The Mortgage Record
Lender report card · New Jersey

Sofi Lending Corp

Cottonwood Heights, UT · What the federal mortgage record shows about how Sofi Lending Corp treated New Jersey applicants, 2018–2025 — 1,896 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
50.5%
957 approved
Denial rate
49.5%
939 denied
Decisions
1,896
2018–2025
Avg. rate spread
+0.13 pp
vs. market benchmark
50.5% approved
49.5% denied

Share of 1,896 New Jersey applications Sofi Lending Corp approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional50.5% of 1,896 · NJ 87%

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

Approval rate over time

33%40%47%54%61%57%45%45%59%37%20182019202020212022

Pricing

Adjusting for its loan-type mix, Sofi Lending Corp’s rates ran -0.09 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 Lending Corp approves

By income
Under $50k7.6% · 66$50–75k35.8% · 109$75–100k41.6% · 161$100–150k54.4% · 463$150–250k58.0% · 665$250k+48.0% · 431
By debt-to-income
Under 36%55.5% · 98336–43%64.4% · 36843–50%57.7% · 300Over 50%0.4% · 239
By down payment (LTV)
20%+ down51.2% · 1,50510–20% down47.5% · 2405–10% down41.5% · 41

Why Sofi Lending Corp denied applications

Unverifiable information27% of denialsIncomplete application27% of denialsDebt-to-income ratio20% of denialsCredit history13% of denialsOther8% of denialsCollateral (value/type)5% of denials

Where Sofi Lending Corp lends in NJ

CountyDecisionsApproval
Bergen County20145.3%
Middlesex County19246.4%
Morris County15651.3%
Essex County15444.8%
Monmouth County14447.9%
Union County11856.8%
Camden County11552.2%
Burlington County11457.9%

Fees & closing costs

Median total loan costs
$5,599
home purchase
As % of loan
1.44%
NJ median 1.93%
Priced originations
139
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Sofi Lending Corp’s home-purchase originations — 0.50 points lower than the 1.93% New Jersey median. Typical lender credit toward costs: $552. Excludes prepaid taxes/insurance and escrow deposits. Fees are reported on roughly two-thirds of originations (small lenders are exempt). Methodology →

Compare Sofi Lending Corp to other lenders for your profile

Enter your income, county, DTI and down payment to see who approves borrowers like you.

Open the approval tool →

Source: CFPB HMDA loan-level data, 2018–2025 · first-lien, closed-end mortgages on 1–4 family homes in New Jersey reported by Sofi Lending Corp (LEI 549300SXISSKGPHW5702). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →