Advertiser disclosure. LoanDepot Review 2020. A free inside look at company reviews and salaries posted anonymously by employees. You can also read our community reviews and hear what others have to say about their experience with loanDepot. $212B. If so, … loanDepot is located at 407 Atlantic Ave, Brooklyn, NY 11217, USA. It is reportedly the second largest non-bank provider of direct-to-consumer loans in the United States.. History. Some customers found the rates, service and processing to be much better than similar companies. Looks like you're using new Reddit on an old browser. Information is provided by the mortgage lender. However, if you can not qualify for anything else, you can get a secure credit card at any time. The service was awful and I had to follow up constantly to keep my application going, but the rate was unbeatable. Looking to refinance our mortgage of 540,000. Quicken made same offer - same interest rate, etc., but with +4k in loan size to wrap their 4k fee into the loan. 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. On the plus side, loanDepot recently revamped its website, making it easy to handle the entire application process online. Fair point, it just surprised me for it to be under 3.5%. We have excellent credit and live in Boston. Product Name: Loan Depot. 59. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. Looking at reviews for LoanDepot? It took over 90 days to close - not because of the complexity of my personal finances. Power 2019 U.S. Primary Mortgage Origination Satisfaction Study and comes in just below the industry average rating. 30 year fixed is what we're looking into. Voice your opinion today and hear what 2568 customers have already said. They are the worst They are the worst! Anyway, be prepared for it to be more difficult than a more customer-oriented firm, but absolutely worth it for that savings. Press J to jump to the feed. LoanDepot reviews. Hal M. Bundrick, CFP September 21, 2020. Loan Options. Do you agree with loanDepot’s 4-star rating? 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. Check out what 2,568 people have written so far, and share your own experience. Learn all before getting it. LoanDepot has been busy since our first review of its services in 2016. Read 1 more review about loanDepot Only the latest review will count in the company's TrustScore Tomas 1 review. Is there some aspect of their loan that is a gotcha? Close. LoanDepot is rated three out of five in the J.D. You need to read the contract with a lawyer. Total funded loans. No idea about that company specifically, but I got my mortgage through a similar discount broker. LoanDepot Review. … A free inside look at company reviews and salaries posted anonymously by employees. Not sure whether to trust loan depot or not. LoanDepot, sometimes stylized as loanDepot, is a Foothill Ranch, California-based holding company which sells mortgage and non-mortgage lending products. LoanDepot is a great company that focuses on technology and the customer. Years in the industry. 10. Sounds almost too good to be true. I gave them the benefit of the doubt and attempted to refi with them again this year. loanDepot mortgage loans has received mixed reviews in terms of customer service. LoanDepot was founded in 2010 by entrepreneur Anthony Hsieh, who had previously founded mortgage companies LoansDirect.com … Days average closing time. But you need a good loan – it will earn a yearly commitment. I've never had a better experience with another provider. Are you thinking about purchasing a new home? They don't put their rates on their site so I had assumed they wouldn't be great. 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. Is there more to the offer we're not seeing? loanDepot was founded in 2010 and is based in Foothill Ranch, CA. loanDepot also has over 1,700 licensed lending offices across the country. loanDepot Review- Competitive Mortgage Rates and Quick Service. Please feel free to reach out to our team if you ever need assistance. Why would anyone choose that option?? Adjustable Rate Mortgage Terms: 10/1 ARM. Debt Consolidation Loan . I've never had a better experience with another provider. 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. For more information, please see our Advertising Policy. Since loanDepot’s main business consists of home-related loans, we couldn’t find any loanDepot reviews for the lender’s personal loan product. 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. 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. Good for: borrowers looking to refinance or who want to start the application process online. US. We have excellent credit and live in Boston. 1,071 loanDepot reviews. I worked their for 5 years and enjoyed every year with them. They compensate their employees very well in exchange for the hard work put in. I currently have an application with a local bank with a rate lock of 3.5% with about 3 to 4k closing costs. Review: loanDepot Mortgage. Edit: based on the review, how many points do you have to buy down to get the rate they’re offering? 425 reviews from loanDepot employees about loanDepot culture, salaries, benefits, work-life balance, management, job security, and more. Here’s how we make money. Refinance Took F-o-r-e-v-e-r. BBB accredited since 11/4/2014. A variety of loans are available to search, including hard-to-find 10- and 20-year fixed loans. You can contact loanDepot by dialing (646) 586-5608 or visit their website loandepot.com before filing a lawsuit. I have used Loan Depot to close a home loan, their employees seemed competent enough. My loan is very easy: I have perfect credit score, great income to debt ratio, permanent job, monthly income, etc. Then the lending officers disappeared. 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. There are mixed reviews online regarding LoanDepot.com’s business practices. I should have read LoanDepot reviews… I should have read LoanDepot reviews before agreeing to refinance a loan with them. Do you agree with loanDepot's TrustScore? Join our community, read the PF Wiki, and get on top of your finances! 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. Updated November 7, 2020 • 5 min read. Conventional. Read 5 more reviews about loanDepot Only the latest review will count in the company's TrustScore Nicole Nunez 1 review. Looking to refinance our mortgage of 540,000. We are thrilled the loanDepot team led by Jay and Chris were able to make this a positive experience. Average rates seemed to be around 3.75% so 3.5% I considered pretty good. Still, there were other customers who were highly dissatisfied and regretted applying for a loan through LoanDepot. We are no way affiliated with better business bureau or yelp reviews platform. I'm not getting the "amazing deal" vibes you're suggesting. 7/1 ARM. Press question mark to learn the rest of the keyboard shortcuts. Cash-out. etc. So, if you want to get a home loan after you get bankrupt, it’s possible. Rob 1 review. loanDepot Review. Continue this thread level 1. Cookies help us deliver our Services. LoanDepot Personal Loan No debt or penalty will be paid to the debtor on the basis of the cost of replacement debt. Is it worth it or not? Whenever you are in a tough financial situation then you might think of Personal loans that are the only solution. Read 5 more reviews about loanDepot Only the latest review will count in the company's TrustScore Nicole Nunez 1 review. Loans in Foothill Ranch, CA. loanDepot Mortgage Review for 2020. By using our Services or clicking I agree, you agree to our use of cookies. I thought a 45 day lock would be sufficient. Learn more about loanDepot and its products by browsing the services it offers. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. Many customers love this model, but as with any lender, there are pros and cons. See BBB rating, reviews, complaints, request a quote & more. LoanDepot has made its name in tech-first mortgage lending and refinance. How much do they charge? They’re eligible to do business in any state, plus they place high importance on customer service. 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. NMLS ID# 174457. Founder Name: Anthony Hseih. 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. Overall lender rating. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. 30 year fixed is what we're looking into. loanDepot Personal Loan Products . 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. From your description, the rate varies by an 1/8 of a point. Learn more about this and other mortgage lenders at Bankrate.com. I refinanced with them a little over a year ago and they constantly missed appointments and it took forever. Here’s Nerdwallet’s review: https://www.nerdwallet.com/reviews/mortgages/loandepot-mortgage-loans. Here's the company's BBB page (cue "BBB is useless comments", ignore those). 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. 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