Is loanDepot Home Equity Lines of Credit the right fit for you?

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Last Updated: 09/23/2026

loanDepot Home Equity Lines of Credit

from loanDepot

Last Updated: 09/23/2026

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Mostly recommended17 total votes

10 users recommend

4 users are unsure

3 users don't recommend

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Highlights

Community Rating

Mostly recommended

Credit Score Range

640 - 850

Amount Range

$35,000 - $250,000

Maximum LTV

90%

Minimum Draw

N/A

Loan Term (Years)

10 - 30

Number of Reviews

loanDepot Home Equity Lines of Credit Review

loanDepot Home Equity Lines of Credit is offered by loanDepot (NMLS #174457), a direct lender founded in 2010 and based in Irvine, CA. loanDepot are available in 48 states and Washington, DC.

Key Takeaways

Fair credit accepted. Borrowers with a credit score as low as 640 may qualify for loanDepot Home Equity Lines of Credit.
Only primary residences considered. loanDepot Home Equity Lines of Credit does not offer financing for vacation homes or investment properties.
Fast process. In some cases you can close on your home loan within 2 business days.
Origination fees of 1% to 5%. This is on the high end for lenders on SuperMoney's database.
High maximum LTV ratio. loanDepot Home Equity Lines of Credit has a maximum loan to value ratio of 90%.

loanDepot Home Equity Lines of Credit Pros & Cons

Pros

Cons

No prepayment penalty.
Considers applicants with fair credit.
Available in 48 states.

Charges an origination fee of up to 5% of the loan amount.
No co-sign option available.

loanDepot Home Equity Lines of Credit FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit secured by your home. Once approved, you can access funds by check, phone, credit card, or online up to your credit limit.

Borrowers can apply for lines of credit of up to $250,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.

The maximum loan-to-value (LTV) ratio goes up to 90%. This means total debt secured by the property cannot exceed this percentage of its value. For example, on a $100,000 home with a $20,000 mortgage balance, you may qualify for up to $70k in credit.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What is the estimated funding time for a HELOC?

The HELOC through loanDepot can fund in as few as 2 days after approval.

What fees does loanDepot charge for a HELOC?

loanDepot Home Equity Lines of Credit may charge an origination fee. 1% to 5% of the loan amount.

What types of property can you use as security for a HELOC with loanDepot?

loanDepot may consider HELOCs secured by the following property types:

Primary residences

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message from loanDepot

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Contact

Headquarters

6561 Irvine Center Dr

Irvine, CA 92618

(888) 983-3240

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Hours of Operation

SundayClosedMonday8:00AM - 10:00PMTuesday8:00AM - 10:00PMWednesday8:00AM - 10:00PMThursday8:00AM - 10:00PMFriday8:00AM - 10:00PMSaturday11:00AM - 6:00PM

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Availability

Available in 48 states and Washington, D.C.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming

SuperMoney Net Recommendation Score

SuperMoney users mostly recommend this product, giving it a user recommendation score of +41, or 3.8 on a 5-point rating scale.

+41

-1000+100

No one recommends

Everyone recommends

The recommendation score reflects customer satisfaction with a provider. A score of +100 means every customer recommends the provider, while -100 means none of them do. These scores are based entirely on community member votes and are not influenced by partner compensation. SuperMoney removes fake reviews when detected.

Reviewer Sentiment Over Time

loanDepot Home Equity Lines of Credit Community Reviews

Would you recommend loanDepot Home Equity Lines of Credit to your friends?

Maik B.

Sep 21, 2026

Would Recommend

I like that loanDepot offers up to $250,000 and allows a high LTV of 90%. The process also seems faster than what I expected for a HELOC.

Ireen S.

Sep 21, 2026

May or may not recommend

loanDepot has a decent HELOC option with flexible borrowing amounts. However, the 1% to 5% origination fee is something I would consider carefully.

Timothy S.

Sep 20, 2026

Would Recommend

The application process was pretty straightforward, and I liked that they accept credit scores starting at 640. The no-prepayment-penalty feature is also a nice bonus.

Mateo R.

Sep 20, 2026

Would Recommend

I appreciate that loanDepot doesn't require perfect credit for someone to potentially qualify. A minimum credit score of 640 makes the product more accessible to homeowners who may not have an excellent credit profile. The availability across 48 states is another practical advantage.

Isreal K.

Sep 20, 2026

Would not Recommend

I wasn't comfortable with the possibility of paying an origination fee as high as 5% of the amount borrowed. That can add up quickly, especially when taking a larger credit line. I would want to compare the total borrowing costs with other HELOC options before moving forward.

Sunny B.

Sep 20, 2026

Would Recommend

The amount range offered by loanDepot gives homeowners a reasonable amount of room depending on their equity and financial situation. I also found the 90% maximum LTV appealing because it can provide access to more of the equity built up in the home than some other options may allow.

Florence M.

Sep 20, 2026

May or may not recommend

There are several useful features here, particularly the lack of a minimum draw requirement and the relatively high maximum LTV. At the same time, I'd need to look closely at the overall costs and eligibility requirements before applying. It seems like an option worth comparing with other HELOC lenders.

Derrick S.

Sep 18, 2026

Would Recommend

I liked the flexibility of having a credit line available without being required to take out the full amount immediately. The fact that there is no minimum draw requirement makes it easier to borrow only what I actually need. That was an important factor for me when considering a HELOC.

Alonzo P.

Aug 28, 2026

Would Recommend

The loan amount range looks pretty reasonable for a HELOC. Being able to borrow up to $250,000 is a nice option.

Jose W.

Aug 28, 2026

Would not Recommend

The origination fee of up to 5% feels pretty high to me. I’d definitely shop around before choosing this HELOC.

Williams A.

Aug 28, 2026

May or may not recommend

loanDepot offers a decent borrowing range and a high LTV limit. I’d need to look more closely at the actual rate before deciding.

Amelia J.

Aug 27, 2026

Would Recommend

One thing that stood out to me about loanDepot was the potential for a quick closing. Having access to a HELOC without a minimum draw requirement also gives borrowers more flexibility because you don't necessarily have to use the entire credit line at once.

Avery S.

Aug 27, 2026

Would not Recommend

The biggest drawback for me is the potential origination fee, which can reach 5% of the loan amount. On a large HELOC, that could become a significant upfront expense. The fact that only primary residences are considered and there is no co-signer option also limits the product's flexibility for some borrowers.

Taylor R.

Aug 27, 2026

Would Recommend

The application process with loanDepot was straightforward, and I liked that they consider borrowers with credit scores starting around 640. The ability to access a relatively large credit line and the lack of a prepayment penalty were also appealing features.

Anonymous

Aug 26, 2026

Would Recommend

loanDepot gave me a great offer on my HELOC. Process was super easy. Definitely would recommend them.

Laura B.

Aug 25, 2026

May or may not recommend

The terms seem okay overall, but I’d want to compare the fees with other HELOC lenders first. The 1%–5% origination fee is something I’d consider carefully.

Michael S.

Aug 25, 2026

Would Recommend

The 640 credit score requirement caught my attention. I also like that there’s no prepayment penalty.

Showing 17 of 17 reviews