The Mortgage Record
Lender report card · New Jersey

Sofi Bank, National Association

Frisco, TX · What the federal mortgage record shows about how Sofi Bank, National Association treated New Jersey applicants, 2018–2025 — 683 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
67.5%
461 approved
Denial rate
32.5%
222 denied
Decisions
683
2018–2025
Avg. rate spread
+0.13 pp
vs. market benchmark
67.5% approved
32.5% denied

Share of 683 New Jersey applications Sofi Bank, National Association approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional67.6% of 599 · NJ 87%FHA59.7% of 62 · NJ 79%

“NJ” = the statewide average approval rate for that loan type, for comparison.

Approval rate over time

22%37%52%67%82%26%64%73%83%2022202320242025

Pricing

Adjusting for its loan-type mix, Sofi Bank, National Association’s rates ran -0.14 pp lower than the typical New Jersey lender (average rate spread +0.13 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Sofi Bank, National Association approves

By income
Under $50k20.0% · 25$50–75k25.6% · 39$75–100k50.9% · 57$100–150k73.0% · 152$150–250k74.3% · 245$250k+75.2% · 161
By debt-to-income
Under 36%70.1% · 27836–43%83.3% · 15643–50%79.9% · 144Over 50%18.2% · 99
By down payment (LTV)
20%+ down65.9% · 48410–20% down72.0% · 825–10% down77.4% · 623–5% down63.4% · 41

Why Sofi Bank, National Association denied applications

Incomplete application38% of denialsDebt-to-income ratio30% of denialsCredit history15% of denialsCollateral (value/type)9% of denialsOther7% of denialsUnverifiable information5% of denials

Where Sofi Bank, National Association lends in NJ

CountyDecisionsApproval
Bergen County7147.9%
Monmouth County5869.0%
Hudson County5569.1%
Morris County5275.0%
Essex County4965.3%
Middlesex County4665.2%
Burlington County4360.5%
Ocean County3764.9%

Fees & closing costs

Median total loan costs
$7,213
home purchase
As % of loan
1.46%
NJ median 1.93%
Priced originations
283
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Sofi Bank, National Association’s home-purchase originations — 0.47 points lower than the 1.93% New Jersey median. Typical lender credit toward costs: $1,495. Excludes prepaid taxes/insurance and escrow deposits. Fees are reported on roughly two-thirds of originations (small lenders are exempt). Methodology →

Compare Sofi Bank, National Association to other lenders for your profile

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Source: CFPB HMDA loan-level data, 2018–2025 · first-lien, closed-end mortgages on 1–4 family homes in New Jersey reported by Sofi Bank, National Association (LEI 54930054ET8KM4O1D485). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →