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SoFi loan application...does this mean I'm approved?

New Member

SoFi loan application...does this mean I'm approved?

Hi all.  I recently applied for a SoFi loan for $30k.  I got through the pre-approval and had to enter my income verification, etc, and now all my boxes are checked including "Sign Acceptance Packet".  My loan is now in review and states "We are reviewing your signed documents. Please check back."

 

Does this mean I'm approved?  I called SoFi after about 3 days in this status and they simply told me they were still reviewing my application.  I asked if I had been approved and she said not yet, yet a few searches I conducted are leading me to believe otherwise.

 

Anyone have experience with this?

Message 1 of 7
6 REPLIES
Valued Member

Re: SoFi loan application...does this mean I'm approved?

Hi there. Personal loans usually takes up to 4-5 weeks to receive the funds. They are validation includes your personal income verification and the loan amounts should be backed up by investors (this is the only wait). Good luck and hope your loan will be backed up by investors and you will soon receive the funds. 👍
Date 07/01/2018




Message 2 of 7
New Member

Re: SoFi loan application...does this mean I'm approved?

Interesting then that they told me 2-4 days. I'll give it another few days and check in with them I guess. Their process is confusing.
Message 3 of 7
Established Member

Re: SoFi loan application...does this mean I'm approved?

I applied for a Sofi 50K loan a couple of weeks ago.   The same exact thing happened.  The screen said they were reviewing my signed documents.  about 3 days later, I got the approval email and told to call to verify, I called and the money was in my account the next day.  It took exactly one week from application to receiving funds and this was over the 4th of July week.

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Message 4 of 7
New Member

Re: SoFi loan application...does this mean I'm approved?

I ended up being the same. Just got my money today. Long process when compared to a normal bank but my credit union probably wouldn't have loaned me 30k at the rate SoFi did, or at all!
Message 5 of 7
Established Member

Re: SoFi loan application...does this mean I'm approved?

Any data point
AA
Income
Did they request Tax Docs, bank statement pay stubs
Message 6 of 7
New Member

Re: SoFi loan application...does this mean I'm approved?

Not sure what some of that means... But I had to submit paystub, employment verification, and driver's license.
Message 7 of 7