SoFi

About So Fi

SoFi is a private company that provides student loans, mortgages, and personal loans. The company is based in San Franciso and started in 2011. The customer service teams are based out of California and Utah.

Originally, focused on student loans, the company has expanded into mortgages and personal loans. Unlike, many online lenders, SoFi underwrites its own loans. This means it is lending their money and not a bank partner's money. This gives SoFi more control over their lending requirements. SoFi considers factors like estimated cashflow, career, and education in addition to credit scores and debt-to-income ratios when making loan decisions so some people qualify for a SoFi loan even if they don't meet traditional credit/income-based underwriting standards.

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