LoanDepot Mortgage Assessment 2021 – The Easy Greenback



By David McMilin

LoanDepot mortgage valuation 2021 | The simple dollar


4.3 / 5.0

SimpleScore Credit deposit 4.3


LoanDepot was founded in 2010 and has quickly grown to become one of the biggest names in the mortgage market. In 2020, the lender made more than $ 100 billion in home loans, helping more than 84,000 home buyers purchase and more than 209,000 homeowners refinancing. The lender offers an end-to-end digital process, but borrowers can also get personal assistance at more than 200 branches across the US. The lender claims it can beat the industry’s average closing times by 50 percent. In October 2021, the lender expanded beyond helping you find a mortgage with a new Grand Slam package (a nod to its sponsorship as the official Major League Baseball mortgage lender). When you hire a suitable real estate agent, secure your home loan with LoanDepot, and choose their property and contents insurance, you can be eligible for up to $ 7,000 when you close a digital home security system and a few other perks.

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Breakdown of the LoanDepot valuation result

  • Affordability: 14.75 / 15
  • Availability: 14/15
  • Borrower’s Experience: 10/10

Advantages and disadvantages

  • No fees for existing customers who refinance
  • Offers a fully digital process from application to graduation
  • More than 200 branches across the country
  • Prices and fees not available online
  • No USDA loans

Good for

Borrowers who want a digital lending experience with options to get personal help in 200+ locations across the United States


LoanDepot is accredited with an A + rating by the Better Business Bureau. Based on more than 3,400 customer reviews on Trustpilot, the lender received 3.6 stars out of five. In terms of lending, LoanDepot scored 844 out of a 1,000-point index (12 points below the industry average) in JD Power’s most recent customer satisfaction rankings. Borrowers are happier with the lender’s approach to servicing mortgages: it ranked eighth in JD Power’s 2021 customer satisfaction survey, scoring 18 points above the industry average.

Refinancing with LoanDepot

With LoanDepot you can refinance your existing mortgage. The lender offers a lifetime guarantee program: fund a loan with the company and you will never be charged a further refinancing fee for the same property. You will also be reimbursed your reviewer’s fee. If you are a new customer, you will need to ask a loan officer about the refinancing rates and costs as they are not listed online.

Verification methodology

To determine a mortgage lender’s SimpleScore, The Simple Dollar editorial team rates lenders on a scale of one to five stars based on a variety of factors related to the lender’s products and services. Simple Dollar’s partners compensate us, but our opinions are our own and partner relationships do not affect our ratings. Here is our full methodology.

Click here to read the rest of LoanDepot’s consumer reviews.

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