Credible vs Sofi Rate Discrepancy

[Pharmist1720]

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Hello all, I’m looking to refinance my student loans and had a question about credible. My loans are currently at 4.1% so I’m trying to lower that rate. On credibles website I get offered a rate of 2.9% 5 year loan with my wife as the co-signer. When I accept that, I’m lead to sofi and they won’t allow me to use a co-signer because I qualify without one and they offer me a rate of 3.9%. Has anybody else had this problem? Is there a fix, or do the 2 sites not necessarily have to match with their rates? TIA

 

[Momus]

Tell sofi you can't sign with them if it's not lower than 2.75%. You need to invoke bidding wars, don't be a chump.

There are plenty of companies who want your money.

 

[confettiflyer]

Tell sofi you can't sign with them if it's not lower than 2.75%. You need to invoke bidding wars, don't be a chump.

There are plenty of companies who want your money.

Can you even talk to a human with most of these fin tech firms?

 

[Gombrich12]

Why are you giving up potential loan forgiveness and the protections of federal loans for 1.5%? That's ridiculous.

 

[radio frequency]

Can you even talk to a human with most of these fin tech firms?

Yes. Try their email or phone numbers. It’s possible.

 

[mentos]

Why are you giving up potential loan forgiveness and the protections of federal loans for 1.5%? That's ridiculous.

Maybe OP wants to be responsible and pay back what he/she borrowed instead of being bailed out?

 

[Pharmist1720]

Why are you giving up potential loan forgiveness and the protections of federal loans for 1.5%? That's ridiculous.

The federal rate was closer to 7%, I refinanced a couple of years ago to 4%, wasn’t expecting a pandemic to come along and give hope to loan forgiveness. Now I figured might as well refinance again to get it even lower.

 

[confettiflyer]

Maybe OP wants to be responsible and pay back what he/she borrowed instead of being bailed out?

lol, and i really love overpaying on my taxes 😆

Yes. Try their email or phone numbers. It’s possible.

Customer service yes, but can they really negotiate on rates? I feel like that's a waste of time from the firm's point of view. Like, why pay loan officers when your algorithms can do all the work. The incremental business from negotiated loans isn't worth the cost, IMO.

But I've never done it, so I'm just throwing out my theory.

 

[radio frequency]

lol, and i really love overpaying on my taxes 😆



Customer service yes, but can they really negotiate on rates? I feel like that's a waste of time from the firm's point of view. Like, why pay loan officers when your algorithms can do all the work. The incremental business from negotiated loans isn't worth the cost, IMO.

But I've never done it, so I'm just throwing out my theory.

At one point they would negotiate if you bothered them enough and they wanted your business enough. Things may be different now. YMMV. But it looks like they are eyeing an IPO, so they might still actually want your business bad enough to negotiate.

 

[Momus]

lol, and i really love overpaying on my taxes 😆



Customer service yes, but can they really negotiate on rates? I feel like that's a waste of time from the firm's point of view. Like, why pay loan officers when your algorithms can do all the work. The incremental business from negotiated loans isn't worth the cost, IMO.

But I've never done it, so I'm just throwing out my theory.

My friend just did cash out refinance at 1.75% 30 yr by yelling at their customer service lmao.

 

[radio frequency]

My friend just did cash out refinance at 1.75% 30 yr by yelling at their customer service lmao.

Dang, really?? With SoFi??

 

[Momus]

Dang, really?? With SoFi??

No, a house loan.

 

[mentos]

lol, and i really love overpaying on my taxes 😆

Ironic cause we taxpayers are the ones that bail them out. The more student loan bailouts, the more taxes we pay.

 

[radio frequency]

No, a house loan.

They do those too, which is why I wondered. Which bank? I think I need to go there.😅

 

[confettiflyer]

My friend just did cash out refinance at 1.75% 30 yr by yelling at their customer service lmao.

Hot damn, what was the LTV on that loan, and any points paid?

 

[ValeRx]

The federal rate was closer to 7%, I refinanced a couple of years ago to 4%, wasn’t expecting a pandemic to come along and give hope to loan forgiveness. Now I figured might as well refinance again to get it even lower.

That's the boat I'm in as well. I'm at 3.8% with Credible.