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loanDepot

in Mortgage Refinance

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loanDepot

Claimed

in Mortgage Refinance

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Overview

Where does loanDepot do business?

loanDepot is a direct lender based in Foothill Ranch, CA. The company was founded in 2010 and offers mortgage refinancing to borrowers in 50 states across the USA (and Washington, DC). NMLS #174457

What range of mortgage balances will loanDepot refinance?

Mortgage refinancing loans start at $60,000 and go up to $2,000,000

What is the maximum loan term for a mortgage refinance via loanDepot?

The term of a mortgage refinance will determine the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. loanDepot offers mortgages refinancing with terms ranging from 10 to 40 years.

What is the estimated funding time for a mortgage refinance with loanDepot?

loanDepot will typically fund mortgage refinances within 3 days of approval.

Does loanDepot charge a mortgage origination fee?

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 does loanDepot offer?

loanDepot offers the following mortgage types:

  • Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
  • FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • HARP: A mortgage refinance program for home loans owned or backed by Fannie Mae or Freddie Mac. No minimum credit score or value appraisal required.
  • VA: 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.

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
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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.

Other Services by loanDepot

Availability

Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • 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
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Prepayment Fee
Late Fee After (number of days)
15
Late Fee Amount
$15
Origination Fee
1% - 5%
Minimum Age
18
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Self-Employed
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Joint Loan Applications Accepted
  • Only Individual Applications
Property Type
  • Manufactured/Mobile Home
  • Multi-Family Home
  • Single Family Home
  • Townhome
Verification Documents Required
  • Government Issued Photo ID
  • Proof of Income
  • Recent Pay Stubs
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Loan Amount
$60K - $2M
$0 $100M
Loan Term (Years)
10 - 40
3 40
APR
Starting at
3.748%

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