loanDepot Reviews

2.4 out of 5 stars
23 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

3 out of 5 stars

Customer Service

3 out of 5 stars

2.5 5
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Most Helpful Positive Review

Nov 05, 2018
Really easy process
TestUser190 Borrower

Funded quickly, had no problems thorugh the process. Communicaton was very clear. 

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Most Helpful Negative Review

Mar 23, 2018
Bad!
23man Borrower

This company is pretty bad they lose focument you send them then ask for it, then lose it again. They say " they are done, we don't need anything else " next day they're asking for something and it goes on for a couple of weeks I just don't know anymore.

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These reviews were written by current and former borrowers in the last year.

Jan 24, 2019
Credit Drop Waiting to Happen
MSandridge Borrower

By the time you open up the letter saying your mortgage has transferred your Credit Score will have dropped 20-30 points. Requesting any help from them to help combat the credit score drop will be met with Canned Responses from their legal team. Worst mistake I've ever made and will make sure my future mortgage companies do not transfer them.

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Jan 21, 2019
Very easy process.
quantoi Borrower

Everybody I worked with were friendly and helpful.

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Dec 30, 2018
They are liars.
Pappyjiw606 Borrower

They promised to never sell my loan, then did it without even notifing me in anyway. No phone call, no letters, no email, nothing. I only found out when I went online to pay December's payment and could not make a payment. It took a phone call to their help line to find out they had sold my loan, to a no-name company that is not even rated. This is the worst customer experience I have ever been through. If you need a loan - do not use these people. I will be contacting the VA and see what I can do to have them removed from being an uthorized loan agent for veterans.

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Nov 28, 2018
Don't trust them!

Has to be the worst experience of my life, poor customer service, very few representatives know what they are doing. Nickle and dime everywhere they can and almost never get back to you. The second i can refinance with another company i am! AVOID DOING BUSINESSES AT ALL COST

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Nov 05, 2018
Really easy process
TestUser190 Borrower

Funded quickly, had no problems thorugh the process. Communicaton was very clear. 

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Sep 28, 2018
Smooth process, aggressive rate
yutgoyun Borrower

I had no problems working with loandepot.  I was assigned a diligent loan officer (John Kim) who addressed my questions and concerns throughout the process.  From reading mortgage reviews, it seems getting assigned a bad service member can be a luck of the draw.  I received an excellent quote from Loandepot, after John cleanly beat my other quotes in a bidding war.  He did so without disparaging his competitors, which I felt was professional and made me more comfortable with the process.  There were a lot of documents that needed to be exchanged, but my process was completed in time without any issues.

Excellent credit, Conventional fixed rate loan.  Condo.

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Sep 28, 2018
Smooth process, aggressive rates
yutgoyun Borrower

I had a very good process with loandepot - I checked out about 7 lenders.  My Loan officer John Kim was great - when I had questions and concerns, he was quick to address them.  Loandepot gave me the most aggressive rate after a bidding war.  I really appreciated John's work in cleanly beating all other offers.  The deal closed on time.

I'm not sure where the bad reviews come from, but I think it depends on the loan officer you get assigned.  Seems to apply to any company.

High credit, condo, conventional fixed loan, 20% down.  There were a lot of documents that needed to be exchanged, but they were all processed in time.

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Sep 25, 2018
Lies and misinformation
LMacMI Borrower

The lending officer in Southfield, MI was great, but then when the loan went to the acct. mgr. in CA it all went downhill!  I had to email or call all the time to find out the status, and when it came time to close the numbers were different!  Had to call the acct. mgr. twice during the closing. Then I was told I would have to sign more papers to close the loan.  Told them to forget it, was going elsewhere.  A production mgr. called me, knocked off some costs for my anguish, said the loan was ready to close and would even throw in a VISA gift card. Over 2 weeks later finally closed, but never received the gift card.  They will tell you what you want to hear and then lie. 

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Sep 04, 2018
Reference
benzo123 Borrower

Before loan closing no more fallow up with with agent. Did not call to let me no loan was closing. Did not here from them again 

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