loanDepot​ Review

 Loan typesHome Purchase, Home Refinance
 Loan featuresFixed and adjustable rate
 Repayment Terms   Varies, depending on specific loan
 Top ProWide range of term options
 Top ConDifficult to find mortgage offers
 Best forComparing multiple loan options

Visit LoanDepot​

LoanDepot at a Glance

loanDepot offers homebuyers a portal to compare mortgage loan offers. You can access basic mortgage information without signing up for an account, and it’s easy to update your information and view additional loan offers in a simple and straightforward manner. A variety of loans are available to search, including hard-to-find 10- and 20-year fixed loans. 

The Lowdown on LoanDepot

LoanDepot is one of the few lenders in its class to offer home equity loans, and they also offer FHA and VA loans for qualifying borrowers in need of assistance. The company is also known for its rapid closing times, which is a great asset if you’re looking to get into your new home as quickly as possible.


  • Choose from fixed and adjustable rate mortgage loan offers
  • Mortgage calculators let you crunch numbers and budget
  • Schedule an appointment or chat live with a customer service rep 

Pros and Cons

  • Basic mortgage information is available without a signup
  • Viewing additional loan types is easy thanks to the simple layout
  • Plan your mortgage and budget with handy calculators 
  • Difficult to find mortgage offers without various adjustments
  • Income statements are required for some loan information

Loan Terms

You can search for a wide range of options, including 30-, 20-, 15- and 10-year fixed. You can also search for 10/1, 7/1, 5/1 and 3/1 ARM mortgages. Your results will vary depending on your information, but we were able to find 10- and 20-year terms with only moderate effort.

There is a wide spectrum of APR offers available. You can find offers as low as 2.95% and as high as 4.056%. Though the lower APRs are impressive, they are mostly limited to the 5/1 ARM offers. Unfortunately, adjustable rate mortgages aren’t ideal for every home buyer. Interest rates are consistently lower than APRs, sometimes by a wide margin. It has interest rates as low as 2.25% for adjustable rate mortgages and as low as 3.25% for fixed rate mortgages. There is a downside, though. These rates can be offered to people with credit scores of 700 or above. As you dip below 700, the rates rise rapidly. If your credit score is around 650, you’re more likely to find rates in the 4% range.

Repayment Terms

You can expect your monthly payments to be about average compared with other lenders. Using the range of parameters in the company’s Rate Quote form, you can expect numbers that are consistent with a wide range of other lenders. For example, if you lock in a 30-year fixed loan for a $300,000 home and you have a credit score of 690, you can find monthly payments as low as $898 per month. The site also has a handy Mortgage Purchase Calculator that provides further perspective on what you can expect to pay. 


The most impressive aspects of LoanDepot are the wide range of term options and the ease with which you can review and compare information. The layout on the results page is also among the best that the industry has to offer. You are limited, however, in the number of available options afforded to you, and the company is insistent upon phone correspondence after you move past the rate estimator. Look forward to some additional haggling before you secure your loan.

Physical Address

26642 Towne Centre Drive, 

Foothill Ranch, CA 92610


Visit loanDepot​


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