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LoanDepot: Home Mortgage Loan Reviews, Customer Ratings, Scam Report

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LoanDepot is a large national mortgage banker based in Southern California's Foothill Ranch. Its founder, Anthony Hsieh founded two prior successful mortgage operations which he later sold to E*Trade and LendingTree. Hsieh founded LoanDepot in 2010, and the company's business model relies primarily on working directly with consumers over the Internet. Since its founding, LoanDepot has funded over $100 billion loans.

LoanDepot's business model is simple – the company advertises its services on rate comparison websites such as RateZip.com, where consumers are able to compare offers from multiple mortgage lenders. Many times, LoanDepot discloses the rate that it can offer a borrower up front. An interested borrower then reaches out to LoanDepot and begins the process of applying for a loan. Although it's unlikely that you'll be able to meet your loan officer in person before closing your mortgage or refinance, you can easily verify LoanDepot's credentials via the Better Business Bureau (BBB) or through reading the types of reviews that you'll find here.

LoanDepot offers a wide array of products, including 15 and 30 year fixed rate mortgages, ARMs, and VA home loans. In 2012, LoanDepot officially became a licensed mortgage lender in all 50 states

This bank profile is not an endorsement or advertisement for the bank's products and services.  RateZip is an independent publisher of bank information.

AVERAGE CUSTOMER RATING

3.3 out of 5 Stars

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LoanDepot Refinance & Purchase Loans

ProductRateApr
30yr Fixed4.99%5.227%
15yr Fixed4.375%4.778%

Rates updated 06/18/2018 19:48 PM CDT. Rates are verified at the time of collection from public sources, and are subject to change at any time.

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LoanDepot CD Rates

Rates updated 06/18/2018 19:48 PM CDT. Rates are verified at the time of collection from public sources, and are subject to change at any time.

LoanDepot Savings Rates

ProductMinimum DepositApy
SavingsGet RatesGet Rates

Rates updated 06/18/2018 19:48 PM CDT. Rates are verified at the time of collection from public sources, and are subject to change at any time.

CUSTOMER REVIEWS AND RATINGS


3 replies to “LoanDepot

  1. MichaelC Jul 28, 2013

    I had an excellent experience with Loan Depot. I contacted them online and received a telephone call within an hour. I had a positive experience throughout the process and am highly satisfied. I have good credit, and a solid down payment which might have influenced my experience, but I still think they were exceptional.

  2. Eunice Jul 29, 2013

    When my husband and I were shopping to refinance our home, we ended up on one of those rate shopping websites (unfortunately not Ratezip :(. Somehow we came across Loan Depot who had a rate that seemed just too good to be true. Well kids, let me tell you that was a mistake! Never have I been so frustrated in my life. Even though the rate that was advertised was great, the rate we were actually offered was ridiculous. Stay away!

  3. Refinancer Mar 16, 2017

    I was worried about refinancing my home, but working with LoanDepot has been great. They were able to help me through mostly everything, and they even contact you when rates go down! They’re a great option to go to if you’re trying to save money.

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Top LoanDepot Loan Officers

Baret Kechian

Baret Kechian

LoanDepot - Branch Manager - NMLS# 9411

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