Min. Credit Score
Max. DTI Debt to Income Ratio
SoFi's unemployment protection is a rare feature that could be particularly handy amid the predominance of job losses stemming from the coronavirus pandemic. That said, their loans require good-to-excellent credit scores and have a high minimum loan amount.
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Lender description SoFi, which stands for Social Finance, Inc., was founded by Stanford business school students and has a corporate mission of helping customers achieve financial independence.
How to qualify You'll need to meet minimum age requirements as determined by the state you live in and provide proof of residence and income/employment. Loan eligibility depends on several other factors including financial history, credit score, and debt-to-income ratio.
How to apply Apply online by creating a SoFi account and providing basic personal information.
Footprint SoFi loans are available in all states except Mississippi.
Loan example A $30,000 personal loan with a 2-year repayment term, a 0.25% autopay discount, and a fixed rate between 7.99% APR to 23.43% APR. It works out to 24 monthly payments ranging from $1,356.68 to $1,530.54