loanDepot Reviews

4.1 out of 5 stars
109 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

3.5 out of 5 stars

Customer Service

3.5 out of 5 stars

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Most Helpful Positive Review

Nov 03, 2016
Refinanced with a better Interest Rate
Anonymous Borrower

I was getting 3.75% from a previous lender and loan depot refinanced my mortgage loan for 2.75% and No Out of Pocket costs.

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Most Helpful Negative Review

Apr 18, 2017
Difficult and timely process
Anonymous Borrower

Being self-employed it was brutal...these folks asked for copies of same forms over nand over...seemed to have a disconnected process plus i dealt with 6+ different folks. i got the loan at a good rate but paid a prememun for a closing costs standpoint..

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

Jul 13, 2017
Run away!
Anonymous Borrower

They have no idea what they are doing.  Their "customer service" just cost me my first late payment on my credir report in over a decade.  I would move my loan but that may be more difficult now thanks to their complete imcompetence.  Run away fast!

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Jun 11, 2017
Bad customer service
Anonymous Borrower

I was told at the beginning they would pay my credit card and student loans.after one week , they said they could not do it. they charged my account for the appraisal, and then said they had to cancel everything because the mortgage price they told me at the beginning changed from 500 to almost 900. worst experience, I lost my appraisal money.

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Jun 11, 2017
Bait and switch
Anonymous Borrower

First they lure you with the promise to waive their fees, then they get you to commit with hundreds of your dollars, and weeks of your time submitting paper work, then two days before signing 'forget' to waive the fees they promised to get you to sign. Avoid. Scam city!

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Jun 08, 2017
loan itself ok. People not good.
Anonymous Borrower

Don't use loan depot

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Jun 06, 2017
They took two payments out one month!
Anonymous Borrower

They took two payments out and would've reimburse me one of them!  I'm still trying to get it back after 3 months.  I even asked them to credit me but they haven't done that either!

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May 31, 2017
Refinance
Anonymous Borrower

Very painless approval process.  Everything was clear up front.  I've been through the process before so I made it a little easy on the bank but they clearly had their ducks in a row.  This is the fastest and most professional financing process I have done.

As always its on the consumer to do their due dilligence.  But with LoanDepot this was super easy and painless.

Process took 1 business week from start to finish.  (Super fast!)

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Apr 26, 2017
Terrible Customer Service
hmowner2 Borrower

When I got the loan they gave me an address to send the first payment and a different address to send the second payment.

I sent in each of these and they were credited fine.

Then they sent me additional changes of address and I didn't look closely, assuming these were duplicate of the first change of address.

When I sent my 3rd payment, they returned it marked "Received" but indicated that I had to send it to a different address and it wasn't credited.

After resending the payment (but before it was received), they charged me a late fee, even though they marked my payment as received.

They did call me a couple of times but never left a message saying I needed to mail to a different address. When I returned their call, I couldn't get through because they said I entered the wrong last four digits of my SSN (of course the problem is theirs, not mine, I know my SSN).

When I called them, they said it all must be my fault and I have to pay the late fee and if I don't hurry up they will ding my credit.

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Apr 25, 2017
16lmck Borrower

I was completely happy with my refinance with Loan Depot.  The loan officers were friendly, extremely helpful, and very timely.  Everything was completed on time and quickly, information I sent was always

recevied and responded to right away.  I pretty much felt they took care of all my needs and questions professionally, and proficiently.  I will definitely be back for any future financing and would highly recommend

their services to anyone.

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Apr 18, 2017
Difficult and timely process
Anonymous Borrower

Being self-employed it was brutal...these folks asked for copies of same forms over nand over...seemed to have a disconnected process plus i dealt with 6+ different folks. i got the loan at a good rate but paid a prememun for a closing costs standpoint..

more ...
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