Last Updated: 07/03/2025
SuperMoney User Recommendation Score +19
Mostly recommended27 total votes
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Highlights
Community Rating
Mostly recommended
Credit Score Range
600 - 850
Amount Range
$85,000 - $3,000,000
Loan Term (Years)
10 - 40
Number of Reviews
loanDepot Home Mortgage Review
loanDepot Home Mortgage 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
- Wide selection of mortgage programs offered. loanDepot Home Mortgage offers FHA, FHA 203k, VA, jumbo, conforming, and conventional mortgages.
- Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
- Refinancing for large mortgages. You can refinance mortgages with balances of up to $3,000,000 with loanDepot Home Mortgage.
- Standard interest rates types. loanDepot Home Mortgage offers adjustable-rate mortgages and fixed-rate mortgages.
- Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental 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.
- Maximum LTV. loanDepot Home Mortgage has a maximum loan to value ratio of 80%.
- Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for loanDepot Home Mortgage.
- Long loan terms. loanDepot Home Mortgage offers mortgage terms of up to 40 years. Most mortgage refinancing loans have a maximum term of 30 years.
loanDepot Home Mortgage Pros & Cons
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loanDepot FAQ
How much can you borrow via loanDepot?
loanDepot allows borrowers to apply for loan amounts of up to $3,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.
What is the maximum loan term you can get with loanDepot?
loanDepot offers mortgages with terms ranging from 10 to 40 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What mortgage rates does loanDepot offer?
Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.
What is the estimated funding time?
loanDepot will typically fund mortgages within 2 and 3 days of approval.
Do they charge mortgage origination fees?
Yes, loanDepot may charge a loan origination fee of 1% to 5% of the loan amount .
Does loanDepot charge prepayment fees?
No, loanDepot does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.
What mortgage programs are available?
Besides conventional mortgages, loanDepot offers the following mortgage types:
- FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- FHA 203k: An FHA mortgage you can also use to finance home improvements.
- Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency.
- VA loans: A zero down payment mortgage or a refinance of up to 100% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.
What property usage types does loanDepot allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. loanDepot allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- Investment properties and house flipping projects
What is the customer service phone number?
The customer service number for loanDepot Home Mortgage is (888) 983-3240.
What is the support contact email?
The support contact email for is customercare@loandepot.com.
How do people rate the customer service and user experience?
Overall, this business is mostly recommended based on community reviews that rate customer service and user experience.
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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
Message from our editor
What We Love About loanDepot
loanDepot offers a variety of loan options, including home purchase loans, mortgage refinancing, and home equity loans. The company offers the option to apply online as well as over the phone with a quick and easy process. Some consumers will find that loanDepot is a great alternative to other lenders, especially those who prefer not to use a bank for funding.
What Could loanDepot Do Better?
At the present time, loanDepot doesn’t offer home equity lines of credit, which may make it less useful for some customers. It also has only average ratings in terms of customer service so relying on the agents may or may not provide you with what you need. loanDepot also has no guarantee of payment plans if you start to fall behind and there is no option to modify the loan’s payment date after it has been assigned.
loanDepot Backstory
loanDepot is a consumer lender that was founded in 2010 by Anthony Hseih. He and the management team have over 25 years of experience in the business and wanted to bring something new to the market. Since its launch, loanDepot has funded over $165 billion in loans, which makes it the fifth-largest retail mortgage originator and the second largest consumer lender that is not a bank.
This company offers home loans and mortgage refinancing in all 50 states and provides 180 affiliated loan stores for convenience. It has been a leader in the mortgage industry for many years and is worth considering for those who are or wish to be homeowners.
The Verdict
There are plenty of good things to say about loanDepot and its services. The company offers a non-bank option for mortgages and refinancing in all states and keeps an up to date and informative website. It works to offer competitive rates, terms, and fees compared to other options on the market.
It’s always a good idea to look at all your options before going with a single company for a home loan. While many may find that loanDepot meets their needs, knowing your other options may mean you get a better rate, customer service, or payment options.
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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Rating not yet determined (2 Reviews)
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users mostly recommend this product, giving it a user recommendation score of +19, or 3.4 on a 5-point rating scale.
+19
-1000+100
No one recommends
Everyone recommends
loanDepot Home Mortgage Community Reviews
Would you recommend loanDepot Home Mortgage to your friends?
MC
Mazhar C.
Nov 25, 2022
May or may not recommend
They provide a fast response and professional service, my family has many many loans of free house purchase, but i recommend this!
AG
Alexander G.
Nov 15, 2022
May or may not recommend
The main issue I feel LoanDepot has is in there underwriting process. Most Mortgage companies verify income and employment early in the mortgage loan application. This makes sense because a home purchase already has so many moving parts. Being held up by a application discrepancy can ruin a buyers transaction. LoanDepot will wait to the end of the loan application before verifying income and employment. Or at least this is ...Show More
JB
Jessica B.
Jul 19, 2022
May or may not recommend
After trying 3 other options first, LoanDepot worked with me to help me get preapproved. I'm now working on finishing all of my paperwork to buy our first home! I couldn't be more excited or grateful for this chance.
CR
Customer R.
Apr 17, 2022
May or may not recommend
I applied for a home loan, but I could not get one from any other mortgage company. loanDepot provided multiple loan options.
AW
Ajoke W.
Mar 28, 2022
May or may not recommend
They provide a fast response and professional service, my family has many many loans of free house purchase, but i recommend this!
MP
Monika P.
Mar 11, 2022
May or may not recommend
Loan depot Home mortgage provides Home loans. It offers loan to everybody like single or multi family. But u must have a good credit score to be able to qualify for the loan. It has fees of 5%
NL
Natalie L.
Mar 10, 2022
May or may not recommend
I was so excited to finally be approved for a house that I thought I would never be able to afford but wow was I wrong. It took so long that after a few days, they pulled funding because I followed the horrible advice of their agents. Continuous charges without accountability and it could get a whole lot worse. I hope this helps someone else make a better decision when ...Show More
PP
Presley P.
Mar 6, 2022
May or may not recommend
Great customer service, partnered with reputable brands, in top 10 list of home lending. Overall easy, smooth experience.
CA
Charity A.
Feb 24, 2022
May or may not recommend
Although they allow a decently low credit score, beware of the hidden fees. Other than that, I have experienced really quick and professional service. There are a lot of other companies though that I would rather recommend a little more than this company, due to the experience, and also rating. There are definitely a lot more options out there besides this one that could meet your needs.
TG
Trey G.
Dec 11, 2020
May or may not recommend
Beware of the fine print, they say. Loan Depot is full of hidden fees, for that sole reason I don’t recommend them. I strongly suggest before considering that you do a holistic research process.
Whilst I have had friends that have had a good experience with them (due to good credit), that isn’t the case for most.
I’d look elsewhere.
DO
Dahunsi O.
Nov 18, 2020
May or may not recommend
loanDepot Home Mortgage is especially great because you don't need an overly high FICO score to get access to mortgage facilities. With a score of 600, you can easily get in. That's much better than what most mortgage brokers offer.
KF
Kyle F.
Oct 30, 2020
May or may not recommend
I switched to load Depot after trying to refinance my home with two different banks. After going around and around with them. I knew I needed something better, and until I Switched Loans Depot and I was blessed and laced. Switching everything over was easy and they got it done in no time.
Esther O.
Oct 29, 2020
May or may not recommend
LoanDepot has so much hidden fees, Thor's hammer would not break through; so, you must ask all questions before you begin the process. Most times, the hidden fees will pop up when you are almost done with processing. After so much time wasted and money spent, it was disappointing to realize that I would be paying extra money to the manager-or whatever he calls himself.
I have people who have ...Show More
EE
Emmanuel E.
Oct 28, 2020
May or may not recommend
When I started with LoanDepot, I wasn't really flowing with their process, perhaps because it seems too quick, and all. However, I figured I was the one who needed to understand them properly to enjoy their services. And, yea, I think their professionalism is appreciable. My goals were met, and likewise, I learned a thing or two from their process. I recommend 6.5/10
JB
Jenni B.
Oct 26, 2020
May or may not recommend
LoanDepot Home Morgage made buying a home easy for my family and I. I was able to receive a reliable, quick loan in a matter a minute. The LoanDepot was fast and accurate at getting my family into a home we loved. I would recommend the ease of use again.
AS
Andrew S.
Oct 24, 2020
May or may not recommend
This is my second experience with Loan debit and so far I have no cause for alarm. They provide excellent customer service and attended to all the questions I had in mind. Thanks for everything
Sarah C.
Oct 8, 2020
May or may not recommend
I attempted to do business with LoanDepot whenever I was trying to refinance my home. Everything seemed like it was going smooth until we got closer to the end of the negotiation. There kept being fees that popped up and they ended up wanting to add a couple thousand dollars to the closing cost.
MJ
Maria J.
Sep 5, 2020
May or may not recommend
We were first referred to Loan Depot in January 2020. After filling out the contact form we were quickly contacted and given a pre-qualification letter to purchase a home. Being new home buyers we were unsure how the process was supposed to work, and we didn't stop to think that a pre-qualification turn around time of a few minutes without any personal information seemed strange. Low and behold, AFTER traveling ...Show More
SS
Scott S.
Jan 6, 2020
May or may not recommend
In December 2019 we used LoanDepot for two refinancing projects; one on our current home and one which was (and is) a rental property in Alexandria, VA. Because LoanDepot does not do HELOCs we were required to take out additional money with the refi of the rental and get a $200000 loan in order to get a competitive rate, even though we did not need nearly that amount for ...Show More
CS
Carl S.
Oct 22, 2019
May or may not recommend
The underwriting process was torture because the loan process manager was very incompetent and her piece meal fact finding cost us thousands $ and several delays in closing. Underwriting was Ridiculous she Made it worse
Showing 20 of 27 reviews
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