To qualify for a SoFi (Social Finance) loan, you'll typically need to meet certain eligibility criteria. Here are some of the general requirements to qualify for a SoFi loan:
Credit Score. SoFi typically requires a minimum credit score of 680 to qualify for a loan, although the specific requirements may vary depending on the type of loan you're applying for.
Employment Status. SoFi typically requires borrowers to be employed or have a job offer with a start date within 90 days to qualify for a loan. Self-employed borrowers may also be eligible but will need to provide additional documentation.
Income. SoFi typically requires borrowers to have a minimum income of $45,000 per year to qualify for a loan. The specific income requirements may vary depending on the type of loan you're applying for.
Citizenship. SoFi loans are only available to U.S. citizens, permanent residents, and visa holders with valid U.S. Social Security numbers.
Other Criteria. SoFi may also consider other factors, such as your education level, employment history, and debt-to-income ratio, when evaluating your loan application.
It's important to note that meeting these criteria does not guarantee approval for a SoFi loan. SoFi uses a holistic approach to evaluate loan applications, taking into account a variety of factors beyond just your credit score and income. If you're interested in applying for a SoFi loan, you can check your eligibility and apply on the SoFi website.