SoFi HELOCs and Home Equity Loans: 2026 Review

4.1 _/5

Our take: SoFi’s home equity loans and HELOCs can be tough to qualify for and have high minimum borrowing amounts, but their higher-than-average CLTVs and options without origination fees might be worth your consideration if you need a larger loan.

Home Equity Loan

• More flexible debt-to-income ratio (50%)
• Loans without origination fees are possible
• Low starting fixed rate
• Easy online application
• Flexible repayment terms
• High combined loan-to-value ratio

• Higher credit score requirements than many competitors
• High minimum loan amount
• Less transparent terms, conditions, and fees
• Higher rates for origination-free loans

Rates (APR)	Starting at 6.99% fixed
Funding amount	$50,000 – $350,000
Max. CLTV	85%
Repayment	5 – 30 years
Min. credit score	680

Home equity line of credit (HELOC)

• Loans without origination fees are possible
• Easy online application
• High combined loan-to-value ratio

• Variable rates not publicly disclosed
• Higher credit score requirements than many competitors
• High minimum loan amount
• Less transparent terms, conditions, and fees
• Higher rates for origination-free loans

Rates (APR)	Undisclosed (variable)
Funding amount	$50,000 – $500,000
Max. CLTV	90%
Repayment	Draw: Up to 10 years Repayment: Up to 20 years
Min. credit score	680

SoFi is an online bank and lender that offers a wide range of financial products, including bank accounts, personal loans, private student loans, and mortgages. Though home equity loans and home equity lines of credit (HELOCs) aren’t SoFi’s bread and butter (and may be offered through its partner lender, SpringEQ), they are still quality options when you want to tap into your home equity to fund home renovations, consolidate debt, or make big purchases.

SoFi home equity loan

Rates and terms

Rates (APR)	Starting at 6.99% fixed
Loan amounts	$50,000 – $350,000
Funding time	Roughly 30 days to close, 3 days for funds to disburse
How to withdraw funds	Deposited as a lump sum into a linked checking or savings account
Repayment	5 – 30 years
Fees	No origination fee home equity loan options available; origination fee amounts and closing costs not disclosed

How it works

If approved for a SoFi home equity loan, you’ll receive a lump sum in the amount for which you were approved, all at once. It generally takes about 30 days to close, and funds are disbursed within three days. Note that SoFi offers home equity loans without origination fees, but not everyone qualifies.

Depending on your loan agreement with SoFi, you’ll then have five to 30 years to repay the home equity loan. You’ll have fixed monthly payments (and a fixed interest rate).

Eligibility

Max. CLTV	85%
Min. credit score	680
Max. DTI	50%
Min. home equity	20%
Availability	Not disclosed

What to know

Before applying for a SoFi home equity loan, here are a few things to keep in mind:

• Top lender: We ranked SoFi among the top home equity loan lenders. You really won’t find many better options than what you’ll get with SoFi.
• Credit score: Qualifying can be more challenging because SoFi has stricter home equity loan credit score requirements than many of its competitors.
• Fixed rates: All home equity loan rates are fixed and currently start at 6.99%, but that doesn’t mean yours will. SoFi says its lowest rates are reserved for the most creditworthy borrowers (i.e., a credit score in the 800s and a low debt-to-income ratio) and for loan amounts above $100,000.
• No origination fee: As with the HELOCs, it’s possible to get a SoFi home equity loan without paying an origination fee, but not everyone will qualify. SoFi doesn’t publicly state how much origination fees cost if you don’t go with the fee-free option, and your interest rate will be higher if you do choose the option without an origination fee.
• Loans through partner: While SoFi may offer a home equity loan directly, it often serves as a broker to SpringEQ, which may have high closing costs and an annual fee.

SoFi HELOC

Rates and terms

Rates (APR)	Not disclosed (variable)
Loan amounts	$50,000 – $500,000
Funding time	Roughly 30 days to close, 3 days for funds to disburse
Draw period	Up to 10 years
How to withdraw funds	Write a check from your HELOC account or transfer money from the HELOC account to a checking or savings account
Repayment	Up to 20 years
Fees	No origination fee HELOC options available; origination fee amounts and closing costs not disclosed

How it works

You can get a SoFi home equity line of credit if you have at least 15% equity in your home. You’ll also need a credit score of at least 680 and a debt-to-income ratio no greater than 45%. If you qualify, you can access up to 90% of your home’s equity (max $500,000).

SoFi HELOCs take about a month to close, at which time you’ll pay closing costs. (Some SoFi HELOCs are available without an origination fee, but only to eligible borrowers.) Then you’ll be able to draw from the credit line for up to 10 years, as needed. Then, you’ll have up to 20 years to repay what you borrowed.

These HELOCs have a variable interest rate, related to the prime rate, but SoFi doesn’t disclose specifics until you apply.

Eligibility

Max. CLTV	90%
Min. credit score	680
Max. DTI	45%
Min. home equity	15% – 20%
Availability	Not disclosed

What to know

Before applying for a SoFi HELOC, here are a few things to keep in mind:

• Minimum draw amount: SoFi’s minimum draw amount is $50,000. If you need a smaller amount, consider a different HELOC lender or a personal loan.
• Credit score: SoFi’s credit score requirements for HELOCs are higher than those of many other lenders. If you’re worried about qualifying, choose a HELOC lender with less stringent credit score requirements (but note that your rate may be higher with a lower score).
• CLTV: SoFi has one of the industry’s highest combined loan-to-value (CLTV) ratios, which means you may be able to access more of your home’s equity.
• No origination fees: SoFi offers HELOC options with no origination fees, but not everyone will qualify. In addition, if you choose the option without an origination fee, SoFi reports that interest rates will be higher. This may not be worth the long-term tradeoff.
• HELOCs through partner: While SoFi may offer a home equity line of credit directly, it often serves as a broker to SpringEQ, which may have high closing costs and an annual fee.

Alternatives

SoFi vs. Figure

We have rated Figure as the best overall home equity line of credit option. Figure’s credit score requirements are admittedly tougher (720 or higher), but we love Figure’s fast funding, lack of closing costs and annual fees, and fixed interest rates. (Most HELOCs have variable rates.)

SoFi vs. Trovy

Trovy offers HELOCs to borrowers with credit scores as low as 640 and a debt-to-income ratio as high as 45%. The minimum property value is only $100,000, and you can get approved for an amount as low as $10,000. There’s also no required upfront draw, and the HELOC functions more like a credit card, backed by your home.

SoFi vs. New American Funding

New American Funding has a lower credit score requirement (620) than most other lenders for its home equity loans and HELOCs. Plus, its products are available nationwide, including Washington, D.C., and Puerto Rico.

How to apply

Think a SoFi home equity loan or HELOC is right for you? Let’s break down how to apply.

SoFi’s HELOC and home equity loan application processes take place entirely online and over the phone; no in-person visits necessary (or possible—SoFi is online-only). Here’s what to do:

1. Answer a few questions: Start by answering a few questions on SoFi’s website. You’ll need to include details about your property, your mortgage, and the amount of money you want to borrow.
2. Get connected with a loan officer: Based on your answers, SoFi will offer some preliminary info and match you with a dedicated loan officer who can walk you through the more nuanced application process.
3. Fill out the application: Under your loan officer’s guidance, complete the online application and include all the necessary documentation. This typically includes proof of identity, proof of homeowners’ insurance, a property title search, and a mortgage statement or deed of trust. You’ll also typically need to agree to an appraisal, which you can work on with your dedicated loan officer.
4. Review the terms: If approved, you’ll have to sign a bunch of loan paperwork and wait about 30 days for the loan to close (much like when buying a house). Review the loan terms carefully before signing.

Recap: SoFi HELOC and home equity loan review

We designed LendEDU’s editorial rating system to help readers find companies that offer the best home equity loans. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared SoFi to several home equity loan lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating and best-for designation, recapped below.