Bank of America HELOC vs. SoFi Student Loan Refinance
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
SoFi Student Loan Refinance wins on more measurable categories — particularly on rate and cost. Bank of America HELOC may still be the right fit depending on your loan amount and term needs.
Feature
Bank of America
SoFi Student Loan
APR Range
8.60% – 14.40%
4.99% – 14.70% Best
Loan Amount
$25,000 – $1,000,000 Best
$5,000 – $500,000
Term Length
120–240 months
60–240 months
Origination Fee
No closing costs; no annual fee
None
Min Credit Score
680+
650+ Best
Funding Speed
2–4 weeks
2–3 weeks
Bank of America HELOC
SoFi Student Loan Refinance
Pros
- No fees
- No fees
- Unemployment protection
- Unemployment protection
- Competitive rates
- Competitive rates
Cons
- Must have degree
- Must have degree
- Good credit required
- Good credit required
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