Was surprised that Loan Depot had such a low rate. A free inside look at company reviews and salaries posted anonymously by employees. Loan Options. Jumbo. I currently have an application with a local bank with a rate lock of 3.5% with about 3 to 4k closing costs. Some customers found the rates, service and processing to be much better than similar companies. Whenever you are in a tough financial situation then you might think of Personal loans that are the only solution. With $30 billion of loans originated for new home purchases (not to mention an extra $70 billion in refinances), loanDepot has certainly earned its spot as one of the leading online mortgage lenders. Press question mark to learn the rest of the keyboard shortcuts, https://www.nerdwallet.com/reviews/mortgages/loandepot-mortgage-loans. 59. But you need a good loan – it will earn a yearly commitment. LoanDepot has made its name in tech-first mortgage lending and refinance. Looks like you're using new Reddit on an old browser. loanDepot Review. My impression of the complaints and reviews is that the service sucks and the marketing promises you may have received are probably not be entirely accurate. A free inside look at company reviews and salaries posted anonymously by employees. Read 5 more reviews about loanDepot Only the latest review will count in the company's TrustScore Nicole Nunez 1 review. loanDepot Review- Competitive Mortgage Rates and Quick Service. Here's the company's BBB page (cue "BBB is useless comments", ignore those). 1,045 loanDepot reviews. Overall lender rating. Adjustable Rate Mortgage Terms: 10/1 ARM. Anyway, be prepared for it to be more difficult than a more customer-oriented firm, but absolutely worth it for that savings. 10. For more information, please see our Advertising Policy. Founder Name: Anthony Hseih. I have used Loan Depot to close a home loan, their employees seemed competent enough. My impression of the complaints and reviews is that the service sucks and the marketing promises you may have received are probably not be entirely accurate. Specialties: loanDepot offers home purchase and refinance loans, personal loans and home equity products. Not sure whether to trust loan depot or not. I gave them the benefit of the doubt and attempted to refi with them again this year. 3.0. out of 5. 15 Year Fixed. However, if you can not qualify for anything else, you can get a secure credit card at any time. 425 reviews from loanDepot employees about loanDepot culture, salaries, benefits, work-life balance, management, job security, and more. Total funded loans. Is there more to the offer we're not seeing? LoanDepot Review: Looking at reviews for LoanDepot?Is it worth it or not? Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. It is reportedly the second largest non-bank provider of direct-to-consumer loans in the United States.. History. I was a little bit worried to work with LoanDepot after reading some of the other Google reviews, but they exceeded my expectations at every step in the process. Product Name: Loan Depot. Please feel free to reach out to our team if you ever need assistance. Thank you so much for your review. LoanDepot is a great company that focuses on technology and the customer. How much do they charge? I refinanced with them a little over a year ago and they constantly missed appointments and it took forever. It was great to see the tremendous growth they had first hand. LoanDepot has been busy since our first review of its services in 2016. 30 year fixed is what we're looking into. One of the best ways to determine whether you’ll have a good experience with a lender is to see what other consumers are saying about it. NMLS ID# 174457. They are the worst They are the worst! Quicken made same offer - same interest rate, etc., but with +4k in loan size to wrap their 4k fee into the loan. Do you agree with loanDepot’s 4-star rating? See BBB rating, reviews, complaints, request a quote & more. Read 5 more reviews about loanDepot Only the latest review will count in the company's TrustScore Nicole Nunez 1 review. I currently … LoanDepot Review. They compensate their employees very well in exchange for the hard work put in. LoanDepot Review You can initially find it difficult to get an unsafe credit card. Here’s Nerdwallet’s review: https://www.nerdwallet.com/reviews/mortgages/loandepot-mortgage-loans. Cash-out. 30 year fixed is what we're looking into. loanDepot also has over 1,700 licensed lending offices across the country. LoanDepot Review 2020. Why would anyone choose that option?? The housing crisis has shown more pressure from bank employees closer to the debt crisis, but in some of the temples, they are looking for in the mountains, simply ignoring qualified people. Learn more about this and other mortgage lenders at Bankrate.com. loanDepot Mortgage Review for 2020. They keep their fees low by handling a very high volume of loans. Days average closing time. 20 Year Fixed. Here’s how we make money. Many customers love this model, but as with any lender, there are pros and cons. Looking at reviews for LoanDepot? Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Refinance Took F-o-r-e-v-e-r. LoanDepot Personal Loan No debt or penalty will be paid to the debtor on the basis of the cost of replacement debt. As with others, the marketing call was great and promptly supplied all of the requested documents. The servicer ended up being Quicken Loans, but the rate and fees were much less that Quicken Loans was offering directly, even when I asked them if they could match it. -Professional real estate consultant. Voice your opinion today and hear what 2568 customers have already said. Review: loanDepot Mortgage. On the plus side, loanDepot recently revamped its website, making it easy to handle the entire application process online. Loan Depot has sent me a quote of 3.375% with zero points with similar closing costs. You can also read our community reviews and hear what others have to say about their experience with loanDepot. Are you thinking about purchasing a new home? We have excellent credit and live in Boston. Read 1 more review about loanDepot Only the latest review will count in the company's TrustScore Tomas 1 review. Looking to refinance our mortgage of 540,000. Check out what 2,568 people have written so far, and share your own experience. Fair point, it just surprised me for it to be under 3.5%. From your description, the rate varies by an 1/8 of a point. Find reviews and ratings for LoanDepot. Looking to refinance our mortgage of 540,000. I've never had a better experience with another provider. 1,083 loanDepot reviews. On the plus side, the company seems legit, you can still save a lot of money if you use them, and if your loan doesn't go through and you complain to the BBB they'll probably refund the appraisal fee. LoanDepot is rated three out of five in the J.D. Continue this thread level 1. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. Rob 1 review. loanDepot is located at 407 Atlantic Ave, Brooklyn, NY 11217, USA. Log in to write a review . Backed by excellent reviews, loanDepot is a great choice for your mortgage refinance, especially if you plan on doing so more than once. Loans in Foothill Ranch, CA. Information is provided by the mortgage lender. No idea about that company specifically, but I got my mortgage through a similar discount broker. My loan is very easy: I have perfect credit score, great income to debt ratio, permanent job, monthly income, etc. I've never had a better experience with another provider. Lender Type: Lender. I worked their for 5 years and enjoyed every year with them. Power 2019 U.S. Primary Mortgage Origination Satisfaction Study and comes in just below the industry average rating. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. Advertiser disclosure. The loanDepot loan administration team provides several types of personal loans: 1. Sounds almost too good to be true. 7/1 ARM. They’re eligible to do business in any state, plus they place high importance on customer service. We are thrilled the loanDepot team led by Jay and Chris were able to make this a positive experience. This article may contain links from our advertisers. Official Website: loandepot.com. Learn all before getting LoanDepot. You need to read the contract with a lawyer. Press question mark to learn the rest of the keyboard shortcuts. LoanDepot was founded in 2010 by entrepreneur Anthony Hsieh, who had previously founded mortgage companies LoansDirect.com … Is it worth it or not? loanDepot Personal Loan Products . … I was a little bit worried to work with LoanDepot after reading some of the other Google reviews, but they exceeded my expectations at every step in the process. I thought a 45 day lock would be sufficient. I'm not getting the "amazing deal" vibes you're suggesting. LoanDepot offers homebuyers a portal to compare mortgage loan offers. By using our Services or clicking I agree, you agree to our use of cookies. 1,071 loanDepot reviews. I should have read LoanDepot reviews… I should have read LoanDepot reviews before agreeing to refinance a loan with them. Close. Loan Programs : FHA. $212B. Do you agree with loanDepot's TrustScore? Loans Offered: Rate & Term. BBB accredited since 11/4/2014. loanDepot was founded in 2010 and is based in Foothill Ranch, CA. Good for: borrowers looking to refinance or who want to start the application process online. LoanDepot reviews. LoanDepot Review. Is there some aspect of their loan that is a gotcha? A variety of loans are available to search, including hard-to-find 10- and 20-year fixed loans. Advertiser Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone. A free inside look at company reviews and salaries posted anonymously by employees. 10 Year Fixed. The lender has an A rating … LoanDepot, sometimes stylized as loanDepot, is a Foothill Ranch, California-based holding company which sells mortgage and non-mortgage lending products. The service was awful and I had to follow up constantly to keep my application going, but the rate was unbeatable. Some links below are from our sponsors. Average closing time is calculated using lock to fund dates in 2017. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. LoanDepot Review The repayment of debt is successful in its pursuit of repayment of debt when avoiding monthly allowances and in advance or mortgage-related penalties. A free inside look at company reviews and salaries posted anonymously by employees. Fixed Year Terms: 30 Year Fixed. from Credit Karma members. Average rates seemed to be around 3.75% so 3.5% I considered pretty good. LoanDepot mortgage review: A mortgage lender with many options. VA. There are mixed reviews online regarding LoanDepot.com’s business practices. We have excellent credit and live in Boston. Learn all before getting it. Since loanDepot’s main business consists of home-related loans, we couldn’t find any loanDepot reviews for the lender’s personal loan product. Then the lending officers disappeared. So, if you want to get a home loan after you get bankrupt, it’s possible. You can access basic mortgage information without signing up for an account, and it’s easy to update your information and view additional loan offers in a simple and straightforward manner. It seems almost too cheap. loanDepot Review: Mortgage, Home Equity Loans, and Refinancing Crediful September 9, 2020. We are no way affiliated with better business bureau or yelp reviews platform. HARP. Join our community, read the PF Wiki, and get on top of your finances! loanDepot mortgage loans has received mixed reviews in terms of customer service. They don't put their rates on their site so I had assumed they wouldn't be great. Press J to jump to the feed. The loanDepot reviews below will take a deeper look at each of the unsecured personal loan products so you can decide which one is right for you. Debt Consolidation Loan . Hal M. Bundrick, CFP September 21, 2020. How does that compare to other quotes? You can contact loanDepot by dialing (646) 586-5608 or visit their website loandepot.com before filing a lawsuit. This date may not reflect recent changes in individual terms. 1,082 loanDepot reviews. Years in the industry. US. 403 reviews. Cookies help us deliver our Services. Still, there were other customers who were highly dissatisfied and regretted applying for a loan through LoanDepot. If so, … Updated November 7, 2020 • 5 min read. Join our community, read the PF Wiki, and get on top of your finances! Edit: based on the review, how many points do you have to buy down to get the rate they’re offering? Share: Click to share on Twitter (Opens in new window) Click to share on Facebook (Opens in new window) Click to share on Reddit (Opens in new window) Image: Smiling father holding young daughter in living room. Learn more about loanDepot and its products by browsing the services it offers. Conventional. etc. It took over 90 days to close - not because of the complexity of my personal finances. On the plus side, the company seems legit, you can still save a lot of money if you use them, and if your loan doesn't go through and you complain to the BBB they'll probably refund the appraisal fee.