loanDepot Mortgage

Reviews: loanDepot Mortgage

Reviews: loanDepot Mortgage

loanDepot Mortgage

NMLS ID# 174457


12

Years in the industry

$212B

Total funded loans

59

Days average closing time

Information is provided by the mortgage lender. Average closing time is calculated using lock to fund dates in 2017.


Overall lender rating

3.7
out of 5
1517 reviews
from Credit Karma members

Most helpful positive review

Mar 02, 2021
Customer service is desperate and rude

I gave it 5 stars so you can see this review at the top. My experience with Loandepot was very unpleasant, they tried to pressure me to make a decision the same day the provided me with the rate. When I told them I wanted to take time to think about it and shop around they turned straight-out rude. I would not recommend LoanDepot at all.

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Most helpful negative review

Sep 25, 2020
The process was a complete nightmare.

The nightmare began right after I received the initial approval. The loan processor was completely inept. After many angry calls to managers and threatening to pull out of the loan , I finally closed. What should have been a simple refinance with uncomplicated financials took 4 months to close. Never again. Not worth the headache.

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We don’t have rates available from loanDepot Mortgage.

Average rates from other lenders

Refinance rates

Purchase rates

Average home details

Credit score: 720–739 • ZIP: 77009 • Price: $300,000 • Down payment: 20%

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All member reviews (1517)

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Sep 24, 2022
Phone harassment

LoanDepot he called me every hour, EVERY HOUR, since I showed interest in a loan. They will not stop calling! BEWARE

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Sep 21, 2022
Obtaining my mortgage was a breeze !

Representatives were very knowledgeable, polite and helpful. They made the process very swift and easy.

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Sep 09, 2022
Nightmare

Not a good place for VA Loans, process is a nightmare. Long list of issues with these guys. You have been warned!!!!

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Aug 30, 2022
Do Not Use This Lender

Do not go with this lender. Here was our experience in detail. My husband and I have been shopping around for different lenders for home equity loans, cash out refinances, and HELOCS, so we had been calling different lenders for rates. We contacted Loan Depot on August 4th and spoke with Julia on speaker to find out about their rates offered. After giving us information about what they offer, she states she will need to run a soft credit inquiry on our credits to get us the most accurate rates based on our scores. We were hesitant because we did not want any lender to run our credit checks until we were actually applying for a loan with them. We asked her several times for reassurance that it would be a soft credit check and would not affect our credit, and she stated yes and it would not affect the scores. So we agreed to giving her our SSNs, and she gave us some rates. We said we would think about it and call back if we wanted to move forward with a loan. Fast forward to two weeks later, my husband and I both get packets of disclosure paperwork from Loan Depot about a loan we are applying for, what estimated fees that we will owe (over $18K), and one of the papers stated that they ran a hard inquiry on August 4th. Naturally we are angry because Julia lied to us about the soft credit check, and she took it upon herself to fill out loan paperwork for a loan that we were not interested in. All we did was called about what rates they could offer us. We called her right away, and she stated that we authorized her to run the hard credit check when we gave her our SSNs. We continued to tell her that we only authorized a soft credit check and not the hard credit check and wanted to hear the recorded phone call from August 4th to find out what was actually discussed in case we made a mistake. Julia states that we cannot hear the call and that she would have her manager call us back. Her manager calls us about 20 minutes later and states the same thing that we authorized the hard credit check and that by law they have to send us the disclosure paperwork for us to review. He reassured us about not worrying too much about our credit scores, and they would go down a little bit due to the check and would go back in a few months. Fast forward to yesterday and we receive an email from Julia stating that Loan Depot cannot move forward with funding us for a loan. This was my response to her email: " Considering we did not apply for funding or a loan with your company, only approved a soft credit inquiry on our credits, and only inquired about what your company rates were for loans, I would say that this email was unnecessary to send. But thank you for letting us know anyway." I'm not saying this part to brag or anything, but my husband and I are ideal candidates for a loan: we both have 800+ credit scores, our debt to income ratios are low with only our current mortgage being our debt, our house has over 200K in equity, we have both been at our jobs for over two years each, and we make a great income every month. So the only BS reason that they would deny us is because we called her out on her lie and wanted proof of what she said. I hope this review helps with making any decision.

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Aug 30, 2022
LoanDepot

First of all I worked with several different loan officers throughout my refinance. After my appraisal my loan was denied do to lack of value in my property. Which was hard to believe when I own the property free and clear. Horrible service and a great lack of communication.

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Aug 27, 2022
Essy

Was able to complete most of the paperwork over the phone and online. Was given updates throughout the process and questions were answered quickly when I had them

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Aug 20, 2022
Good

Great communication, easy to work with. Pretty much sums it up

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Aug 19, 2022
Loan Depot Rocks!

Smooth transaction start to finish. Quick close, good communication, recommend!

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Aug 18, 2022
Insulting

I filled out a form here on lending tree and received a phone call from this company. The first person I spoke with was helpful, cordial, and friendly. But he couldn't meet my needs. I later received numerous phone calls and texts from other employees. I finally responded to someone who referred to herself as a manager and who could possibly help further. After going through the initial setup, she offered me an offer, which I declined again because it didn't meet my needs. She began to insult me stating what would be smart for me to do, as if I wasn' being smart in my current situation. When I tried to interject, and correct her, she kept speaking over me. So rather than making matters worst, I got off the phone with her. She later texted me back and I informed her that I didn't appreciate her tone nor how insulting she was. I would not use this company nor refer any family or friends to them.

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Aug 14, 2022
Bless the Lord

Good morning I am expecting to get call as soon as possible at 9542134015

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1-10 of 1517

We don’t have rates available from loanDepot Mortgage.

Average rates from other lenders

Refinance rates

Purchase rates

Average home details

Credit score: 720–739 • ZIP: 77009 • Price: $300,000 • Down payment: 20%

Add your home details to see if we have rates for you from our lender partners

Check for rates

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