SoFi Personal Loans Reviews

SoFi Personal Loans Reviews
3.5 out of 5 stars
18 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4 out of 5 stars

Customer Service

4 out of 5 stars

3.5 5

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Most Helpful Positive Review

Aug 15, 2020
UberYoda Borrower

I wanted to get a loan to refinance credit card debt at a better interest rate.  I decided to apply for the loan before my credit moved into the excellent category (as I wanted to try for a better rate) but decided to go ahead as part of my debt paydown plan.  The application process was very easy and not tedious.  It did take longer to get approved than stated, but that was partially due to needing to use a more recent pay stub, and verify my income.

Customer service was very knowledgeable, and helped me make a slight adjustment to the loan to get the terms I wanted.  Interest rate is not fantastic, but it beat some of the other competitors who charge fees, and it is much better than the 27% or more I was paying on a discover card. Once the loan approved, the funds were deposited the next day, and I immediately began paying off the credit cards; which has already greatly improved my credit score, and put me in a better position to refinance my home mortgage soon!

I spent months looking at loan options and offers from other lenders, and I would definitely recommend SoFi to others.

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Most Helpful Negative Review

Mar 16, 2020
I wouldn't recommend
Ryloken Borrower

No matter how high your credit is, their APR is not as advertised. In fact it is actually higher than other lenders. Also, if you do get a loan with them, make sure you read the fine print, as there are many "non-kosher" clauses in their agreement that will make you think twice.

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These reviews were written by current and former borrowers in the last year.

Jan 02, 2021
An absolute nightmare of a company
thisisfine Borrower

If you like your sanity, do not, under any circumstances, do anything with SoFi. They were great when they were just starting out as a company, but have absolutely gone down the drain. I refinanced my house with SoFi after a reasonably smooth student loan refinance process. It took two and a half months of back and forth with people who had absolutely no idea what they were doing. I was sent forms marked INTERNAL ONLY- when I argued that I had no idea what some of the terms on the form were (because they referenced INTERNAL PROGRAMS AT SOFI), the underwriter argued with me and basically called me an idiot. She then went behind my back and harassed my HOA to get this wrong form filled out. I had to get to the point where I refused to speak to her and would only work with her slightly less incompetent manager. We had to push the closing twice because the underwriter was so slow and so bad at her job. Then, the morning of closing, I'm told they're sending a lawyer and that I need a witness to the paperwork. Gee, that would have been nice to know the morning of. 

It was an absolute train wreck, start to finish. Go anywhere else. 

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Dec 31, 2020
Best Credit Score Fix

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Dec 18, 2020
Successfully got approved for a loan.
Natisha481 Borrower

The aftermath of my encounter with KENSTAR CYBER SEVICES is one that can't be forgotten in a rush. I was approved for an auto finance but with high interest because of my low credit score coupled with some hard inquiries and late payments. Kenstar came in for me and raised my score to 795, removed the hard inquiries and late payments on my credit report and leaving me with a better chance of getting same auto loan with lower interest. I feel so happy right now. Needing a permanent fix? Feel good to reach out to him on KENSTARCYBERSERVICES AT GMAIL DOT COM/ 505   585   7636

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Dec 03, 2020
bryd09 Borrower

I’m a single mom and was afraid of making mistake after my experience with a group that claimed to be able to fix my credit report. 

I happened to know about XAP Credit Solution through my elder in church who they helped boost his score. My ex boy friend ruined my credit and left me with a lot of debts. I also had eviction and repo on my report, XAP assured to give me an excellent credit report which they did. I was able to apply for a loan with a very low interest rate. I truly appreciate your help XAP. Reach XAP on xapcreditsolution @ gmail . com for your quick and efficient credit repair.

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Nov 15, 2020
Outstanding
griff671 Borrower

I have had 2 loans with Sofi and both loans were approved in minutes with absolutely no hassle. I received very low interest rates as well. Outstanding company that I would recommend to anyone. 

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Sep 14, 2020
I consolidated 2 loans with Sofi.
Jgray52 Borrower

I go a recommendation from CreditKarma to use Sofi to consolidate my debts with a personal low interest loan.  They were right it was quick and easy and I got a lower finance rate then the others like Upgrade for example because I did have an excellent credit rating.  I would refinance with Sofi again if I needed to do so.  Thank you Sofi you freed up a $927 monthly loan payment that goes back into my checking instead of paying another loan.

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Aug 27, 2020
Great Service and decent rates
CKMeber19 Borrower

SoFi is really is easy to work with and they offer a lot of services that are helpful. Since becoming a borrower I have refinanced to adjust for living in a more expensive part of the country and I have started using their savings and investing accounts. There loan rates are not the abosulte lowest but no underwriting / origination fees are really helpful along with no prepayment penalties. 

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Aug 16, 2020
Ro09 Borrower

This is crap from lenders, I do not recommend running your credit with this institution

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Aug 15, 2020
UberYoda Borrower

I wanted to get a loan to refinance credit card debt at a better interest rate.  I decided to apply for the loan before my credit moved into the excellent category (as I wanted to try for a better rate) but decided to go ahead as part of my debt paydown plan.  The application process was very easy and not tedious.  It did take longer to get approved than stated, but that was partially due to needing to use a more recent pay stub, and verify my income.

Customer service was very knowledgeable, and helped me make a slight adjustment to the loan to get the terms I wanted.  Interest rate is not fantastic, but it beat some of the other competitors who charge fees, and it is much better than the 27% or more I was paying on a discover card. Once the loan approved, the funds were deposited the next day, and I immediately began paying off the credit cards; which has already greatly improved my credit score, and put me in a better position to refinance my home mortgage soon!

I spent months looking at loan options and offers from other lenders, and I would definitely recommend SoFi to others.

more ...
Jun 22, 2020
interest is too high

I had a great credit score but still received a loan with a higher interest.  Check around

more ...
Jul 17, 2020

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Sep 15, 2020

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**Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based on analysis of information provided by the consumer and available rate information from lenders. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 12%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Additionally, model year, loan-to-value, minimum loan balance mileage, income, debt, etc. restrictions may apply. When evaluating offers, please review the lender’s Terms and Conditions for additional details.