Soon, loanDepot will give Americans the choice of purchase, refinance, personal and home equity loans all on one convenient tech-enabled lending platform at loanDepot.com. … Loan amounts ranging from $25,000 to $250,000 for cash-out financing or home purchase.
Keeping this in consideration, does LoanDepot charge a fee?
LoanDepot has no application fees or prepayment penalties for any of its loans, but the lender does charge a late fee if a borrower is more than 15 days late on a mortgage payment. You can call the lender to get a full breakdown of the fees you might pay on a refinance or purchase mortgage.
People also ask, how long does loanDepot take to close?
Is loanDepot FDIC insured?
LoanDepot does not appear to be FDIC-insured, most likely because they’re not a bank. If this is a concern of yours, I would ask an agent directly if the company has FDIC insurance that might apply to your loan situation.
Reputation. LoanDepot is accredited by the Better Business Bureau with an A+ rating. Based on more than 3,400 customer reviews on Trustpilot, the lender scores a 3.6 out of five stars.
To qualify for an FHA loan and FHA Streamline refinance borrowers need to:
- Be a U.S. citizen with a valid social security number.
- Have a steady employment history that demonstrates adequate income.
- Use the loan to purchase, build or refinance a primary residence.
- Ensure total debt does not exceed 43 percent of your income.
loanDepot is the best company to work for in the mortgage industry. The company offers competitive compensation, unlimited leads, and great support to ensure that each one of its LLOs has an opportunity to succeed. I’ve been with the company for over five years and my life has sincerely changed for the better.
|Lake Forest, California , U.S.
|Anthony Hsieh (CEO)
|consumer mortgages, mello mortgage technology platform
|$4.3 Billion (2020)