Professional: Quick and application that is easy with readily-available support to help.
Con: They arenвЂ™t (in my opinion) probably the most competitive! Keep shopping!
The application was completed by me procedure for a student-loan refinance with both SoFi and a competitor, Darian Rowayton Bank. IвЂ™m so glad that We used with numerous loan providers! DRB offered 3.5% for a 5-year term refinance (their cheapest advertised price). SoFi offered 4.74% for the loan that is sameand even though in addition they promote 3.5%). I decided to use asking for SoFi to suit the competitorвЂ™s rate because SoFi possessed a NCAA sweepstakes that We desired to enter. So we made the request on Mar 12. It took until Mar 26 and multiple emails that are back-and-forth SoFi finally gave me their вЂњbest offerвЂќ which had been 4.625%. No Many Many Thanks! I think it is difficult to think there are lots of more qualified borrowers that you probably wonвЂ™t get whatever rate they are advertising either than myself and so I would guess.
There arenвЂ™t numerous lenders to look from butвЂњbest that is google to refinance figuratively speakingвЂќ to see a couple of alternatives to SoFi.
My knowledge about sofi is comparable to many ppl here. Terrible, unreasonable and waste of my time. LetвЂ™s me tell youвЂ¦ Sofi seems extremely unorganized and their underwriting policy is ridiculous! DonвЂ™t make use of sofi and donвЂ™t allow them to mess up your credit rating for nothing (they did hard pull on credit check)!
My tale: done my application and upload all paperwork online on day 1. Live talk to a sofi rep whom said, my application might get evaluated within 4 business days if I called and talked to a rep. Therefore I did. I then waited waited and waited. No word that is single sofi at all after 2 whole days. we called, that rep explained one of many paystubs we uploaded had been Outdated, they’d require me personally to upload/ e-mail an even more current one. We thought to myself, needless to say it now outdated вЂ¦ Coz the application form review took means longer than anticipated and guaranteed. Anyways, I instantly uploaded and emailed my paystub compared to that rep (as he offered on phone, therefore he could ahead it to you to definitely review my instance when they got my paystub).
I became stupid to trust sofi the second time! You know what? No word from sofi again, an after i updated my paystub week. On me, I would have withdrawn my application at that time coz sofi seems very very unprofessional if they hadnвЂ™t done credit check. Anyways, We called once more. We asked why nevertheless no term ?!
That rep dared to share with me personally вЂ¦вЂ¦
Rep: вЂњoh, it appeared as if we are in need of your latest paystub.вЂќ Me personally: вЂњwhat?! once more?! we simply uploaded and emailed xxx my paystub the other day. Did you not notice it back at my profile?вЂќ Rep: вЂњhmвЂ¦ if that is instance, i’d like to look into itвЂ¦pls holdвЂќ (5 min later on) Rep: вЂњwe did receive your paystubs week that is last. Somehow, it just didnвЂ™t achieve into the underwriter. We will ahead it now.вЂќ Me: вЂњwell. When I talked to xxx week that is last. He said he will make sure some body seemed at it straight away, so my application didnвЂ™t get delayed any further. How achieved it nevertheless get over looked? Regarding the i used, i obtained guaranteed review within 4 company times! dayвЂќ Rep: вЂњI apologize. We shall ahead it to the underwriter now. You really need to hear from us in per week.вЂќ
One later, I received an email from sofi, denied my application for insufficient income week.
They promised 4 company review day. It ended up being a process month! If i did sonвЂ™t phone them, they most likely wouldnвЂ™t bother to phone me personally, not a courtesy call.
We made $150k a year. Full-time work since grad 36 months ago. Always paid my student loan on time, even usually made additional payment. Credit rating is 775. No home loan. My student loan stability was $96k in those days.