SoFi Launches Digital HELOC Experience and New Real Estate Advisory Council

Digital finance giant SoFi is modernizing home equity access with a new end-to-end digital Home Equity Line of Credit (HELOC) experience. This new workflow aims to simplify a traditionally paperwork-heavy process by offering verified preapprovals and flexible borrowing amounts. By digitizing the application from start to finish, the company is positioning itself to capture homeowners looking to tap into their rising property values without the friction of traditional bank procedures.

The move comes at a critical time as high mortgage rates discourage homeowners from selling, leading many to renovate or consolidate debt using existing equity instead. To support this growth, SoFi has also established a Real Estate Advisory Council composed of industry veterans. This group is tasked with refining the company’s mortgage strategies and ensuring its products remain competitive in a volatile housing market.

Industry analysts will be watching to see if this digital-first approach helps SoFi gain significant market share against legacy lenders. While digital applications are becoming the norm, a completely seamless "end-to-end" experience remains a challenge in the complex world of real estate lending. Success here could set a new standard for how consumers interact with their home wealth.

This story was originally reported by HousingWire.