The amount of options for consumer loans has increased considerably over the last couple of years. SoFi, one of the largest online lenders in the US started with student loan refinancing and has since expanded into personal loans and mortgages. In this SoFi review we will share the process of obtaining a SoFi loan and share a video of the entire process.
One thing to remember as you watch the video below is that it was recorded in late 2015 so the interest rates and the process may have changed slightly if you are going through this process yourself or looking at the SoFi website. For those who are just trying to better understand the online lender’s process, this video will give you insight into the experience that thousands of borrowers have already gone through with SoFi. The video is embedded below but is also available on YouTube.
One of the benefits of online lenders as shown above is just how fast they are able to pre-approve you for a loan. It is a very transparent process and the rates can be extremely attractive, especially for the very best borrowers. We have tried out many of the online lenders and one thing we found interesting is that SoFi has a unique approach to underwriting. So even if you have been declined by banks or any of SoFi’s competitors it is still worth checking to see if you might be approved for a loan with SoFi.
The other unique aspect of SoFi that is worth mentioning is their focus on building a community. While some benefits like their career services or entrepreneur program are only available to those who refinance student loans, SoFi also offers events in large cities for their members.
It was very interesting to see the SoFi borrower experience first hand. Obtaining a personal loan with SoFi is a straight forward process and if you are looking for a loan, SoFi is a company that is worth checking into. If you want to take a personal loan out at SoFi, you can use this link, which is our affiliate link.