SoFi Personal Loans (Co-Borrower)

SoFi Personal Loans allows co-borrowers on some personal loan applications. A co-borrower applies jointly with the primary borrower and is equally responsible for repaying the loan. Both applicants are assessed during underwriting, and the loan is reported on both credit files. This is different from a co-signer in that both parties share equal obligations as full borrowers from the start.

Adding a co-borrower with stronger credit, higher income, or lower existing debt may help improve the terms offered, potentially resulting in a lower interest rate or higher loan amount compared to what the primary applicant could qualify for alone. Both parties must fully understand their shared legal responsibility, including that missed payments will negatively affect both credit profiles and that either party can be pursued for the full balance if the loan is not repaid.

SoFi personal loans are unsecured and carry no origination fees, no prepayment penalties, and no late fees on the standard product. Loan amounts and terms vary by applicant profile. SoFi serves consumers with good to excellent credit and also offers unemployment protection features on qualifying loans.

SoFi is an online financial services company offering a range of products beyond personal loans, including student loan refinancing, mortgages, investing, and banking. For full details on SoFi personal loans including current rates, terms, and co-borrower eligibility requirements, review the main SoFi Personal Loans listing or visit SoFi's website directly. Compare offers from multiple lenders before committing. SoFi Bank, National Association is FDIC-insured.