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LoanDepot Mortgage Overview 2021 – The Easy Greenback


SCORE: 3.9

By David McMilin

LoanDepot Mortgage Overview 2021 | The Easy Greenback

SimpleScore

3.8 / 5.0

SimpleScore LoanDepot 3.8

Overview

LoanDepot was based in 2010 and has shortly turn out to be one of many largest names within the mortgage market. In 2020, the lender originated greater than $100 billion in residence loans, serving to greater than 84,000 homebuyers with purchases and greater than 209,000 householders refinance. The lender provides an end-to-end digital course of, however debtors may also get in-person help at greater than 200 branches throughout the U.S. The lender claims it could actually beat trade common closing instances by 50 %. In October of 2021, the lender expanded past serving to you discover a mortgage with a brand new Grand Slam package deal (a nod to its sponsorship because the official mortgage supplier of Main League Baseball). For those who use a matched actual property agent, safe your property mortgage with LoanDepot and select its title and householders insurance coverage providers, you’ll be eligible for as much as $7,000 again at closing a digital residence safety system and another perks.

Breakdown of LoanDepot evaluation rating

  • Affordability: 14.75/15
  • Availability: 14/15
  • Borrower expertise: 10/10

Execs and cons

 Execs
  • Waives charges for present prospects who refinance
  • Provides a wholly digital course of from utility to shut
  • Greater than 200 branches throughout the nation
 Cons
  • Charges and charges not out there on-line
  • No USDA loans

Good for 

Debtors who desire a digital mortgage expertise with the choice to hunt in-person help at greater than 200 areas throughout the U.S.

Fame

LoanDepot is accredited by the Higher Enterprise Bureau with an A+ score. Primarily based on greater than 3,400 buyer evaluations on Trustpilot, the lender scores a 3.6 out of 5 stars. By way of originating loans, LoanDepot scored 844 out of a 1,000-point index (12 factors under the trade common) in J.D. Energy’s most up-to-date buyer satisfaction rankings. Debtors are extra happy with the lender’s method to servicing mortgages: It completed eighth in J.D. Energy’s 2021 buyer satisfaction research, scoring 18 factors above the trade common.

Refinancing with LoanDepot

You may refinance your present mortgage with LoanDepot. The lender provides a Lifetime Assure program: Finance one mortgage with the corporate, and it’ll by no means cost you a charge for an additional refinance on the identical property. Plus, you’ll get your appraisal charge reimbursed. For those who’re a brand new buyer, you’ll have to ask a mortgage officer about refinance charges and prices, as they don’t seem to be listed on-line.

Overview methodology 

To find out a mortgage lender’s SimpleScore, The Easy Greenback’s editorial workforce charges lenders on a scale of 1 to 5 stars based mostly on quite a lot of elements referring to the lender’s services. The Easy Greenback’s companions compensate us, however our opinions are our personal, and accomplice relationships don’t affect our evaluations. Right here is our full methodology.

Click on right here to learn the remainder of LoanDepot’s client evaluations.



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