4.9
924 reviews
Other Mortgage Lenders:
  • Average: 4.5
  • High: 5.0
loanDepot

Read 924 Reviews

REVIEW SNAPSHOT®

by PowerReviews
loanDepot
 
4.9

(based on 939 reviews)

Ratings Distribution

  • 5 Stars

     

    (847)

  • 4 Stars

     

    (80)

  • 3 Stars

     

    (5)

  • 2 Stars

     

    (4)

  • 1 Stars

     

    (3)

99%

of respondents would recommend this to a friend.

Pros

No Pros

Cons

No Cons

Best Uses

No Best Uses
    • Customer Service:
    •  
    • Types/Options:
    •  
    • Affiliation:
    • I received a sample (321), I am an employee or otherwise affiliated with the brand (45)

Most Liked Positive Review

 

loanDepot was Fast & Easy

Lowered my payment and my term from 19 years (left on a 30 year fixed) to a 15 year fixed! Actually saved $50 a months and shaved off 4 years. Their follow-up was...Read complete review

Lowered my payment and my term from 19 years (left on a 30 year fixed) to a 15 year fixed! Actually saved $50 a months and shaved off 4 years. Their follow-up was excellent, their mortgage bankers knew their products and the process. Signed papers at my office. Just fast and easy.

VS

Most Liked Negative Review

 

Bad Refi Experience

The people I dealt with directly were very friendly and great, but unfortunately the company, Loan Depot, was a colossal disappointment. I refi'd both my personal residence and a rental property a couple...Read complete review

The people I dealt with directly were very friendly and great, but unfortunately the company, Loan Depot, was a colossal disappointment. I refi'd both my personal residence and a rental property a couple years ago, and since rates dropped, I approached Loan Depot again last September to do the free "re-do" loans that they promised. It was a complete failure. The process was dragged out so long with my principal residence that the rate lock agreement expired and Loan Depot refused to honor the terms they promised me back in September, so we could not extend the rate lock and I lost the opportunity to do the refi. Although I responded on an incredibly timely basis with all their requests, usually within a few hours, they delayed at every opportunity to the point where it seemed they purposely wanted the rate lock to expire. On the rental property, I experienced the same long delays, but was fortunately able to get the rate lock extension simply because this deal had more profit margin for Loan Depot, and therefore less incentive for Loan Depot to want it to fall through. Nonetheless, it still took 4 MONTHS to finish this loan. BOTH of these loans were simple refi's where Loan Depot did the same exact work a couple years ago. It should've been a simple matter of updating all the appraisals and documents from back then, as absolutely nothing had changed in my financial holdings since those first refi's. I am thoroughly disappointed in Loan Depot and will NEVER work with this company again, for at best, they were incompetent and at worst, unethical.

Reviewed by 939 customers

Displaying reviews 1-10

Back to top

Previous | Next »

 
1.0

Bad Refi Experience

By 

from Ventura County, CA

Comments about loanDepot:

The people I dealt with directly were very friendly and great, but unfortunately the company, Loan Depot, was a colossal disappointment. I refi'd both my personal residence and a rental property a couple years ago, and since rates dropped, I approached Loan Depot again last September to do the free "re-do" loans that they promised. It was a complete failure. The process was dragged out so long with my principal residence that the rate lock agreement expired and Loan Depot refused to honor the terms they promised me back in September, so we could not extend the rate lock and I lost the opportunity to do the refi. Although I responded on an incredibly timely basis with all their requests, usually within a few hours, they delayed at every opportunity to the point where it seemed they purposely wanted the rate lock to expire. On the rental property, I experienced the same long delays, but was fortunately able to get the rate lock extension simply because this deal had more profit margin for Loan Depot, and therefore less incentive for Loan Depot to want it to fall through. Nonetheless, it still took 4 MONTHS to finish this loan. BOTH of these loans were simple refi's where Loan Depot did the same exact work a couple years ago. It should've been a simple matter of updating all the appraisals and documents from back then, as absolutely nothing had changed in my financial holdings since those first refi's. I am thoroughly disappointed in Loan Depot and will NEVER work with this company again, for at best, they were incompetent and at worst, unethical.

(1 of 1 customers found this review helpful)

 
2.0

Got the job done, but extremely slow at it.

By 

from Idaho

Comments about loanDepot:

Refinance my house through this company. This is the third re-fi on this property and this loan took about two months longer than using the other two mortgage companies. The loan officer was excellent, the Sr. Account Manager was slow and disorganized (horribly). I would get asked for information and provide it same day. Two weeks later, more info needed and provided the same day, then two weeks later...well you get the picture. There is no way I would use them again, nor could I recommend them. Two stars is a gift for finally getting it done.

 
4.0

Refinance through LoanDepot

By 

from Queen Creek, AZ

Comments about loanDepot:

I refinanced through LoanDepot my existing mortgage loan. It took more than 3 months to close loan. They gave lender credits and paid part of appraisal fee. Overall it is good.

  • Affiliation:
  • I received a sample
 
5.0

A satisfied customer

By 

from Winder, GA

Comments about loanDepot:

I've never had to apply for a loan before in the past, and my loan representative made it easy and comfortable for me to get this product. Steve answered all of my questions that I had.

  • Affiliation:
  • I received a sample
 
5.0

A good experience.

By 

from Northern AZ

Comments about loanDepot:

The application process for me didn't pose any surprises and everything went very smoothly, considering how confusing this process has been at other times with other companies.

 
5.0

Great Team Work!

By 

from Asheville, NC

Comments about loanDepot:

The Loan Depot team that I worked with were all top notch professionals. I started out working w/ Michael Michitti, who after speaking with him I really felt i could discontinue all other investigation into rates and such. When Michael had received my information, He seamlessly transferred my to his associate, Chelsea Blair, who was my liaison in / with the loan processing phase of the process. Along the line somewhere we ran into a wrinkle, and I really did not understand what the further requirement that I was being asked to provide, consisted of. I got a call from Kyle Franklin. He really saved the deal. I already had the information, but had not sent it in. After a brief conversation on the phone, and a fax sent, I was assured that "most probably" there would be a positive outcome. Truly a team that worked together to get the deal done.

  • Affiliation:
  • I received a sample
 
5.0

Refinance

By 

from Trumbull, CT

Comments about loanDepot:

This was my first time working with loandepot. I had randomly received a call when I sent an inquiry out for refinancing after having a terrible experience with another lender. Bryan Hitchcock and Jessica Stephens helped me with the refinancing and it was breeze working with them. We closed in in a month from the time I first started talking to them. Exceptional service always available to answer my calls and emails. I am looking to working with them again when we decide to refinance again. Highly recommend them.

 
5.0

Loan Depot with Rob Roy and Thesalee Tueres - Great Job!

By 

from San Diego, CA

Comments about loanDepot:

Rob Roy and Thesalee Tueres, walked me through my refinance. Other lenders took me thru the ringer, but they got me the best rates, and qualified me for the most amount including cash out. I will recommend them to all my friends and family. They were always available and answered all my questions immediately. They kept me informed through the whole process.
Great Job! Thanks So much!

  • Affiliation:
  • I received a sample
 
5.0

Truly painless refinance...

By 

from San Anselmo, CA

Comments about loanDepot:

I just completed a refinance project with Loan Depot. Their 30-year fixed loan interest rate just couldn't be beat. It was not a simple refi. I had to pay down some principal, so I could get under the "jumbo loan" line (and lower interest rate). The folks at the Loan Depot were cooperative, knowledgeable and professional. They guided me every step of the way... Lucky for me... By the time we finished, the interest rate was substantially higher, but they stood by their original quote.

  • Affiliation:
  • I am an employee or otherwise affiliated with the brand
 
5.0

I would recommend Sean Farag and Cassandra Wyatt

By 

from Laguna Niguel, California

Comments about loanDepot:

I was going through the refi process with a different lender. At first everything was going smooth until I found out he didn't lock my rate when we began the process. When it came close to signing he tells me rates have gone up and so did my closing costs. I was furious. I called LoanDepot to get a quote. I was so impressed with Sean Farag's service and empathy to my story of what just happened. He explained to me locking rates is one of the first things they do at loandepot to help make sure the customer gets the rate they discuss. Not only did Sean get me the same rate he also saved me thousands of dollars in closing costs I was about to pay to the other lender. With Sean and Cassandra staying on top of my loan from beginning to end I would recommend their services to my family and friends in a heart beat. Cassandra's prompt and professional email exchanges made the whole process much easier. Our loan closed in 30 days and I could not be happier with the services I received from those 2!

Displaying reviews 1-10

Back to top

Previous | Next »