4.9
924 reviews
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loanDepot

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loanDepot
 
4.9

(based on 957 reviews)

Ratings Distribution

  • 5 Stars

     

    (860)

  • 4 Stars

     

    (81)

  • 3 Stars

     

    (5)

  • 2 Stars

     

    (5)

  • 1 Stars

     

    (6)

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 (329), I am an employee or otherwise affiliated with the brand (46)

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 957 customers

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5.0

I would highly recommend the service and professional.

By 

from Orlando, Florida

Comments about loanDepot:

I would highly recommend the service and professional that was rendered to my husband and I while refinance our home

  • Affiliation:
  • I received a sample
 
5.0

Exceeded my expectations!!!

By 

from Los Angeles, CA

Comments about loanDepot:

I called several lenders before finally calling loan depot and I can't say how happy I was that I did! All the other lenders were not able to present with refi options that were a lower rate than my present loan, nor a monthly payment that was lower...which was the main reason to do the refi. I was very discouraged. But the moment I spoke to Adam McCarty, he made me hopeful that loan Depot was able to achieve the goals that I needed. He was absolutely awesome at communicating all the details of the options and was very knowledgeable. My loan had some difficult aspects to it but Adam was able to make adjustments along the way to get what I needed done..my final refi resulted in a 30yr fixed rate where I was saving over $500 on my monthly payment! I would definitely do all my loans with Adam again! He was very personable and wonderful to work with. I would definitely recommended Adam McCarty (949) 609-6670 at loan Depot wholeheartedly!!!

 
5.0

A great company

By 

from Va

Comments about loanDepot:

Loan Depot is a great company My loan went smoothly and no real problem Kayla and Richie was great to me and they both walk me through my loan. I would used this company again

Thanks Robert Fitzgerald

  • Affiliation:
  • I received a sample
 
5.0

The Best customer service. Kudos Wally and Ben

By 

from Atlanta, GA

Comments about loanDepot:

I have nothing but praise for Loan Depot and for those who were involved with refinancing our mortgage. Especially Wally Ziadeh and Benjamin Willett - those guys are rock stars! We were skeptical about using an online mortgage company and have used the same brick and mortar bank for all of our prior mortgages and refi's. After much research we narrowed down to 3 online companies, based on the criteria I used to evaluate them, reviews, and ratings on the BBB site. I sent online requests to all three. Loan Depot contacted me within the hour. Wow! It was already dark where I'm located and I wasn't expecting a call back that quickly. By contrast, I didn't hear from one company I contacted until after the weekend, and the other took over a week to get back to me, then HUNG UP on me when I said we were already working with someone. But from the first conversation with Wally we felt confident we made the right decision going with Loan Depot. He answered our questions honestly, even when it was hard to hear. He never failed to return a phone call or email, and in an expedient manner. He earned our trust, as did Ben, once he was introduced into the process. They carefully assessed our options, which was not an easy task because we had some challenging circumstances, and preferred a conventional loan. But they worked diligently until finding a solution we could live with and one that would be accepted by the underwriter. In the next two years we hope to refi again from a 30 year to a 15 year loan. I hope Wally and Ben are still available when that time comes as they've set the bar very high with the professionalism and integrity they've shown. We would recommend Loan Depot, and particularly Wally and Ben, to anyone needing a new mortgage or to refinance an existing one.

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  • I received a sample
 
5.0

Excellent service from beginning to completion

By 

from Lowell MA

Comments about loanDepot:

Paul Olexa has been great from the beginning, listening, and then putting options in terms that we could understand and make decisions on. Very responsive too, always there, and always following up in a very timely manner -- and that's from day 1, when we first put the inquiry in online,no waiting, down to business,, very professional and friendly. When Nham Pham got involved to do his part, same thing.

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  • I received a sample
 
5.0

Outstanding Company helping the Elderly Homeowner!!!!!!!!!

By 

from Antioch, Tennessee

Comments about loanDepot:

I have never seen a Home refinance and Loan Company that had such outstanding personnel working for them!!!! I am 75 years old and told each of them that I had very little knowledge of computers and refinancing!!! I would have never chosen this Company if it hadn't been for DAVID CONRAD and MARK NOVIELLI!!!!!! They had more patience than anyone I've encountered! They were tireless in guiding Me through the process and were very understanding if I had a problem and they taught Me so much!!!!!! My sincerest gratitude to them and Your Company for all Your help!!!

 
4.0

Excellent Service!

By 

from Augusta, GA

Comments about loanDepot:

The loan staff was very professional and provided "no pressure" service on the refinance. They listened to my financial goals for the refinance and worked to meet my needs. The on-line process made it easy to send and receive documents. The loan team provided excellent phone and on-line support while providing fast responses for all my requests. For someone who is looking for a fast, competitive refinance, I would definitely recommend Loan Depot.

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  • I received a sample
 
1.0

WORST CUSTOMER SERVICE FROM A LOAN PROCESSOR I'VE EVER HAD!

By 

from Sacramento, CA

Comments about loanDepot:

Frank Piedra, a processor at LoanDepot, took 3 months to complete a Streamline FHA refinance. This is a NO DOC loan that should have closed in a month. He never responded in a timely manner. He said he contacted people for information and he never did. I did most of the legwork to get this through.

They had to get 3 loan extensions, and it closed on the last day possible. Had the interest rates not gone up I would have rescinded the loan. Let me repeat-90 days to close a NO DOC loan.

The loan officer Garret was great to work with and the loan would not have made it through without his intervention.

 
1.0

The Refinance That Dragged On For Months

By 

from Petaluma, CA

Comments about loanDepot:

It started off well as I was turned down by two other lenders and they were my last hope of getting a lower interest rate. It took 4 months to accomplish the refinance leaving me with a bad taste in my mouth. While the senior account manager was friendly, they were disorganized and had no sense of urgency to get the deal done. Their communication to me was spotty and not always timely and getting updates to the process was like pulling hen's teeth. Questions were not answered clearly and communication between departments only added to the confusion which needless to say left me exasperated and frustrated more than once. Everything about the process was a nightmare. I hung in there because due to my financial circumstances I had no other options. Had other options been available I would have walked. There were several people who did provide the excellent customer service they tout, but overall it was one of the most stressful experiences I have ever gone through. I will never use them again

 
5.0

Refinance of my loan

By 

from Lowell, Massachusetts

Comments about loanDepot:

I worked with Mortgage Banker: Brett Payne & Senior Account Manager: Shawna Behrens in getting my refinanced loan closed. Both Brett & Shawna were very professional and made sure that the process was quick and seemless for me. I am very happy with their service and would recommend loanDepot to my friends looking to purchase or refinance.

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