Overall Score 4.8 out of 5

Overall Score 4.8 out of 5

Personalized Score out of 5


LoanDepot is a California company that offers services in the mortgage loan sector. They aim to provide financial support that is unbiased and beneficial to the homeowners and future homeowners they work with.

Review Highlights:

  • Affordable rates without stringent credit score requirements
  • Wide variety of loans and no employee incentivization to push homeowners into particular loan types
  • Applications can be done entirely online

Ratings Highlights

Overall, loanDepot is a great option for homeowners who might not have the highest credit score but still want to have a variety of refinance loan options. With their affordable prices and easy-to-use platform, loanDepot is a suitable choice for most homeowners looking to refinance.
Loan Variety
Loans Offered Include: Fixed, ARM, rate-and-term, cash-out, FHA, VA
When it comes to variety, loanDepot has a great roster. They offer the standard loans that most homeowners are interested in, making this company a good choice as far as flexibility goes. Additionally, they have a "no-steering policy" which keeps their loan officers from being incentivized to steer customers towards any particular loan programs -- meaning they will only match homeowners with loans that suit their needs.
Although the site does not present pricing examples until after customers fill out an interest form, you can expect average pricing that is consistent with the current market from loanDepot. As with most lenders, homeowners with higher credit scores can expect lower prices.
Customer Service
When it comes to customer service, loanDepot does very well. Their site is easy to navigate and includes useful refinance calculators and personalized assistance through both a phone line and a chat box. This support makes the process of starting a refinance through them a breeze.
Company Reputation
Customer's are mostly positive about loanDepot, with their lower credit score requirements and wide array of loan options being key points that customers liked.
Ease of Application Process
LoanDepot's application process is altogether easy, as it takes only a few minutes to complete and can be done entirely online, although calling in is also always an option. They operate in all 50 states, so you can work with them no matter where you're living.
For Lower Credit Scores
Minimum Credit Score: 580-600
While the requirements depend on the loan, loanDepot has loans available for homeowners with a score of 580 and up, which is more forgiving than some other companies.
For Higher Credit Scores
With fairly good pricing for homeowners with higher credit scores in particular, and all of the major loan types available, you won't be disappointed with loanDepot.

Company Background

Based in California, loanDepot started in 2010 with a focus on mortgage loans. While their services have since expanded to include other financial verticals, their commitment to their customers has remained the same.