Mobile, manufactured, modular. These types of homes sound similar, and they’re all prefabricated, but they differ in cost, customization, ease of financing, and more.
When it comes to old mobile homes and modular vs. manufactured homes, here’s what to know if you’re considering a purchase.
What Is a Mobile Home?
Unlike a stick-built, or traditional, home built from the ground up, a mobile home was built in a factory before mid-1976 and transported on wheels to its destination. The name is a bit of a misnomer: Most are never moved.
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What Is a Manufactured Home?
A manufactured home is built in a factory, then transported to its destination in one or more sections. Sound familiar? That’s because manufactured homes are the 2.0 version of mobile homes.
In 1976, the U.S. Department of Housing and Urban Development (HUD) changed the “mobile home” classification to “manufactured” legally and began to regulate the construction and durability of the homes.
More change and innovation have come with time. That is covered below.
What Is a Modular Home?
Modular homes start their lives in a factory, where modules of the homes are built. The pieces, usually with wiring, plumbing, insulation, flooring, windows, and doors in place, are transported to their destination and assembled like a puzzle.
Modular homes are comparable to stick-built homes in most ways other than birthplace.
How Mobile, Manufactured, and Modular Homes Differ
These homes may all share a starting point, but there are key differences to know, whether you’re a first-time homebuyer or not. For the sake of simplicity, let’s compare manufactured homes and modular homes.
Construction
Manufactured homes are built from beginning to end in a factory on a steel chassis with its own wheels. Once a manufactured home is complete, it’s driven to its destination, where the wheels and axles are usually removed and skirting added to make it look like a site-built home, or it may be attached to a permanent foundation.
Construction and installation must comply with the HUD Code (formally the Manufactured Home Construction and Safety Standards) and local building codes.
Modular homes are built in pieces in a factory, then transported to the property. From there, a team assembles the home on a permanent foundation.
While a modular home may be built states away from its final home, it needs to comply with the state and local building codes where it ultimately resides.
Manufactured Homes
Modular Homes
Fully factory-built?
Yes
No (but mostly)
Permanent foundation?
Not commonly
Yes
Construction regulated by
HUD Code
State and local codes
Design
There’s a fair share of design differences when it comes to modular vs. manufactured homes.
Manufactured homes come in three standard sizes:
• Single-wide: roughly 500 to 1,100 square feet
• Double-wide: about 1,200 to 2,000 square feet
• Triple-wide: 2,000+ square feet
The most significant limiting design factor of manufactured homes is the layout. As they must be delivered fully assembled on a trailer, they only come in a rectangular shape. In the case of single- or double-wides, there’s not much space to separate rooms or interior hallways to connect them.
In terms of design, there’s much more freedom in modular homes. They can be just about any style, from log cabin to modern, and can have more than one floor.
The design options of a modular home are similar to a stick-built home. Floor plan and style are only limited by a buyer’s budget and space. A modular home may look just like a site-built home upon completion.
Manufactured Homes
Modular Homes
Size limitations
Yes, single-, double-, or triple-wide
No
Shape limitations
Yes, rectangular only
No
Customization Options
Most makers of manufactured homes allow some customization, including:
• Custom kitchen layout and cabinetry
• Porches
• Custom layouts (within the confines of prefab shapes)
• Siding
• Built-in lighting
• Ceiling finish
• Fireplace
• Tiling
Similar to stick-built homes, modular homes have nearly endless customization options. From the style of the home to its size and layout, modular homes offer more flexibility for buyers.
Expense
The expense of a modular home vs. manufactured home can vary dramatically.
A modular home — also sometimes called a kit home — may cost less than a stick-built home, but it usually costs a lot more than a manufactured home.
Both modular and manufactured homes have a separate expense: land. In the case of manufactured homes, it may be possible to rent the land the home is delivered to, but owners of modular homes will need to buy the land they want to build on.
Another cost associated with modular homes is the foundation, which needs to be in place when the modules arrive. Manufactured homes affixed to a permanent foundation on land owned by the homeowner are considered real property, not personal property.
Here are some typical expenses associated with each home:
Manufactured Home
Modular Home
Average cost
$85,800 for a single-wide
$159,200 for a double-wide
$200,000 to $400,000 (2,000 square feet, including installation but not the land)
Foundation
$4,000 to $13,000
$4,000 to $13,000
Land
Is often rented; varies by location
$55,000 median; varies by location
Another expense to keep in mind is financing. An existing modular home will qualify for a conventional mortgage or government-backed loan if the borrower meets minimum credit score, income, and down payment requirements.
Homebuyers building a new modular home often will need to obtain a construction loan.
Manufactured and mobile home financing is trickier. The key is whether the home is classified as real or personal property.
Manufactured homes classified as real property, including those used as accessory dwelling units that are at least 400 square feet, might qualify for a conventional or government-backed loan.
Financing options for mobile and manufactured homes classified as personal property include a chattel mortgage and an FHA Title I loan.
Mobile, manufactured, and modular homes have key differences. A manufactured home on leased land is not considered real property, while a modular home, always on its own foundation and land, is, and compares in most ways to a traditional stick-built home.
SoFi does not finance manufactured homes but will, if you qualify, refinance a construction-only loan to a traditional home mortgage loan or provide a mortgage for an existing modular home.
SoFi mortgages have lots of advantages, including low down payments. Find your rate with no obligation.
FAQ
Is a modular home better than a manufactured home?
In terms of appreciation and resale value, a modular home has the edge over most manufactured homes. And if a manufactured home is on leased land, the owner may face lot fees that keep rising.
What’s the price difference between mobile, manufactured, and modular homes?
Generally, mobile and manufactured homes are much less expensive than modular homes. A mobile home, by its very definition, was built before mid-1976. The size of the price gaps depend on how customized the home is, where it is, and how large it is.
Between manufactured and modular homes, which is fastest to build?
Unless there are factory or supply chain delays, manufactured homes are typically faster to build than modular homes. (Of note: A modular home can often be built much faster than a stick-built home.)
Photo credit: iStock/Marje
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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
The monthly amount that you pay on a mortgage for $700,000 covers the principal payment and interest, and your exact payment depends on several variables, including your interest rate. A $700,000, 30-year mortgage with a 6% interest rate, for example, costs around $4,200 monthly. However, there may be additional costs that you have to pay throughout the life of the loan, not to mention upfront costs that you must pay when you first close on the home.
The monthly cost of a mortgage depends on the interest rate, the length of the loan, and any additional costs, such as private mortgage insurance (PMI) charged on some loans. Mortgage loan terms are typically from 15 years to 30 years, and the monthly payments for a 15-year loan can be much higher than the payments for a 30-year loan, although, over its lifetime, the 30-year mortgage is typically more costly because interest costs are higher.
Here’s a look at how much a 700,000 mortgage might cost per month for a 15-year or 30-year loan term with various interest rates.
• The monthly cost of a $700,000 mortgage depends on factors like interest rate, loan term, and down payment.
• Using a mortgage calculator can help estimate monthly payments and determine affordability.
• Factors like property taxes, homeowners insurance, and private mortgage insurance (PMI) can also affect the overall cost.
• It’s important to consider your budget and financial goals when determining the affordability of a mortgage.
• Working with a lender or mortgage professional can provide personalized guidance and help you understand the costs involved.
First-time homebuyers can
prequalify for a SoFi mortgage loan,
with as little as 3% down.
Questions? Call (888)-541-0398.
What Is the Total Cost of a $700K Mortgage?
A $700,000 30-year mortgage with a 6% interest rate (which, as noted above, costs around $4,200 monthly) has a total cost of $1,510,867. The same loan over 15 years would have a $5,900 monthly payment and a total cost of $1,063,260. These amounts are simply estimates; exact costs will depend on interest, escrow, taxes, and insurance. A rule of thumb when buying a home is to not pay more than 28% of your gross monthly income. So someone whose monthly mortgage payment is $4,200 would need to take home at least $15,000 a month.
💡 Quick Tip: Buying a home shouldn’t be aggravating. SoFi’s online mortgage application is quick and simple, with dedicated Mortgage Loan Officers to guide you through the process.
The Upfront Costs of a $700K Mortgage
When you buy a house and take out a mortgage, in addition to your down payment, you will have to pay closing costs. Closing costs are mostly the administrative expenses for closing the deal. They include mortgage lender fees, titling fees, insurance fees, taxes, and appraisal fees. These costs are typically not covered by your down payment. Here’s a closer look at some upfront costs a buyer will face.
Earnest money Also known as a deposit, this is the money you put down to show the seller you’re serious about buying their place.
Down payment The amount you pay as a down payment will depend on the type of home loan. A conventional loan without private mortgage insurance (PMI) may call for a 20% down payment. On the other hand, you might get a conventional loan with mortgage insurance with a 3% down payment. A down payment for a Federal Housing Administration loan is typically around 3.5%, and Veterans Affairs loans or U.S. Department of Agriculture loans have no down payment required.
The more you can afford as a down payment, the less interest you will pay because the lender considers you less risky as a borrower.
Closing costs Your lender will charge you fees for administrative services, such as application, origination, and underwriting fees. And then there are transfer taxes associated with transferring the title from the seller to the buyer.
Your mortgage payments pay down the principal and the interest on your loan. Proportionally, more of your payment will go toward interest rather than the principal at the beginning of the loan term, and at the end of the loan term, more of your payment will go toward paying down the principal.
If you paid less than 20 percent as a down payment, your mortgage lender may also require you to pay private mortgage insurance (PMI) on a monthly basis. However, there are also other long-term costs:
Property taxes These can add up to thousands of dollars a year and can change annually, or as often as your town raises taxes.
Home maintenance One rule of thumb is to set aside 1% of your home’s total value each year for maintenance costs.
HOA, condo, or co-op fees If your home is a condo or part of a homeowners association (HOA) or co-op, you will need to pay a monthly fee. The fee covers services such as grounds maintenance, use of a community center, and snow removal. HOA fees can range anywhere from $100 to $1,000.
Homeowners’ and hazard insurance Some areas are designated “high risk” for natural disasters, such as floods, earthquakes, wildfires, or severe storms. If your home is located in one of these areas, you will need to pay hazard insurance, which could cost between 0.25% to 0.33% of the home’s value paid annually.
The table below shows the estimated monthly payments for a $700,000 mortgage loan for both a 15-year and a 30-year loan with interest rates varying from 5% to 8%.
Interest rate
15-year term
30-year term
5%
$5,567
$3,779
5.5%
$5,752
$3,997
6%
$5,941
$4,221
6.5%
$6,133
$4,450
7%
$6,328
$4,684
7.5%
$6,526
$4,922
8%
$6,728
$5,166
How Much Interest Is Accrued on a $700K Mortgage?
The amount of interest accrued on a $700,000 mortgage will depend on the length of the loan and the interest rate. A shorter loan term will mean less accrued interest. For example, for a 15-year loan for $700,000 with a 6% interest rate, the interest would amount to around $363,259 over the life of the loan. For a 30-year loan with a 6% interest rate, the interest would be more than double at $810,867.
Amortization Breakdown for a $700K Mortgage
An amortization schedule for a mortgage loan tells you when your last payment will be and how much of your monthly payment goes toward paying off the principal and how much goes toward paying off the interest. At the beginning of the loan term, most of your payment will go toward the interest.
Below is the mortgage amortization breakdown for a $700,000 mortgage with a 6% interest rate for a 30-year loan.
Year
Beginning balance
Interest paid
Principal paid
Ending balance
1
$700,000.00
$8,596.08
$41,766.16
$691,403.92
2
$691,403.92
$9,126.27
$41,235.97
$682,277.65
3
$682,277.65
$9,689.16
$40,673.09
$672,588.49
4
$672,588.49
$10,286.76
$40,075.48
$662,301.73
5
$662,301.73
$10,921.23
$39,441.02
$651,380.50
6
$651,380.50
$11,594.83
$38,767.42
$639,785.67
7
$639,785.67
$12,309.97
$38,052.27
$627,475.70
8
$627,475.70
$13,069.22
$37,293.02
$614,406.48
9
$614,406.48
$13,875.30
$36,486.94
$600,531.18
10
$600,531.18
$14,731.10
$35,631.14
$585,800.07
11
$585,800.07
$15,639.68
$34,722.56
$570,160.39
12
$570,160.39
$16,604.30
$33,757.94
$553,556.09
13
$553,556.09
$17,628.42
$32,733.82
$535,927.66
14
$535,927.66
$18,715.70
$31,646.54
$517,211.96
15
$517,211.96
$19,870.05
$30,492.20
$497,341.91
16
$497,341.91
$21,095.59
$29,266.65
$476,246.32
17
$476,246.32
$22,396.72
$27,965.52
$453,849.60
18
$453,849.60
$23,778.10
$26,584.14
$430,071.50
19
$430,071.50
$25,244.68
$25,117.56
$404,826.82
20
$404,826.82
$26,801.72
$23,560.53
$378,025.10
21
$378,025.10
$28,454.79
$21,907.46
$349,570.31
22
$349,570.31
$30,209.82
$20,152.43
$319,360.50
23
$319,360.50
$32,073.09
$18,289.15
$287,287.40
24
$287,287.40
$34,051.29
$16,310.95
$253,236.11
25
$253,236.11
$36,151.50
$14,210.74
$217,084.61
26
$217,084.61
$38,381.25
$11,981.00
$178,703.36
27
$178,703.36
$40,748.52
$9,613.73
$137,954.85
28
$137,954.85
$43,261.80
$7,100.45
$94,693.05
29
$94,693.05
$45,930.09
$4,432.15
$48,762.96
30
$48,762.96
$48,762.96
$1,599.29
$0.00
What Is Required to Get a $700K Mortgage?
Let’s say you want to buy a home for $875,000 with a down payment of 20% or $175,000. To qualify for a 30-year mortgage loan of $700,000 with a 6% interest rate, you would need to earn around $180,000 annually. For a 15-year loan, you would need to earn around $253,000 annually.
This calculator shows you how much of a mortgage you can afford based on your gross annual income, your monthly spending, your down payment, and the interest rate.
How Much House Can You Afford Quiz
The Takeaway
When calculating how much a mortgage loan for $700,000 will cost per month, the principal and interest are two of the biggest components. However, there are other costs that may be included, such as private mortgage insurance. And don’t forget about closing costs as well.
The length of the loan will drastically affect the amount of interest paid over the life of the loan. For example, the interest paid on a 30-year loan versus a 15-year loan with a 6% interest rate could be more than double.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
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FAQ
What will the monthly payments be for a $700K mortgage?
The longer your loan term, the lower your monthly payment on a mortgage loan, but you will pay more interest over the life of the loan. The exact monthly payment for a $700,000 mortgage will depend on the interest rate and the loan term. The payment for a $700,000 30-year mortgage with a 6% interest rate is approximately $4,200. For a 15-year loan with the same interest rate, the monthly payment is around $5,900.
How much do I need to earn to afford a $700K mortgage loan?
To buy a home for $875,000 with a down payment of 20% or 175K, and with a 30-year mortgage loan of $700,000 with a 6% interest rate, you would need to earn around $180,000 annually. For a 15-year loan, you would need to earn around $253,000 annually.
How much down payment is required for a $700K mortgage loan?
The down payment you will pay will depend on the type of mortgage and the lender. Some lenders accept 3%, while some expect 20%. If your down payment is less than 20%, you might have to add private mortgage insurance (PMI) to your monthly payments.
Photo credit: iStock/Xacto SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
The definition of a U.S. Savings Bond is an investment in the federal government that helps to increase your money. By purchasing a savings bond, you are essentially lending money to the government which you will get back in the future, when the bond matures, with interest. Because these financial products are backed by the federal government, they are considered to be extremely low-risk. And, in certain situations, there can be tax advantages.
Key Points
• U.S. Savings Bonds are low-risk investments that involve lending money to the government, with returns of both principal and interest upon maturity.
• Two main types of savings bonds, Series EE and Series I, offer different interest structures, with Series I bonds providing inflation protection.
• Purchasing savings bonds can be done online through TreasuryDirect, with limits on annual purchases set at $10,000 for each series.
• Investing in savings bonds has pros, such as tax advantages and no fees, but also cons, including low returns and penalties for early redemption.
• Savings bonds have a maturity period of 30 years, but can be cashed in penalty-free after five years, depending on certain conditions.
Savings Bond Definition
First, to answer the basic question, “What is a savings bond?”: Basically, it is a loan issued by the U.S. Treasury and made to the U.S. government. Purchase a savings bond, and you are loaning that money to the government. At the end of the bond’s 30-year term, you receive your initial investment plus the compounded interest.
You may withdraw funds before then, as long as the bond has been held for at least five years.
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How Do Savings Bonds Work?
Savings bonds are issued by the U.S. Treasury. You can buy one for yourself, or for someone else, even if that person is under age 18. (That’s why, when you clean out your closets, you may find a U.S. Savings Bond that was a birthday present from Grandma a long time ago.)
You buy a savings bond for face value, or the principal, and the bond will then pay interest over a specific period of time. Basically, these savings bonds function the same way that other types of bonds work.
• You can buy savings bonds electronically from the U.S. Treasury’s website, TreasuryDirect.gov . For the most part, it’s not possible to buy paper bonds anymore but should you run across one, you can still redeem them. (See below). Unlike many other types of bonds, like some high-yield bonds, you can’t sell savings bonds or hold them in brokerage accounts.
How Much Are Your Savings Bonds Worth?
If you have a savings bond that has been tucked away for a while and you are wondering what it’s worth, here are your options:
• If it’s an electronic bond, you will need to create (if you don’t already have one) and log onto your TreasuryDirect account.
Savings Bonds Interest Payments
For U.S. Savings Bonds, interest is earned monthly. The interest is compounded semiannually. This means that every six months, the government will apply the bond’s interest rate to grow the principal. That new, larger principal then earns interest for the next six months, when the interest is again added to the principal, and so on.
3 Different Types of Savings Bonds
There are two types of U.S. Savings Bonds available for purchase — Series EE and Series I savings bonds. Here are the differences between the two.
1. Series EE Bonds
Introduced in 1980, Series EE Bonds earn interest plus a guaranteed return of double their value when held for 20 years. These bonds continue to pay interest for 30 years.
Series EE Bonds issued after May 2005 earn a fixed rate. The current Series EE interest rate for bonds issued as of November 1, 2024 is 2.60%.
2. Series I Bonds
Series I Bonds pay a combination of two rates. The first is the original fixed interest rate. The second is an inflation-adjusted interest rate, which is calculated twice a year using the consumer price index for urban consumers (CPI-U). This adjusted rate is designed to protect bond buyers from inflation eating into the value of the investment.
When you redeem a Series I Bond, you get back the face value plus the accumulated interest. You know the fixed rate when you buy the bond. But the inflation-adjusted rate will vary depending on the CPI-U during times of adjustment.
The current composite rate for Series I Savings Bonds issued as of November 1, 2024 is 3.11%.
3. Municipal Bonds
Municipal bonds are a somewhat different savings vehicle than Series I and Series EE Bonds. Municipal Bonds are issued by a state, municipality, or country to fund capital expenditures. By offering these bonds, projects like highway or school construction can be funded.
These bonds (sometimes called “munis”) are exempt from federal taxes and the majority of local taxes. The market price of bonds will vary with the market, and they typically require a larger investment of, say, $5,000. Municipal bonds are available in different terms, ranging from relatively short (about two to five years) to longer (the typical 30-year length).
How To Buy Bonds
You can buy Series EE and I Savings Bonds directly through the United States Treasury Department online account system called TreasuryDirect, as noted above. This is a little bit different than the way you might buy other types of bonds. You can open an account at TreasuryDirect just as you would a checking or savings account at your local bank.
You can buy either an EE or I Savings Bond in any amount ranging from a $25 minimum in penny increments per year. So, if the spirit moves you, go ahead and buy a bond for $49.99. The flexible increments allow investors to dollar cost average and make other types of calculated purchases.
That said, there are annual maximums on how much you may purchase in savings bonds. The electronic bond maximum is $10,000 for each type. You can buy up to $5,000 in paper Series I Bonds using a tax refund you are eligible for. Paper EE Series bonds are no longer issued.
If you are due a refund and you want to buy I Bonds, be sure to file IRS form 8888 when you file your federal tax return. On that form you’ll specify how much of your refund you want to use to buy paper Series I bonds, keeping in mind the minimum purchase amount for a paper bond is $50. The IRS will then process your return and send you the bond that you indicate you want to buy.
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The Pros & Cons of Investing in Savings Bonds
Here’s a look at the possible benefits and downsides of investing in savings bonds. This will help you decide if buying these bonds is the right path for you, or if you might prefer to otherwise invest your money or stash it in a high-yield bank account.
The Pros of Investing in Savings Bonds
Here are some of the upsides of investing in savings bonds:
• Low risk. U.S. Savings Bonds are one of the lower risk investments you could make. You are guaranteed to get back the entire amount you invested, known as principal. You will also receive interest if you keep the bonds until maturity.
• Tax advantages. Savings bond holders don’t pay state or local taxes on interest at any time. You don’t have to pay federal income tax on the interest until you cash in the bond.
• Education exception. Eligible taxpayers may qualify for a tax break when they use U.S. Savings Bonds to pay for qualified education expenses.
• No fees. Unlike just about every other type of security, you won’t pay a fee, markup or commission when you buy savings bonds. They’re sold at face value, directly from the Treasury, so what you pay for is what you get. If you buy a $50 bond, for example, you’ll pay $50.
• Great gift. Unlike most securities, people under age 18 may hold U.S. Savings bonds in their own names. That’s what makes them a popular birthday and graduation gift.
• Patriotic gesture. Buying a U.S. Savings Bond helps support the U.S. government. That’s something that was important and appealed to investors when these savings bonds were first introduced in 1935.
The Cons of Investing in Savings Bonds
Next, consider these potential downsides of investing in savings bonds:
• Low return. The biggest disadvantage of savings bonds is their low rate of return, as noted above. A low risk investment like this often pays low returns. You may find you can invest your money elsewhere for a higher return with only slightly higher risk.
• Purchase limit. For U.S. Savings Bonds, there’s a purchase limit per year of $10,000 in bonds for each series (meaning you can invest a total of $20,000 per year), plus a $5,000 limit for paper I bonds via tax refunds. For some individuals, this might not align with their investing goals.
• Tax liability. It’s likely you’ll have to pay federal income tax when you cash in your savings bond, unless you’ve used the proceeds for higher education payments.
• Penalty for early withdrawal. If you cash in your savings bond before five years have elapsed, you will have to pay the previous three months of interest as a fee. You are typically not allowed to cash in a bond before the one-year mark.
Here, a summary of the pros and cons of investing in savings bonds:
Pros of Savings Bonds
Cons of Savings Bonds
• Low risk
• Education exception
• Possible tax advantages
• No fees
• Great gift
• Patriotic gesture
• Low returns
• Purchase limit
• Possible tax liability
• Penalty for early withdrawal
When Do Savings Bonds Mature?
You may wonder how long it takes for a savings bond to mature. The EE and I savings bonds earn interest for 30 years, until they reach their maturity date.
You’ll also need to know how and when to redeem a savings bond. These bonds earn interest for 30 years, but you can cash them in penalty-free after five years.
• If you have a paper bond, you can cash it in at your bank or credit union. Bring the bond and your ID. Or go to the Treasury’s TreasuryDirect site for details on how to cash it in.
• For electronic bonds, log into your TreasuryDirect account, click on “confirm redemption,” and follow the instructions to deposit the amount to a linked checking or savings account. You will likely get the money within a few business days.
• If you inherited or found an old U.S. Savings Bond, you may be able to redeem savings bonds through the TreasuryDirect portal or via Treasury Retail Securities Services.
Early Redemption of Bonds
If you cash in a U.S. Savings Bond after one year but before five years, you’ll pay a penalty that is the equivalent of the previous three months of interest. Keep in mind that for EE bonds, if you cash in before holding for 20 years, you lose the opportunity to receive the doubled value of the bond that accrues after 20 years.
The History of US Savings Bonds
America’s savings bond program began under President Franklin Delano Roosevelt in 1935, during the Great Depression, with what were known as “baby bonds.” This started the tradition of citizens participating in government financing.
The Series E Saving Bond contributed billions of dollars to financing the World War II effort, and in the post-war years, they became a popular savings vehicle. The fact that they are guaranteed by the U.S. government generally makes them a safe place to stash cash and earn interest.
The Takeaway
U.S. Savings Bonds can be one of the safest ways to invest for the future and show your patriotism. While the interest rates are typically low, for some investors, knowing that the money is being securely held for a couple of decades can really enhance their peace of mind.
Another way to help increase your peace of mind and financial well-being is finding the right banking partner for your deposit product needs.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.
Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 3.80% APY on SoFi Checking and Savings.
FAQ
What is a $50 savings bond worth?
The value of a $50 savings bond will depend on how long it has been held. You can log onto the TreasuryDirect site and use the calculator there to find out the value. As an example, a $50 Series I bond issued in 2000 would be worth more than $211 today.
How long does it take for a $50 savings bond to mature?
The full maturation date of U.S. savings bonds is 30 years.
What is a savings bond?
A savings bond is a secure way of investing in the U.S. government and earning interest. Basically, when you buy a U.S. Savings Bond, you are loaning the government money, which, upon maturity, they pay back with interest.
Photo credit: iStock/AlexSecret
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Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
3.80% APY SoFi members with direct deposit activity can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. SoFi members with direct deposit are eligible for other SoFi Plus benefits.
As an alternative to direct deposit, SoFi members with Qualifying Deposits can earn 3.80% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant. SoFi members with Qualifying Deposits are not eligible for other SoFi Plus benefits.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 3.80% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Separately, SoFi members who enroll in SoFi Plus by paying the SoFi Plus Subscription Fee every 30 days can also earn 3.80% APY on savings balances (including Vaults) and 0.50% APY on checking balances. For additional details, see the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.
Putting an offer on a home involves more than naming a price. Assuming that you’ve been preapproved for a mortgage and that you’ve found a home in your price range, there’s a customary method to follow in submitting an offer that stands out but also protects you.
In a hot market — where you might encounter a bidding war, compete against cash buyers, or be asked to waive a contingency — it can be vital to know the process. But even in a less heated market, it’s important to know what making an offer on a house involves, the steps for making an offer in real estate, and what to do if you change your mind when making offers in real estate (it happens!). Read on for tips that will get you from homebuyer to homeowner.
Making an Offer on a House
So let’s say you’ve found that mid-century marvel or stately townhome of your dreams. You’re ready to go for it. Here’s how the process of making an offer in real estate typically goes.
1. Determine Your Offer Price
A home’s listing price is often set by comparing it to similar homes in the area that are for sale, then adjusting up or down based on additional amenities or detrimental issues. But as the old saying goes, “A home is generally worth what someone is willing to pay for it.”
You might find a property that’s fairly well-priced and consider coming in close to asking, or you may want to adjust your offer if you feel that it’s priced too high or needs a lot of work.
• A common way to break down a listing amount is by price per square foot, but that often includes only the heated, livable spaces. A home can (and should) be priced higher than average for the area if it includes extra rooms like a garage or attic, outbuildings, or extra land, which add to its value. Superior workmanship or permitting in place for potential changes can also play a role in increasing a price.
• Check the home’s history on the multiple listing service. It records every transaction related to the house, including previous buy and sell dates, price fluctuations, and how long the home has been on the market. It can give you a good idea of where the sellers are coming from in terms of what they paid for the property.
• Take a look at other properties in the area that have recently sold. Is the price per square foot more or less than the home you have your eye on? One key to an accurate read on the local market is to ensure that you’re comparing apples to apples when it comes to the number of bedrooms, bathrooms, square footage, garage space, and other amenities. Your broker can likely provide what are known as “comparables” for the area to help with this process.
It can also be important to look at factors not directly related to the price of the property that could affect your overall cash flow. One big consideration is closing costs, which typically average 2% to 6% of the total cost of the home. So let’s say you are considering a $400,000 mortgage loan; the closing costs (origination fees, title search, any points, and more) would be between $8,000 and $24,000.
It’s also important to estimate the amount of money you’ll spend making repairs or changes to the property once you move in. As long as the repairs are not related to health or safety issues, which could affect financing, one tactic could be to lower your offer price in order to free up cash for future upgrades.
Or you might plan on getting a home improvement loan after buying the house, provided you have enough equity to access those funds.
3. Determine Your Earnest Money Deposit
The next step in making an offer in real estate is to figure out your earnest money. What’s earnest money? It’s a good-faith deposit that buyers place with the offer up front, usually amounting to around 1% to 3% of the offer price, to show that they are serious, especially when there are multiple offers on a property.
It’s held in escrow by the title company. Showing purchase intent in this way can help a buyer get to the top of the seller’s list.
Customs and laws pertaining to an earnest money deposit can vary from state to state, and even from county to county, so it’s important to understand the rules that determine when the money is (and isn’t) refundable.
First-time homebuyers can
prequalify for a SoFi mortgage loan,
with as little as 3% down.
Questions? Call (888)-541-0398.
4. Protect Yourself With Contingencies
The time between a signed offer and closing day is called the due diligence period, and it’s when the buyer will normally set up a home inspection and possibly a land survey or other inspections for specialty items, such as a septic system or a pool, and the lender will order an appraisal.
Because the contract is signed before inspections and the appraisal take place, contingencies give you an out if you discover a deal-breaker.
Here are the most common contingencies when making offers in real estate:
• Financing This lays out the specifics of the financing that will be used by the buyer, which must be fully approved by the lender within the contingency period. This protects the buyer in case financing falls through.
• Appraisal If the appraisal comes back lower than the agreed-upon price, the seller and buyer may find themselves renegotiating.
• Inspection The buyer usually has 10 days after signing the contract to order an inspection, and the contingency remains in place until it comes back without uncovering any major issues with the property that were previously unknown. Based on the findings, the buyer can cancel the contract or negotiate repairs or the purchase price. (If the seller agrees to pay, these are called seller concessions.)
• Title search A preliminary title report shows the home’s past and present owners and any liens or judgments against the property. If any title disputes are unable to be resolved before closing, you have the option to exit the sale.
In some situations, the list of contingencies can be long. But once they’re all satisfied and lifted during the given timeframes, the option to buy turns into a binding commitment to purchase the home.
5. Submit a Written Offer
In real estate, the best way to make an offer official is to put it in writing. If you’re working with a real estate agent, the agent will have a form that you can fill out together that lists the offer price and contingencies and covers all the state rules and regulations.
If you’re flying solo, working with a real estate lawyer or title company can help to ensure that your offer covers all the necessary legal language and is legally valid.
This concept goes both ways. As the buyer, it’s a smart idea to make sure all correspondence, counteroffers, and property disclosures are put in writing by the seller as well.
Once you submit your written offer, one of three things is likely to happen: The sellers sign the document and enter into a binding contract, they reject the offer outright, or they submit a counteroffer.
In this last case, the sellers might counter back with changes that are better suited to them. (If your offer includes a price reduction to accommodate repair costs, for example, the seller might ask for the full asking price and offer a credit back at closing instead.)
A counteroffer puts the ball back in the buyer’s court for approval, rejection, or another counteroffer, and it can keep going back and forth until both parties agree to the terms and sign the document or one party calls it a day.
What If You Change Your Mind About Buying a House?
Contingencies give you a way out in the event of some unforeseen issue, but what if you just decide you don’t want the house? Cold feet can be a real thing!
Although the laws vary by state on this topic as well, in most instances a buyer is allowed to withdraw an offer until the moment the offer is accepted. However, once the offer document is signed by both parties, it’s considered a binding agreement.
At that point, the sellers may be well within their rights to walk away with your earnest money if you don’t decide to move forward.
The Takeaway
How to make an offer on a house? It pays to understand comps, contingencies, the temperature of the market, earnest money, and counteroffers. You’ll consider your price, keeping track of all fees that will be involved, and make your bid in writing, typically with what’s known as an earnest money deposit. Then sit back and await the seller’s response.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
SoFi Mortgages: simple, smart, and so affordable.
FAQ
Should I use a real estate agent to buy a house?
An agent familiar with the local market can help you determine the right offer amount and hold your hand during the negotiation process, which is especially helpful in a hot (seller’s) market. An agent can also help coordinate everything leading up to the closing and ensure that you (and your financing) meet critical deadlines.
Is a deposit required when making an offer on a house?
Yes, your offer will come with what is called earnest money, a good-faith deposit of 1% to 3% of the proposed purchase price, which will be held in escrow during negotiations about the house.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
When buying a house, many of us get caught up in the down payment and other large upfront costs. It’s important to factor in the long-term costs associated with a $250,000 mortgage, which includes the monthly mortgage payment.
Just how much will that payment be each month? Read to learn the monthly cost of a $250K mortgage.
Total Cost of a $250K Mortgage
Homebuyers have some large expenses to deal with before making mortgage payments. Both upfront costs and long-term expenses should factor into figuring out how much house you can afford.
First-time homebuyers can
prequalify for a SoFi mortgage loan,
with as little as 3% down.
Questions? Call (888)-541-0398.
Upfront Costs
Upfront costs associated with buying a home are more than just the earnest money and down payment. A buyer can expect to pay closing costs, including some or all of the following:
• Abstract and recording fees associated with the documentation of a property, which can cost from between $200 to $1,200 and $125, respectively.
• Application fees for a mortgage from the lender, which can cost up to $500.
• Appraisal fees to estimate the home’s value for the lender, which could cost between $300 to $400.
• Home inspection fees if the buyer opts for an inspection of the property before buying, can run between $300 to $500 on average.
• Title search and title insurance fees are required to ensure there are no liens or unexpected claims to the property being purchased. This usually costs between $75 to $200.
These fees before and during closing don’t include the down payment. The median down payment on a house is 13%, but to avoid things like private mortgage insurance, a buyer may have to put down as much as 20% of the home’s purchase price.
A buyer who takes out a $250K mortgage and makes a 20% down payment is likely putting in around $62,500. In addition to the down payment and closing costs, keep in mind expenses around moving and furnishing a new home.
💡 Quick Tip: You deserve a more zen mortgage. SoFi Mortgage Loan Officers are dedicated to closing your loan on time — backed by a $5,000 guarantee offer.‡
Long-Term Costs
You’ll pay down the principal plus interest on your loan over the long term, with a higher proportion of interest in your monthly payments early in the life of the loan. Near the end of your loan term, you’ll be paying almost entirely principal.
If you put down less than 20% on your home, you may also be paying private mortgage insurance (PMI) each month. Here are some other long-term costs:
• Maintenance Homeowners should factor in the cost of maintenance and repairs in their long-term housing budget. Many owners default to the 1% rule, setting aside 1% of a home’s purchase price annually for ongoing repair costs.
• Property taxes These vary based on your location but can be thousands of dollars a year.
• Homeowners association (HOA), co-op, or condo fees These also vary, but you will know what they are before you close on the property.
• Insurance Depending on where your home is located, you may need hazard insurance to cover you in the event of a natural disaster, in addition to standard homeowners insurance.
Breaking things down further, the terms can also influence the monthly payments on a $250K mortgage. Buyers can choose between a:
• Fixed-rate mortgage, where they pay the same APR over the life of the loan.
• Adjustable-rate mortgage (ARM), where buyers typically pay a lower rate at the beginning of the loan, but the APR will change over the life of the loan.
What interest rate a buyer will get when applying for a mortgage depends on the market and their financial history. The length of the loan can also impact the estimated monthly mortgage payment. A 30-year loan will have lower monthly payments but you will pay significantly more interest over the life of the loan:
Interest rate
15-year term
30-year term
3.00%
$1,726
$1,054
3.5%
$1,787
$1,122
4%
$1,849
$1,193
4.5%
$1,912
$1,266
5%
$1,976
$1,342
5.5%
$2,043
$1,419
6%
$2,110
$1,499
6.5%
$2,178
$1,580
7%
$2,247
$1,663
As a reminder, these estimates do not include additional costs that might be included in monthly payments, like insurance and property taxes. Consider using a mortgage calculator to figure out monthly payments based on personalized annual percentage rate (APR) and terms.
How Much Interest Is Accrued on a $250K Mortgage?
How much interest a homeowner will accrue on a $250K mortgage depends on the APR and terms of the loan. As a general rule of thumb:
• The higher the APR, the more interest paid
• The longer the loan, the more interest paid
In the beginning, monthly mortgage payments will primarily cover the interest on the mortgage, paying only a small portion of the principal. However, over the life of the loan, the homeowner begins to pay more toward the principal and less in interest.
For example, on a $250K mortgage with a 30-year loan term and 4% APR, a buyer can expect to pay $179,673.77 in interest over the life of the loan. For a $250K mortgage with a 15-year loan term and 4% APR, a buyer will pay $82,859.57 in interest.
While the owner will pay less in interest with a shorter loan term, they can expect higher monthly payments than a 30-year loan term.
💡 Quick Tip: To see a house in person, particularly in a tight or expensive market, you may need to show the real estate agent proof that you’re preapproved for a mortgage. SoFi’s online application makes the process simple.
$250K Mortgage Amortization Breakdown
Suppose a buyer secures a $250K mortgage on a home with a 7% rate and a 15-year term. Their monthly payment on the mortgage, including principal and interest, would be roughly $2,247.
Here’s how those payments would split between interest and principal balance over the life of the loan, otherwise known as an amortization breakdown:
Year
Beginning balance
Annual interest paid
Annual principal paid
Ending balance
1
$250,000
$17,190
$9,774
$240,226
2
$240,226
$16,484
$10,481
$229,744
3
$229,744
$15,726
$11,239
$218,506
4
$218,506
$14,914
$12,051
$206,454
5
$206,454
$14,042
$12,922
$193,532
6
$193,532
$13,108
$13,857
$179,675
7
$179,675
$12,107
$14,858
$164,817
8
$164,817
$11,032
$15,932
$148,885
9
$148,885
$9,881
$17,084
$131,801
10
$131,801
$8,646
$18,319
$113,482
11
$113,482
$7,321
$19,643
$93,838
12
$93,838
$5,901
$21,063
$72,775
13
$72,775
$4,379
$22,586
$50,189
14
$50,189
$2,746
$24,219
$25,970
15
$25,970
$995
$25,970
$0
Keep in mind that this table doesn’t include additional costs that may be rolled into mortgage payments, such as insurance or property taxes.
Amortization tables can be helpful tools for understanding payments across the life of a mortgage.
• You’ll need a credit score of at least 500 for some mortgages, but most lenders require a score of 620 or more
• You’ll prequalify for a mortgage. You’ll provide a little information about yourself and the lender will perform a soft credit inquiry. This will give you a sense of what the lender might offer in terms of interest rate.
• You’ll find the right lender. The right lender for a borrower will vary based on the rates they offer, in addition to other fees and features.
• You’ll fill out a mortgage application and get preapproved for your mortgage. The application may require tax documents, W-2s, and bank account statements. If you’re preapproved, you’ll receive a letter from the lender providing conditional approval for the mortgage within a certain window, typically 60 to 90 days. SoFi’s Help Center can help you start your journey to homeownership today.
The Takeaway
Considering monthly payments on a $250,000 mortgage is an important step in understanding the budget behind buying a home. Multiple factors can impact the monthly cost, including interest rate and loan terms, making it essential to consider all options and make the choice that best suits your budget.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
SoFi Mortgages: simple, smart, and so affordable.
FAQ
What’s the monthly payment on a $250K mortgage?
The size of your payment will depend primarily on the length of the loan’s term and its interest rate. A 15-year term at 7% would give you a monthly payment of about $2,247, while a 30-year term at 7% would yield a payment of $1,663. Note that although the 30-year term has a lower monthly payment, you’ll pay significantly more in interest over the lifetime of the loan.
How long will it take to pay off a $250K mortgage?
How long it takes to pay off a $250,000 mortgage will depend on the term of your loan and whether you refinance along the way. You might have a loan term of 30, 20, 15, or even 10 years. And remember, you can always pay off your loan sooner if you like, although in rare cases there can be a prepayment penalty.
How much do I need to earn to get a $250K mortgage?
You’d need to earn about $90,000 per year in order to afford a $250,000 mortgage, so that your monthly debt payments don’t cause undue financial stress.
Photo credit: iStock/Worawee Meepian
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
‡SoFi On-Time Close Guarantee: If all conditions of the Guarantee are met, and your loan does not close on or before the closing date on your purchase contract accepted by SoFi, and the delay is due to SoFi, SoFi will give you a credit toward closing costs or additional expenses caused by the delay in closing of up to $10,000.^ The following terms and conditions apply. This Guarantee is available only for loan applications submitted after 04/01/2024. Please discuss terms of this Guarantee with your loan officer. The mortgage must be a purchase transaction that is approved and funded by SoFi. This Guarantee does not apply to loans to purchase bank-owned properties or short-sale transactions. To qualify for the Guarantee, you must: (1) Sign up for access to SoFi’s online portal and upload all requested documents, (2) Submit documents requested by SoFi within 5 business days of the initial request and all additional doc requests within 2 business days (3) Submit an executed purchase contract on an eligible property with the closing date at least 25 calendar days from the receipt of executed Intent to Proceed and receipt of credit card deposit for an appraisal (30 days for VA loans; 40 days for Jumbo loans), (4) Lock your loan rate and satisfy all loan requirements and conditions at least 5 business days prior to your closing date as confirmed with your loan officer, and (5) Pay for and schedule an appraisal within 48 hours of the appraiser first contacting you by phone or email. This Guarantee will not be paid if any delays to closing are attributable to: a) the borrower(s), a third party, the seller or any other factors outside of SoFi control; b) if the information provided by the borrower(s) on the loan application could not be verified or was inaccurate or insufficient; c) attempting to fulfill federal/state regulatory requirements and/or agency guidelines; d) or the closing date is missed due to acts of God outside the control of SoFi. SoFi may change or terminate this offer at any time without notice to you. *To redeem the Guarantee if conditions met, see documentation provided by loan officer. SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
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