SoFi Personal Loan Approval Time?

[jgbishop]

I ran into a bit of unplanned financial times lately and had to rely heavily on my credit cards. To gain some breathing room back, i decided to apply for a SoFi personal loan after doing some research. I'm curious to what is the normal process time? I applied Tuesday night (July 12). I was asked to verify address on Wednesday afternoon (July 13). Any idea how long it may be before I get approval/rejected? Stats below:

Credit Scores: all three 695-705 Fico 8
Income well above average for my age (26)
DTI: 40%
Utilization: ~95% (this is why I'm worried I may get rejected)
BS in Engineering with 4 years in industry and completely clean credit history aside from high utilization at the moment.

Thoughts?

[jgbishop]

Forgot: Requested loan is 15k

[Appleman]

SoFi loans can take up to 30+ days. 

A recent poster took only 8 days or so over the 4th of July from application to $90,000+ funding.

Other posters have been approved and then have to wait weeks for funding.

Did you do the pre-qualify for thge SoFI loan.

95% utilization may be a road block but they do look at the total financial picture.

[jgbishop]

I "qualified" using the soft pull/find my rate for up to 50k. I assume that's what you're referring to

[jgbishop]

Followup: I signed loan documents this evening. Awaiting review and funding disbursement

[Anonymous]

---

@jgbishop wrote:
Followup: I signed loan documents this evening. Awaiting review and funding disbursement

---

Nice. Congrats on your loan.

[Appleman]

Good luck, and I hope the process is quick!