Mortgage Refinance

Refinance your mortgage and save—without the hassle.

SoFi could help you save money when you refinance your mortgage—and make sure the process is as stress-free and transparent as possible.

View your rateWon’t affect your credit score.✝

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Choose your mortgage
refinance rate.

A new mortgage refinance rate or term could be a game changer for your finances.

30-year fixed1

5.625% Rate

6.044% APR

Enjoy fixed
monthly payments and a
constant interest rate.

20-year fixed2

5.625% Rate

6.186% APR

Pay your home loan off over 20 years while maintaining a constant interest rate and monthly payment.

15-year fixed3

5.000% Rate

5.689% APR

Pay your home loan off faster while maintaining a constant interest rate and monthly payment.

10-year fixed4

5.000% Rate

5.985% APR

Pay your home loan off over 10 years while maintaining a constant interest rate and monthly payment.

All APRs are updated daily

View your rate

Need help finding the best option for your unique needs? Get in touch with a Mortgage Loan Officer at (844)-763-4466.

How SoFi Mortgage Refinancing Loans work.

Applying for mortgage refinancing with SoFi is simple with an application that can be done all online. Our MLOs can give you one-on-one assistance through every step of your home refinancing.

  1. 1

    Pre-qualify without the hassle.

    It takes just minutes to get pre-
    qualified for a home loan refinance online.

  2. 2

    Select your home refinance.

    Find the mortgage refinancing option with the interest rate and monthly payments that match your goals and complete your application.

  3. 3

    Receive the funds.

    Once an underwriter has reviewed and approved your application, just sign your paperwork and we’ll process your home refinancing.

Mortgage refinance requirements.

Every homeowner is unique and so is every mortgage refinancing. Here are a few factors that can affect your refinance rates.

Credit score

What’s your score? Your credit score can impact your refinance rate, monthly payments, closing costs, and mortgage refinancing options.

Credit score

What’s your score? Your credit score can impact your refinance rate, monthly payments, closing costs, and mortgage refinancing options.

Home equity

Has the value of your home changed? Getting an appraisal and assessing the equity of your home is the first step in your home refinance.

Ownership length

How long have you owned your home? Your length of ownership can affect the terms of your mortgage refinance rate.

View your rate

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Learn more about refinancing a mortgage.

Thinking about home refinance? Here are a few resources to get you started.

December 15, 2022

How Soon Can You Refinance a Mortgage?

July 07, 2023

How to Lower Your Mortgage Payment

July 02, 2023

How Often Can You Mortgage Refinance?

FAQs

Your home is a long-term investment. Refinancing could help you save money over the lifetime of your mortgage. You could get a shorter term, lower monthly payments, or get a cash out refinance loan on your home’s equity.
As of April 2020, the average national mortgage closing costs for a single family home was $5,749, including taxes. These costs can include the lender’s title, owner’s title, home appraisal, settlement fees, recording fees, land surveys, and transfer tax. Your home refinance costs can vary based on the size of your mortgage, your terms, and the state in which you live.
As a homeowner makes monthly payments on a mortgage, each payment typically contains a mixture of principal and interest. Refinancing for a lower mortgage refinance rate would help you pay less toward interest and more toward the principal of your mortgage.
Homeowners often look to refinance when it could benefit them in some way, like with a lower interest rate or monthly payment. This guide breaks down a few signs that it may be time to look at mortgage refinancing as an option.

Learn more: 7 Signs It’s Time for a Mortgage Refinance
There is no one-size-fits-all approach to mortgage refinancing. However, for a large mortgage, even a change of 0.5% could result in significant savings—especially if you can avoid or minimize lender fees.
Lenders typically want at least 20% of equity (80% loan to value) to exist for a refinance to take place, although that ratio is not universal. This article breaks down common refinancing costs and how equity can affect your home refinance.

Learn more: How Much Does It Cost to Refinance a Mortgage?
Refinancing a home to a shorter term will likely save you a good amount of money in interest. Loans with shorter terms typically come with lower interest rates and borrowers often pay less interest over the life of the mortgage. Shorter term loans also allow buyers to build equity more quickly.

Learn more: A Guide to Choosing a Mortgage Term

See more FAQs

Apply online or call for a complimentary
mortgage consultation.

Just call (844)-763-4466 to get in touch with our Mortgage Loan Officers. Ready to jump in? Pre-qualify online.

Get pre-qualified

1 30-YEAR Payment Example: The payment for a 30-year term, loan amount $362000.00, Rate 5.625%, LTV 80% is $2129.00 for full Principal and Interest Payments with $7790.24 due at closing. The Annual Percentage Rate is 6.044%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.

2 20-YEAR Payment Example: The payment for a 20-year term, loan amount $362000.00, Rate 5.625%, LTV 80% is $2570.00 for full Principal and Interest Payments with $7790.24 due at closing. The Annual Percentage Rate is 6.186%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.

3 15-YEAR Payment Example: The payment for a 15-year term, loan amount $362000.00, Rate 5.000%, LTV 80% is $2924.00 for full Principal and Interest Payments with $7659.92 due at closing. The Annual Percentage Rate is 5.689%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.

4 10-YEAR Payment Example: The payment for a 10-year term, loan amount $362000.00, Rate 5.000%, LTV 80% is $3922.00 for full Principal and Interest Payments with $7659.92 due at closing. The Annual Percentage Rate is 5.985%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.