SoFi Expands HELOC Push As Lenders Compete For Post-Close Borrower Relationships
Digital home equity rollout and national real estate network signal a broader push to capture post-close relationships as refinance volume remains constrained
SoFi is expanding further into home lending, rolling out a digital home equity line of credit (HELOC) alongside a national real estate agent network as it looks to stay connected to borrowers well beyond the initial mortgage.
The move comes as elevated interest rates continue to suppress traditional refinance volume, pushing lenders and fintechs alike to focus on home equity and post-close engagement.
At the center of the expansion is a fully digital HELOC experience embedded within SoFi’s platform, designed to allow borrowers to access their home equity through an end-to-end online process. The company said the offering is intended to simplify what has historically been a slower, more manual segment of the market.
But the broader play extends beyond the product.
SoFi is also launching a national agent network and forming a Real Estate Advisory Council made up of agents from major brokerages. The initiative is aimed at connecting members with local real estate professionals while keeping them within SoFi’s ecosystem throughout the homebuying and homeownership journey.
The strategy reflects a wider shift in the market. With many homeowners holding on to low-rate first mortgages, second-lien products like HELOCs have become a primary way to access equity without triggering a refinance. At the same time, lenders are increasingly focused on maintaining relationships with borrowers after closing rather than treating originations as a one-time transaction.
SoFi’s expansion positions it as more than a point-of-sale lender, combining lending, advisory, and agent access into a single platform designed to capture repeat engagement over time.
What It Means For LOs
The move highlights growing competition around borrower retention. As HELOC demand rises, platforms that integrate financing with real estate guidance and digital servicing are aiming to keep borrowers engaged long after the first loan closes.
For loan officers, that raises the stakes around post-close strategy, particularly as fintech entrants continue to build models designed to own more of the customer lifecycle.