4.9
1,014 reviews
Other Mortgage Lenders:
  • Average: 4.6
  • High: 5.0
loanDepot

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by PowerReviews
loanDepot
 
4.9

(based on 1014 reviews)

Ratings Distribution

  • 5 Stars

     

    (912)

  • 4 Stars

     

    (84)

  • 3 Stars

     

    (5)

  • 2 Stars

     

    (5)

  • 1 Stars

     

    (8)

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 (348), I am an employee or otherwise affiliated with the brand (50)

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 1014 customers

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5.0

Very Happy!

By 

from Kansas City, MO

Comments about loanDepot:

"The Loan Depot " WOW!! I don't "do" surveys or reviews, but this was worthy of my time. This company, Shane Davidson, Mia Cipriano, and the notary Ramona, provide the professional ism, attention to detail and customer service I remember from times gone by. I'm a "Baby Boomer" who worked in customer service and sales my entire career and I truly believed that kind of service was dead. At The Loan Depot it still lives. Other than my initial telephone call, not once did I have to call for information, there was a message on my phone or my inbox at every turn, before I had formed the question!! I've already recommended The Loan Depot twice!!
-One very happy camper!!

  • Affiliation:
  • I received a sample
 
1.0

Very disappointed

By 

from Denver, CO

Comments about loanDepot:

I was told when I checked on a refi, that they could guarantee that I would miss 2 mortgage payments. As the time approached, it turned out not to be the case. I ended up closing before I realized what had happened, and the refi ended up costing me quite a lot. I wish I had never called them. HUGE MISTAKE. I knew better.

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

Highly Recommend

By 

from Medford MA

Comments about loanDepot:

Very easy process. All done online kept up to the minute on each step. Highly recommend

 
5.0

Loan Depot is our hero!

By 

from Lutz, FL

Comments about loanDepot:

Loan Depot has an amazing team of knowledgeable people who strived to make our experience with them as quick and easy as possible!! We truly appreciated them working around our busy schedules! Now we have a lower fixed rate that will help us achieve our lifetime goals!! Definitely recommending them to family and friends!!

 
5.0

So far so good

By 

from SLC, UT

Comments about loanDepot:

We refinanced our house and the whole process took less than a month and went fairly smoothly. Our loan officer was Janice Bae and Rob Morrison was the account manager. Both were very helpful and friendly. The process was much more pleasant than our construction loan or most recent refi. We have not yet made the first payment so if that goes as smooth as everything else we can definitely recommend Loan Depot.

 
5.0

Very pleased with the level of service

By 

from Staten Island N.Y.

Comments about loanDepot:

The service that was provided by Carlo Hernandez and Sam Lee was second to none. I refinanced my mortgage the process was so quick and everything that was promised to me I received. They saved me a substantial amount of money lowered my rate and paid off my debt. Thank you both for all your help. I will definitely recommend Loandepot

John Farino

 
5.0

Colin Kim

By 

from San Diego

Comments about loanDepot:

Working with Colin Kim has been an very positive experience. He was professional, courteous, and very knowledgeable. He made the whole process easy for me and my wife to understand every step of the way.

 
5.0

Held my hand through the whole thing

By 

from sacramento, ca

Comments about loanDepot:

I had a good experience with my refinancing through Loan Depot. I had a few surprises that I did not know existed until it came up through the refinance. There were liens and pay offs that needed to happen that I did not know about but they informed me about everything and let me know what was going to change. They kept me in the loop the whole time. I never had any surprises that we were not able to deal with. They gave me all my options and gave me worst case scenario options and let me decide every step of the way what was to come next. They were very helpful, informative, and made things easy to understand. If I had a question that they didn't know the answer too they would find out and get back to me. We were able to pay off student loans, a lien that was on the property, pay the financing company I used to get my windows, and also we were able to get away from our previous mortgage company that we were dropped into when the one we had before went out of business. As a bonus we get a year free of Aflac and we are a lifetime member of Loan depot which means that if we refinance, buy a new home or what have you they will waive the origination fees since we are repeat customers. I'm happy to say that Loan Depot has helped us to get down to only 1 debt and that is our house. Which a house is more of an investment then a debt. My loan was closed within 2 months of starting the process. Even with all the things that came up it was closed pretty quickly and they made the whole process easy. I would defiantly suggest them to anyone wanting to purchase, refinance, or move mortgage companies.

  • Affiliation:
  • I received a sample
 
5.0

Looking out for the customer

By 

from Acton, Ma

Comments about loanDepot:

We refinanced with Loan Depot in January 2017 and my wife and I were very happy with the rate and service given to us by the entire team. Less than 5 months later I recieve an email about possibly refinancing for no cost but getting a .5% decrease on our loan. The process was extremely quick with minimal effort on our part. Within 3 weeks we had refinanced for a lower rate at no cost to. We are very very impressed

  • Affiliation:
  • I am an employee or otherwise affiliated with the brand
 
4.0

i would use loan depot again

By 

from amesbury, ma

Comments about loanDepot:

i made a call to loan depot about a refinance but didn't know if I could. They took me through the process and it went so smooth

  • Affiliation:
  • I received a sample

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