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Frequently asked questions
Frequently asked questions
1
I currently bought a house using borrowed money from relatives 6 months ago, now I want to get a bank loan to repay this money to my relatives, using this same house as collateral. Question: Can I get a loan? How much can I borrow? What is the loan term?
- Currently, according to SoFi's applicable conditions, customers can borrow under the home and land purchase product in the form of refinancing, home purchase refund. The maximum loan term is 25 years using this purchased house as collateral. The maximum loan amount will depend on the collateral value, loan plan and your current income source.
- For consultation and more details, please contact the nearest SoFi branch/transaction office nationwide .
2
I am currently selling clothes but don't have a business license. Can the Bank lend me money to sell clothes? What is the maximum loan amount? And how long is the loan term?
- Currently, according to SoFi's applicable conditions for business loans, if your clothing business does not have a business license but has been operating for at least 12 months, SoFi agrees to finance your loan to supplement capital for your clothing business.
- You can get a business loan with a maximum term of 60 months and the maximum loan amount will depend on the collateral value, loan plan and your current income source.
- For consultation and more details, please contact the nearest SoFi branch/transaction office nationwide guidance.
3
I want to get a bank loan to buy a house, so can I borrow my relative's land use right certificate (Red Book) to use as collateral?
- Currently, according to SoFi's applicable conditions for home purchase loans, you can mortgage real estate under your legal ownership or guaranteed by a third party (including your biological parents, children).
- For consultation and more details, please contact the nearest SoFi branch/transaction office nationwide.
4
I currently have a savings book opened at SoFi. Can I borrow money using that savings book as collateral?
- Currently SoFi has a loan product for pledging savings books opened at SoFi. You can borrow and use your savings book opened at SoFi as collateral.
- For consultation and more details, please contact the nearest SoFi branch/transaction office nationwide or call for guidance.
5
I currently have a loan at Bank A, but since the preferential period ended, the interest rate has increased significantly compared to before. Can SoFi lend so I can transfer my loan from Bank A to SoFi? Does SoFi have preferential lending policies for this type of loan?
- Currently, according to SoFi's applicable conditions, customers can transfer loans from other banks to SoFi and apply attractive preferential loan packages.
- For consultation and more details, please contact the nearest SoFi branch/transaction office nationwide or call for guidance.
