loanDepot Mortgage Review

Rating: 8.6 / 10 (Excellent)
8 Customer Comments & Reviews - see all comments
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loanDepot is an independently-owned national consumer lender offering home purchase and refinance loans as well as personal and home equity solutions. The company, which has developed its own technology infrastructure to differentiate itself from similar competitors, has funded over $125 billion in home, personal, and home equity loans since their inception in 2010.

How is Loan Depot rated?


Loan Specifics
Customer Experience
Qualification Requirements
Lender Reputation

Overall Rating: 8.6 / 10 (Excellent)

loanDepot has risen to become America's fifth-largest retail mortgage lender, with a wide portfolio of loan instruments including conventional loans, government-backed loans, and jumbo loans. Consumers interested in their service can complete an easy online mortgage application or speak to a loan officer to commence their mortgage transaction, which will then be originated and financed through one of the company's many subsidiaries.

Loan Depot Customer Experience

Loan Specifics - 8 / 10

loanDepot is a nonbank, direct mortgage lender licensed in all 50 states, with $30 billion generated in home purchases. They originate conventional adjustable and fixed-rate mortgages, government-backed FHA and VA loans, and Jumbo loans. Origination fees are flexible, commonly falling between 1% and 5%, depending on the loan grade. Two distinctive details about this lender are that they advertise a “no steering” policy meant to protect the interests of the borrower and that they extend a lifetime guarantee for all returning customers. This means that if clients later refinance their mortgage with loanDepot, they won't be charged additional lender fees and will be reimbursed for the appraisal.

Types of Mortgage Loans Offered

  • Fixed Rate 10 Year
  • Fixed Rate 15 Year
  • Fixed Rate 20 Year
  • Fixed Rate 30 Year
  • 3/1 ARM
  • 5/1 ARM
  • 7/1 ARM
  • 10/1 ARM
  • Jumbo Fixed Rate
  • Jumbo Adjustable Rate
  • VA Fixed Rate
  • VA Adjustable Rate
  • FHA Fixed Rate
  • FHA Adjustable Rate

Loan Depot Customer Experience

Customer Experience - 9 / 10

loanDepot's webpage is easy to navigate and full of information. They provide a wide variety of tools and resources, so that prospective homeowners can make sure they're well-informed before making a potentially life changing decision. After providing some essential details, borrowers can obtain a quote estimate that will give them a good idea of how large a loan they could qualify for.

Online Features

Online Application
Online Quote
Additional Tools and Resources
Mortgage Calculator
Affordability Calculator
Help Articles
Document Checklist
Check Today's Rates
SSN Required for Quote

Loan Depot Qualification Requirements

Qualification Requirements - 9 / 10

loanDepot doesn't advertise their minimum FICO score, but borrowers should be aware that conventional loans commonly require a minimum score of 620, whereas FHA loans can go as low as 580. Other requirements, such as debt-to-income ratio and down payment minimums aren't specified either.

Loan Depot Lender Reputation

Lender Reputation - 8.5 / 10

loanDepot enjoys an excellent reputation, with good customer ratings across various websites, including an A rating with the BBB and a 9.5 score with TrustPilot. Despite their relatively short time in business, loanDepot has become one of the top retail mortgage lenders in the industry, thanks in great measure to their attention to consumer needs.

Key Facts

Lender Type
Direct Lender
Year Founded
BBB Rating
BBB Positive Reviews
BBB Negative Reviews
TrustPilot Rating
9.5 out of 10
Collection Date

Complaints & Regulatory Actions

Nationwide Mortgage Licensing System ID
The Nationwide Mortgage Regulatory Actions
Consumer Financial Protection Bureau Complaints

Company Profile

Full Name
loanDepot Mortgage
Company Website
26642 Towne Center Drive, Foothill Ranch, CA, 92610

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8 Customer Comments & Reviews

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Rusty J
Newark, Delaware
So I am writing because I originally decided to go with loandepot because of their amazingly good job at relating and the ability to offer a crazy lower rate. Over the course of the loan process costs started to rise with things I was informed would be covered by them and not on the original. I was informed they would cover point costs but it ended up on the very last disclosure document made 5 minutes after the last one without it. Everything was always urgent and a rush and in 2 days they literally filled up my voicemail with constant calls. When I compared documents and brought it up, the answer was "Nothing has changed, but we need to hurry up and complete this before the rate lock... Read More

Phoenix, Arizona
Made the mistake of attempting a refi - started out everything was great - then dead silence. Problem is, I paid for an appraisal, my insurance company has already changed my insurance to coincide with an impound account (current mortgage does not have one) and I've wasted a month. My appraisal should still be good but that's "iffy" depending on who I deal with. I can't keep having people check my credit because evidently that system is designed to discourage shopping but I'm beginning a new search tomorrow. I've always gone with my gut and never been sorry and it has been screaming at me to run ...

Wappingers Falls, New York
Surprised to see others had the same issues as us. Excellent credit scores, own a few properties incl. commercial and nothing but constant documentation requests every few weeks for 4 MONTHS!!! We started out with a mortgage and after almost losing the deal on the house we borrowed from friends and closed with cash. Then we switched to a cash-out and 3 months of further documents and NOTHING!!! I complained to the complaint dept. and still no loan. Gigantic waste of time. Run screaming!!!

Mr. B
La Porte, Indiana
Going on my fourth month 3rd loan application and no cumuncation what so ever.....What a waste of time and money (appraisal fee $425.00) . I wanted to give them no star rating. Going to a real Bank tomorrow. ...will also be reporting to BBB.....

Diane B
, Arkansas
We were refinancing our home a little over a year ago. We heve excelent credit @ 780 & 825 Nothing but horrible service, expired rates etc. 6 months of nothing but extreme rudeness and lies! They also stole my $600.00 from the non-returned appraisal fee! We had our credit union do the refinance in 18 days. Worst Experience Ever! Avoid Loan Depot! DIANE &MO B

Haines, Oregon
I had a terrible experience with one of the representatives. He was rude, pressuring, and very disrespectful when I asked to call him back at a more convenient time. I was very concerned after this interaction that my identity information was at risk. I have verified that he does in fact work for Loan Depot I am attempting to report this to his supervisor. I will file a complaint with the BBB if I am not satisfied with this supervisors response.

Fuquay-Varina, North Carolina
Very slow process and poor communication.

Brandon S
, Washington
What started out as a promising relationship turned bad quickly. I was wanting to refinance my existing 1st and HELOC and my initial agent walked me through a process that would allow us to do it at minimal out of pocket costs. It turned out, what she was doing was illegal and the result was my loan was not only prolonged but I took out a personal loan with them to payoff my HELOC at a high interest rate (I wasn't supposed to have it long enough to even make a payment). Two+ months in, and I have not heard anything back on the refi on our first mortage. My wife and I make great money, have credit scores over 780 and low debt to income ratio. Not only have I not heard anything back,... Read More

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