SoFi rolls out end-to-end digital HELOC experience, advisory council

SoFi Technologies this week unveiled a new fully digital home equity line of credit (HELOC) experience, expanding its push into mortgages as more homeowners choose to tap equity rather than move.

The company said the new HELOC offering will allow members to access home equity through an end-to-end digital process within the SoFi platform, with features including verified preapprovals, competitive interest rates and flexible borrowing options.

The rollout is part of SoFi’s broader effort to consolidate more of the homeownership journey into a single digital experience, including purchase mortgages, refinances and home equity products.

Eric Schuppenhauer, SoFi’s head of borrowing, said in an interview with HousingWire that the company has been offering HELOCs through a “brokered solution” but noticed borrowers wanted the flexibility of a HELOC option too.

“While a broker model is good, it doesn’t necessarily provide you with the same flexibility that you can do by controlling the experience yourself,” he said. “Our members in particular, they’re looking for liquidity options, and the best way to do a remodel, or pay for education or pay for a vacation, may actually be by tapping into their home equity.

Schuppenhauer said the lock-in effect of borrowers wanting to keep their 2% to 3% rates is driving the desire to access equity.

“Instead of doing a cash-out refi … we also just think that [the HELOC is] a good, thoughtful way to finance big-ticket purchases, remodels, etc. And so by virtue of that, we just felt like we needed to bring the solution forward.”

In tandem with announcing the HELOC offering, SoFi also announced the creation of a Real Estate Advisory Council made up of more than 50 industry leaders from across major U.S. housing markets.

Members include agents from firms such as Compass, Sotheby’s International Realty and The Real Brokerage. The council will provide market insights, advise on product development and help connect buyers to SoFi’s platform.

Schuppenhauer said the idea for the council was inspired by a company event held in New York City. “In talking to Realtors at that event, it became very clear to me and to others on the team that we needed to listen to the real estate community, because they know what their clients need best.

“We do mortgages nationwide,” he added. “We wanted to hear from the real estate community. How do we empower you to be able to serve your clients better and therefore our members better?”

In a company press release, SoFi said nearly three-quarters of homeowners plan to stay in their homes over the next two years, a trend it said is driving increased demand for home equity products. The company said it serves more than 135,000 homeowners and saw home loan originations nearly double year over year in 2025.

As for the rest of 2026, Schuppenhauer imagines mortgage rates trending lower and “remains bullish” on the purchase market.

“We will see an overall reduction in mortgage rates. It might be a little bit slow at first, but I think as soon as we get below 6%, you’re going to see an increase in the purchase market, and you’re also going to see an increase in both cash-out as well as term refi,” he said.

“I think we only really need about 50 basis points in mortgage rates. We’re probably going to see a very vibrant purchase market.”