Compare Loan Depot vs. SoFi Mortgage Refinance

What’s the difference between loanDepot Mortgage Refinance and SoFi 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
SoFi Mortgage Refinance
9.5 / 10 - Excellent
#4 in Mortgage Refinance
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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!
  • Easy online application & competitive rates
  • No fees, no catch! No Application, Origination or Lenders Fees.
  • Refinance fast! Typical applications close in 30 days
  • Refinance up to 80% of your home’s value
  • Over $4,000,000,000 dollars in loans funded

OVERALL RATINGS

 Loan DepotSoFi
Loan Options8/1010/10
Application Process9/1010/10
Reputation9/1010/10

Loan Options

 Loan DepotSoFi
Lender Type
Lender
Lender
Loans Offered
Rate & Term
Cash-out
Rate & Term
Cash-out
Loan Programs
FHA
VA
Conventional
HARP
Jumbo
Conventional
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
7/1 ARM

Application Process

 Loan DepotSoFi
FHA Minimum Credit Score
580
580
Closing Time
Loans close in 3-5 days, once the loan documents are signed and delivered back.
Typical applications close in less than 30 days.
Waived Fees
After refinancing once with loanDepot, they waive the lender fees and reimburse appraisal fees for any future refinance.
No origination, application, or other lender fees.

Reputation

Memberships & Regulatory Info.

 Loan DepotSoFi
Nationwide Mortgage Licensing System ID
174457
1121636
Nationwide Mortgage Regulatory Actions
2
0
NMLS Collection Date
2017-07-18
2017-07-17
CFPB Total Mortgage Complaints
409
3
CFPB Collection Date
2017-07-13
2017-07-13
Total VA Loans Written (Q1 2017)
5,747 loans
Total VA Loan Amount (Q1 2017)
$1,705,766,976

Online Reviews

 Loan DepotSoFi
Trustpilot Trustscore
8.4
9.6
BBB Rating
A
A+
BBB Positive Reviews
434
11
BBB Negative Reviews
168
49
BBB Neutral Reviews
8
Date Collected
2017-07-18
2017-07-17

Contact & Additional Information

 Loan DepotSoFi
Homepage URL
Company Phone
(888) 983-3240
(844) 763-4466
Headquarters Address
26642 Towne Center Drive, Foothill Ranch, CA, 92610
375 Healdsburg Avenue Suite 280, Healdsburg, CA, 95448
Mailing Address
P.O. Box 11733, Newark, NJ, 07101
375 Healdsburg Avenue Suite 280, Healdsburg, CA, 95448
Year Founded
1995
2011

Final Verdict

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


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