SAN FRANCISCO, June 29, 2017 /PRNewswire/ -- SoFi announced today that, for the month of July, people who buy a home with a SoFi mortgage will receive a month's worth of avocado toast delivered to their door.
These two seemingly unconnected things became the focus of debate online and in the press in May, sparked by a comment from an Australian real estate developer that Millennials weren't buying houses because they were spending too much money on avocado toast.
"Pundits have unfairly besmirched avocado toast as the reason younger Americans aren't buying homes. We know that's wrong -- it's because the traditional mortgage product hasn't evolved," said Joanne Bradford, Chief Marketing Officer at SoFi. "In addition to offering a mortgage with 10% down and no borrower-paid private mortgage insurance required, we wanted to help people have their avocado toast and eat it too."
Once someone completes their home purchase with a SoFi mortgage in July, they'll receive an email with the option of choosing regular or gluten-free bread to go along with their avocados. The ingredients will be divided over three shipments to ensure freshness upon delivery. Recipients will still need to toast the bread.
SoFi, which has over 300,000 members across the United States and has underwritten over $20 billion in loans since its founding in 2011, offers a variety of options for fixed and variable rate mortgages, including flexible down payments ranging from 10-50% for loans up to $3 million. Members who have a personal loan or refinanced student loan with the company are also eligible for a rate discount on their mortgage of 0.125%. SoFi currently offers mortgage loans and refinancing in 28 states and the District of Columbia.
More information on the offer and on SoFi mortgages is available at SoFi.com/avocadotoast.
SoFi is a new kind of finance company taking a radical approach to lending, wealth management and insurance. From unprecedented products and tools to faster service and open conversations, we're all about helping our members get ahead and find success. Whether they're looking to buy a home, save money on student loans, ascend in their careers, or invest in the future, the SoFi community works to empower our members to accomplish the goals they set and achieve financial greatness as a result. For more information, visit SoFi.com.