SoFi expands digital HELOCs
- SoFi expanded home lending with a fully digital HELOC offering and an integrated agent network. (x.com) - The announcement frames nationwide support for mortgages, refinancing, and digital HELOCs at scale. (x.com) - The move adds another digital home-lending product line that platforms must integrate into pricing, eligibility, and servicing flows. (x.com)
SoFi said on April 22 it is rolling out a fully digital home equity line of credit, adding a new way for homeowners to borrow against equity inside the SoFi app and website. (investors.sofi.com) A home equity line of credit, or HELOC, works more like a credit card than a standard mortgage: borrowers can draw from an approved limit, repay, and borrow again during the draw period. SoFi’s product page says borrowers can access up to 90% of home equity, capped at $500,000, without changing the rate on their first mortgage. (sofi.com) The company paired the HELOC launch with a national Real Estate Advisory Council that includes agents from Compass, Sotheby’s, and Real Broker, and said it is also expanding its network of local loan officers. SoFi said the broader package is meant to support purchase mortgages, refinancing, and home-equity borrowing through one platform. (investors.sofi.com) SoFi is pushing further into a market shaped by rate lock-in. Freddie Mac said the average 30-year fixed mortgage rate was 6.30% on April 16, 2026, a level that leaves many owners reluctant to refinance older loans with much lower rates. (freddiemac.com) That has made second-lien products more attractive. ICE Mortgage Technology said in June 2025 that 48 million mortgage holders had $11.5 trillion in tappable equity entering the second quarter, and HELOC withdrawals had reached their highest first-quarter level since 2008. (ir.theice.com) SoFi said it serves more than 135,000 homeowners and that its home-loan originations nearly doubled year over year in 2025. In an April 2025 earnings release, the company had already pointed investors to a newer home-equity offering as part of its home-lending growth. (investors.sofi.com 1) (investors.sofi.com 2) The move also widens the set of home-lending products SoFi has to price, underwrite, and service inside one consumer flow. Its current menu includes mortgages, jumbo loans up to $3 million, Federal Housing Administration and Veterans Affairs loans, mortgage refinancing, home equity loans, and now a more prominent digital HELOC experience. (investors.sofi.com) SoFi’s filing history shows home lending is already part of a regulated business that includes servicing oversight, and the company is using the same pitch it has used across banking and personal loans: keep more of the transaction inside one digital account. The HELOC rollout extends that strategy to homeowners who want cash without replacing their original mortgage. (sec.gov) (sofi.com)
