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Sofi personal loan

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Regular Contributor

Sofi personal loan

Was approved for the sofi personal loan $90k at 8.75% for 5 years fixed. Signed the loan documents about 3 business days after online application and uploading my financials. Seemed too easy. Anyone know if there is a chance at this point of it not going through? Status online says pending review of signature.
First Ent Visa $21,800, Nasa PLOC $10K, Nasa CC $10K, Citi DoubleCash $12,200K, Penfed Promise $6K, Penfed Cash Rewards $5K, Total Rewards Visa $20K Lowes $35K QuickSilver CapOne WM $20K United Chase VS $2,800 Hyatt Chase VS $2,800 TJMaxx Mastercard $8K Barclays Rewards $3,700, Pier One $8,500 Walmart MC $8K Kohls $3K, Overstock $8,900, Discover $8K, Home Depot $20,700, JCP $10K, Victoria's Secret $5K, Ballard $10K, WilliamsSonoma Visa $11K, Grandin $4K, Banana Republic Visa $6K, Avianca Vida $25K, BoA $15K,BoA 3-2-1 $7,500
Message 1 of 19
18 REPLIES 18
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Super Contributor

Re: Sofi personal loan

Sofi loans are generally hassle free.  As long as they are able to verify the documents loaded, you should be alright.  Out of curiosity, how much is the monthly payment on a loan this large?

Message 2 of 19
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Regular Contributor

Re: Sofi personal loan

They are $1857 for 5 years
First Ent Visa $21,800, Nasa PLOC $10K, Nasa CC $10K, Citi DoubleCash $12,200K, Penfed Promise $6K, Penfed Cash Rewards $5K, Total Rewards Visa $20K Lowes $35K QuickSilver CapOne WM $20K United Chase VS $2,800 Hyatt Chase VS $2,800 TJMaxx Mastercard $8K Barclays Rewards $3,700, Pier One $8,500 Walmart MC $8K Kohls $3K, Overstock $8,900, Discover $8K, Home Depot $20,700, JCP $10K, Victoria's Secret $5K, Ballard $10K, WilliamsSonoma Visa $11K, Grandin $4K, Banana Republic Visa $6K, Avianca Vida $25K, BoA $15K,BoA 3-2-1 $7,500
Message 3 of 19
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Valued Contributor

Re: Sofi personal loan

That is a big monthly payment. I can only assume you are blessed with a very nice income, which is good for you!!
                               

Total Credit: $240,100Credit Utilization: 1%AAoA: 5 years, 7 monthsInstallments: Car Lease, Marcus LoanNegatives: 0

LOWES-35k | BOA-32.5k | AMEX-30k | DISC-27.1k | ALLIANT-25k | NFCU-25k | BARC-15k | BBUY-12k | CHASE-10k | WAL-10k | CITI-9.7k | PENFED-9.7k


Message 4 of 19
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New Member

Re: Sofi personal loan

Care to share any info on your scores, debt-to-income, etc? I haven't been able to pre-qualify for Sofi.

Merrick Bank $600 -- Bank Of America $800 -- Cap One (Quicksilver) $1200 -- Citizens Bank $1500 -- Citi (Double Cash) $2000 -- Discover $2500 -- Citi (Diamond Preferred) $4500 -- Amazon Store Card $4300

June 2016: EQ--671, TU--662, EX--661
Message 5 of 19
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Super Contributor

Re: Sofi personal loan


@nbean wrote:
They are $1857 for 5 years

Thanks for sharing.  That is a huge amount but I am sure you can make do.  Congrats.

Message 6 of 19
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Valued Contributor

Re: Sofi personal loan

The final funding is longer than other lenders. Some recent SoFi borrowers have had to wait up to 30 days before they actually got the funds in their account.

 

My advice would be patient and call them oncea week asking if they require any additional information and for an updated status.

 

Congrats on the loan.

Message 7 of 19
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Regular Contributor

Re: Sofi personal loan

Sure. Scores aren't great because of credit usage, and alot of new credit brought my avarage to just over 2years; between 688-706 across all 3. My annual is good though $220K. My DTI  is roughly 24%.

Loan still reflecting as pending review of signature documents. I hate waiting, but if it goes through it'll be worth it. 

First Ent Visa $21,800, Nasa PLOC $10K, Nasa CC $10K, Citi DoubleCash $12,200K, Penfed Promise $6K, Penfed Cash Rewards $5K, Total Rewards Visa $20K Lowes $35K QuickSilver CapOne WM $20K United Chase VS $2,800 Hyatt Chase VS $2,800 TJMaxx Mastercard $8K Barclays Rewards $3,700, Pier One $8,500 Walmart MC $8K Kohls $3K, Overstock $8,900, Discover $8K, Home Depot $20,700, JCP $10K, Victoria's Secret $5K, Ballard $10K, WilliamsSonoma Visa $11K, Grandin $4K, Banana Republic Visa $6K, Avianca Vida $25K, BoA $15K,BoA 3-2-1 $7,500
Message 8 of 19
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Regular Contributor

Re: Sofi personal loan

Ok, one phone call later, status was updated to loan will fund within 30 days. Then about 20minutes later it says conratulations your loan has funded and that it was transfering to servicer. IDK, from what I read on here it may mean the funds will be in the account tomorrow. Wish me luck.

First Ent Visa $21,800, Nasa PLOC $10K, Nasa CC $10K, Citi DoubleCash $12,200K, Penfed Promise $6K, Penfed Cash Rewards $5K, Total Rewards Visa $20K Lowes $35K QuickSilver CapOne WM $20K United Chase VS $2,800 Hyatt Chase VS $2,800 TJMaxx Mastercard $8K Barclays Rewards $3,700, Pier One $8,500 Walmart MC $8K Kohls $3K, Overstock $8,900, Discover $8K, Home Depot $20,700, JCP $10K, Victoria's Secret $5K, Ballard $10K, WilliamsSonoma Visa $11K, Grandin $4K, Banana Republic Visa $6K, Avianca Vida $25K, BoA $15K,BoA 3-2-1 $7,500
Message 9 of 19
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Regular Contributor

Re: Sofi personal loan

Funds hit my account and this morning I paid everything off! Man it feels good. The monthly payments have been reduced by $600/month and I know that in 5years it'll be paid in full. I highly recommend Sofi if anyone is considering. Their rates were the best offered accross the personal lending sites and a really smooth process, so smooth I was freaking myself out thinking something must be wrong. Whole thing took 8 days inclusive of the 4th holiday and the weekends.

First Ent Visa $21,800, Nasa PLOC $10K, Nasa CC $10K, Citi DoubleCash $12,200K, Penfed Promise $6K, Penfed Cash Rewards $5K, Total Rewards Visa $20K Lowes $35K QuickSilver CapOne WM $20K United Chase VS $2,800 Hyatt Chase VS $2,800 TJMaxx Mastercard $8K Barclays Rewards $3,700, Pier One $8,500 Walmart MC $8K Kohls $3K, Overstock $8,900, Discover $8K, Home Depot $20,700, JCP $10K, Victoria's Secret $5K, Ballard $10K, WilliamsSonoma Visa $11K, Grandin $4K, Banana Republic Visa $6K, Avianca Vida $25K, BoA $15K,BoA 3-2-1 $7,500
Message 10 of 19
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