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SoFi

SoFi

 3.7/5 (1874 ratings)
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About SoFi

SoFi aims to help customers get control of their finances. The company started with student loan refinancing, offering consolidation options and lower interest rates. It has since expanded into several other areas but continues to focus on loans and refinancing. SoFi members get benefits such as career coaching, financial planning and estate planning.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • Flexible loan terms
  • Trade stock and ETF for free
  • Most services have no fee
  • Fully digital

Cons

  • High personal loan minimum amounts
  • Need an account to check rates

Bottom Line

SoFi is a financial management service that provides loans, refinancing, investment services and more to customers. It’s popular due to its lack of fees and flexible options. It’s a fully digital way to manage your money.

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SoFi Reviews

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Page 2 Reviews 10 - 40
Rated with 1 star
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Verified Reviewer
Original review: June 19, 2021

Customer support is abysmal. You would think this company does not want to make money. My first name is abbreviated on my state issued license because it is too long to fit. This is causing issues when trying to open an account. I called customer support and they literally told me they could not do anything to help. Cut and dry that was the end of support. I can only imagine what kind of support you can expect even after you open an account and they are holding your funds. I would stay far away from this organization.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 20, 2021

SoFi policies are from the cave ages. Moving your money into an investment account considered a "settlement" and held hostage for 7 days. Imagine what will happen in the case of a market crash - you will lose all of your assets even. If you are a wise investor SoFi is not a safe place to hold your money.

12 people found this review helpful
Rated with 5 stars
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Verified Reviewer
Original review: May 10, 2021

I have read reviews here re: sofi.com. I see many are borrowing or re-financing student loans and I am sorry for them. I am new to investing (at 68 years old). I started very small. Sofi.com is seamless and the site points to many helpful tools. I am getting a great education on a very small level. I like Sofi.com for this reason. My motto in life has been cash is king and now in retirement I am building a little money rather than getting nothing from my savings account. A risk yes. There is nothing but risk in life.

13 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 27, 2021

Awful experience with this lender and I would encourage physicians and independent contractors to steer clear. As an attending physician I get paid several different ways but primarily my income is through a 1099 as an independent contractor. I recently purchased a new house and decided to refinance my student loans at the same time, since I would have all my up-to-date financial paperwork at my fingertips anyways.

Unfortunately, after starting the application process my rate was significantly increased because my income could not be “verified.” SoFi clearly thinks I can repay the loan, since they still offered me one, I just do not qualify for normal rates. This is despite producing two years worth of tax returns (2019 and 2020) supporting my income and a signed letter from our office manager with my stated guaranteed income.

After going back and forth with customer service for 13 days I was finally put in contact with an account specialist. They informed me that the only way I would qualify for their initial offer was if I could produce two years worth of End Of Year paystubs (the W2 was not sufficient). So, if you are a physician/independent contractor you will not qualify for their advertised rates unless you can also produce End Of Year paystubs, even if you have over 2 years worth of tax returns confirming you income. If you don’t happen to have End Of Year paystubs do not even bother checking your rate, it won’t be honored anyways.

The real salt in the wound was being approved for the mortgage (which is twice the amount of the student loan I am refinancing) with the same documentation and half the hassle. If you have ever purchased a house, think back on your mortgage application. Remember the frustration and headache? Now double it and you have an idea of what dealing with SoFi has been like. If you are a physician/independent I would strongly recommend looking elsewhere. I know that is what I will be telling the medical students and residents that rotate through my clerkship when they ask about student loan refinancing.

19 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 6, 2021

So first time I used it I transferred $500. The app kept giving me an error message. After several attempts come to find out it transferred $500 six times for $3,000. Called them immediately. After 30 minutes and talking to two people they still refused to help. I’ll be transferring back all the $ and going with a different app.

17 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 1, 2021

A few months back, SoFi alerted customers that it was switching to a new bank, resulting in a new routing number. I was left to call several companies that I do business with, to inform them of the change. This including my mortgage company, of which I have two accounts. The month following the change, I logged into my SoFi app to make sure my monthly payments for both of these accounts were debited from my SoFi Money account. I saw two charges from my account, one for each of the loans, and assumed everything was okay. A few days later, I noticed a $20 "miscellaneous credit" to my SoFi account, with no explanation of where it came from. I chalked it up to recent promotion that SoFi was running which offered cash back for eating out at local restaurants.

About a month later I received an alert from Credit Karma that delinquency had been reported by my mortgage company, which resulted in an approximately 40 point drop in my credit score. I panicked, of course, and called my mortgage company. We ascertained that the person who had changed my routing number had only changed the information for one of the accounts and that the $20 "credit" that appeared on my SoFi account was actually a "returned payment" on one of my two loans. I immediately brought the account to good standing, my credit score has since recovered, however, the red mark on my credit report is still there.

Had SoFi properly labeled the $20 as a returned payment and not a "credit", I would’ve been alerted to the issue and had ample time to resolve it well within the 30-day window - avoiding this negative report on my credit. I have spoken to several customer service representatives at SoFi; none will admit that SoFi was partially and each one refused to do anything on my behalf to make things right with the credit reporting agencies - leaving me holding the bag. I am now forced to spend several hours writing letters to the credit reporting agencies to explain the situation and hopefully get this negative mark removed from my report. And in case you're wondering, yes, one mark does really make a big difference. Earlier this week, Sofi itself rejected my application for its new credit card. When I called to ask why I was rejected, they noted the delinquency on my credit report.

I have been a SoFi customer for 5 years. I have a Money, Investment, Crypto, and Personal Loan account with the company. I also own about $1,200 of the company's stock, IPOE. Following my recent experience, I will be closing all of my accounts (aside from my personal loan, which I am unfortunately stuck with for the time being) and selling all of my IPOE stock (at a loss). I cannot, in good faith, be associated with a company that treats its customers so poorly.

My warning to others is this: SoFi wants you to believe that it is a real financial institution, but in actuality, it is nothing more than a fancy app that offers its users a chance to “earn points” and “win prizes” for logging in, all while refusing to uphold basic banking standards. No reputable bank would label a bounced check as a credit to a checking account, so why on Earth is SoFi marking returned payments as "miscellaneous credits"?

Every day, more and more online banking and investment apps, like Robinhood, face criticism by regulators for “gamifying” the system. I believe SoFi is no different in this respect and should be closely monitored. (To that end, I am happy to provide you with documents that support this claim, including a recent email from the company encouraging me to sign up for a credit card for a “chance to shake the magic money ball” and win up to $10,000.) SoFi needs to do the right thing; admit its role in the negative mark to my credit report and assist me in getting it back to the near-perfect level it was at before this mess occurred.

32 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 16, 2021

I applied for a home mortgage through. I have a good credit score of 790 and high income. To my surprise, I was declined with one of the reasons being that I had too many accounts, which I found odd. The loan officer I spoke with was very unprofessional and said there was nothing I could do. Literally use any other bank.

20 people found this review helpful
Rated with 5 stars
Verified Reviewer
Original review: Jan. 23, 2021

I got a 50k personal loan and was funded in less than 3 business days. My FICO score was good but not excellent. I was even able to speak to a live human when I had a question. I did get a good rate compared to Lending Club or Prosper. The site itself is a pleasure to use.

10 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: Jan. 10, 2021

They advertise like mad, claim to have best rates and an easy application. Yet despite having a stellar credit rating, their system includes the student loans intended to be refinanced into the existing credit formula PLUS their new loan (essentially double counting the same expense) and then proposes a much higher rate "based on your current qualifications" and debt load.

25 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Jan. 8, 2021

Beware of this company. I applied for a personal loan with a 809 credit score and I was approved with a 9.36% apr. Sent my income and they came back with a much higher apr 15.30%. They’re picky and will find any excuse even though you are capable of paying the payment. That’s 1 hard inquiry wasted. I didn’t want it to go to waste so I asked a agent if they could use the same inquiry to consider me for a credit card and she said yeah no other hard inquiry will be done so I applied for the CC and I was declined with a 809 credit score with excellent paying history and the whole works.

Their reason was “garnishment or attachment” which means child support that I do have but it’s current and paid In full never been late. They will find any excuse and makes no sense and to top it off they pulled another hard inquiry. That’s 2 hard inquiries wasted and on my credit report for 2 years. Save your inquiries and go to discover where they will approve you without all the nonsense. Now hopefully I can get one of those inquiries removed. If not then oh well lesson learned. I will never give my business to this so-called company. You’ve been warned and good luck!!

35 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 30, 2020

I started the harrowing process to refinance my student loans in November. I spoke at length to a representative explaining what the goal of this process was and ensuring I was completing the correct application. At every stage I was given conflicting information about what outstanding documents were needed. I contacted customer service no less than 10 times over the course of this process. Every requested document was provided in a timely manner. Because this process was taking so long, I requested an extension for the application end date and was told I had until January 12. I just logged in to provide what I was told, once again, would be the final documents needed to find my application had been declined due to the wrong product being selected.

My credit was run on November 12. That is how long this process has taken only to be denied when I had been in touch with customer service several times throughout the application. I am grossly disappointed in the lack of communication and service from Sofi. The platform is not user friendly, many customer service representatives citing a “technical glitch” in the platform and advising I wait for them to contact me with a solution (which never came.) I strongly suggest looking elsewhere for any financing needs.

26 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Dec. 2, 2020

I had a very poor experience with Sofi. I refinanced my student loans with them a little over a year ago. However, wanted to take advantage of the historically low rates this season, so I applied for another refinance because I had lost my original job due to the COVID pandemic and inevitably had made a little less money this year. EVEN WITH that happening, I still hadn't missed a single payment and had actually paid $2k extra on my loans this year, while improving my score over 50 points (to 795) since I originally applied with them. Needless to say, I was denied this loan. They do not care about their customers, no matter how good they may be, and I'm going to make sure everyone I know, knows it. I've never felt so disrespected by a company in my life.

42 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 13, 2020

I refinanced my student loan due to a promotion of $450 dollars. The application was complete and I was approved. I called a month afterwards and was told that there was no such offer even though I confirmed on the first call about the promotion. I would expect a company of this stature to have dignity and honor their words but they didn't. I'm livid!

34 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 28, 2020

My story is the most strange and absurd… My story is the most strange and absurd you would never hear in your lifetime: 823 credit score, 15 ys., 800 only on my 9 credit card account. Great credit history, never missed a payment, permanent tenured teaching job with Gov. agency (11 years on the job so far), perfect everything, around 100k income but despite all of this my 35K personal loan was declined from Prosper and Discover at the same time whereas they both called me before to tell me that I was approved.

After hurting my credit through reporting "hard inquiry" that I knew about right away through my Credit Karma subscription, they told me the next day that I was declined for "not being able to verify my identity". More than 3 frustrating hours was with Discover and Sofi and Prosper did not help because they keep repeating what they see on their computer according to them.

Bottom line, there is no a valid reason for the rejection. The only interpretation I have is that because my home phone is an internet one through Vonage and it seems their system does not recognize it but it still does not make any sense because they have my 2 cellphone numbers. So why? Racism is is the only answer. They all say the same exact nonsense no matter what you say to prove that you are honest and willing to provide anything to prove it. Discover was able to send me a code and recognize the phone but the next day another employee wanted to try my cellphone but his "COMPUTER SYSTEM IS NOT ACCEPTING IT".

I immigrated here more than years ago and I never saw or heard something like that. Either racism or ignorance/hate of the other is growing so fast and which is becoming scary or the economy is so bad that these banks are broke and they keeping the few money left to their acquaintances. I can prove every word of what I said here anytime to anybody!!!

Prosper let even like my saving account before changing their mind. They even suspended my account for 3 months on their company that they asked to open to apply for the loan. So, no my saving account is STILL linked and they did not give me any notice to check that it was cancelled at least. That means "power abuse" like in dictators countries", you have to trust them with your life savings but they can turn you down for any non-reason. Best of all, I have a Discover card since 2004 and had yesterday 10K700 credit line with zero interest for one year. Saying that to the employee did not help either.

I have 8 other credit card with an open credit line totaling 57000 that I am not using but only eight hundred dollar ONLY!!?? Sofi did it to me twice but they were smarter not to count it as a hard inquiry at least. This should be in the Guinness world book. That means all they are all ONE company playing the game and using us as Americans for their own greedy and immoral gains. Sorry for not having a Mike as a first name. My background got a better job than yours which should make you also jealous and maybe it did. It is ironic that I teach my students not to be racist whereas it has been growing these days faster than the crypto-currencies. By the way, they do not deserve even that one star but the website system does not give you the option to put 0 star or -5... Dr. M. D

29 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 23, 2020

When my wife and I first applied to SoFi for a loan we received a message in big bold letters 'PRE-APPROVED'! We then had to send in two years of tax statements, two years of bank statements, and two letters of explanation of our credit (both our scores are over 730). After all of this we then received an email that we were declined. What? They already said we were approved? We then applied on LendingTree and were approved in less than 1 day. Read other reviews, this happens to a lot of people. SoFi is nothing more than a scam, you've been warned.

44 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: Oct. 10, 2020

SOFI sells you on a low interest loan if you have great credit. I asked what score they looked for and no answer was provided. I was lead to believe I would receive a interest rate lower than 6% but that was not what was presented. It was below 10% but I could get that at my bank all day long. So with a 770 credit score I was offered a higher rate than they advertised. I would like to see the requirements for the 4.99% loan advertised. Or hear from anyone who actually got a great rate. I personally think it's a bait and switch advertisement. Yeah maybe a friend of the owner got a great rate but not the average citizen. I actually got a 5.99% at my credit union for a separate loan at a later date. FYI I did take the sofi loan anyways because I didn't bother to look at the interest rate. MY ERROR. Good luck to all. See your credit union first.

31 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 1, 2020

Not a good place. They take advantage of people and I don't recommend this place at all. I don't like the process at all. Too much interest charge on the loan. Do not get a loan from this place. Not good.

25 people found this review helpful
Rated with 3 stars
Verified Reviewer
Original review: Sept. 16, 2020

I took out a $2000 loan three months ago as I ran out of savings because of Covid. This is my first personal loan so I have no basis for reference but I'd heard of SoFi so I researched it and chose it over the others. The website was easy to navigate and when I called I was able to talk to an actual person. The repayment terms are basically the same as every other major loan company of this type. So far the automatic re-payments have processed without incident.

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 15, 2020

Tried to get a loan and they said no from a BK I had over 9 years ago. Funny how I can get a 1.5M mortgage and 2 new cars without issue but SOFI complains even though it's almost been a decade. Every other lender and bank doesn't care as long as 7 years has passed. I wouldn't even use them once I was eligible. Horrible company.

23 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Aug. 13, 2020

I applied for a personal loan to consolidate debt. I have a good credit score of 787 (Experian) and never missed a payment on anything in my entire life. To my surprise, I was declined with one of the reasons being that I had too many accounts, which I found odd, because people apply for debt consolidation to reduce accounts/payments into one, so it is expected to have multiple accounts.

On top of that, I don't have a ton of revolving debt accounts; around five with all but one having relatively low balances. I was shocked at their decision to say the least. However, it is comforting to read reviews to know that I'm not the only one that experienced this. And based other reviews, I'm glad I was declined since quite a few people are having issues with the service. On the bright side, I was almost instantly approved by a competitor at a better rate (only had to show a copy of a pay stub), and the funds were routed the same day as my application was approved. Ironically, this competitor is noted to have stricter approval standards... Imagine that.

40 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 30, 2020

I had an initial great first impression of SoFi. I am a first time home buyer and had gotten a preapproval from them. They gave me a nice competitive interest rate, facilitated the initial loan documents quickly, and everything seemed to be well on its way. My home wasn't closing for another 2 months so I figured I had plenty of time. I submitted everything they wanted me to submit, and was even told I've completed my part. Things were looking good right up until literally 3 days before closing.

Suddenly, the assistant who was in charge of my loan shoots me an email with a long list of items to be completed. She spoke on the phone with me with attitude, saying it's because of me not providing them these documents that they wouldn't be able to close on time. I told her how could I have known SoFi needed these documents from me when it was literally the first time I've heard it! They've had TWO MONTHS to process this! I worked hard to get everything to them that, but no one followed up with me.

My buying agent and I called AND emailed 3 different people and couldn't get through for DAYS. Finally, less than a day before closing their senior loan officer calls to say that his higher up will contact me. Then guess what? No one calls. I am now left without a place to live because I've already given notice to my property manager and I can't live in the new house either. This is terrible quality customer service without any recognition of the hardships they've caused due to gross negligence. SoFi lures you in and then does not pay you any attention afterwards without any other excuse besides being busy. I definitely do NOT recommend.

55 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: July 24, 2020

I set up a Sofi Account trying to use the new extended Tax Deadline. Their system showed I was approved for the account and allowed me to schedule a deposit for the MAX contribution. They failed to schedule the deposit and didn't create the account until July 16th. They then refused to fix their error costing me $1400 in tax refund.

42 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: July 20, 2020

Debt consolidation was the reason for my personal loan application with SoFi. I applied the first few days of June (with excellent credit BTW), while I was on 6 week paternity leave. I received a request to verify my employment and I reached out to my employer. I received a VOE link and supplied it to SoFi. That wasn’t good enough because the link needed to be emailed by my employer and not me(???). I finally got past this hurdle and they verified my employment, but had an issue with me being on leave. I reached out to my employer and was told to provide them the VOE link and the contact info for Unum, the company that handled my pay while on FMLA.

SoFi and I went back and forth for over a month and a half with constant emails from them asking for my employer to verify my employment. After my leave was over, I was told to send a copy of my pay stub, which I did. Then...the emails started over again with “please confirm employment, please confirm you’re no longer on leave, please confirm employment, please confirm you’re no longer on leave”. I work for a 10,000 plus employee company and their policy is to refer to the VOE link...which I sent 8 times. I sent the Unum link 6 times. I sent a copy of my pay stub. All with more emails and no results.

In the end, the wait was so long that the interest rate increased by 2 points, the non-stop emails asking for info I confirmed over half a dozen times and each person I spoke to ensured me that they were “escalating the matter” with no results. I called Lending Tree and had my loan approved and in my account within 14 hours of applying. So long SoFi. Never again.

49 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: July 14, 2020

I found SOFI through NerdWallet, which gives an aggregate of all the best financial lenders on one page. I was looking for a lower APR for my student loan, which was currently priced at 6,8%. SOFI seemed to have a better offer at 4.8%. I immediately pounced on that offer. What followed seemed like a promising start. They asked for proof of employment, W2s, paystubs, social, and other identification info, which I provided over a prolonged period due to them needing to contact my boss directly to prove where I worked. The problems began, however, when I added my father as a co-signer and he was laid off shortly after due to the COVID-19 fiasco.

This threw SOFI for a loop, and they didn’t seem to understand why he wouldn’t be able to provide proof of his employment eligibility. They told him to contact another customer representative to have him be taken off the loan, which he did but was still never removed as a co-signer. Weeks went by with no response and he even got an email asking for his experience with the customer service rep — what a joke! Eventually, I had to call SOFI myself and found someone to update my application, after finding out it was mysteriously canceled. The employee said it was just a glitch and assured me that my application was still being processed... About a month goes by with no reply, until I one day find an email saying my app had been approved.

Ecstatic to finally have a lower interest rate for my $25000 student loan, I open the email to find that I had to pay a small fee of an additional $5000 JUST to refinance my loan. Was this a joke??!! I would have to take out another loan to even refinance the original. Nowhere was it made clear by SOFI that I would need to pay a fee worth 20% of the original loan just to get a lower rate. It seemed like this company was giving me the cold shoulder the entire time, which was a waste of months of my time when I could have been looking for better offers. Lesson here is, look for a better company than this bargain-bin choice.

40 people found this review helpful
Rated with 2 stars
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Verified Reviewer
Original review: July 8, 2020

We started the mortgage refi process in March. All good until May. We have been trying to close since then. This company has the worst follow up. We are at our wit's end with them. This should be an easy deal for them. 80% LTV, good credit and income. We’ve had to extend our rate lock twice with a potential third extension in a week. They have received all of our documents yet continue to ask for items already submitted. What good is the upload feature on the dashboard??

31 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 30, 2020

Please heed warning. Also please read comments by Anthony/FL, Michael/KY & Michael/NY here on this site - all from April 2020. Same thing. SoFi does NOT care if you are in hardship due to Covid-19. Their only concern is to make more money. At first, they offered no help/forbearance, but buckled under pressure in that Federal Student Loans did offer help and Private loans did not, and/or a marketing gimmick to make it seem like they "want to help". So they changed their tune to "help" by allowing a 2 month Forbearance, however on the caveat that you would still be accruing interest every day (that tells you something right there).

The SoFi reps (2 reps, 2 calls) were very clear that the interest would be paid over the length of the loan. Today we find out - surprise! Interest payments to be upfront over the next 3 months to the tune of an add'l ~ $1400! They flat out lied to us. Be cautious. We have been with them for 5 years (2015), with 1 large & 1 medium student loan(s). We have seen the progression from a Company with Stanford founders, that seemed to really want to help (Social Financing) to another greedy large scale Corporation, making more money off the backs of our youth and future of this Country. Maybe that's how you pay for a new NFL Stadium in LA and for all those commercials on TV. Shame on them!

39 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 1, 2020

When I read Sara's review on Sofi, I kept agreeing with her words. "Yup, I've been there. Yup, I've experienced this. Yup, I had to continuously fight SoFi AND Mohela, and couldn't figure which company would resolve my issue." SoFi and Mohela would point me in the other direction because neither company wanted to help me.

It's been a horrible 4 years and I regret ever refinancing my student loan with SoFi. Signing up was easy.....and they make it easy because they want you (need you) as a customer. However, once you sign the contract, you're nothing but another customer with a SoFi balance. They don't care about you or job loss. SoFi is a glorified Sallie Mae. I'm basically paying an extra month's rent on top of my actual rent, car, insurance, and other bills with no other support.

33 people found this review helpful
Rated with 2 stars
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Verified Reviewer
Original review: April 29, 2020

I applied for a home refinance with SoFi. The process started out fine but after getting a second opinion with a different lender, I decided to go with the other lender as they were offering a lower interest rate and thousands of dollars less in closing costs. The loan officer at SoFi asked for the disclosure to see if he could match it. It's now been several days and zero communication from SoFi. During this same time, SoFi keeps asking for additional documentation. My income was already electronically verified but now I need to provide copies of my last 2 years W-2s. Had I not already made up my mind to change lenders, the lack of courtesy/professionalism from them and the need for additional documents has certainly pushed my decision over the top now. Lastly, I already prepaid for the appraisal and no one at SoFi seems to want to help to get it refunded back to me.

33 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 17, 2020

This is the only company that I have found that is completely unfriendly to people affected by COVID-19. I asked them to move my payment date by 13 days and it was a huge hassle. Then they said that I could defer "one" payment but that my account would be shown in default?? Unbelievable! AS other reviewers have said, no empathy, sympathy just money, money, money. This company makes me sick! I am 75 years old and need help but none is available from SoFi.

58 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 14, 2020

I, like millions of others have lost my job from this coronavirus. ALL other companies (mortgage, car loans, credit cards, various utilities various other loans) have worked with me for deferring my payments for months depending on the company. SOFI will defer only the principal totally. The interest for each month will be spread out over the months of the remaining loan. The principal will be added to the end of the loan. I expected, like all the other companies, the entire payment would be added to the end of the loan. Nobody I know of, chose to get laid off from this virus that has plagued the planet. If the monthly interest is $20 or $350 a month, it seems UNETHICAL to me for them to put their policies ahead of their customers' needs!!!

46 people found this review helpful
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SoFi Company Information

Company Name:
SoFi
Website:
www.sofi.com