Social Finance, known as SoFi, is at the forefront of a new way to make home loans. The lender likes to use the adjective "radical" a lot to describe its processes. For anyone who is not a straight W2 earner, that is a really, really good thing.
The company claims it "evaluates applicants based on a holistic view of their financial well-being rather than a three-digit score." What that means to home buyers is that yourFICO score is irrelevant here. Instead, the mortgage lender looks first and foremost at your cash in hand. It wants to see you have at least $1,500 left over each month after you pay all your debts, including your mortgage. Your cash flow is more important to SoFi than your credit score.
The best part: no mortgage insurance, even if you put less than 20 percent down. And there are no application, origination or other lender fees.
SoFi requires less paperwork, which translates into less stress for you.
The lender looks at your finances for the last two years, so if you won MegaBucks last month, you won't qualify. But then, you can probably pay cash for the home you want.
Trust eXp Realty and our team of real estate agents to help you find homes for sale or to sell your current home. We recognize the level of service that the mobile consumer demands. You have information. You have dreams. We possess experience, integrity, and innovation. Together we create leverage to make your dreams a reality.
First, the facts:The median price of resale homes in Las Vegas hi
"I made my first home purchase with Jake's help and am very happy with the results. He is friendly, helpful, responsive, and trustworthy. He made the calls and set up appointments to look at homes that met my requirements. We discussed price, what I did and did not want to spend. He negotiated what seemed to be a fair price and we had an accepted offer very quickly. He checked in a number of times during the escrow period answering any questions I had. He went above and beyond, even helping to move a mattress and love-seat to my new home. I would definitely recommend Jake."