SoFi Home Loans has completed a re-engineered origination process that provides the capability for borrowers to buy or refinance a home with an online application, no-hidden fees, or prepayment penalties. Also, SoFi Home Loans is comprised of SoFi’s long-established mortgage operations.

"For most people, buying a home is the most important financial decision and, at the same time, the most complicated and stressful one they will ever make," said Anthony Noto, chief executive officer at SoFi. "We've taken everything we've learned in making lending convenient and painless, and brought it to SoFi Home Loans."

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The SoFi Home Loans offering is built around a fast and easy application process. Applicants can prequalify in as little as two minutes online without any impact to their credit score. A dedicated support team helps borrowers from the time the home is selected to when the loan is closed.

SoFi Home Loans offer competitive rates including affordable down payments, with as little as 10 percent down on loans up to $3 million, with no-hidden fees or prepayment penalties. SoFi allows applicants to choose between four different loan terms and fixed or adjustable rates.

Those interested in refinancing can choose among traditional mortgage refinancing, cash-out refinancing, and student loan cash-out refinancing. If SoFi Home Loans isn't able to handle a loan request, SoFi provides an easy option to digitally transfer member information to its affiliate partner who may be able to help.

SoFi membership, which comes with usage of any SoFi product, offers benefits including exclusive events across the country, complementary financial planning, and career coaching through an exclusive partnership with Korn Ferry. Members also receive rate discounts on other types of loans.