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SOFI BANK, NATIONAL ASSOCIATION
Bank|COTTONWOOD HEIGHTS, UT|National
Loans Originated
3,997
Applications
8,807
Volume
$1 billion
Offers loans directly to consumers
Overall Pricing
Strong
Overall Pull Through
Acceptable
Safe Rate Awards⭐FHA Superstar⭐VA Superstar
Pricing and Pullthrough Overview
Average Rate Spread
+0.181%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$845
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
45.4%
Percentage of applications that result in closed loans
Safe Rate's 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
Report Card
SOFI BANK, NATIONAL ASSOCIATION performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Strong | Highly Competitive | |
Pull Through Closing Strength | Acceptable | Near industry average | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Strong | Highly Competitive | |
FHA | Strong | Highly Competitive | |
VA | Strong | Highly Competitive | |
Jumbo | Strong | Highly Competitive | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Strong | Highly Competitive | |
Refinance | Strong | Highly Competitive | |
Places Geographic coverage | Sound | National · 50 metro areas · 50 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$394,732
Average Borrower Income
$172,982
Average Property Value
$523,586
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Sound | Strong | Strong | Acceptable | 3,141 | 78.6% | +0.225% | $888 |
FHA Loans | Strong | Strong | Exceptional | Sound | 525 | 13.1% | +0.293% | $831 |
VA Loans | Strong | Strong | Exceptional | Sound | 279 | 7.0% | -0.560% | $276 |
Jumbo Loans | Sound | Strong | Strong | Acceptable | 52 | 1.3% | +0.221% | $1,427 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Sound | Strong | Strong | Acceptable | 2,856 | 71.5% | +0.172% | $723 |
Refinance | Sound | Strong | Strong | Acceptable | 1,141 | 28.5% | +0.202% | $1,146 |
Geographic Coverage
Metro Areas
49
States Served
50
We count Washington DC as a state
Avg Place Specialization
Sound
States with Loan Originations
AKALARAZCACOCTDCDEFLGAIAIDILINKSKYLAMAMDMEMIMNMOMSMTNCNDNENHNJNMNVNYOHOKORPARISCSDTNTXUTVAVTWAWIWVWY
Top Metro Areas by Place Specialization Score
1
Charlotte, NC-SCMSA
Volume: 199Mix: 4.98%
Place Specialization
Strong
2
Montgomery County, PAMSA
Volume: 46Mix: 1.15%
Place Specialization
Sound
3
Houston, TXMSA
Volume: 76Mix: 1.90%
Place Specialization
Sound
4
Chicago, ILMSA
Volume: 69Mix: 1.73%
Place Specialization
Sound
5
Arlington, VA-WVMSA
Volume: 53Mix: 1.33%
Place Specialization
Sound
6
Dallas, TXMSA
Volume: 64Mix: 1.60%
Place Specialization
Sound
7
Raleigh, NCMSA
Volume: 44Mix: 1.10%
Place Specialization
Sound
8
Atlanta, GAMSA
Volume: 62Mix: 1.55%
Place Specialization
Sound
9
Orlando, FLMSA
Volume: 52Mix: 1.30%
Place Specialization
Sound
10
Portland, OR-WAMSA
Volume: 49Mix: 1.23%
Place Specialization
Sound
Showing 10 of 49 metro areas
Top States by Place Specialization Score
1
NCState
Volume: 334Mix: 8.36%
Place Specialization
Strong
2
PAState
Volume: 212Mix: 5.30%
Place Specialization
Strong
3
TXState
Volume: 313Mix: 7.83%
Place Specialization
Strong
4
SCState
Volume: 135Mix: 3.38%
Place Specialization
Strong
5
FLState
Volume: 311Mix: 7.78%
Place Specialization
Strong
6
VAState
Volume: 138Mix: 3.45%
Place Specialization
Strong
7
WAState
Volume: 123Mix: 3.08%
Place Specialization
Strong
8
NJState
Volume: 121Mix: 3.03%
Place Specialization
Strong
9
CAState
Volume: 260Mix: 6.50%
Place Specialization
Strong
10
OHState
Volume: 156Mix: 3.90%
Place Specialization
Strong
Showing 10 of 44 states
How We Rank Lenders
Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.
Our Point System (Max 30 Points)
10
Pricing
Rate and fee competitiveness (33%)
10
Pull Through
Reliability in closing loans (33%)
10
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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