In addition to a variety of mortgage products for home purchase and refinance, SoFi offers home equity solutions for those looking to get cash from accessing the equity in their home.
SoFi’s home equity loans are provided by Spring EQ, a mortgage company that offers a faster mortgage process and increased opportunities to save more money. Throughout the entire home equity loan process you will work with Spring EQ representatives, a team that is committed to answering your questions and making the process as easy as possible.
Before completing a full application for a home equity loan, you can check your rates and terms by pre-qualifying, a process which will only take a few minutes.
You can get your cash in as little as two weeks with as few as four documents required. This is much faster than many other companies in the industry with the average time to closing on a home equity loan being two to six weeks.
SoFi home equity loans provided by Spring EQ could save you as much as $530 on your monthly payment. This is made possible by Spring EQ’s low fixed rates.
With a SoFi home equity loan, you aren’t required to refinance your first mortgage, allowing you to keep your mortgage rate if preferred. In addition, qualified borrowers have the opportunity to access a large portion of their home’s equity. To see if you qualify, speak with a SoFi or Spring EQ representative.
SoFi doesn’t have any hidden fees, so there shouldn’t be any surprises throughout the home equity loan process.
SoFi’s home equity loan products have a wide reach through Spring EQ, but residents of the following states won’t be able to access the product through either company:
If you live in any of the states listed above, you will need to look into other options for your home equity needs.