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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Worst experience with them.
They suck you in, and it it brutal.
I started last Aug. It is still in the air, but they say I got approved, but they need more info...
Taking me 6 months plus without any result, they keep on moving post to dig a bit more info a few weeks.
They deserve to be sued. Opportunity cost to customers.
Scam...
These people are a joke. Very unprofessional. They don't return phone calls. Scheduled an appraisal and the appraiser never showed up. After asking that we be assigned a different appraiser, we were assigned the same appraiser after almost 2 weeks of us harassing them for one. When we called the appraiser the day before he was scheduled to come to the appraisal, he informed us that he did not have on his schedule and that we was not aware. We told him we had a email from Loan Depot confirming the appointment but he told us that one other than himself schedules his appraisal appointments. The amount of the loan we are trying to refinance is about one third of the value of the home.... Read More
I was concerned that loanDepot would change my rates and delay my 2 loans based on some bad reviews on this site. I am leaving this review to indicate that loanDepot did not change the great rates they gave me on the initial loan estimate, closed my 2 loans within 60 days with excellent customer service. My loan officer was ' Tarin Golden' and he was the key to closing this loan with loanDepot because: * Gave me the best rate on my 1st call, did not waste time in doing it because he realized I had a competing offer. * Was detailed in helping me think through the recovery time of spending on discount points. * Renewed his licensing over a weekend to be the Loan Officer for my Texas... Read More
I gave them way more time than I should have. After nearly seven months, underwriting AGAIN suspended the application because they were confused, and I called it quits and went with someone else (with a better rate and lower costs and a 22 day closing).
They have very deceptive sales pitches and shady loan process I ever seen. They appraise the home value without sending the real appraiser. The sales people are not responsive when the comes time to finalize the numbers. Not transparent in their mortgage lending process and they decide when to respond or when not. They drag so much and delay intentionally to avoid and expire the 3 days of RIGHT to cancel agreement. Worst experience I've had with a lending company. They promise something and keep on adding fees later and I had multiple closing disclosures with added fees whenever they feel like, though everything was approved. I wasted so much time and money with these guys! I would... Read More
I've had it with this company. I started my refinance in late June. This should have been a walk in the park because my credit score was in the 830s, our home was worth twice what we were trying to refinance it for, we have plenty of income and assets. We got conditional underwriting approval immediately. I'm now on my second underwriting manager (the first went radio silence on me) and I thought this ship was righted. Not so. Our rate lock expires today and I'm going shopping for another company. Don't be fooled by the online portal. I had to resubmit information multiple times as stuff just goes into a "black hole". Nobody needs this stress.
I have been trying to refinance a loan for months, since May of 2020, it is now September of 2020. I keep getting un-returned calls and emails, but lots of unsolicited junk mail asking me if I'd like to refinance to a lower rate. They added all kinds of massive fees and dumped them in my lap the morning of closing, when I first purchased the house, it was either close or lose all the money, so we paid it, but they were very underhanded. They are shady, stay away if you can. DO NOT RECOMMEND!!
Terrible. They fed me with lies for 6 months, locking every month and then re-locking again, changing conditions every time, and raising points. They charged me for appraisal and have never being able to close. Now I am going with a different company and need to appraise again past 120 days. The funny thing is their sales kept calling me offering to refinance over and over again. These guys is a joke.
I have been trying to refinance since 10/25/2019 its has been 5 months and I have done all the work for them. Every time my rate lock gets to the day they come back and give excuses that they are needing something else or its the title company. And now refuse to refund my 500.00 in which they told me they would because it was their fault. But let me tell you when they start the process they tell you that you need to hurry as soon as you can and get the papers signed through email and get your appraisal done but they can not do the same. This is called bullying and not holding up their end. I would not recommend this company to anyone! Now I will have to lose the 500.00 and come out of... Read More
Deceptive sales pitches and garbage process. The sales people call your phone non-stop and when the comes time to finalize the numbers, they are worst (higher) than the banks! Garbage