee/representative they promise to call back to follow up about issues but seldom ever do. I have been dealing with a few issues (improper interest accrual and also a delay in sending a payment check to my previous student loan servicer) for over 5 weeks and the problems are still not solved. SoFi sent the check to pay off my student loan into the incorrect address, and didn't fix the problem even after I called SoFi to make sure they were sending it to the right address. The delay in receipt of this test resulted in interest that was accrued in almost $65. It was an excruciating hassle to get SoFi to rectify the issue and reimburse me.

Jan 9, 2007
Charlotte Gardenhire

SoFi review

We were so optimistic to refinance with Sofi and did LOTS of study before applying with them. Their customer support staff was very nice and useful, but provided us with the incorrect info and told us they can help our scenario when we were refused. DO NOT try to refinance with SoFi if you went to a Title IV school, even if you graduated from an approved establishment. This cost us a credit check that is hard, another month of accrued interest while awaiting the procedure of applying, and we ran out of time without damaging our credit, applying to other businesses. When we are preparing to buy a house this was all very frustrating and have been promised acceptance with Citizens Bank. I'm sure SoFi is great for most refinancing options; sadly, for us we are disappointed in the innacurate information we were provided and the waste of time we spent.

May 7, 2019
Allecia

SoFi review

Our first mortgage with SoFi went and we had a great connection with our mortgage broker. However 2nd time around, communication was beyond poor. We had two different people managing our mortgage which was extremely confusing. We had constant issues with their system and also spent working out the issues with their IT division. We also went days without having the ability to upload secure documents or having the ability to view our mortgage online. Ultimately ended up solving portion of our system difficulties and we needed to ignore in order to meet our close date and move on. In the 11th hour the agent emailed about transforming our mortgage program. We went days without being able to contact them via telephone or email. We went with professionalism and far superior communication with a more competitive mortgage lender.

May 5, 2019
Eileen Lippincott

SoFi review

Everything was going fine until I received my papers to sign. The interest rate and monthly payment were higher than what I was initially advised. I called and was told they have to reveal the highest possible interest rate I could have, but I still have a fixed speed. I was told so the rate in my newspapers was without autopay that the original rate I had been given already included the autopay decrease. NOWHERE did any of the first quotes state,"that is the speed you get if you're registered in autopay". They advertise that you can also get a rate decrease! I signed and enrolled to get the pace that was first. Now I'm being told the rate decrease doesn't decrease the monthly payment. So now I am paying the monthly payment on the higher interest rate I was never quoted. Bunch of liars!

Jan 12, 2004
Thomas Clodfelter

SoFi review

The process was easy enough. I was disappointed I could not include my spouse's income (4X mine). Of everything I received initially the last interest rate was doubled. She had only opened an American Express card that her credit rating DROPPED below 700. (Bad timing!) I had known as an agent to see whether someone could take a second look at her earnings and has been advised there was not anyway of taking her cash to account as her score was under 700. I had wanted to pay her off two large interest credit cards. At the conclusion. I managed to cover off the Am Ex and put the balance towards the card. Once we receive this loan paid off. We plan on applying for a different one. I was looking for, though I didn't receive the amount. I will certainly tell friends and family.

Dec 9, 2019
Noelle

SoFi review

I've been with SoFi for a few decades now. Launched with the account that was investing, a money account was opened by then with all the beta test set. Through them I've refinanced my student loans Additionally. Every single item has gone fast and smooth. The fiscal managers and customer service are great with quick answers and great advice. The machine is really easy to use and permits you to manage all in one area. 2 percent on a checking account is top of the line and the investment accounts are simple and clear once you let them handle. I'm likely going to stay with SoFI for my mortgage as well. Additionally, as long as you have a loan service through SoFi the wealth management fees are waived on investment accounts. If I could give SoFi over 5 stars I would!

Sep 4, 2019
Sissy Fernandez

SoFi review

A S o F I account opens. All was well until I moved money in my bank to SoFi. I received my card. I have money in my accounts. They text me saying exactly what I'd available. I went to go use my card to the first time. Knowing I have money in this account. Mind you that this is my first time using the card. I phoned them and they said my account was being reviewed and they would call me. This place is a joke its been 30 times I haven't received one telephone call from them. I get this email today saying my monthly announcement is available. I am afraid to go try out my card so it could tell me declined. I've bank and that I cant use it. They had no right to put my account. Hell I hadn't even used it. wt. From what I haven't even used anything statements.

Jan 10, 2009
Brian Brown

SoFi review

I have been banking with them for around 6 months and love it. I haven't had any problems other then the very fact that they state there is no way when you can with a green dot moneypak to add money to your accounts plus purchases aren't supported by them using Google Pay. It adore the vaults feature and has been an amazing experience. A savings account but the cash is still connected with the checking account and earns the same interest rate. The only things I would be interested in watching are as follows: 1) Permit Student Google Pay purchases two ) let both round-up savings to the new vaults 3) let deposit savings into the new vaults *This review effects SoFi Money only as I don't have another service offered by them so I can not speak for those are!

Feb 9, 2019
Ralph

SoFi review

SoFi has helped me and my wife tremendously. We were going to lose hope in consolidating our debts due to declined assistance. On a weekend, my wife and I had been watching Ellen Degeneres' show throughout her 12 days of Christmas giveaways. Among the gift cards were for credit with sofi.com. My wife and I wondered what sofi.com was so we looked it up and ended up using for a loan that night. In a couple of days to the week, we received word that we were accepted. Enormous debt was paid off by us, aggressively paid of our SoFi loan and applied for a home loan. To which, we now live in. A good deal of this class wouldn't have been possible in case SoFI hadnt taken a chance . We are now on our SoF loan to completely clear us. Forever grateful.

Jan 11, 2009
Whistleblower

SoFi review

Sofi.com is a total scam with dreadful, customer services that is racist. They never cover them and advertise referral fees. Why pay and scam people, if your product is great? Fees that are hidden and undisclosed charge and they set a 6 month hold to punish you if you question it. They said on a call that I recorded that they're financially struggling and putting holds to invest customers money per their terms and conditions which means they embezzle cash. They also stated they are inflating their accounts until they go public, which explains the reason why they pay for referrals that they never cover. Then they dismiss you if you dare question their fraud and obstruct your number. SEC and FINRA have confirmed regulations have violated

Apr 10, 2019
Glenn

SoFi review

I applied for a loan of $50000 and was denied. I just was approved for $30517, which left me 20000 brief. I'm very disappointed in SOFI since I applied for and received a loan about $40000. My loan has been paid in time thru bank draft never missed a payment. I used the revenue information this time that was higher than previously but was refused. My credit rating is 731. My charge profile is perfect, never missed a payment. After I paid off my loan, I received a letter saying I had been a customer that was great and if I need financial assistance in the future, don't hesitate. I had to go to Prosper Loan business to complement my demands. Very very disappointed with SOFI. The agent that serviced my loan goes by the name Charles.

Jan 11, 2003
Camilo

SoFi review

I would give Sofi a rating of 0 if I could. I have good credit, fantastic income and overall am a subject of credit. I refinanced my house. The customer service and underwriting process with these guys is beyond dreadful. I routed over 250 bits of private information over a span of four months. There were long periods of non-responsiveness followed by a request to having some additional update that is ridiculous in my documentation. These went on for four months. In the long run, after talking with 3 people sending uploads and more than 50 emails, and spending north of 50 hours of my own time to meet their requests, I decided to draw my application. Ohh, and yes, they wanted to charge me more for that, too! Stay away!

Sep 11, 2018
Suneet Sikka

SoFi review

The company is terrible and inefficient. They keep demanding lots of documents to prove everything. They request a doc. One provides it. They then ask for a different. One provides that they ask for another. They should base choice on not the degree and earnings you got. Unless it's exactly what they want their portal is inflexible to upload files. Their custmer service reps don't have any flexibility and don't listen. They don't allow you to talk with the loan officer. Unless you wish to provide documented lifestyle hisory I won't recommend this company for refi of any loan. Sallie mae approved 5 times the lian in 2 minutes on phone. Sofi keep demanding more and more docs and has taken nearly 3 weeks.

Nov 4, 2019
Stephan

SoFi review

I used a number of the goods SOFI offers: mortgage loan investment, money account. I had a great experience with everything but for the cash account: they kicked me out with no notice just like a criminal. I did not even have enough time was going to transfer my bank accounts and to actually use the account. The last thing you want in a bank account is one that disappears into thin air. This left a bad taste in my mouth and after all there are lots of reliable financial institutions with no charges ETFs, I decided to get out of the investment account where I went to sew six figures. That said I would use their service again for a personal and mortgage loan (it is okay if my loan vanishes into thin air )

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