Compare Loan Depot vs. Rocket Mortgage Refinance

What’s the difference between loanDepot Mortgage Refinance and Rocket Mortgage Refinance? See how our editors compare the two companies below.
Last Updated: December 04, 2017
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Loan Depot
8.5 / 10 - Excellent
#11 in Mortgage Refinance
Rocket Mortgage Refinance
9.0 / 10 - Excellent
#6 in Mortgage Refinance
vs

Key Facts

  • 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!
  • Rocket Mortgage by Quicken Loans!  We’ve Reinvented the Refinance Process…
  • Get an automated refinance approval in minutes
  • Save time & avoid paperwork by sharing your finances online. 
  • Real Numbers in Real-Time

OVERALL RATINGS

 Loan DepotRocket
Loan Options8/1010/10
Application Process9/109/10
Reputation9/108/10

Loan Options

 Loan DepotRocket
Lender Type
Lender
Lender
Loans Offered
Rate & Term
Cash-out
Rate & Term
Cash-out
Loan Programs
FHA
VA
Conventional
HARP
Jumbo
FHA
VA
Conventional
HARP
Jumbo
Fixed Year Terms
30 Year Fixed
20 Year Fixed
15 Year Fixed
10 Year Fixed
30 Year Fixed
15 Year Fixed
Adjustable Rate Mortgage Terms
10/1 ARM
7/1 ARM
5/1 ARM
3/1 ARM
10/1 ARM
7/1 ARM
5/1 ARM

Application Process

 Loan DepotRocket
FHA Minimum Credit Score
580
580
Closing Time
Loans close in 3-5 days, once the loan documents are signed and delivered back.
Approximately 30 days.
Waived Fees
After refinancing once with loanDepot, they waive the lender fees and reimburse appraisal fees for any future refinance.

Reputation

Memberships & Regulatory Info.

 Loan DepotRocket
Nationwide Mortgage Licensing System ID
174457
3030
Nationwide Mortgage Regulatory Actions
2
1
NMLS Collection Date
2017-07-18
2017-07-18
CFPB Total Mortgage Complaints
409
1,315
CFPB Collection Date
2017-07-13
2017-07-13
Total VA Loans Written (Q1 2017)
5,747 loans
14,958 loans
Total VA Loan Amount (Q1 2017)
$1,705,766,976
$3,163,948,550

Online Reviews

 Loan DepotRocket
Trustpilot Trustscore
8.4
9.4
BBB Rating
A
A+
BBB Positive Reviews
434
1,906
BBB Negative Reviews
168
245
BBB Neutral Reviews
8
70
Date Collected
2017-07-18
2017-07-18

Contact & Additional Information

 Loan DepotRocket
Homepage URL
Company Phone
(888) 983-3240
(800) 304-1225
Headquarters Address
26642 Towne Center Drive, Foothill Ranch, CA, 92610
1050 Woodward Avenue, Detroit, MI, 48226
Mailing Address
P.O. Box 11733, Newark, NJ, 07101
1050 Woodward Avenue, Detroit, MI, 48226
Year Founded
1995
1985

Final Verdict

Rocket Mortgage Refinance has a higher overall rating than loanDepot Mortgage Refinance. Rocket scores better than Loan Depot across: Qualifying, Mortgage Related Fees, Reviews and Support Service, and Loan Options. However, Loan Depot scores better on Reputation. Both companies score similarly on Mortgage Types, Financial Reputation, and Application Process.


Customer Comments & Reviews

L
Lucy
Copiague, New York
6/5/2017
loanDepot Mortgage Refinance review
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.


Layo V
Auckland, Auckland
2/2/2017
loanDepot Mortgage Refinance review
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