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November 2023 by William Miller
I called the number listed in the home loan section of their website and got a representative by the name of Bill-I asked him a question about who to contact about loan servicing. After not knowing the answer to my question I asked if I could speak to a manager or someone who might know. After all, this was the home loan number. He said "I don't work in home loans, I just answer the phone & we had a shake up last week and I don't know who is in charge" LOL He said and I quote: "no one can help you" I told him I thought that was an odd thing to say to a customer and then asked if he could look up a contact or provide a phone number for a couple locations, and he said his access to information was "limited" Maybe his access to brain cells was limited. No effort whatsoever was put forth on his part to try to get me in touch with someone who could possibly answer my question. This level of horrible customer service is one reason I would NEVER recommend this company to anyone for anything. Companies that provide customer service like this need to be shunned by the public and avoided. Hit them in on their bottom line, maybe then, they will learn a lesson and provide a respectful worthwhile service to the public.
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November 2023 by Peter Hawj
I got a call from this number specifically telling me that they are from SOFI and asked me for my SSN with NO information of the purpose of their call. His excuses was, "I'm unable to disclose that until you inform me of your SSN". This is extremely poor as no information was provided to the reasons as to why they are giving me a call and just demanded my SSN. He refused to inform me the purpose of the call until my SSN was provided. As I refused, he said he'll provide an email instead in which I NEVER received an email from him later. This can easily be a scam and anyone can call and state that they are from SOFI and demand for personal/sensitive information.
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April 2023 by Mike Y.
Have purchased several houses and vehicles, never have been told identity was unable to be verified. Extremely poor business practice to not allow an opportunity for resolution, only advised to reapply. When speaking to the rep during review he stated the last piece needed was a more recent utility bill, which was provided within minutes. A few days later declined stating unable to verify identity. No regard for wasting your time with the bonus reward of a hard inquiry.
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March 2023 by Patrick A.
Modern day loan sharks with an App. I would not recommend them. I took a few loans out with them through the years and paid in full. After learning of the fact that they sued to end student loan forgiveness so that they could continue their stranglehold hold on consumer debt I decided to never do business with them again. Zero stars. For Shame.
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February 2023 by Clear Sky D.
I requested a loan, and it was approved. The lady I spoke to told me it would be 2-5 business days before it would receive the money in my account. The lady suggested that I open a SoFi banking account and it would be deposited in one day, so I proceeded. 3-5 business days later, no money. I called every day after that, and everyone kept telling me it was pending. 7 business days, I called back and was informed that my bank rejected the deposit. This was SoFi bank. Apparently, the lady inputted the wrong account number and it was rejected. Fast forward...they stated that they would re-issue the check. 2-5 business days. 2 days later, no pending transactions and I called in. They stated it would be 3-5 business days till I saw the money. What??? Absolutely crazy! Still waiting on my money AND they are charging me $15/day interest since the loan was approved 7 days ago. They have not corrected this error. Unbelievable!! Never again at SoFi Bank!!
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February 2023 by Chris M.
Stay away!!! Will steal your money, give you the run around, then find a way to blame you.
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January 2023 by Jason Ellis
Absolute worst bank ever! Froze my account for over 3 days now, no way to escalate or talk to anyone in the investigation department. Absolutely insane they can hold your money hostage like this.
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June 2022 by Mark V.
Received a pre-approval for a mortgage for over 1/2 million (it took them a week to respond to me after I applied... first red flag I ignored). The agent was less than responsive to questions, to be charitable. When we put an offer down on a house for 20% less than we were pre-approved for, the real trouble started. They were struggling with DTI, which I had to point out several times was not an issue, going as far as to present annotated and color-coded documents. Then they were trying to say we didn't qualify for the conventional financing. I myself downloaded documents from Fannie Mae to prove to them we did (which is what we were pre-approved for). They had over a month, per contract, to grant underwriting approval. They finally started trying to underwrite it at noon of the due date for approval, at which they failed spectacularly. It got so bad that my realtor lined up another lender that was able to get us underwriting approval in less than 24 hours. In short, their pre-approval (not pre-qualification... pre-approval) is not worth the paper you'd print it on, their customer service could be considered a joke if the situation were at all humorous, and their staff, to be overly diplomatic, are incompetent. I ignored the warnings from other reviews because they offered the best rate with minimal fees, and also based on my past experience with their personal loans, which went smoothly. I was a fool. I can not stress enough, you should NEVER consider a mortgage loan with SoFi. You have been warned. They put me through Hell for over a month, when a legitimate mortgage lender was able to step in and straighten it out in less than a day.
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May 2022 by Jason H.
We've been in the underwriting process of our home refinance for over THREE months, and our loan officer and processor DO NOT respond to email or phone. Sofi is absolutely terrible and unreliable, do not go with Sofi if you want anything done in a timely manner. Every week, we ask our Loan officer and processor if the underwriting process is done. Every other week, they would respond with a new condition for us to submit a file. We submit the same day, and again no response for another 2-3 weeks despite us trying to find more information. Underwriting process should not take THREE MONTHS. Sofi is unreliable at best and deceiving at worst to entice clients to sign up for a mortgage with them to artificially inflate their earnings numbers while keeping clients in the loop for months.
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November 2021 by Ralph H.
This "bank" will absolutely steal your money. I signed up for this account to try some of the benefits they offer. After a year I wasn't impressed with the benefits and I when through the process of cancelling my account. Somehow SoFi transferred my account balance to an account that was not my account. I have a verified account tied to this account. They transferred it to a random account. I've talked with customer service and they are stating that the money is gone & nothing can be done.
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November 2021 by Aaron H
Bad rates and bad service. Avoid if possible. I found much better rates with another lender.
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November 2021 by Andrew K.
Student Loans I started with SOFI several years ago when I refinanced my student loans. The process went quickly, there were no hidden fees, and I got the advertised rate (3.24%). You need to set up auto-pay or the rate goes up .25%. The monthly payment in the loan agreement also goes up to include interest from funding to the first payment due date. In my case it was less than $1 per month. About a year in I had questions about the application of payments. SOFI resolved it to my satisfaction and the process to speak to a representative, to a supervisor, to an advocate was very easy. SOFI gave me a free t-shirt for choosing them. Mortgage Home mortgage rates dropped to historic lows this year. I decided to try SOFI for a refinance. I had another great experience. I started by submitting a rate inquiry on their website. SOFI offered me a 2.0% fixed rate on a conventional loan (they don't offer jumbo loans). After discussing my application with a loan originator, SOFI offered me a 2.25% fixed rate to refinance an investment property. SOFI offered to waive a home appraisal requirement, and a second credit inquiry. I decided to refinance both homes. Pros: (1) Both loans closed in less than 30 days (2) SOFI waived an appraisal requirement and credit inquiry for one of the loans (3) SOFI called to schedule the appraisal within 3 hours after the loan originator submitted my loan application to the underwriter for approval. I only had 1 credit inquiry, and 1 appraisal, for refinancing 2 homes. (4) SOFI accepted my stated business income for the rental property without requiring any income verification. (5) There was one closing for both loans (6) SOFI gave me 1 week advance notice of the closing date (7) My loan specialist was available almost 27/7. He responded to my emails over the weekends and between the hours of 9PM to 6AM, including emails at 1AM. (8) I paid off my car loans and my SOFI student loan to reduce my debt-to-income ratio for the refi. Unfortunately, I applied too soon and two of the loans showed balances on my credit report. I offered to request paid in full letters from the lenders so the loans could be removed from my list of debts, but SOFI said it was unnecessary. Cons: (1) SOFI waited until the payment due date to fund one of my loans, even though it was ready for about a week by that time. My rental property required that if payment isn't made by the payment due date, a full month of interest was due. The interest penalty applied even if payment in full was made within the 15-day grace period. SOFI contacted me at 5PM on the due date to say they didn't have a payoff letter with payoff instructions and missed the due date. I immediately responded that I submitted it with my application and showed where in my file it was located. I was upset at first, but SOFI took responsibility and gave me a credit for the penalty. (2) I wanted to pay the closing costs for both loans. However, SOFI financed the closing costs on the rental property and even paid cash out. I have no use for cash out on the rental property because comingling the funds would result in a real headache at tax time. Given the low interest rate, it was actually better to finance the closing costs, and it was easy for me to schedule a payment of principal to return the cash out so there's no loose ends, but I felt SOFI didn't fully listen to me. Fees: SOFI charges a loan fee of $1,495 per loan. SOFI offered me a $500 discount per loan for being an existing SOFI member. You need to mention it to the originator when you apply. In addition to the loan fee, SOFI charges other fees which run around $1,000 - $1,500 per loan. The big ones were the appraisal fee, which was $525 per loan (unless waived), an escrow fee of $495 per loan, plus title insurance fee. There were about 4 or 5 other small dollar fees, including a credit report fee (unless waived). SOFI IPO Invest SOFI emailed me about an opportunity to participate in an upcoming IPO for RIVIAN. I filled out their form and deposited the amount of money they wanted. SOFI held
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October 2021 by m f
Where do I begin I used the SoFi application and today they locked me out of it after I did nothing but bring to their attention things that seemed sketchy and was unresolved I have 1000 dollars in my account that they stole and they locked me out of the application for me to even access it after I told them I was gonna take this matter to the legal level if I were anyone smart don’t trust this company they will use you to get your money and after any incident occurs they will turn their back on you and not want to pay you back for it they are shady and not to be trusted I’ll show you screenshots of conversations and of things that they have done to me and now I’m in a financial hardship with my bills
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September 2021 by R O.
Awful website. Completely broken. I have to create a new account for every loan update and restart the whole process. Can't edit anything or view anything.
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April 2021 by Travis V.
Awful experience with this lender and I would encourage physicians and independent contractors to steer clear. As an attending physician I get paid several different ways but primarily my income is through a 1099 as an independent contractor. I recently purchased a new house and decided to refinance my student loans at the same time, since I would have all my up-to-date financial paperwork at my fingertips anyways. Unfortunately, after starting the application process my rate was significantly increased because my income could not be "verified." SoFi clearly thinks I can repay the loan, since they still offered me one, I just do not qualify for normal rates. This is despite producing two years worth of tax returns (2019 and 2020) supporting my income and a signed letter from our office manager with my stated guaranteed income. After going back and forth with customer service for 13 days I was finally put in contact with an account specialist. They informed me that the only way I would qualify for their initial offer was if I could produce two years worth of End Of Year paystubs (the W2 was not sufficient). So, if you are a physician/independent contractor you will not qualify for their advertised rates unless you can also produce End Of Year paystubs, even if you have over 2 years worth of tax returns confirming you income. If you don't happen to have End Of Year paystubs do not even bother checking your rate, it won't be honored anyways. The real salt in the wound was being approved for the mortgage (which is twice the amount of the student loan I am refinancing) with the same documentation and half the hassle. If you have ever purchased a house, think back on your mortgage application. Remember the frustration and headache? Now double it and you have an idea of what dealing with SoFi has been like. If you are a physician/independent I would strongly recommend looking elsewhere. I know that is what I will be telling the medical students and residents that rotate through my clerkship when they ask about student loan refinancing.
