Income for a SoFi Loan Application

When you apply for a SoFi Personal Loan, Private Student Loan, or Student Loan Refinance, income is generally reviewed individually. Here’s a simple breakdown of how income works on the application and what to expect if you have questions about household income, additional income, or income verification.

Can I include my spouse’s income?

For an individual application, income is reviewed based on the primary applicant’s income.

If you want your spouse’s income to be considered, they would need to apply with you as a co-borrower.

Can I include household income?

At this time, income is reviewed individually for individual applications.

If you want another household member’s income considered, you may want to apply with a co-borrower. A co-borrower will need to provide similar employment, income, and education information during the application process.

Can I apply if I do not have my own income?

Applicants must be able to demonstrate an ability to repay the loan with income that can be verified.

If you do not have your own income, you may still have options if you apply with a co-borrower whose income can be verified.

Where do I include additional income on my application?

In the initial part of your application, you’ll see one income field.

We recommend adding together your personal annual wages from all eligible income sources and entering that total there.

If you want secondary income to be considered, SoFi generally requires a 2-year history of working multiple jobs before that additional income can be included.

What if SoFi asks for more information about the company I work for or the ownership of the company?

In some cases, SoFi may ask for additional details once employment or income verification has started.

This is part of the review process and helps us verify the information provided on your application.

What if my income changes while my application is being reviewed?

If your income changes while your application is still under review, upload your most recent pay stub showing the new income or a job offer letter reflecting the change.

If your loan has already funded, changes cannot be made to that funded loan.

Can foreign income be considered?

In some cases, foreign income may be considered.

To review it, the income amount must be converted to U.S. currency, and supporting documents must be submitted in English.

What should I keep in mind when entering income?

When completing your application, make sure the income you provide is your own and can be verified if requested.

If you have a more complex situation — like multiple jobs, foreign income, or wanting another person’s income considered — you may be asked for additional documentation before your application can be completed.

For information on what documents you will need, refer to What income and income documents should I include on my loan application? – SoFi

Have more questions? Chat with us or call 855-456-7634 to speak with an agent.