loanDepot Home Mortgage
loanDepot Home Mortgage
in Home Mortgage Loans from loanDepot · NMLS ID #174457

loanDepot Home Mortgage

in Home Mortgage Loans from loanDepot · NMLS ID #174457
SuperMoney Net Recommendation Score +19  


This product is mostly recommended by SuperMoney users with a score of +19, equating to 3.4 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Community Rating Mostly recommended
Loan Amount $85,000 - $3,000,000
Loan Term (Years) 10 - 40 years
Credit Score Range 600 - 850
No Origination Fee N/A
Number of Reviews 27

loanDepot Home Mortgage Review

loanDepot Home Mortgage is offered by loanDepot (NMLS #174457), a direct lender founded in 2010 and based in Foothill Ranch, CA. loanDepot are available in 50 states (and Washington, DC).

Key Takeaways

  • 4 different 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.
  • Considers personal use and investment properties. 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. Don't forget that these fees are deducted from the loan amount, so take them into account when deciding how much money to borrow.
  • 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

Pros Cons
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • Offers financing for single family, multi-family, and manufactured homes.
  • Available in all 50 states.
  • Charges an origination fee of up to 5% of the loan amount.

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 ($726,000 as of 2023).
  • VA loans: A zero down payment mortgage or a refinance of up to 120% 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

How do people rate the customer service and user experience?

Overall, this business credit card 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

loanDepot, America's lender, matches borrowers through technology and high-touch customer care with the credit they need to fuel their lives. As a fast-growing national consumer lender, the loanDepot platform is disrupting finance by dissolving the lines between mortgage and nonmortgage credit.

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.


  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Washington, DC
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Late Fee Amount $15
Late Fee Grace Period 15 days
No Prepayment Fee
Origination Fee (%) 1% - 5%
Credit Score Range 600 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Other
Intended Use
  • Primary Home
  • Secondary Home
  • Investment
Joint Loan Applications Accepted
  • Individual Applications
Maximum LTV 80%
Minimum Age 18
Minimum Down Payment 3.5% - 10%
Property Type
  • Single Family Home
  • Townhome
  • Multi-Family Home
  • Manufactured/Mobile Home
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Government Issued Photo ID
Primary Residence
Loan Amount $85,000 - $3,000,000
Loan Term 10 - 40 years
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
Mortgage Programs
  • FHA
  • FHA 203k
  • VA
  • Jumbo

loanDepot Home Mortgage Community Reviews


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This product is mostly recommended by SuperMoney users with a score of +19, equating to 3.4 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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