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@Anonymous wrote:
In any case, I didn't really know about SOFI prior to me getting my Lending Club loan. I probably would have went for SOFI first just because the APR is seemingly less, but it's too late now. Both have origination fees, which is a percentage of the loan, so please take that into consideration.
There are no fees for SoFi loans. You get the full amount of the loan.
I'm curious what stats were you putting in?
I tried it for giggles on a mortgage refinance just to see and it came back and told me to GTFO which is kinda absurd unless they're portfolioing. I did put though I hadn't graduated college which outside of my 700ish FICO scores was the only detrimental thing in there.
I believe SoFi started as a sort of Alumni lending program prior to becoming SoFi. I know in the application they ask which degree(s) you have earned and from where.
Once you get to five days or so I would recommend that you call customer service. Tell them you are checking in with them to see if they have all of the information they need.
If I remember correctly I waited a long 7-8 days and finally called. They verified my information amd called me on my home phone (I guess to ensure it was a legitamate number), the next day funds were transfered into my account.
I know it felt like forever when the loan was in the funding stage. I guess we(myself) have all grown pretty impatient when waiting for a financial decision. When I step back and look I realize they are loaning pretty big amounts and they should check everything.
Good luck!
Got the "you've been funded" message last night, and this morning I had the funds in my checking account.
So six business days from when I was approved, one day less than the 7-10 day window I was given.
Scheduled all my payments to my cards this morning. Super happy. Now I just need to wait until all my statements cut and my reports get updated.
Thanks for sharing... good to know
thanks for sharing your story, it encouraged me. May I ask what was your debt to income ratio? (loan amount to income ratio? )
Whenever I ask major banks, they never want to tell me what is a good number to be at! they just keep repeating that it depends on many factor