To be eligible for a Personal Loan Refinance, your current personal loan(s) need to be in good standing, meaning:
- No forbearances or deferments.
- Original Personal Loan cannot be 30 days or more past due.
- Other SoFi loans (Home Loan, Student Loan Refinance, Private Student Loan) must also be in good standing.
In addition, the following criteria must be met:
- All existing eligibility rules for SoFi Personal Loan applicants are still required. (See Am I eligible for a SoFi Personal Loan?)
- You must have at least one SoFi Personal Loan.
- The existing SoFi Personal Loan cannot have a co-borrower on it.
- Three on-time, scheduled monthly payments must be made prior to applying for a refinance.
- You are only able to refinance a SoFi Personal Loan once in the lifetime of your entire account.