loanDepot Mortgage Refinance Review


Rating: 8.9 / 10 (Excellent)
14 Customer Reviews - see all reviews
Disclosure: We receive advertising revenue from this partner. Learn more.
How is Loan Depot rated?
9/10
Loan Options
9/10
Application Process
9/10
Reputation

Since 2010, loanDepot has been servicing refinance loans and home purchases nationwide. The company offers competitive rates for mortgage loans and provides fast online processing that makes loan application stress-free for its customers. loanDepot also guarantees security and satisfaction with its “No Steering” policy. loanDepot gives access to licensed mortgage bankers for assistance through an online portal or by phone.

Types of Home Mortgage Refinances

  • Fixed Rate Mortgages
  • Adjustable Rate Mortgages

Other home loans offered

  • Jumbo Loans
  • FHA Loan
  • HARP Loans
  • VA Loans

Qualifying for Mortgage Loans

To qualify, loanDepot requires standard documentation like income pay stubs covering the last 30 days, wage and tax statements for the last 2 years, certain asset information like bank statements that cover the last 60 days, and recent loan information. The company also requires clients to have a credit score of at least 580.

Refinance Mortgage Rates

Rates depend on the value of the customer’s home, mortgage balance, and credit score. Customers can fill up the company’s instant quote rate on their website to view their current rates. Rates displayed are subjected to change. Be sure to read their rate assumptions or call them for details.

Why Mortgage Refinance at loanDepot

loanDepot is one of the largest mortgage bankers today that offers a simple and accessible loan mortgage refinance program. The company has been rated A+ by BBB and works as a direct mortgage lender. loanDepot is not only a high quality loan service but also provides premium online resources for additional customer support. Its “No Steering” policy ensures clients get the appropriate loan that suits their current and future needs. We recommend loanDepot for consumers who are looking for a mortgage refinance company because of its wide range of home loans and mortgage refinancing programs. 

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Latest Reviews

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J
jon s
7/26/2017
These people are horrible to deal with, did all the paper work and everything all set then they tell us at the last minute to pound sand, no reason.

L
Lucy
Brooklyn, New York
6/5/2017
I just recinanced my house with LDW, I did not have any problems at all. Every step they did they communicated electronically to me. I started the process on 4-27-2017 and I closed on 5-30-2017 with very good interest rate. Thank you very much. Luvel.

D
Dan
Wyandotte, Michigan
2/21/2017
I attempted to do a cash out refinance of my FHA mortgage. I began the process in Late August. I had a variety of issues along the way. Specifically, I was entered into the process with an experienced mortgage processor. I was then passed on to another specialist to help me through the refinance. That inexperienced specialist failed to maintain contact with me. I was receiving calls from various companies and Loan Depot would not leave messages. I would contact him via email and recieve emails days later that failed to address my questions. My employer had similar issues when they contacted him to confirm my employment. I had difficulty in getting my appraisal. The appraisal itself was... Read More

Lori R
Denver, Colorado
2/14/2017
Caught them trying to slip by a refinance rate on me that added up to almost.$8,000!! They put it into "pieces" and did add-ons as if I wouldn't notice. Crooks!! True, this may have been just one guy in the nusiness, but why take a chance? Plenty of other optoons out there. Stay away!!

Layo V
2/2/2017
great site and very use full, resourceful. has every thing relevant to what i was looking for, look no further than this site to gain what u are looking for. very easy to use, attractive site as well. i like this site

K
Kerri F
Exton, Pennsylvania
1/22/2017
Can't really give them a star at all. These people are rude and told us everything was a go. Paid for appraisal that they gave us a discount on but they knew all along they wouldn't be giving us a loan. Got all the way until settlement signed the preliminary papers. Then via email said no. Worst company ever. They will string you along to get money out of you then you get denied. Horrible experience

J
Joan
Los Angeles, California
1/18/2017
These people were horrible They took forever to review documents, then they bill you fees for their delays They didn't communicate and they constantly changed the terms on you. I would never recommend them.

G
G. B
Miami, Florida
1/8/2017
Go elsewhere for your mortgage. Poor follow through from assigned mortgage broker, failure to account for all sources of incomes and 10+ days to get a decision after my appraisal. Wasted time and $300+ dollars on an appraisal. Managed to get a refi with another company at a better rate!

C
Catherine
12/23/2016
I beg you, Do Not Use LoanDepot! I had the worse experience dealing with them. Very unprofessional! After the appraizal, they dropped the ball. Did not send me time sensitive requests. Did Not communicate with me on the progress. I lost a large sum of money dealing with this company and ended up with a deal I would have never accepted.

Lisa S
Hacienda Heights, California
11/4/2016
I'm trying to pay my mortgage on a bi-monthly basis and keep hitting walls with this company. They won't accept the 1/2 payment early and if they do, they apply all to principal. The only way to get on a bi-monthly schedule is to pay current month and following month in full. Their second rule was that they needed two cycles in a month to withdraw, ok, fine. So a 3 cycle month is coming up and I inquired about signing up then for the bi-monthly. Was told I couldn't because the first cycle was on the 2nd day of month which covered the second half of the current month payment. Therefore there were 2 cycles left to withdraw in order to fulfill the next month payment in full on the 30th day of... Read More

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