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, details ⇒

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