loanDepot, LLC

loanDepot is one of the larger non-bank mortgage lenders in the United States, offering both home purchase mortgages and refinancing products through a combination of online applications and a network of physical branches and loan officers.

loanDepot commonly offers conventional loans, FHA loans, VA loans for eligible veterans and active military, jumbo loans for higher loan amounts, and USDA loans for qualifying rural properties. This range of products makes it suitable for a variety of borrowers and purchase situations.

As a lender with both digital capabilities and physical locations, loanDepot may work for borrowers who want an online application experience while still having the option of speaking with a local loan officer in person. Branch availability varies by region.

Before choosing loanDepot or any mortgage lender, comparing multiple offers is important. The factors to evaluate include the interest rate, the annual percentage rate which includes fees, estimated closing costs, any discount points, origination charges, and the lender's expected processing time. Small differences in rate or fees can amount to significant sums over the life of a mortgage.

loanDepot has also offered what it calls a lifetime guarantee on certain refinances, which waives lender fees on a future refinance for existing customers. The value of this depends entirely on whether refinancing conditions are favorable in the future and should not be the primary reason to choose a lender.

For VA loan borrowers, VA purchase and refinance loans are available. These are limited to eligible veterans, active-duty service members, and qualifying surviving spouses, and typically require no down payment or private mortgage insurance.

Comparing loanDepot's Loan Estimate document with estimates from other lenders is the most reliable way to evaluate the true cost of a mortgage before committing.