loanDepot VA Loans Review

Rating: 9.4 / 10 (Excellent)
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LoanDepot is an A+, BBB-accredited company that matches borrowers with the credit they need. For veterans, their services include loans for home refinance and purchase, as well as home equity loans. In fact, they are the fifth-largest lender of VA-guaranteed mortgages, with specially trained consultants in the area.

How is loanDepot rated?


Loan Options
Application Process

Overall Rating: 9.4 / 10 (Excellent)

loanDepot is a fast-growing national retail mortgage lender that matches borrowers with financial products through their unique technology infrastructure and consumer-centered sales approach. The company offers an excellent selection of home purchase and refinance loans backed by the Department of Veteran Affairs and provides an easy application process with fast approval times. Where loanDepot truly excels, however, is in their no-steering policy and lifetime guarantee, which ensures that their customers are paired with products that are right for them and that they never have to cover unnecessary lender fees in future applications. loanDepot is a go-to option for anyone looking for affordable rates, a hassle-free application, and a high-tech customer experience.

Loan Options

Lender Type
VA Loan Types
Rate & Term Refinance
Streamline Refinance (IRRRL)
Cash-out Refinance
Cash-in Refinance
Property Types
Single Family Home
Multi-family Unit
Mobile/Manufactured Home
Term Lengths
40 Year Fixed
30 Year Fixed
25 Year Fixed
20 Year Fixed
15 Year Fixed
10 Year Fixed
8 Year Fixed
Adjustable Rate Mortgage Terms
10/1 ARM
7/1 ARM
5/1 ARM
3/1 ARM
1 Year ARM
Maximum Loan Size
Loan Size

Loan Options - 9.4 / 10

loanDepot has an ample selection of fixed and adjustable rate VA loans for home purchase and refinance purposes. They also offer jumbo loans, streamline refinance, and cash-in or cash out refinance options for the construction or renovation of single-family homes, multi-family units, condos, and townhouses. In addition to a broad range of mortgage products, loanDepot offers loan amounts that range between $36,000 and $42,4100, in line with other, similar lenders.

Application Process

Fee Information
VA Funding Fee
Waived Fees
Prepayment penalty, Private Mortgage Insurance

Application Process - 9.3 / 10

loanDepot waives prepayment penalties, private mortgage insurance costs, and application fees. They also offer some highly appealing features such as their no-steering policy, which ensures that customers are always presented with realistic rates and products that meet their needs, and their lifetime guarantee, which states that customers who refinance with them never have to pay lender fees again. loanDepot is also currently working on an online loan application process that will kick their game to the next level and make them an even stronger competitor in the online lending market.


Memberships & Regulatory Info.

Nationwide Mortgage Licensing System ID
Nationwide Mortgage Regulatory Actions
NMLS Collection Date

Online Reviews

Trust Pilot Rating
8.4 out of 10
BBB Rating
Number of BBB Positive Reviews
Number of BBB Neutral Reviews
Number of BBB Negative Reviews
Date Collected

Reputation - 9.4 / 10

loanDepot is accredited by the Better Business Bureau and currently holds an A rating with overwhelmingly positive customer reviews. The company has also received a Trustpilot score of 8.1 (Great) based on mostly positive client feedback. According to the Better Business Bureau, in January of 2015, the Department of Business Oversight took action against loanDepot with an Accusation, Statement of Facts, and Order to Discontinue, due to a number of allegations; such as failing to reconcile trust ledgers on a weekly basis and overcharging borrowers their per diem interest. However, the matter was resolved in November of that year with a Settlement Agreement in which the company was ordered to pay $50,000 in administrative costs to the DBO. Overall, the company has received a moderate amount of customer complaints, and there have only been two regulatory actions against them with the Nationwide MultiState Licensing System & Registry. The company remains among the largest VA-backed mortgage lenders in the country.

VA Loan History

Period Total Loan Size Number of Loans
Q1 2016 $3,652 1,060,054,955
Q2 2016 $3,633 1,052,796,363
Q3 2016 $5,200 1,579,292,980
Q4 2016 $5,677 1,695,368,209
Q1 2017 $5,747 1,705,766,976
Q2 2017 $7,520 2,092,035,453
Q3 2017 $5,999 1,610,050,887

Contact & Additional Information

Homepage URL
Company Phone
(888) 337-6888
Headquarters Address
26642 Towne Centre Dr, Foothill Ranch, CA, 92610
Mailing Address
P.O. Box 11733, Newark, NJ, 07101

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Customer Comments & Reviews

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Freddie D
Atlanta, Georgia
I am currently with Loan Depot with my VA loan. I have submitted multiple times since October 2017 for help with only 2 months payments when my wife had surgery and was out of work. It’s always that they need something else or my paperwork has expired. We have had multiple phones calls with them trying to get help with 0% luck. 22 years I’ve serve and 15yrs I’ve owned my home and they do not care!!

Our Partner
9.4 / 10
  • A+ BBB Accredited
  • Equal Housing Lender
  • Online Mortgage Calculator
  • No Steering Policy
  • VA mortgage calculator available
  • VA loans for purchasing and refinancing home
  • loanDepot Lifetime Guarantee