LoanDepot Reviews
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About LoanDepot
LoanDepot (NMLS #174457) is a direct lender that offers home loans, including purchase and refinance loans. LoanDepot was founded in 2010, and since then, it has funded over $100 billion in loans. It’s available in all 50 states and it offers an easy online application process.
- Wide range of home loans
- Available in all 50 states
- Offers prequalification
- Doesn’t publish its rates online
Helpful Reviews
LoanDepot rates
LoanDepot doesn’t disclose its current annual percentage rates (APRs) on its website. It’s best to get prequalified online or contact a LoanDepot representative to get a better idea of its rates.
Mortgage rates change constantly, and the actual rate you’ll get depends on factors like your credit history, loan type, loan term, down payment amount and debt-to-income (DTI) ratio.
LoanDepot loan types
LoanDepot offers several mortgage products online, including conventional loans with fixed or adjustable rates, jumbo loans and government-backed loans. Its government-backed loans include Federal Housing Administration (FHA) and U.S. Department of Veterans Affairs (VA) loans.
In addition to new mortgages, LoanDepot offers home equity lines of credit (HELOCs), refinancing options and personal loans.
LoanDepot application process
LoanDepot uses a simple online application process. You’ll need to provide basic personal information, such as your name, email address and phone number, along with information about your income and assets. You’ll also need to provide information about the property you’re interested in, such as how much it costs and the size of your expected down payment.
LoanDepot typically services its own loans, so it’s likely you’ll work with the company long term. Loan officers are also available to answer your questions and help you through the application process over the phone or at a branch.
LoanDepot application process features
The table below shows some of LoanDepot’s application process features:
| Features | Availability |
|---|---|
| Online application | |
| Mobile document upload | |
| Publishes rates online | |
| Offers rate lock | |
| Offers prequalification (no hard credit check) | |
| Certified approval letter | |
| State availabiity | 50 |
| Number of branches | More than 200 |
LoanDepot requirements
LoanDepot doesn’t disclose its requirements for its home loans, though its requirements will generally differ by loan type. It’s best to speak with a loan officer to determine your eligibility and how much you can borrow.
Note that conventional loans tend to be more difficult to qualify for than government-backed loans. Typically, you’ll need a minimum credit score of 620 to qualify for a conventional loan, along with at least a 3% down payment.
Typical mortgage requirements by loan type
The table below shows typical mortgage requirements by loan type.
| Loan type | Minimum credit score | Minimum down payment | Compare with other lenders |
|---|---|---|---|
| Conventional | Typically 620 | Typically 3% | Mortgage lenders |
| FHA | 500 or 580 | 3.5% or 10% | FHA lenders |
| VA | Set by lender, typically 580 or 620 | 0% | VA lenders |
| U.S. Department of Agriculture (USDA) | Set by lender, typically 620 | 0% | USDA lenders |
» RELATED: Best jumbo loan lenders
LoanDepot cost and fees
LoanDepot discloses most of its costs and fees online, unlike most lenders. While it doesn’t disclose its specific closing costs, you can generally expect to pay between 2% and 5% of the total home loan amount.
The table below shows its fee schedule for most states as of April 8, 2026. Some fees will vary by state.
| Type of fee | Fee |
|---|---|
| Appraisal | $0 to $650 |
| Private mortgage insurance removal | $450 to $850 |
| Assumption | $0 to $1,800 |
| Bankruptcy costs | $0 to $5,000 |
| Brokers price opinion | $0 to $500 |
| Credit report | $0 to $225 |
| Document recording | Varies by state, county and number of pages |
| Foreclosure attorney costs | Up to $12,000 per action |
| Late payment | $0 to 5% |
| Modification | $0 |
| Partial release | $250 |
| Prepayment | Not disclosed, refer to loan document |
| Property inspection | $20 to $45 |
| Property preservation | Up to $5,000 |
| Recast | $500 |
| Insufficient funds | $0 to $30 |
| Subordination | $250 |
| Title search and report | Up to $600 |
FAQ
Is LoanDepot a legitimate lender?
Yes, LoanDepot is a legitimate lender that's licensed to offer a variety of home loan products throughout all 50 states. The company has been in business over a decade and has funded over $100 billion in loans since 2010.
Where is LoanDepot available?
LoanDepot is available in all 50 states, and it has more than 200 physical branch locations in the U.S.
What’s the minimum credit score for LoanDepot?
The minimum credit score for a LoanDepot loan depends on the type of loan you’re applying for, though it doens’t disclose its specific requirements online. Conventional mortgages and VA loans typically require a minimum score of 620, while FHA loans typically require a minimum score of 500 or 580.
Still have questions?
LoanDepot Reviews
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Reviewed May 16, 2026
First off, I realize our loan was difficult due to problems with our credit. But they told us from day one, the loan would be approved. It was only took short of three months. Yes, THREE months!!! For three months, we were fed do so many lies I can’t even remember them all. Had to keep sending the same paperwork over and over. They were asking for the most asinine things.
Anyhow, it is done. They were suppose to give us money three days after closing. They owe us money. They said they sent it, which was another lie. They couldn’t show me a copy of the check they sent. Just lies, lies and more lies. Everybody we came in contact with were terrible human beings. I pray to God they sell our loan! These people are truly insane!!!! Do not use these people, it will be the worst experience of your life. They ought not be business!!
Reviewed April 18, 2026
My fiancée and I started working with Pete **. From the start it was easy to get started looking for our new home. It didn't take long for us to find the perfect home for us and we were on our way. Communication was spot on. Any time we had questions or concerns Pete was right there to answer all questions in clear details. You will not be disappointed when working with Pete **!
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Reviewed April 12, 2026
Loan was part funded and they still owe us over 8k since closing. It’s been a month and we are paying on a loan that is not fully disbursed.
Reviewed March 31, 2026
This company is the worst company I have ever done a loan with, they are rip offs and liars. Do not use them, they had lied to me from day one and I will never recommend them to anyone. They told me I had a rate 5.50 and then I go to close at 5.99 and then and origination of 4,023.00 on a VA loan. They are horrible.
Reviewed March 19, 2026
They had me pay out of pocket for services. I told them that the condo I live in is not FHA approved, they knew this all a while. They also knew that they weren't going to approve the loan the whole time yet but getting money out of me. One person that I talk to said that I was definitely going to get the loan, it was just a process, what a crock of mess.
Reviewed March 13, 2026
Terrible customer service. Representatives are rude, unprofessional, and dismissive when addressing concerns. Communication is poor, problems go unresolved, and the experience is frustrating. I would not recommend using them.
Reviewed March 12, 2026
I was beat out of my deposit because they don’t give you all information you need in order to get the loan from elderly people and made me miss everything. I had another loan company and lost that loan and my deposit so please don’t use this company because they will find a way to keep your deposit.
Reviewed Feb. 20, 2026
I have a HELOC with Home Depot. I make regular payments every month, yet I do not see the principal go down at all. I understand I'll be paying the interest initially in the bulk of the payments, but the principal hasn't budged (not even by $100.00), so what gives? I would've been better off not getting it. At least I'll pay my separate bills off in a few years.
Reviewed Feb. 6, 2026
I was made to feel I was going to be approved, signed some documents about lock in price and then I was asked to pay $35.00 for a credit pull. My credit is not great but he continued on then I was debited $495.00 for a credit appraisal. I had to withdraw my offer because my pipes as in plural, one froze and broke, the other froze and wouldn't drain. I was made to feel this loan was going to be approved so I caved ...Now I deeply regret. They take only minutes to deduct from your account but take days to return your fees. Then today I did get word that the loan was denied ...So WHY do they insist you pay 495 plus 35 to pull your credit and do an appraisal. Once the loan is approved then request this information. Now it seems as a big scam. I gave them a 4 stars earlier till I know what I know now and not earlier.
Reviewed Feb. 5, 2026
We've had many home loans in the past - paid them off with no issue. The worst lender we've ever had was Loan Depot. They appear to be helpful to lenders but, that was not our experience. My husband is a service connected veteran - and we have a VA loan with Loan Depot. We sent a check for the payment - and they sent the check BACK to us, and marked our payment as delinquent - even though the payment covered the full mortgage amount and some of the taxes. Also, they do NOT allow partial payments. Beware!
LoanDepot Company Information
- Company Name:
- loanDepot
- Website:
- www.loandepot.com
