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LoanDepot Mortgage Review 2026
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At a glance
NMLS: 174457
Editor's take
LoanDepot is a non-bank mortgage lender combining the convenience and efficiency of an online platform with human support at branch locations. If you value a fast closing experience, you might consider LoanDepot; the lender claims to close on mortgages up to 50 percent faster than the industry average. Loan Depot also offers 10-, 15-, and 20-year fixed-rate loan terms, as well as the popular 30-year term, giving you a variety of loan payoff timelines to choose from.
Bankrate Score
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
4.0
Rating: 4 stars out of 5
Customer Rating
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate.
To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
3.7
Loans offered
Fixed-rate and adjustable-rate (ARM) mortgages, including conventional, jumbo, FHA, VA, USDA and refinancing options.
Min. credit score required
620 for conventional loans, 700 for jumbo loans, 580 for FHA loans, 620 for VA loans
Nationwide availability
All U.S. states
Min. down payment
5% for conventional loans, 3.5% for FHA loans, none for VA loans, none for USDA loans
LoanDepot overview
LoanDepot is a large national lender founded in 2010. The lender is licensed to fund loans in all U.S. states. It offers an end-to-end digital process along with in-person assistance at more than 200 branches nationwide. Besides home purchase mortgages and refinancing, it also offers free credit score monitoring and personal loans (via a third-party partner).
Pros and cons of LoanDepot
Pros
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Offers Lifetime Guarantee program
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Perks like home security and moving discounts and smart home products
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Variety of down payment assistance options
Cons
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No mortgage rates on its website
How Bankrate scored LoanDepot
Affordability: 3.4 stars
LoanDepot’s lack of transparency around APRs lowers its affordability score, resulting in 3.4 out of 5 stars in this category.
- Down payment: LoanDepot offers conventional mortgages with 3 percent down, FHA loans with 3.5 percent down and VA and USDA loans with no down payment required.
- Closing costs: While closing costs vary by lender and other factors, as of 2023, LoanDepot charged an average origination fee of $4,909 according to HMDA data.
Availability: 5 stars
LoanDepot offers several mortgage types and is available nationwide, netting a perfect 5 out of 5 stars for availability.
- Home loans offered: LoanDepot offers conventional, jumbo, FHA, VA and USDA loans. It also offers HELOCs and refinance options.
- Footprint: The lender can originate loans in all 50 states.
- Where to find: LoanDepot is available online and at over 200 in-person locations.
Borrower experience: 4.6 stars
LoanDepot offers many contact methods and an online account to manage your loan. However, it requires you to submit a form before seeing mortgage rates. Because of this, it scores 4.6 out of 5 stars for borrower experience.
- Preapproval and application process: With LoanDepot, you can start the preapproval process online, over the phone or in person at a branch.
- Transparency: LoanDepot requires you to submit contact information before learning what mortgage rate you might qualify for.
- Customer service: You can contact the lender in multiple ways, including in person at a branch, over the phone or via email, online form or text message. The lender’s website includes a “Knowledge Cafe” with educational resources on buying and owning a home, and you can easily apply and make your monthly payments online.
How easy is it to contact LoanDepot?
When we called LoanDepot, we got in touch with a representative who then funneled the call to a loan officer. The loan officer didn’t offer the clearest guidance when we asked questions.
LoanDepot reputation
LoanDepot is a large lender with an above-average reputation in most regards. The lender is accredited by the Better Business Bureau and has an A+ rating with the organization. The lender has also received a “Great” ranking on Trustpilot, with over 4,000 customer reviews. However, LoanDepot scored below average in J.D. Power’s 2024 Mortgage Origination Satisfaction Study.
What Bankrate users say about LoanDepot
Overall, consumer reviews of LoanDepot on Bankrate are positive, highlighting the company’s professional and knowledgeable staff, quick loan turnaround and flexibility. However, multiple reviewers found the staff to be "pushy" and made commitments that weren’t kept.
Lender compare
Compare LoanDepot to other lenders
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NMLS: 174457
4.0
Rating: 4 stars out of 5
Bankrate Score
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Recent Customer Reviews
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
3.7
NMLS: 449104
5.0
Rating: 5 stars out of 5
Bankrate Score
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Recent Customer Reviews
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
2.5
loanDepot customer ratings and reviews
NMLS: 174457
3.7
80 ratings
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown below are limited to only those that this advertiser has received during the past 12 months.
This lender has 0 recent reviews.
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70% of customers would recommend this lender.
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