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Credible vs. SoFi

The winner for its bigger loan selection and better customer reviews: Credible.

Credible is a loan marketplace that lets you compare multiple lenders, while SoFi is a digital lender offering only a few mortgage types. Credible gets our vote based on its range of lender options and positive customer reviews.

Our verdict: Credible wins over SoFi

Credible is a loan marketplace that lets you compare different loan options through its partners, Caliber, LoanDepot, Rocket Mortgage and Stearns. We like the service because you can get prequalified for a loan without a hard credit check, and its rates appear competitive.

While SoFi and Credible both have limited mortgage choices, Credible allows you to compare multiple quotes across four lenders instead of only one. This can be handy if you’re after a conventional or jumbo loan and want to see your available rates without dinging your credit.

But because both lenders offer limited loan choices, first-time homebuyers may not find what they need here. If you’re after a government-backed mortgage, such as an FHA, VA or USDA loan, you’ll need to look elsewhere.

H3: Overview: Credible vs. SoFi

‎ 
Name Credible
(NMLS #1681276)
SoFi
(NMLS #1121636)
At a quick glance
  • Consider Credible if you want to compare multiple quotes at one time.
  • Choose another lender if you want a government-backed home loan.
  • Consider this lender if you have student loan debt.
  • Choose another lender if you live in Hawaii, Missouri, New Mexico or New York.
Loan products offered Conventional, Jumbo, Refinance Conventional, Home equity, Refinance
State availability Not available in: NY Not available in: HI, MO, NM, NY
Min. credit score 620 620
BBB Rating A+ A+
Trustpilot Rating Excellent Average
Pros
  • No fees
  • Soft credit check
  • Positive reputation
  • Multiple fixed-rate terms
  • Membership perks
  • Fully-online application process
Cons
  • Not a direct lender
  • No in-person support
  • Not available in every state
  • Must put down at least 10%
  • Limited service
  • Mortgage can’t be used for investment
More info Read Review Read Review

Credible customer reviews

As of December 2021, Credible has a 4.7 out of 5 rating on Trustpilot from over 4,900 customers and 1.4 out of 5 rating with the Better Business Bureau (BBB) from 10 customers. Credible has been accredited with the BBB since 2015 and has an A+ business rating for closing 13 complaints in the last three years.

Credible’s reviews on Trustpilot are overwhelmingly positive, with 86% of reviewers saying they had an “excellent” experience and only 2% saying they had a “bad” experience. Note that these reviews are for all of Credible’s loan products, including student loans — not just mortgages.

SoFi customer reviews

SoFi gets average-to-good marks from customers, earning 2.9 out of 5 stars on Trustpilot and 4.7 out of 5 stars on Zillow as of December 2021. On Trustpilot, 78% of customers said they had an “excellent” experience and 10% said they had a “bad” experience. SoFi isn’t accredited with the BBB but earns an A+ business rating for closing 277 complaints in the past three years.

Customers who like SoFi mention the ease of applying online, fast funding of loans and great customer service. But unhappy customers report difficulty being approved and feeling confused by the application process.

Compare other options

Credible and SoFi can help if you’re after a conventional or jumbo loan. However, if you need a bigger loan selection, we recommend a highly rated lender like Fairway Independent or Guaranteed Rate. Or visit loan marketplace LendingTree, where you can compare a much wider range of options.

On the other hand, if you’d prefer a 100% digital mortgage that doesn’t require you to work with a loan officer and charges no origination fees, Better or Beeline might be more up your alley.

Find your perfect mortgage by comparing these lenders and lender marketplaces. Select See rates to get a personalized quote.

Name Product Loan products offered State availability Min. credit score
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
AmeriSave
(NMLS #1168)
AmeriSave
Conventional, Jumbo, FHA, VA, USDA, Refinance
Not available in: NY
620
Great customer reviews and customized rate quotes in three minutes with no SSN needed.
Veterans United
(NMLS #1907)
Veterans United
Conventional, FHA, VA, USDA, Jumbo, Refinance
Available in all states
620
Veterans United stands out from other lenders for its focus on serving the military community.
Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
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