We analyzed every closed loan from SoFi Bank — 4.0k loans across 9k applications— and benchmarked them against peer lenders across the 5 Ps of Mortgage Shopping.
Ratings· each scored 1–5 against peer lenders
Pricing
Strong
4/5
vs. all lenders
Pull-through
Acceptable
2/5
closing strength
Product
Strong
4/5
FHA · Conventional · VA · Jumbo
Place
Sound
3/5
National · 49 mkts
Awards
FHA
Superstar
VA
Superstar
Summary
What They Do Well
- Competitive pricing compared to the market
- Lower than average lender fees
- Particularly strong in Conventional and FHA and VA and Jumbo loans
- Nationwide availability with consistent service
Things to Think About
- Pull through efficiency is below industry average
Explore another lender or local market
Report Card
SoFi Bank performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Strong
+18.1 bps above market avg
Pull Through
Closing strength
Acceptable
Bottom 40% of lenders
By Loan Product· Specialization by type
Conventional
Strong
Top 40% of lenders
FHA
Strong
Top 40% of lenders
VA
Strong
Top 40% of lenders
Jumbo
Strong
Top 40% of lenders
By Loan Purpose· Transaction purpose mix
Purchase
Strong
Top 40% of lenders
Refinance
Strong
Top 40% of lenders
By Location· Geographic coverage
Geographic Reach
National · 50 markets
Sound
Top 60% of lenders
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 3,141 | 78.6% | +0.225%Above | $888Fees | ||||
FHA Loans | 525 | 13.1% | +0.293%Above | $831Fees | ||||
VA Loans | 279 | 7.0% | -0.560%Below | $276Fees | ||||
Jumbo Loans | 52 | 1.3% | +0.221%Above | $1,427Fees |
Conventional
OverallSound
ProductStrong
PricingStrong
Pull ThroughAcceptable
Volume3,141
Mix78.6%
Spread
+0.225%Above
Fees
$888Fees
FHA Loans
OverallStrong
ProductStrong
PricingExceptional
Pull ThroughSound
Volume525
Mix13.1%
Spread
+0.293%Above
Fees
$831Fees
VA Loans
OverallStrong
ProductStrong
PricingExceptional
Pull ThroughSound
Volume279
Mix7.0%
Spread
-0.560%Below
Fees
$276Fees
Jumbo Loans
OverallSound
ProductStrong
PricingStrong
Pull ThroughAcceptable
Volume52
Mix1.3%
Spread
+0.221%Above
Fees
$1,427Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 2,856 | 71.5% | +0.172%Above | $723Fees | ||||
Refinance | 1,141 | 28.5% | +0.202%Above | $1,146Fees |
Purchase
OverallSound
ProductStrong
PricingStrong
Pull ThroughAcceptable
Volume2,856
Mix71.5%
Spread
+0.172%Above
Fees
$723Fees
Refinance
OverallSound
ProductStrong
PricingStrong
Pull ThroughAcceptable
Volume1,141
Mix28.5%
Spread
+0.202%Above
Fees
$1,146Fees
At a Glance
Lender Overview
Lending Activity
Loans Originated
3,997
Applications
8,807
Volume
$1 billion
Pricing & Closing
Avg Rate Spread
+0.181%
vs. market APOR
Avg Net Fees
$845
Origination − Credits
Pullthrough Rate
45.4%
Applications → Closed
Typical Borrower
Avg Loan Amount
$394,732
Avg Borrower Income
$172,982
Avg Property Value
$523,586
Geographic Coverage
Geographic Performance
Metro Areas
49
markets with activity
States Served
50
of 50 states + DC
Avg Place Specialization
Sound
3/5
States with Loan Originations
50Northeast9
CTMEMANHNJNYPARIVT
Midwest12
IAILINKSMIMNMONDNEOHSDWI
South17
ALARDCDEFLGAKYLAMDMSNCOKSCTNTXVAWV
West12
AKAZCACOIDMTNMNVORUTWAWY
Top Metro Areas by Place Specialization Score
Volume 199Mix 4.98% of portfolio
73/100
Strong
Volume 46Mix 1.15% of portfolio
58/100
Sound
Volume 76Mix 1.90% of portfolio
57/100
Sound
Volume 69Mix 1.73% of portfolio
56/100
Sound
Volume 53Mix 1.33% of portfolio
56/100
Sound
Volume 64Mix 1.60% of portfolio
56/100
Sound
Volume 44Mix 1.10% of portfolio
56/100
Sound
Volume 62Mix 1.55% of portfolio
56/100
Sound
Volume 52Mix 1.30% of portfolio
56/100
Sound
Volume 49Mix 1.23% of portfolio
55/100
SoundShowing 10 of 49 metro areas
Top States by Place Specialization Score
1
North CarolinaState
Volume 334Mix 8.36% of portfolio
69/100
Strong2
PennsylvaniaState
Volume 212Mix 5.30% of portfolio
67/100
Strong3
TexasState
Volume 313Mix 7.83% of portfolio
66/100
Strong4
South CarolinaState
Volume 135Mix 3.38% of portfolio
65/100
Strong5
FloridaState
Volume 311Mix 7.78% of portfolio
65/100
Strong6
VirginiaState
Volume 138Mix 3.45% of portfolio
64/100
Strong7
WashingtonState
Volume 123Mix 3.08% of portfolio
63/100
Strong8
New JerseyState
Volume 121Mix 3.03% of portfolio
63/100
Strong9
CaliforniaState
Volume 260Mix 6.50% of portfolio
63/100
Strong10
OhioState
Volume 156Mix 3.90% of portfolio
62/100
StrongShowing 10 of 44 states
How We Rank Lenders
Our rankings use an equal-weight average of scores across our core categories (Pricing, Product, Pull-Through, Place), with lender promptness blended in when a lender has responded to real shopper quote requests.
Our Point System (Max 30 Points)
10/ 30 pts
Pricing
Rate and fee competitiveness (33%)
10/ 30 pts
Pull Through
Reliability in closing loans (33%)
10/ 30 pts
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
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The 5 PsRankings are calculated from observed lender differences on closed loans across Pricing, Pull-through, Product, and Place, plus Promptness when a lender has answered real shopper quote requests.
No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.
HMDA 2024Built using publicly available originated loan data from the federal government.
Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.