Mortgages Reviews

I applied for a loan with loan depot because my existing lender was offering me a refinance rate and closing costs higher than loan depot even though i have great credit and have never been late in a payment in the 10 years i was with them. I was very nervous after reading the reviewsof loan depot  but to my suprise the process and outcome were great (settled within a month). My Loan processor Steven Lee was amazing. He kept in communication with me every step of the way, was professional , well informed and was available day or night to answer my questions or concerns. After all the new mortgage banking regulations, dont expect getting a great rate mortgage to be a super easy process. You will have to provide documentation every step of the way. It is supposed to be that way. All these no doc or lack of document loans are how we got in this banking crisis to begin with. Also, know realistically what your home is worth and get it in the best shape possible before going into the process. Websites like Zilla can give you a good idea of what homes like yours are worth and be conservative so you aren't disappointed.  I found the rates, service, communication, and final outcome to be exactly what I wanted. And I was able to save thousands of dollars in closing costs and 10's of thousands in rate over the loan because I refinanced  with loan depot.  By the way my 495.00 was credited at closing as promised!

We just finished processing our loan application with Loan Depot, Steve Poltl was our account manager and he did a fantastic job getting our paperwork through and our loan approved in only 33 days.  I highly recommend this company to anyone who is looking for a home loan. The process was fast and easy.  Steve stayed on top of communications with us, answering any of our questions or our emails usually within 30 minutes or less.  Excellent customer service, excellent experience.     

 Lowest mortgage rate ever and excellent service! I was purchasing a house and I have not heard about this lender before so I checked their BBB Online ratings and researched their bank lender licensing. All looked good so I went ahead and applied (with caution). I was minutes passed their daily rate change window which would have increased my 15-yr fixed rate and would have also cost me $495, as the rates went up. They were able to waive my $495 and still gave me the lower rate! Loan Depot was very responsive during my application process via email and phone communications. As we headed toward closing, a couple of last minute issues arose from underwriting and funding. Loan Depot made sure to contact me right away and advised me of what needed to be done. They were there every step of the way. Funding was finally completed and I was on my way to enjoying my new home and the great rates (and not to mention at a very competitive closing cost). I am so glad to have found Loan Depot. And their staff -- Carrie D. and Ismael C. -- were terrific! Thanks Loan Depot!

Lowest mortgage rate ever and excellent service!
I was purchasing a house and I have not heard about this lender before so I checked their BBB Online ratings and researched their bank lender licensing.  All looked good so I went ahead and applied (with caution).  I was minutes passed their daily rate change window which would have increased my 15-yr fixed rate and would have also cost me $495, as the rates went up. They were able to waive my $495 and still gave me the lower rate!  Loan Depot was very responsive during my application process via email and phone communications. As we headed toward closing, a couple of last minute issues arose from underwriting and funding.  Loan Depot made sure to contact me right away and advised me of what needed to be done. They were there every step of the way. Funding was finally completed and I was on my way to enjoying my new home and the great rates (and not to mention at a very competitive closing cost).  I am so glad to have found Loan Depot.  And their staff -- Carrie D. and Ismael C. -- were terrific!  Thanks Loan Depot!

Lowest mortgage rate ever and excellent service!
I was purchasing a house and I have not heard about this lender before so I checked their BBB Online ratings and researched their bank lender licensing.  All looked good so I went ahead and applied (with caution).  I was minutes passed their daily rate change window which would have increased my 15-yr fixed rate and would have also cost me $495, as the rates went up. They were able to waive my $495 and still gave me the lower rate!  Loan Depot was very responsive during my application process via email and phone communications. As we headed toward closing, a couple of last minute issues arose from underwriting and funding.  Loan Depot made sure to contact me right away and advised me of what needed to be done. They were there every step of the way. Funding was finally completed and I was on my way to enjoying my new home and the great rates (and not to mention at a very competitive closing cost).  I am so glad to have found Loan Depot.  And their staff -- Carrie D. and Ismael C. -- were terrific!  Thanks Loan Depot!

My wife and I were very pleased with the response and progress of the loan application process.  We received and excellent rate on top of the good service.    Father of four. 

They said they would match any GFE I gave them - but they didn't.  Fortunately I didn't sign anything with them!

 I agree with $495 being a waste since you need to pay up front, and get recorded accepting the terms as read by them.  I've learned to have all the numbers in front of me prior to paying a dime. When I needed help supporting an issue I had two choices, take the loan on different terms or shake hands and move on. I wrote a letter explaining my posistion and issues and asked for a response and got no formal response other than "taking the loan on the new terms was my best option."  There are other businesses out their. Stay LOCAL! 

Heck of a rate!  went through Bankrate and got a smoking deal on a 30 year fixed.  The initial process through lock in went just fine.  Will Quijano was great to work with.  Now I have really good credit 790+, 64% LTV refi.  They worked with me to match re-title fees and the GFE actually ended up a bit better than original.  (not that you should ever expect that)

I couldn't give them 5 stars based on the paper work and processing pieces.  I did have to re-send several items that I sent originally.  Do everything digitally, scan your items in and have them ready to go.  Underwriting went over things with a fine tooth comb, so be ready to provide additional details on W2/1040's/assets etc. 

The second reason I couldn't give 5 stars was based on the closing to funding time.  We closed without a hitch, but then it seemed to stall.  If I was buying a house I would have been ticked off as it didn't fund after the three day right to cancel.  That is when my mind started to wonder, and I started really reviewing all of the negatives on this board and others.  I started wondering what was my recourse if they didn't fund?  I was stuck in limbo, having agreed to a loan but not having it fund.  Every time I inquired, I was told it is approved and should fund any day.  To me this is something they could really improve on.  It was another week before it funded!  I have never had that happen before.  It took me very very close to the lock expiration.  That stress I could have done without!

Couple of things for those griping about the 495 lock fee.  This is not a bait/switch, if you don't' qualify, then re-look at the options.  If you don't have perfect credit, and low LTV, then you shouldn't expect to get the best rate out there.  That being said, the mortgage banker/broker should be able  to put you in the correct product too, and if they aren't that is on them. 

Overall I would recommend them with the above concerns highlighted so that you know what you are getting into. 

Paid the lock in fee and they called back to say they could not get the quoted rate. 

Honestly no problems. From start to finish. I would recommend this company.