Is LoanDepot a legitimate company?

LoanDepot is accredited by the Better Business Bureau with an A+ rating. Based on more than 3,600 customer reviews on Trustpilot, the lender scores a 3.7 out of five stars.

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In this manner, does loanDepot do home equity line of credit?

Lines of credit work more like a credit card, with a rate that is adjustable usually based on the Prime Rate. loanDepot offers fixed-rate home equity loans with repayment terms up to 15 years. For more information, speak with a licensed loan officer today.

Then, does loanDepot do home equity? Soon, loanDepot will give Americans the choice of purchase, refinance, personal and home equity loans all on one convenient tech-enabled lending platform at … Up to 95 percent loan-to-value for certain borrowers or transactions.

Beside this, does LoanDepot have fees?

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.

How long does LoanDepot take to close?

Once the loan documents are signed and delivered back to us, your loan will close in 3 to 5 days. If you are pulling cash out of the equity in your home, you will receive your funds 1 to 3 days after your loan closes. For more details, please visit our Refinance process Refinance process link page.

How long has LoanDepot been in business?


Is LoanDepot a Fortune 500 company?

loanDepot | 2021 Fortune 500 | Fortune.

Is LoanDepot a lender or broker?

As a direct lender, loanDepot says it can deliver low mortgage rates (depending on your credit score) and get you to the closing table 50% faster than the industry average. The company offers several types of mortgage loans, including conventional mortgage loans, jumbo loans, FHA loans, and VA loans.

Is LoanDepot a lender?

Advertising considerations may impact where offers appear on the site but do not affect our editorial independence. LoanDepot is a mortgage lender that operates nationally with more than 200 branches and delivers both a digital experience and face-to-face service.

What company owns LoanDepot?

LoanDepot, sometimes stylized as loanDepot, is a Lake Forest, California-based holding company which sells mortgage and non-mortgage lending products.

Type Public
Industry Mortgage lending
Founded 2010
Founder Anthony Hsieh
Headquarters Lake Forest, California , U.S.

What credit score does LoanDepot use?

Borrowers need a minimum FICO score of 580 to qualify for a 3.5 percent down payment. If your FICO score is between 500 and 579, a 10 percent down payment is required.

What LOS does loanDepot use?

LoanSphere Empower®

Who did Loan Depot merge with?

It was merged with IAC/Interactive subsidiary LendingTree in 2004. Hsieh’s most recent disruption of the lending landscape is loanDepot, LLC, founded in 2010.

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