LoanDepot Reviews

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!

All bad, my guess you have to be perfect to get thru the weeds, there’s no professionalism on handling and managing discrepancies on loan. At that point it’s all about production and hidden agendas.

Everything was good in the beginning. We ran into some financial hardship and things changed for the worse. They did but they decided to impound our taxes without approval, no big deal but I already had paid one installment and part of another with my tax office. They had no regard for the taxes I paid instead they took the lazy way out my not taking out my payments from escrow and getting double charged for the same tax payments.

My advisor Steven was not honest. He "forgot" to tell me about at 35 dollar credit check fee and charged my card. Then I get all my info over to him and he can't even call me to tell me after I was told I was approved that I was denied cause I was off work for my 3rd back surgery. Now Steven won't return my calls or emails. Thanks for wasting my time.

I was trying to check rates online and somehow loanDepot got my phone number. They have called me up to 6 times a day each time from a different number because I keep blocking the number that they call from. Very aggressive tactics. They do not leave a voicemail. Just because they call me multiple times a day does not mean I am going to answer the phone and say, "Yes please." This is the reason I would never do business with Loan Depot, and I would hope that no one else does either.

Loan Depot was great as long as they were hustling for my Reverse mortgage. But once we signed the documents they disappeared. It’s been two months and we have never received a financial statement. Nor been able to find a place to get one. The agent J ** said “I am with you and will stay with you throughout the loan”. But once it was consummated, he disappeared and refuses to answer phone calls, and emails.

Communication was almost non-existent, there was a routine boiler room tactic used to get my business, once I started the loan process, it was like pulling teeth to get information. The process was slow, over 9 weeks, during which the fed dropped the rates twice - but loanDepot had my rate “ locked”. Overall it was a very disappointing process, one which I regret moving forward with, live and learn!

We initiated 2 refi loans on Sep 4, we were pre-approved for both loans and told that since Loan Depot underwrites their own loans and based on our incomes, loan amounts, and home values, the process would be straightforward and we would close in 21 days. It has now been close to 60 days and we still have not closed. Our loan officer is hard to get ahold of, underwriting takes forever to review documents, and the process has been frustrating and non-transparent.

My loan officer Daniel ** totally misrepresented the loan closing cost. We were told the closing cost was $1600. $495 for the appraiser & $35 for the credit check. We were refinancing to a 15 yr Mtg at 4.375%. We were at 5.375%. This was on 9-15-2025. We faxed over our tax returns & income for my spouse. The next day, we were approved. He told us that we would receive a phone call or email from the appraiser. He came on that Saturday.

In the past 8 years ago, I had a good experience with this lender that's is why I decided to seek their services however this company has changed. My credit is excellent above 800's. I was told, "You have been approved. Send us your financials etc." After 3 to 4 weeks into the process they changed the rate from 7 to 8.5 with the excuse that was an error to make you believe that you are on track because they want more info from you perhaps just to sell it. When final disclosures come to be signed the interest rate will change even higher. Well I canceled and as soon as I did that my phone line began being flooded with scams, spam texts and unsolicited phone calls this bait-and-switch tactics are simply unnecessary a total lack of ethical transparency from The loanDepot.

I had to put a VM greeting on my phone saying "If this is a Mortgage Company, please hang up and take me off the calling list". This did not work with them. They just called me again at 6:26am this morning and woke me up. What reputable company does that? They must be hard up. Called me again at 7:15am and I actually picked up to complain. Silence on the other end. I called them back 4 times and each time this employee picked up, I heard her talking about "firefighters and school" to another employee, then hanging up on me after a couple seconds. I guess I was interrupting their important conversation.

NON STOP HARASSMENT!!! I never asked for info from them, or contacted them suggesting that I was interested. I get 20 calls plus everyday. They are after my structured settlement...One of the ** left a voice mail and he THOUGHT he hung up. He was talking s**t about the people they call. And his choice of language was very colorful. I have called to get taken off their call list. That's a joke. Blocking numbers don't work since they always use a different number. I would LOVE to file something against them. I was on the phone with a very important doctor's office recently and they called over and over making it impossible to talk to a nurse. LEAVE ME ALONE LOANDEPOT!!!!

Waited half hour on two calls just to get to a mortgage specialist to get the answer to a simple question to save everyone time. I don't recommend this company or associates if they can't address even the simplest of questions

Wasn’t excited about the origination fee but got over it. I have had them two years now and despite telling them I am not interested in refinancing, they have called me every day for the last two weeks. I have asked numerous times to not be called anymore. Then they started emailing to the point I had to threaten harassment. I’m currently looking for a new loan provider.

The worst. Don't answer questions. I paid them money but dropped them when they didn't answer my questions. I lost the money I paid them. Have to do the same paperwork repeatedly. Don't know if they lose it or what. Have to tell them same thing over and over till they change it. Big headache and waste of money and time.

I've had my mortgage with loanDepot for several years but it wasn't until the last two months that I've had to work with their customer service. A BAD EXPERIENCE. My fault for mistakenly making two payments in the month of July. The first covered the required payment but the second check (sent in error) was returned due to insufficient funds in my account. Simple/honest mistake whereby loanDepot got their payment but then had the audacity to charge a NSF fee for the second check. This hard-core/by-the-book practice is simply bad business. Go elsewhere to get your loan because it's obvious to me that these folks don't care. (Additionally, "Amber" my customer service rep wasn't terribly professional nor understanding.)

I was contacted by one of your loan officers who gave me high hopes of buying a house. I was new to all of this and I always thought to myself that I will never be a homeowner. It was something that I always wanted for my children so I agreed to give it a try. Then I was told that I was approved to move forward with the next steps. My loaner introduced me to my realtor who to me was doing her best to keep up with everything. I put down 5k towards escrow on a house that we really liked because we were told that everything was going well. I did my best to provide my loaner with documents needed but always gave us positive feedback.

Loan Depot is a company that commits all kinds of shenanigans. They delay processing or hold the payment or cancel payments and do not tell you why so they can get a default and take your property or charge late fees and more interest. When you pay toward the principle, they do not credit you toward the principle. Avoid this company at all costs.

Excellent Service from Mr. Gerry ** My name is **, and I recently purchased a home with the help of LoanDepot. I started my loan application on March 12th, and the loan was approved by the end of April. We successfully closed on May 1st. I want to sincerely thank Mr. Gerry **, my loan officer, for his outstanding service throughout the entire process. From the very beginning, Mr. Gerry was professional, kind, and always willing to help. He kept me informed every step of the way and made sure everything went smoothly. I was especially impressed when he personally attended my closing — it really showed his dedication.

I am highly dissatisfied with my experience at LoanDepot. Their online payment portal consistently posts incorrect amounts due for one-time payments. In April, I called customer service after noticing an error, and though they acknowledged it, nothing was done to correct it. In May, I made my monthly payment online as usual. When I logged in June, I saw I was being billed twice my normal amount. After calling, I was told their system glitched and did not fully process my May payment—leaving a $71 shortfall that they then reported to credit bureaus as 30 days late. Despite multiple calls and representatives acknowledging the mistake, no one could or would fix the damage to my credit.

Fee hogs! My payment takes 11 days to get my check from my mailbox to their processing center. It’s ridiculous doesn’t take that long anywhere else. So I have to pay 11 days in advance or I get a late fee. They will not waive a fee and can’t explain why it takes 8 days to process the check after it is delivered! Wells Fargo was always great and I should have stayed with them. Loan Depot sucks!

Did loan modification after wife dies in 2023. Have V.A. loan at 2.5 rate, but willing to refinance to get away from them. They mentally grind you down and make the process difficult and degrading. My original loan was sold to them. I purposely didn't request financing from them on advise of other vets. Wells Fargo after a year sold to them or however it works. If the Lord blesses me to make it till January, hopefully I can refinance.

I like to share with you how important it is to have the right people on your side weather it is a loan are refinancing, 2025 has been tough on truckers, so I made a good decision to refinancing, paid off a lot of debt, 350 here, then 300 here, car note, living room, just things to improve the house but it took its toll on me, stress set in, so I made a call to loanDepot, meet a few great people, like Peter, and Christine, there are other there, so we started the process, 3 weeks and boom really changed my life. I can breathe again and I paid everything off. now just house payment and the regular electricity water and things so really thank you all,

LoanDepot is a terrible company. First their mortgage servicing is the worst I've ever seen including their lockbox for payments. Second they now are going after their customers claiming not adequate insurance. They are charging me for a past period of time for supposedly a lapse of coverage when I actually did have one. When I asked for a copy of the policy including coverages and exclusions they WOULD NOT submit a copy. I suspect insurance fraud by Loan Depot. I'm Considering hiring a lawyer for a possible class action case as I'm sure there are other customers experiencing the same fraud.

I was working with Jack **, trying to get a loan for a purchase in Aurora, CO. I wanted to have an initial call to understand what kind of loan I should apply for - Conventional, FHA, CHFA. I am not an expert so I had lots of questions. After asking my initial question about what benefits an FHA loan would provide, he immediately became enraged and very rude. I'm not sure why he was so upset. It may have been something unrelated to the call, and he was just taking it out on a customer. But this was very unprofessional. Do not go with LoanDepot or work with Jack. TLDR: Don't work with LoanDepot, particularly if your agent is Jack **

Angela ** told me I needed to have the contractors "work for me." 5o get the renovations done before an appraisal so it would pass. Did that. After running my credit scores multiple times, now it's lowered and they don't want to do my refi and cash out loan. She also told me, they never take any upfront fees, THEN later tells me they do. Now I've been ghosted. That just don't seem right or fair at all. Maybe it's who you're dealing with, because I wouldn't recommend Loan Depot to anyone.

We started a refi the 1st wk. of March. The appraiser had to get 6 calls before getting over. Did about a 20 minute appraisal and it came in $60,000.00 less than what it appraised for 8 mths. ago. He was clearly mad about having to be called repeatedly and now he's holding up the process again asking for more photos. He claimed no updates in the last 15 yrs. In the 5 yrs we have owned the property we have put in new kitchen cabinets and counter tops, steel fence to close in front yard and replaced the oil tank, before we bought it the owners put in a laundry room and replaced kitchen appl. and it had new washer and dryer. So he LIED and now we are being told if we try and dispute it our refi will take even longer. I would not recommend doing anything with this co. Our turnover time is now up to about 6/7 wks. for a refi. NOT COOL.

They are fee predators. No matter how many times you make an on time payment, if you ever miss, they will not waive a late fee. I have never had a lender have a no fee waiver policy. I have had a loan with them for four years.

This company came through a lending website that I was looking at for current mortgage rates. That was 2 months ago and since then, their harassment through email, text, and calls was the reason I didn't even consider this company as they are like vultures and clearly are desperate for sales. I don't know how to stop the calls from them even though they are blocked, they still show as blocked calls. LITERALLY every day, multiple times. Sometimes they sneak in under a different number or sometimes I call them and tell them off, but they still keep at it and won't remove me from their system. I recommend ANYONE thinking of working with them DO NOT! I feel someone this desperate cannot be good and will screw you in the end to make a buck. STAY AWAY!

Loan Depot told me that I was approved and got me to send them all my financial details. Now they are saying they can’t approve my loan. They mislead people and collect all your financial details just to reject your application.