Are there prepayment penalties? February 21, 2020 22:29 Updated Follow No, you can pay off your loan early without incurring a prepayment penalty. Related articles How do I freeze/unfreeze my SoFi Credit Card? What is a last will and testament, exactly? How do I turn the Overdraft Protection feature On/Off? I paid for an apprisal, but decided to move forward with a different lender. How do I get the Sofi appraisal transferred to the new lender? Do I have to pay for an appraisal?