Friday, December 8, 2023
HomePersonal FinanceLoanDepot Mortgage Assessment 2021 - The Easy Greenback

LoanDepot Mortgage Assessment 2021 – The Easy Greenback

SCORE: 3.9

By David McMilin

LoanDepot Mortgage Assessment 2021 | The Easy Greenback


3.8 / 5.0

SimpleScore LoanDepot 3.8


LoanDepot was based in 2010 and has rapidly grow to be one of many largest names within the mortgage market. In 2020, the lender originated greater than $100 billion in house loans, serving to greater than 84,000 homebuyers with purchases and greater than 209,000 owners refinance. The lender provides an end-to-end digital course of, however debtors may get in-person help at greater than 200 branches throughout the U.S. The lender claims it may beat trade common closing occasions by 50 %. In October of 2021, the lender expanded past serving to you discover a mortgage with a brand new Grand Slam package deal (a nod to its sponsorship because the official mortgage supplier of Main League Baseball). If you happen to use a matched actual property agent, safe your own home mortgage with LoanDepot and select its title and owners insurance coverage providers, you’ll be eligible for as much as $7,000 again at closing a digital house safety system and another perks.

Breakdown of LoanDepot evaluation rating

  • Affordability: 14.75/15
  • Availability: 14/15
  • Borrower expertise: 10/10

Execs and cons

  • Waives charges for present prospects who refinance
  • Presents a completely digital course of from software to shut
  • Greater than 200 branches throughout the nation
  • Charges and costs not accessible on-line
  • No USDA loans

Good for 

Debtors who desire a digital mortgage expertise with the choice to hunt in-person help at greater than 200 places throughout the U.S.


LoanDepot is accredited by the Higher Enterprise Bureau with an A+ ranking. Based mostly on greater than 3,400 buyer critiques on Trustpilot, the lender scores a 3.6 out of 5 stars. When it comes to originating loans, LoanDepot scored 844 out of a 1,000-point index (12 factors under the trade common) in J.D. Energy’s most up-to-date buyer satisfaction rankings. Debtors are extra happy with the lender’s strategy to servicing mortgages: It completed eighth in J.D. Energy’s 2021 buyer satisfaction examine, scoring 18 factors above the trade common.

Refinancing with LoanDepot

You may refinance your present mortgage with LoanDepot. The lender provides a Lifetime Assure program: Finance one mortgage with the corporate, and it’ll by no means cost you a charge for one more refinance on the identical property. Plus, you’ll get your appraisal charge reimbursed. If you happen to’re a brand new buyer, you’ll must ask a mortgage officer about refinance charges and prices, as they aren’t listed on-line.

Assessment methodology 

To find out a mortgage lender’s SimpleScore, The Easy Greenback’s editorial group charges lenders on a scale of 1 to 5 stars based mostly on a wide range of elements referring to the lender’s services. The Easy Greenback’s companions compensate us, however our opinions are our personal, and accomplice relationships don’t affect our critiques. Right here is our full methodology.

Click on right here to learn the remainder of LoanDepot’s client critiques.



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments