loanDepot Mortgage Refinance Review

Rating: 8.5 / 10 (Excellent)
15 Customer Comments & Reviews - see all comments
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Founded in 2010, loanDepot is a national consumer lender and financial services company with headquarters in Southern California. The company matches borrowers and lenders through their online marketplace, helping customers find competitive mortgage rates and loans with ease. loanDepot currently operates in over 180 locations across the nation and is affiliated with over 1,700 licensed professionals.

How is Loan Depot rated?


Loan Options
Application Process

Overall Rating: 8.5 / 10 (Excellent)

California-based loanDepot has been providing qualified borrowers with mortgage refinance loans since 2010. Their loan offerings are fairly standard, though they do have a good variety of term lengths. The company does take the unusual step of incentivizing additional refinance loans, by waiving lender fees and reimbursing appraisal costs for second-time customers. Backed by excellent reviews, loanDepot is a great choice for your mortgage refinance, especially if you plan on doing so more than once.

Loan Options

Lender Type
Loans Offered
Rate & Term
Loan Programs
Fixed Year Terms
30 Year Fixed
20 Year Fixed
15 Year Fixed
10 Year Fixed
Adjustable Rate Mortgage Terms
10/1 ARM
7/1 ARM
5/1 ARM
3/1 ARM

Loan Options - 8 / 10

loanDepot has been offering mortgage refinance loans since 2010, funding more than $100 billion. Their over 1,700 licensed lending officers across the U.S., and their no-steering policy, ensures that borrowers are matched with the loan best suited to their needs. Their debt instruments include both conventional loans, and FHA, VA, and USDA-backed alternatives, with one of the largest varieties of term lengths to choose from in the refinance marketplace.

Application Process

FHA Minimum Credit Score
Closing Time
Loans close in 3-5 days, once the loan documents are signed and delivered back.
Waived Fees
After refinancing once with loanDepot, they waive the lender fees and reimburse appraisal fees for any future refinance.

Application Process - 9 / 10

Refinancing your mortgage with loanDepot is a hassle-free process, with quicker approval and closing times than is usual in the industry. They also offer some incentives for refinancing with them more than once, waiving all lender fees and reimbursing appraisal costs.

Loan Depot Reputation

Memberships & Regulatory Info.

Nationwide Mortgage Licensing System ID
Nationwide Mortgage Regulatory Actions
NMLS Collection Date
CFPB Total Mortgage Complaints
CFPB Collection Date
Total VA Loans Written (Q1 2017)
5,747 loans
Total VA Loan Amount (Q1 2017)

Online Reviews

Trustpilot Trustscore
BBB Rating
BBB Positive Reviews
BBB Negative Reviews
BBB Neutral Reviews
Date Collected

Reputation - 8.8 / 10

loanDepot is a BBB-accredited business with overwhelmingly positive reviews, a solid A rating, and only two regulatory actions with the Nationwide Mortgage Licensing System. They have an above average 8.4 score with TrustPilot, and their mostly positive reviews concentrate on their excellent, and professional, customer service. However, the company does have multiple complaints filed with the CFPB.

Contact & Additional Information

Homepage URL
Company Phone
(888) 983-3240
Headquarters Address
26642 Towne Center Drive, Foothill Ranch, CA, 92610
Mailing Address
P.O. Box 11733, Newark, NJ, 07101
Year Founded

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15 Customer Comments & Reviews

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charles m
Warner Robins, Georgia
Beginning of process told there's no closing close, get to the end before closing need $3,577.00 didn't have all the funds had to get a gift from a friend. Want the friend to give them saving/checking account number/balance in account or no closing. Who give a company their account number in today hacking world. 24 year veteran with a 11.7% rate met all qualification couldn't get a refinace because friend doesn't want to give company they aren't working with their account number 'be prepared",

jon s
Haverhill, Massachusetts
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.

New York, New York
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.

Wyandotte, Michigan
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
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
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

Kerri F
Exton, Pennsylvania
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

Costa Mesa, California
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. B
Deerfield Beach, Florida
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!

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.

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