Total Prizes:
$7,989,938
Active Sweepstakes:
66
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SoFi Mortgage Payoff Sweepstakes (Mail-In)

Posted Date: February 2, 2026
SoFi is giving one winner the chance to have up to $500,000 applied toward their mortgage balance.

My Honest Take

This is one of those “holy wow” prizes, but it’s also super specific — so it’s a long shot and it’s not for everyone. The effort is low (there’s only one entry total), but you do have to qualify by having an existing mortgage and following the entry path that applies to you. Still, if you’re eligible, it’s absolutely worth taking the one quick swing because the potential payout is massive.
SoFi Mortgage Payoff Sweepstakes featuring a home protected under a glass dome, representing a mortgage balance payoff prize up to $500,000.

Total Number of Prizes: 1

Grand Prize ARV: $500,000

Total ARV of All Prizes: $500,000

Entry Frequency: Single Entry

Eligibility:

All States

Start Date: October 16, 2025

End Date: February 28, 2026

Prize Description:

One winner will receive a mortgage payoff applied directly to their existing home loan. Must be a homeowner with an existing mortgage.

The prize covers up to $500,000 of the winner’s current mortgage balance and is paid directly to the lender, not to the winner.

Who This Is Made For

This is a great fit if you have a current mortgage loan (with SoFi or another U.S. lender) and you don’t mind doing a simple setup step to lock in your single entry. If you don’t have a mortgage right now, you won’t be eligible, so you should skip it.
Sweepstakes Mom logo featuring Elizabeth, a friendly sweepstakes expert and prize giveaway brand

How to Enter:

*You must be a homeowner with an existing mortgage to accept the prize*

There are 2 methods to enter, Online Entry Form and AMOE

AMOE
Write a hand-printed postcard or a 3″ × 5″ card, include: First and Last Name, Email, full home address, phone #, date of birth
Mail it in a stamped #10 envelope to the address provided in the official rules (see official rules)

(One entry per person regardless of entry type)

Enter Here

All Prizes

Grand Prize: Mortgage payoff applied to existing home loan
ARV: $500,000

Official Rules - Click Here

Why Should You Enter:

This sweepstakes is worth entering because it’s a rare, high-impact prize with a low entry limit — you’re not competing against people who can rack up hundreds of entries. It’s best for eligible homeowners who are already organized enough to follow the steps once and make sure their info is correct. And because it pays the lender directly, it’s a straightforward “verify your mortgage, apply the payoff” structure instead of something fuzzy or complicated.

Quick Heads-Up

You only get one entry total, no matter which method you use, so there’s no daily grind here. The prize is paid directly to your mortgage lender (not to you), and it’s capped at the lesser of $500,000 or your remaining mortgage balance at the time you’re verified. Because the prize value can be huge, taxes are a real thing to expect if you win.

Frequently Asked Questions:

Is this sweepstakes free to enter?

Absolutely! You can enter for free, and buying anything won’t give you an edge or improve your chances.

How and when will the winner be notified?

The winner will be notified via email and must respond within the required timeframe to claim the prize.

Not sure what a real winner notification looks like? See real examples of actual sweepstakes winner emails on our How to Know If You Won page.

Is this sweepstakes legitimate?

Yes. This sweepstakes is sponsored by SoFi and administered under published official rules.
Find more chances to win with Cash Sweepstakes and Mail-In Sweepstakes.
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