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.
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.
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?
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.