NMLS ID# 174457
Information is provided by the mortgage lender. Average closing time is calculated using lock to fund dates in 2017.
I am extremely pleased with the service provided by this company. I had tried unsuccessfully with two other companies to do a cash out refinance. My Loan Officer Alan was a real problem solver who never quit and got it done. I and my family will forever be grateful and I highly recommend this company.
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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Check for ratesSister was led to believe that she would be able to service account as with RM by several LD lendung officers (changed 3 tines??? However, once all paperwork signed, and she immediately tried to make the 1st 1st half payment and could not, she was first told tge 1st payment could only be paid on the due due and must be in full. It was only after same tgung happened with the 2nd payment was she informed that LD did not allow for partial payments advanced or otherwise. MY SISTER regrets moving to LD. She had been led to believe the only change would benefit her, better rate and payoffs and some cashout. The mortgage payment only increased $100. But not being able to break the payment up has ruined her budget in meeting it and other bills which was how she presented would pay it when speaking with the LD lenders. Neither ever told her she would not be able to do it. Wonder why LD chooses to put customers under under financial strain which not allowing for such advanced partial payment of half and the rest at or on due date would be so helpful for many?
WORST POSSIBLE EXPERIENCE: First they lost my account which delayed closing by 50 days and then they had the wrong numbers in the closing documents which delayed the closing itself by another whole week then they failed to pay taxes and insurance from the escrow they had been collecting. TOTAL INCOMPETENCE in step after step.
It took them 4 months to close my refinance . I will not advise anyone to use it
If I could give 0 stars, I would. The woman I just talked to was the most disrespectful person I've ever had the displeasure of speaking to. After taking all my info, she started talking so fast and using terms I'm ignorant to, so I informed her that I have an intellectual disability, so tend to ask more questions in order to better understand things. She has absolutely disgusting customer service skills. And she's been "DOING THIS FOR 11 YEARS?!" As she proudly announced, anyways, which had nothing to do with the fact that I needed more answers and time in order to fully comprehemd the details. Never ever again. I'll never recommend them, and will direct everyone I know to every other company but them. Perhaps it happened for a reason, I'm not meant to work with them because there's better out there. Again, ZERO stars. Don't do it.
Terrible terrible terrible. No partial payments and they claim ever bank is different when you approach them with a problem. They are the only different bank and by different I mean dumber than a box of rocks. Do not I repeat do not use loandepot. They are garbage.
this company insisted on me, rolling my car payment into my house payment I specifically told them no three times but obviously they didn’t listen, they did charge me for credit check, but they also billed me for a appraiser which I did not say OK to plus the appraisali was canceled yet. They still charge me almost $500 and will not return my calls I feel this is defrauding customers I have turned them into my credit card company and to the BBB. I don’t know if anything is going to be done about it, but just wanted to share.
LoanDepot refinanced my house and competed with multiple other banks. They meet any compared rates and won our business. The process was excellent and I will use them again.
Rude customer service. I told the person who called me I already had an application with another company and she just hung up on me. Super unprofessional, I gave her the courtesy of letting her know when I could have said no thanks and hung up. So annoying that people can't act civilized.
I had the worst time with this company. They said they sent letters about getting awind and hail policy. I got one letter in Sept 2022 and I went and got a policy. But, one lady says they have been sending them since August 2022. Then another lady says we sent them since June 2022. But, I never got copies of policies they created but they said they sent it but I don't even know the company. I hate he said she said conversations and they are always right. I have had this place for 6 years and the moved to them in 2021. Worst experience ever to the point i paid my own policy for this year out of pocket and not use the money i have in escrow as i dont trust them anymore.
Promise promise promise..... then somehow sit on the appraisal money for 60 days when they never even ordered one.....? Shady
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