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LoanDepot Review

Compare multiple mortgage loan offers without signing up

Reviews 4,047
Reviews 4,047
Bestmoney Staff
Jun. 21, 2022
2 min read
BestMoney Staff
LoanDepot Summary
LoanDepot is the second largest mortgage lender in the US. With an A+ rating from the BBB and the ability to process loan applications both online and in-person in one of their 200+ locations nationwide, it's no surprise that LoanDepot has been a lender of choice for people looking to purchase or refinance their homes over the last decade.


  • Basic mortgage information is available without a signup
  • Viewing additional loan types is easy thanks to the simple layout


  • Difficult to find mortgage offers without various adjustments
  • Income statements are required for some loan information

LoanDepot at a glance

Editorial score

Customer Service and Support

Easy to work with

Variety of Loan Types

Purchase, Refinance, and Home Equity loans available


With multiple loan and rate calculators, and a variety of loan types and terms, LoanDepot offers homebuyers a portal to compare mortgage loan offers. You can access basic mortgage loan information without signing up for an account, and it’s easy to update your information and view additional loan offers in a simple and straightforward manner. A variety of loans are available to search, including hard-to-find 10- and 20-year fixed loans. 

Loan Features

LoanDepot offers conventional loans as well as FHA, Jumbo, and VA loans for qualifying borrowers in need of assistance. For exisiting homeowners, LoanDepot offers typical refinance as well as cash-out refinance options. 

Unique in its class of lenders, LoanDepot offers a Lifetime Guarantee to borrowers who finance their initial loan through LoanDepot. Qualifying homeowners will be able to process any future refinances without any accompanying fees. The company is also known for its rapid closing times, which is a serious asset if you’re looking to get into your new home as quickly as possible. 


  • Choose from fixed and adjustable rate mortgage loan offers
  • Mortgage calculators let you crunch numbers and budget
  • Schedule an appointment or chat live with a customer service rep 

Loan Terms

You can search for options, including 30-, 20-, 15- and 10-year fixed. You can also search for 10/1, 7/1, 5/1 and 3/1 ARM mortgages. Your results will vary depending on your information, but you can find 10- and 20-year terms.

There is a range of APR offers available. LoanDepot offers as low as 2.95% and as high as 4.056%. The lower APRs were mostly limited to the 5/1 ARM offers. Unfortunately, adjustable rate mortgages aren’t ideal for every home buyer. Interest rates are consistently lower than APRs, sometimes by a wide margin. There are interest rates as low as 2.25% for adjustable rate mortgages and as low as 3.25% for fixed rate mortgages. There is a downside, though. People are only offered these rates with a credit score of 700 or above. As you dip below 700, the rates rise rapidly. If your credit score is around 650, you’re more likely to find rates in the 4% range.

Repayment Terms

You can expect your monthly payments to be about average compared with other lenders. Using the  wide range of parameters into the company’s Rate Quote form, you can expect to see numbers that are consistent with a wide range of other lenders. For example, if you lock in a 30-year fixed loan for a $300,000 home and you have a credit score of 690, you can find monthly payments as low as $898 per month. The site also has a handy Mortgage Purchase Calculator that provides further perspective on what you can expect to pay. 

So, Should you Borrow with LoanDepot? 

LoanDepot offers a range of term options and the ease with which you can review and compare information. You are limited, however, in the number of available options afforded to you, and the company is insistent upon phone correspondence after you move past the rate estimator. Look forward to some additional haggling before you secure your loan.

Physical Address

26642 Towne Centre Drive, 

Foothill Ranch, CA 92610


BestMoney Staff
Written by
Bestmoney Staff
Our editorial staff consists of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right provider for your needs.

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Trustpilot reviews
See what some customers are saying about LoanDepot
Great • Reviews 4,047
We upload 100 to 400 Trustpilot reviews to our website daily, displaying them by default from "best" to "worst". You have the option to adjust the sorting criteria. If you wish to see all reviews, you can visit Trustpilot's website here.
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Andrew Jay
4 weeks ago
Great ppl to work with. They recently had a system issue with secure portal but the account team has been in continous touch ensuring everything went well as planned.
Overall the team I was assigned Ryan Smith, Irina did a fantastic job with accurate timelines
1 month ago
Great Experience with knowledgeable professionals
Nate Ferrer and Christine Duong went above and beyond to help me get approved and funded. They both were very professional and knowledgeable. They have fantastic customer service skills and made me feel comfortable every step of the way through this experience. Thank you both !!! I will definitely use your company again!
Tim Smith
2 months ago
Nate Ferrer - Licensed Lending Officer
Nate Ferrer was extremely helpful in making me feel at ease with the HELOC loan. I have been thinking about this for a number of years. As soon as I sought information on a HELOC through Loan Depot, Nate was the first to contact me. He was sincere, knowledgeable and made me feel comfortable in going with Loan Depot. Nate then got the process going as soon as I was ready to make the move. The HELOC funded in 15 days, Highly Recommend and two thumbs up!
Steve Wadle
2 months ago
Processing agent was stellar
Processing agent was stellar and I was kept apprised throughout the application and approval process.
Beverly Oh
2 months ago
Nate Ferrer was great!
Nate Ferrer was great! He communicated with me in a timely manner and answered all my questions regarding my HELOC. The loan process was simple and the required paperwork was limited and easy to complete. I highly recommend Loan Depot.