LoanDepot is a mortgage lender providing a digital experience and face-to-face service. It operates nationally with more than 200 branches. LoanDepot offers fixed- and adjustable-rate conventional and jumbo mortgage loans. The company was founded in 2010, and it is based in Foothill Ranch, California.
Register your account to get started
To access LoanDepot, you will need to register your account.
Here are some steps to register:
- At the first step, you are able to visit this link here. It will take you to the page where you are able to make your account.
- Then, submit your last name.
- After that, submit your SSN.
- Next, submit your date of birth.
- Now, submit your email address.
- Simply, click the next button.
- Ensure you submit all information correctly so you are able to register successfully.
logging to your account
After you create your account, then you will be able to login.
Here are some steps to login to your account:
- At the first step, you are able to visit this link here.
- Then, submit your username.
- After that, submit your password.
- Also, make sure that you agree to the user terms and privacy police.
- Lastly, you have to click the login button.
Types of Mortgage Loans offer by LoanDepot
LoanDepot has many home loan options, including:
- Conventional loans.
- Jumbo loans.
- FHA loans.
- VA loans.
- 3/1, 5/1, 7/1 and 10/1 adjustable-rate mortgages.
- Rate-and-term refinancing.
- Cash-out refinancing.
- Renovation loans.
How does LoanDepot Mortgage work?
The lender’s proprietary software offers a fully digital mortgage for borrowers who prefer that option. Even if you do not want a completely digital experience, this system will allow you to validate your income, employment and assets electronically. You are going to begin by talking with a licensed lending officer by phone or at one of more than 200 locations nationwide. The lender’s mortgage calculators for purchase and refinance loans are able to be used beforehand to estimate how much you can afford to borrow.
Your loan officer will assist you select the right mortgage based on your needs, and then coordinate with all parties to submit your loan to underwriting for approval. You are able to expect to schedule an appraisal and a home inspection. Also, you may need to submit additional documents to the loan officer. After your loan is approved, closing will be scheduled and documents prepared for you to sign.
Qualify for a LoanDepot Mortgage
Even though loanDepot does not disclose loan eligibility criteria, FHA and VA home loans have less stringent credit and down payment requirements than conventional or jumbo loans. For purchase and refinance loans, several of the documents you will need to provide include pay stubs, mortgage statements and two years of employment history. Aside from that, LoanDepot will check your credit when you apply for a loan.
What Credit score do you require?
Actually, LoanDepot does not reveal minimum credit scores needed for different types of loans. Usually, you are going to need a credit score of at least 620 to qualify for a conventional loan. This score falls in FICO’s fair credit range. You are able to qualify for an FHA loan with a FICO score of 500 to 579 and a 10 percent down payment or a FICO score of at least 580 and a 3.5 percent down payment. Generally, borrowers have to meet a debt-to-income ratio of 43 percent and show they obtain sufficient income to repay the loan.
Is LoanDepot mortgage lender reputable?
According to the research, LoanDepot received 4.3 out of 5 stars from United States News & World Report. The average rating for the lenders in the home loans category is 4.3 stars. LoanDepot obtains an A-plus rating with the Better Business Bureau. Trustpilot scores loanDepot 3.5 out of 5 stars. The Consumer Financial Protection Bureau received 250 mortgage-related complaints in 2020 about loanDepot’s parent company. Most complaints related to applying for a mortgage or refinancing a mortgage trouble during the payment process, and also closing on a mortgage.
LoanDepot’s Online Features
LoanDepot utilizes a proprietary software platform named mello to provide an all-digital mortgage. The process will allow some borrowers to close in only eight days, according to the lender. This software allows you not only to validate your income, employment and assets but also track the status of your mortgage electronically. Meanwhile, a loan officer will be able to help you navigate questions by phone, online or in person at a LoanDepot office. You are able to select for an electronic closing or hybrid closing and can close in as little as an hour, according to loanDepot. After you register your account, you will be able to manage your loan from loanDepot’s loan servicing site. That includes making your payment or requesting assistance for a financial hardship.
LoanDepot’s Customer Service?
If you need help with a loan, simply you are able to call a loan officer, send an email or visit one of loanDepot’s more than 200 branches.
For new loans, you are able to reach a loan officer at 888-337-6888 from 8 a.m. to 10 p.m. (Monday through Friday) or from 11 a.m. to 6 p.m. (Saturday). Also, you are able to email customercare@loandepot.com or complete a form on the loanDepot website, and someone will contact you. From the homepage, simply you are able to click on the Contact Us under About Us and fill out the form for new loans.
For home loan servicing and payoff information: If you send your payment to Newark (New Jersey), you are able to email customerservice@loanadministration.com, visit loandepot.loanadministration.com or call at 877-420-4526. If you send your payment to Chicago and require service, you are able to call at 866-258-6572, email servicing@loandepot.com or visit loandepot.com/about/loan-servicing. Also, you are able to submit a message with the form on the LoanDepot site by clicking on the Contact Us under About Us, but ensure to choose the Home Loans tab.
