Loan Depot – Mortgage Lender Review

Overall Satisfaction
95%

Since launching in 2010, loanDepot has funded more than $125 billion in home, personal and home equity loans. In just a few short years, loanDepot has now become the nation’s fifth largest retail mortgage originator, and the second largest nonbank consumer lender. The company has recently implemented an $80 million technology overhaul, and is striving to accelerate the growth that has catapulted it to major lender status since its founding eight years ago.

#1 for Mortgage

Most Trusted Brand

  • Top-rated customer service
  • No closing cost options available
  • A+ Rating with the Better Business Bureau
  • Large National Footprint

Best Features

loanDepot is a solid choice for your mortgage refinance needs due to their extensive loan offerings and outstanding customer service. They have recently  embraced technology and can now qualify customers seamlessly online. Homeowners looking for virtually any type of home refinance are bound to find an option well suited to their individual needs, coupled with professional, efficient service. loanDepot evaluates traditional credit criteria, so those with poor credit or large debt-to-income ratios may find some difficulties in getting approved.

Drawbacks

loanDepot has an extensive list of mortgage refinance offerings, but may not have the best rates for those with poor credit or high debt-to-income ratios.

Best for People Who

If you have solid credit scores, loanDepot will be one of your top options.  They have a renewed focus on cash-out refinance.  If you’re needing cash to pay for high interest debt or complete home improvement projects, be sure to have them quote a rate.

Highlights

  • Aggressive rates
  • Simple qualification process
  • Large National footprint
  • Top-rated service and responsiveness

Lender Performance

Interest Rates
92%
Closing Costs
90%
Loan Offerings
96%
Application / Approval Process
94%
Interaction
88%
Loan Closing
90%
Onboarding
92%
Problem Resolution
92%

Customer Reviews

They took the time to explain all the terms of my loan. I could not ask for anything more, they did exactly what they said they would and I have had no problems.

Jennifer P.Homeowner

Fast, excellent service and very efficient. I was looking for a 15yr fixed rate loan to replace my 30yr ARM. Best decision we ever made was going with loanDepot, they are the best.

Jessica R.Homeowner

We tried to buy a house for months with 4 different lenders. I am so glad we received a call from loanDepot. They listened and helped us even though we were working with another lender.

Steven M.Homebuyer

loanDepot - Overall

Aggressive rates. Simple qualification process. Large National footprint. Top-rated service and responsiveness.