What are the DTI Requirements for SoFi Personal Loans?
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Mike Lawson
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Mike Lawson
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SoFi does not explicitly disclose a specific debt-to-income (DTI) ratio requirement for its personal loans. That said, most lenders or banks, including SoFi, generally prefer a DTI under 36% for approval. Borrowers with a DTI under 36% have a manageable level of debt relative to income. You can certainly get qualified with a higher DTI – I’ve seen it 1000 times.
Borrowers or Applicants with higher DTIs just need strong credit scores or other compensating factors, such as significant savings or high income or lots of assets.