SoFi Ratings & Reviews

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NMLS ID: 1121636

SoFi

(4.2 of 5) 91 Reviews

82% of our customers would recommend this lender.

About SoFi

SoFi is reinventing consumer finance for the better as a leader in marketplace lending. SoFi helps ambitious professionals accelerate their success with student loan refinancing, mortgages, mortgage refinancing, personal loans, parent loans and more....

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Customer Reviews

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91 Reviews

(4.2 of 5)
Review Breakdown
  • Lender Review
    from Marysville, CA Confirmed LendingTree Customer
    (1 of 5)
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    None - we connected, but I didn't move forward
    Date of Service:
    January 3, 2018

    NEVER use this lender!

    SoFi is the worst company I have ever dealt with when applying for a loan. When I applied for the loan they told me the loan would fund in three to four business days if I got the requested information to them. They had the requested information within one hour. On the fourth business day I received an email from SoFi stating they needed my employer to verify my employment, this is after I had already furnished them with a current paystub. On the fifth day I received a text message from SoFi stating they needed a tiny bit more information to proceed processing the loan. I call to inquire how much longer the processing was going to take and when the loan would fund. I was given the run around....maybe three or four days but some loans could take three weeks. I asked to speak with a supervisor, when I finally got to speak with a supervisor I got the same answer...this was NOT acceptable!! I cancelled the loan application went to another lender and closed the loan in less than 24 hours.... Read More

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  • Lender Review
    from Los Angeles, CA Confirmed LendingTree Customer
    (1 of 5)
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    None - we connected, but I didn't move forward
    Date of Service:
    August 5, 2017

    Online app doesn't work

    Online application form kept giving a message that form was incomplete. Only section with an alert was the estimated income section, but I had it filled out. Tried changing the amount and no luck. frustrating. This based on other reviews make them a no go,

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  • Lender Review
    from Brooklyn, NY
    (5 of 5)
    Recommended!
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    I'm currently working with this lender

    Easy! Quick! Painless!

    I applied to SoFi through Lending Club because I was pre-approved. A link took me directly to SoFi’s website where I re-entered my income and personal information. I put in my loan amount and picked if I wanted it prefixed or fixed and term. The rates were decent and there were no originator fees. I scanned a copy of my license and pay stub. Then I waited not even 24 hours for phone call verifying my information and welcoming me as a SoFi member. This call took maybe 5 minutes of my time, if that. The loan was applied to my account the next business day. The whole process took three business days from applying to receiving my personal loan funds. I am excited to consolidate my credit card debt and make 1 low monthly payment. I would apply to them again and I have all ready referred them to my friends.... Read More

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  • Lender Review
    from Beaverton, OR Confirmed LendingTree Customer
    (1 of 5)
    Reviewed:
    Loan Type:
    Refinance
    Services:
    None - we connected, but I didn't move forward
    Date of Service:
    November 9, 2017

    Worst experience ever

    Awful experience. They say 2-4 days. It took over 4 weeks to get offer. Gave a quote but would not honor it. Made about 10 calls to support because they said they'd call back but didn't over and over. Their website barely worked. They required tons of pay documentation which I provided but they kept saying it wasn't good enough. They got full details of more than 2 year history from my employer and it still wasn't enough. Gave rate .75 higher than promised in email. Went with a different lender that gave a lower rate, required only last paystub which had year's history on it and was approved and funded in 2 days. SoFi lied to me multiple times. No integrity... Read More

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  • Lender Review
    from Maryville, TN
    (5 of 5)
    Recommended!
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    Closed loan with this lender

    Recently funded but so far very good experience.

    I took a very long time to compare options and decide what would be the best course of action for my situation and Sofi was the most straightforward and flexible and options of how much funding I could get at one of the best rates I could get for my situation. The only reason there were slowdowns in the process was of my own doing due to me making sure that I had the right combination of things before committing to an application process once I did that it was pretty quick and the customer service people were very helpful both on the front and the process during and the back end so far. I like their method of funding and the straightforwardness of what you are paying for and how much it's going to cost you. I have only had one customer service representative that felt a little pushy not bad but a little and interested in moving on from me to the next person but the rest have been very helpful and very kind. I've entered into a long-term agreement with so far so I am praying that they continue to be as good on the long-term as they have been in the funding and short-term... Read More

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  • Lender Review
    from Charlotte, TN
    (5 of 5)
    Recommended!
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    Closed loan with this lender

    Easy to apply, fast process, and no fees!

    The application process with SoFi was simple and fast. I applied on a Wednesday and the loan was funded two days later, on Friday. I actually did not start the application process thorough LendingTree though. I received a letter in the mail from SoFi saying I was pre-approved and I could check my rate without impacting my credit. The rate I was quoted was lower than what other lenders had quoted so I decided to go ahead and complete the application. The rate I ended up with was the same as what I was quoted, there were no fees, and I was able to borrow a much larger amount through SoFi than I would've been able to get with other lenders. I'm very pleased with SoFi so far and will definitely consider them for future needs... Read More

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  • Lender Review
    from Atlanta, IN Confirmed LendingTree Customer
    (1 of 5)
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    None - we connected, but I didn't move forward
    Date of Service:
    August 7, 2017

    Waste of time

    Like many other reviews are stating, I was approved through Lending Tree but later declined through the SoFi website.

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  • Lender Review
    from Swedesboro, NJ
    (5 of 5)
    Recommended!
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    Closed loan with this lender

    Great experience

    I can only say positive things about SoFi. The process was simple, and I received an excellent rate with no fees or closing costs. The customer service was fantastic, and the speed with which the company executed my refinancing request was incredible. This will be my first stop in the future.

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  • Lender Review
    from Tulare, CA
    (5 of 5)
    Recommended!
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    I'm currently working with this lender

    Quick and Easy Loan Process

    The application process was one of the smoothest I've every experienced. The application itself took very little time to complete. The entire process, from when first submitting my application until my bank was funded with the approved loan, took only two days! I was amazed with the speed and also satisfied with the rates.

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  • Lender Review
    from Mechanicville, NY
    (5 of 5)
    Recommended!
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    Closed loan with this lender

    Great rates and even better service

    Quick and easy loan process! I was able to pay off a higher interest loan, reduce my payment and still get some extra cash out.

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SoFi is reinventing consumer finance for the better as a leader in marketplace lending. SoFi helps ambitious professionals accelerate their success with student loan refinancing, mortgages, mortgage refinancing, personal loans, parent loans and more. Their nontraditional underwriting approach takes into account merit and employment history, among other factors, to provide financial products that can't be found elsewhere.