loanDepot Mortgage Refinance Review

Rating: 8.5 / 10 (Excellent)
15 Customer 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

Top Rated
Our Partner
8.5 / 10
  • Easy Online Refi Calculator
  • Historically Low Interest Rates
  • Talk to a Licensed Mortgage Banker If You Prefer Phone
  • Cash-out & Debt Consolidation Options
  • Convenient in-home document signing & No Closing Cost Options Available!

Latest Loan Depot Reviews

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.

Lisa S
Sacramento, California

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

Joe A
Fayetteville, New York

Loan depot was not able to even come close to my credit Unions interest rate and closing cost to refinance my home. Would not recommend any online service. Go credit union.

Thomas P
El Cajon, California

Buyer beware with this high pressure outfit! They are a bait and switch company that preys on the unsuspecting public One of their loan processors, Jessica Kuznia, lied twice to me under direct questioning on why they had not funded my loan after 8 weeks. One key reason was that they had not received IRS form 4506-T even though we sent it in to Jessica Kuznia 2 weeks ago. She was so sure I had not sent it, a red flag hit me in the face Her clue" well you may have faxed it but we have not received it" Sure enough the original fax was "canceled" so over the last two days I have been having fun viewing the reasons for not connecting. The HP lie.rejection slips so far 5 "no answers", 4... Read More

Dallas, Texas

So I have been looking around and refinancing my house and inquiring on rates. I spoke with this company and all they wanted to do was just straight into a credit check. I explained I am just inquiring and do not want my credit ran with out knowing approximate rates and closing costs. The guy proceeded to tell me "If that was the case than Anyone could do my job" . Seriously?? You can't give a person an approximation and respond with a smart a** answer like that? He then proceeded to tell me other companies are not doing their job correctly if they are providing approximate % rates/ closing costs then he HUNG UP ON ME.. I wouldn't do business with this company even if they were rated #1... Read More

Shannon M

they lead us along for 90 days....and then came up with more excuses, very bad experience!! I would not recommend to anyone. please look else where for your refinance options.