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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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.

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