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Last Updated: 08/13/2025

loanDepot Home Equity Loans

from loanDepot

Last Updated: 08/13/2025

Rating not yet determined2 total votes

2 users recommend

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Highlights

Credit Score Range

640 - 850

Amount Range

$35,000 - $250,000

Maximum LTV

90%

Loan Term (Years)

10 - 30

loanDepot Home Equity Loans Review

loanDepot Home Equity Loans 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

Only primary residences considered. loanDepot Home Equity Loans 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 Loans has a maximum loan to value ratio of 90%.
Fair credit accepted. Borrowers with a credit score as low as 640 may qualify for loanDepot Home Equity Loans.

loanDepot Home Equity Loans 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 Loans FAQ

How much can you borrow with a loanDepot Home Equity Loans home equity loan?

A home equity loan allows homeowners to borrow money using their home as collateral (similar to a mortgage). Loan amounts vary depending on the value of the home minus the balance of any mortgages or liens on the property.

loanDepot Home Equity Loans allows borrowers to apply for home equity loans of up to $250,000. The actual maximum loan amount will vary depending on the value of the property, how much you owe on it, and your creditworthiness.

What are the home equity loan requirements of loanDepot Home Equity Loans

This lender's maximum loan to value rate is 90%. That means the total debt secured by the property cannot exceed 90% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have good credit, you may qualify for a line of credit of up to $70k.

Generally, the APRs of home equity loans do not include points and financing charges, just the interest rate.

What is the estimated funding time for a home loan via loanDepot Home Equity Loans?

loanDepot Home Equity Loans will typically fund home equity loans within 2 to 3 days of approval.

What fees does loanDepot Home Equity Loans charge for a home equity loan?

loanDepot Home Equity Loans may charge a loan origination fee of 1% to 5% of the loan amount.

What types of property can you use as security for a home equity loan with loanDepot Home Equity Loans?

Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. loanDepot Home Equity Loans will consider loans secured by the following property types:

Primary home.

Is loanDepot a legit company?

loanDepot was founded in 2010, it is a well-established company that has been in business for 16 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

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

At loanDepot, we never stop looking for opportunities to provide our borrowers with the products they need to make their financial dreams a reality. loanDepot offers fixed-rate home equity loans with repayment terms up to 15 years. For more information, speak with a licensed loan officer today.

Contact

Headquarters

6561 Irvine Center Dr

Irvine, CA 92618

(888) 983-3240

Visit Site

Email Support

Hours of Operation

Sunday

Closed

Monday

8:00AM - 10:00PM

Tuesday

8:00AM - 10:00PM

Wednesday

8:00AM - 10:00PM

Thursday

8:00AM - 10:00PM

Friday

8:00AM - 10:00PM

Saturday

11:00AM - 6:00PM

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SuperMoney Net Recommendation Score

Not enough SuperMoney users have reviewed this product to provide a recommendation score or rating.

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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.

loanDepot Home Equity Loans Community Reviews

Would you recommend loanDepot Home Equity Loans to your friends?

Diego J.

Mar 1, 2025

May or may not recommend

SuperMoney has been a financial services comparison platform that allows we the users to evaluate various financial products, including loans, credit cards, and mortgages. The platform provides a user-friendly interface and comprehensive information to assist consumers in making informed decisions.

Patrick H.

Oct 22, 2020

May or may not recommend

LoanDepot was very great and easy to work with- they were quick, responsive, and closed on-time, which is very rare in the current mortgage environment. They were also very relaxed and they were happy to answer all my questions during my first home-buying experience. I must say I really appreciate the personal service that I have received from my Loan Depot loan officer. He has worked with me to lower my ...Show More

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