loanDepot Reviews - What Is It?
DO NOT USE loanDepot!!! You Must Read This Review!
Fully Researched: Price, User Feedback and More!
loanDepot is a financial services company and a national consumer lender that was founded in 2010. The company has its headquarters in Southern California. They match their borrowers and lenders online via their marketplace, helping people to find loans and competitive mortgage rates with ease. At present the company operates in over 180 locations in the country and is affiliated with more than 1,700 licensed professionals. loanDepot offers a wide variety of loan options, has an easy and fast application process as well as positive customer reputation. This California-based lender has been offering mortgage refinance loans to qualified borrowers since 2010. Their offerings are quite standard, but they do have a great variety of term lengths.
loanDepot takes an unusual step of incentivizing extra refinance loans, by reimbursing appraisal costs and waiving lender fees for second-time customers. The company is backed by excellent customer reviews. Based on online feedback, this is a great choice for mortgage refinance, especially if you are going to do so more than once. Homepage of the company is https://www.loandepot.com/. Headquarters address is 26642 Towne Center Drive, Foothill Ranch, CA, 92610. Their mailing address is P.O. Box 11733, Newark, NJ, 07101. If you have any questions you can call at the company phone (888) 983-3240. Let us take a look at what real customers are saying about their experience of working with loanDepot.
Customer Reviews - Does loanDepot Really Work?
There are quite many customer reviews about loanDepot on third-party websites and most of them carry a positive character. One of the advantages highly praised by the borrowers is a wide variety of loan options. The company has been offering mortgage refinance loans for eight years already, funding over $100 billion. They have more than 1,700 licensed lending officers in the country. Their no-steering policy guarantees that borrowers are matched with the proper loans that would maximally meet their needs. Their instruments include conventional loans, and VA, FHA, and USDA-backed alternatives. They also offer a large variety of term lengths for you to choose from. Their loan programs include VA, FHA, Conventional, Jumbo and HARP. Fixed Year Terms include 10 Year Fixed, 15 Year Fixed, 20 Year Fixed and 30 Year Fixed.
The customers report that their application process is generally fast and easy. The required FHA Minimum Credit Score is 580. Loans close in three-five days, after the loan documents are signed. After refinancing with loanDepot, they the lender fees are waived and appraisal fees are reimbursed for future refinance. Refinancing mortgage with this company is a hassle-free process. It features fast approval and closing times. They offer incentives for refinancing with them more than once. You should be aware of the fact that loanDepot is a BBB-accredited business. The majority of customer reviews are highly positive. The company can boast a solid A rating and just two regulatory actions with the Nationwide Mortgage Licensing System. TrustPilot has given them an above average 8.4 score. Their positive reviews focus on their perfect, professional, and responsive customer service. The company has some complaints filed with the CFPB.
One customer writes in his testimonial that his family and I moved to Fernandina Beach, Florida several months ago. They were renting a small beach house to get a lay of the land. After they settled in they met their realtor and started their search of a house. They considered all areas. According to the man's words, their realtor did a wonderful job showing them around. After several months, the family started to narrow down their search, and found a great house. Their realtor put them in contact with the perfect Loan Consultant named John Adams. That man was punctual, knowledgeable, and hard-working from the first conversation to the day of closing. In the process the customer learnt that John has great respect towards people who have served America. Since that man was a veteran, John helped him to find and finance a home of his dream, even though the man was not using a VA loan. There is nothing difficult or confusing about the loan application from start to finish. John managed to handle everything just perfectly. He communicates to his customers every day via email, text, and calls. The customer is very happy with his home purchase in Fernandina Beach. They closed in ten days! John explained the process, delivered day after day, helped the family with the paperwork, consulted other professionals in the field of home loans. The man is sure that other representatives of the loanDepot customer service department are also knowledgeable and hard-working. Let us take a look at some other success stories.
"loanDepot offers a great idea of an adjustable rate mortgage on a 30 year fixed rate at 3.635%. I am a veteran and I was very pleased with my work with this lender. They suggested me the most suitable of their loan programs. It was beneficial for my need of buying a home. I liked this company and I advise everyone to borrow money from them. They have nice customer service."
"loanDepot features a good resourceful website that is full of all the necessary information. It just has everything linked to what I was looking for. This site is easy to use, well-designed and attractive. The company's reps are very easy to work with. They answered all of my questions promptly. I did not feel any pressure at all. The workers are knowledgeable and helpful. My agent made the loan process free from any stress. It finished with ease."
"loanDepot service was fast and free from hassle. They have a wonderful team of specialists. I never had to wait for help or response, they are available 24/7. Most of all I liked to work with Brad who was our loan person. We explained him the situation and he found a nice house for us at good mortgage rates. Brad just made the puzzle pieces fit together perfectly, even in our difficult situation. We got lender approval really fast."
My Final Summary
Summing everything up, let me remind you that loanDepot is a top America's lender who matches borrowers via high-touch customer care and technology with the funds they need to improve their lives. This national consumer lender is growing really fast by offering a diverse financial platform and dissolving the lines between mortgage and nonmortgage credit. They are headquartered in Southern California and employ more than 5,400 lending professionals all over the country including over 1,700 licensed loan officers who hold over 10,000 licenses. Besides, the company operates more than 180 local loan locations in the country. loanDepot has funded over $100 billion in loans and is passionate about providing dynamic product delivery and financial technology supported by great customer service to meet the needs of their customers. The company is associated with a great number of positive testimonials from real customer. In our big crazy world, whenever you face difficulties and need money, you may address this company. Based on our research, I do recommend loanDepot. I am sure you will find the necessary assistance with this company.
loanDepot Pricing and Rates
If you are shopping around for the lowest rate, loanDepot may be an answer to this question. This is a direct lender that offers some of the lowest interest rates for home loans today. For example, their rate is 4.625% and APR is 5.178%. The company may lower your rate at no cost in certain situations and under definite circumstances.