LoanDepot Review

Executive Summary

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 the rare and hard-to-find 10- and 20-year fixed loans. 

Visit LoanDepot

 LoanDepot Highlights

  • 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 


  • Basic mortgage information is available
    without a signup
  • Viewing additional loan types is easy thanks
    to the simple layout
  • Choose various fixed mortgages ranging from 10 to 30 year
  • Plan your mortgage and budget with handy calculators 


  • Difficult to find mortgage offers without
    various adjustments
  • Few results were returned even with a lot of options to update
  • Income statements are required for some loan information

Monthly Payments

You can expect your monthly payments to be about average. We entered a wide range of parameters into the company’s Rate Quote form, and in each case we were presented with numbers that were consistent with a wide range of other lenders we’ve reviewed. 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. 


There is a wide spectrum of APR offers available. We encountered offers as low as 2.95% and as high as 4.056%. Though the lower APRs were extremely impressive, they were mostly limited to the 5/1 ARM offers. Unfortunately, adjustable rate mortgages aren’t ideal for every homebuyer.

Interest Rate

Interest rates are consistently lower than APRs, sometimes by a wide margin. We found 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. We were only able to find these rates when inputting a credit score 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 neighborhood of 4%.

Loan Term

loanDepot offers more loan term options than we have found with any other lender. 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.

Loan Features

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.


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. So look forward to some additional haggling before you secure your loan.


The most impressive aspects of loanDepot are the wide range of term options and the ease with which you can review and compare information.

Physical Address

26642 Towne Centre Drive,

Foothill Ranch, CA 92610


Advertising Disclosure

This site is a free online resource that strives to offer helpful content and comparison features to its visitors. Please be advised that the operator of this site accepts advertising compensation from companies that appear on the site, and such compensation impacts the location and order in which the companies (and/or their products) are presented, and in some cases may also impact the rating that is assigned to them. To the extent that ratings appear on this site, such rating is determined by our subjective opinion and based on a methodology that aggregates our analysis of brand market share and reputation, each brand's conversion rates, compensation paid to us and general consumer interest. Company listings on this page DO NOT imply endorsement. We do not feature all providers on the market. Except as expressly set forth in our Terms of Use, all representations and warranties regarding the information presented on this page are disclaimed. The information, including pricing, which appears on this site is subject to change at any time.

Visit Site