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LoanDepot Mortgage Overview 2021 – The Easy Greenback

SCORE: 3.9

By David McMilin

LoanDepot Mortgage Overview 2021 | The Easy Greenback


3.8 / 5.0

SimpleScore LoanDepot 3.8


LoanDepot was based in 2010 and has shortly develop into one of many greatest names within the mortgage market. In 2020, the lender originated greater than $100 billion in residence loans, serving to greater than 84,000 homebuyers with purchases and greater than 209,000 householders refinance. The lender provides an end-to-end digital course of, however debtors may get in-person help at greater than 200 branches throughout the U.S. The lender claims it may well beat trade common closing occasions by 50 p.c. In October of 2021, the lender expanded past serving to you discover a mortgage with a brand new Grand Slam bundle (a nod to its sponsorship because the official mortgage supplier of Main League Baseball). In case you use a matched actual property agent, safe your private home mortgage with LoanDepot and select its title and householders insurance coverage companies, you’ll be eligible for as much as $7,000 again at closing a digital residence safety system and another perks.

Breakdown of LoanDepot overview rating

  • Affordability: 14.75/15
  • Availability: 14/15
  • Borrower expertise: 10/10

Professionals and cons

  • Waives charges for current clients who refinance
  • Gives a completely digital course of from software to shut
  • Greater than 200 branches throughout the nation
  • Charges and charges not obtainable on-line
  • No USDA loans

Good for 

Debtors who desire a digital mortgage expertise with the choice to hunt in-person help at greater than 200 places throughout the U.S.


LoanDepot is accredited by the Higher Enterprise Bureau with an A+ score. Based mostly on greater than 3,400 buyer opinions on Trustpilot, the lender scores a 3.6 out of 5 stars. When it comes to originating loans, LoanDepot scored 844 out of a 1,000-point index (12 factors under the trade common) in J.D. Energy’s most up-to-date buyer satisfaction rankings. Debtors are extra happy with the lender’s method to servicing mortgages: It completed eighth in J.D. Energy’s 2021 buyer satisfaction research, scoring 18 factors above the trade common.

Refinancing with LoanDepot

You’ll be able to refinance your current mortgage with LoanDepot. The lender provides a Lifetime Assure program: Finance one mortgage with the corporate, and it’ll by no means cost you a charge for an additional refinance on the identical property. Plus, you’ll get your appraisal charge reimbursed. In case you’re a brand new buyer, you’ll have to ask a mortgage officer about refinance charges and prices, as they don’t seem to be listed on-line.

Overview methodology 

To find out a mortgage lender’s SimpleScore, The Easy Greenback’s editorial crew charges lenders on a scale of 1 to 5 stars based mostly on quite a lot of components referring to the lender’s services. The Easy Greenback’s companions compensate us, however our opinions are our personal, and accomplice relationships don’t affect our opinions. Right here is our full methodology.

Click on right here to learn the remainder of LoanDepot’s shopper opinions.



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