Bank of America HELOC vs. SoFi Personal Loan
Side-by-side comparison · Updated 2026 · Independently reviewed
Bank of America HELOC
Bank of America
4.1
No closing costs, no annual fee HELOC with Preferred Rewards discounts for existing BofA customers.
Full review →
WealthSpott Verdict
Bank of America HELOC wins on more measurable categories — particularly on rate and cost. SoFi Personal Loan may still be the right fit depending on your loan amount and term needs.
Feature
Bank of America
SoFi Personal Loan
APR Range
8.60% – 14.40% Best
8.99% – 25.81%
Loan Amount
$25,000 – $1,000,000 Best
$5,000 – $100,000
Term Length
120–240 months
24–84 months
Origination Fee
No closing costs; no annual fee
None
Min Credit Score
680+
680+
Funding Speed
2–4 weeks
Same day
Bank of America HELOC
SoFi Personal Loan
Pros
- No origination or prepayment fees
- No origination or prepayment fees
- Unemployment protection available
- Unemployment protection available
- Fast online application
- Fast online application
Cons
- Good credit typically required
- Good credit typically required
- Not available in all states
- Not available in all states
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