loanDepot Mortgage Refinance Review
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56 Customer Comments & Reviews - see all comments
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Founded in 2010, loanDepot is a national consumer lender and financial services company with headquarters in Southern California. The company matches borrowers and lenders through their online marketplace, helping customers find competitive mortgage rates and loans with ease. loanDepot currently operates in over 180 locations across the nation and is affiliated with over 1,700 licensed professionals.
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56 Customer Comments & Reviews
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They seemed to be a gvery good offer at first but then did an underhanded approach by using an unknowledgeable appraiser <someone unfamiliar with the local real-estate market> to severely undervalue the property by over 200K to give a lower loan amount. I wasted valuable time messing around with loan depot. They are not worth considering as a potential lender. Yes my local bank used a local appraiser who gave an appropriuate value t5hat was over 200k more than loan depot
Beware of wolves in sheep clothing. Just as long as you make all the right moves and no changes one is treated well. Take a step out of line and they'll come down hard.
Do not use these crooks' A $230k refi was going to cost $10.700 what a joke these MORONS are ripping people off and this was only on an enquiry! as I was thinking of Paying it off cash. Anyway so it would take my Mortgage from $230K to nearly $241k' All this to save $100 bucks a month go figure how long it would take to break even. So I then sent them an e mail to cancel the Enquiry' and guess what 2 weeks later I get a letter saying that my app had been rejected all this and i had not even put in an Application. But wait wait it gets better last week I received yet another letter going into more detail why my App was rejected nothing they had was anywhere near the truth. AS I... Read More
They are terrible at what they do zero trust very desperate.
I chose an ARM with 7 year fixed at 1.875%. Just before the loan went to underwriting I was asked to accept a revised loan package which would have obligated me to pay all closing costs at closing. This had not been discussed. Had I demanded a capitalization and amortization of the closing costs, the actual monthly payment would have increased to more than a competing quote at 2.875%. I could not get an honest explanation from them and cancelled the application.
Stay away from them!
It is a terrible company. "ALEX" WILL CALL YOU TO DEATH until he gets what he needs. Just a poor company with slackers working there
We started the loan process two months ago. Up front I asked what closing cost were to be and I was told it would be around 2500. They did not provide any of the financials until the day before we were to close. When we reviewed the documents we found the closing was 12,000. They were not transparent they were pushy into locking in a rate. I will say I found rocket mortgage more transparent and upfront about the cost. When we brought this up, it was like you flipped a switch. Everyone that was nice turned. The initail call was recorded and we were told they did not discuss all the fees and that we were right. They did not try to rectify the issue. I would not recommend there are to... Read More
Horrible experience and WORSE customer service. Entire refinance went over 4 months time frame. The loan officer Brandon Rosales and Tiffany Speaks the loan processor kept dragging me along which cost me over $600.00 between the appraisal, credit check, and 4 repeated $25.00 per month pay off requests from my current mortgage holder. This is to get a denial today which is wishy washy at best stating my collateral is not substantial...This is when the appraisal value exceeded my loan request over $100,000 . Interestingly enough, I call to gain more information about this denial and calls and emails never are received. In fact, it appears that following the initial call to pull one... Read More
Horrible. Worst customer service ever. They never return a phone call email. I have been trying to refinance for 7 months- closed on the loan a month and a half ago and now they want me to re- closed because they F'd it up the first time. Nope. I'm going with someone else. DO NOT Recommend!
Terrible experience. Very irresponsible, inefficient and deceitful. Have spent hours on the phone trying to fix their mistakes.