What You Need To Know About loanDepot

What You Need To Know About loanDepot

Who is loanDepot?

loanDepot is one of America’s best-known mortgage lenders. Today, loanDepot is the fifth-largest lender in the country, offering both fixed-rate and adjustable-rate mortgages to borrowers. Additionally, the company offers home equity loans, VA loans, Federal Housing Administration loans, HARP loans, and Jumbo loans, funding more than $125 billion since their founding in 2010. At launch, the company offered a portfolio of mortgage lending products to borrowers, however, the company has further expanded its offerings into personal loans within the last two years. loanDepot is helmed by CEO and Chairman Anthony Hsieh, who founded loanDepot after more than three decades’ experience in lending.
Across the country, loanDepot employs a team of more than 6,000, including more than 1,700 licensed lending officers. The company operates in all 50 states, and has more than 180 local lending store locations nationwide. loanDepot is a non-traditional lender in the sense that they’re a nonbank lender who makes their loans available to borrowers online. Borrowers can select a mortgage term from 10 up to 30 years.

What can loanDepot offer me?

Personal loans
Personal loans can help provide you with funds available to make changes to your life. If you’re seeking personal or unsecured loans, you can apply online and get approved without going to the lender, saving you time and helping you acquire your funds faster without additional delays. However, make sure you’re aware of your overall credit picture and current credit scores to help you understand what terms you may be offered. Through a personal loan from loanDepot, you may be able to borrow up to $35,000 to help you fund an array of projects or experiences.

Mortgage loans
This company is widely known for its comprehensive array of mortgage lending products. loanDepot offers fixed and adjustable rates for either home refinances or the purchase of your next home. In addition, the company offers home equity loans to qualified borrowers, as well. loanDepot’s mortgage lending portfolio includes FHA loans, VA guaranteed mortgages, and renovation lending options designed to suit diverse needs and a wide variety of challenged borrowers.

Home equity loans
If you’re considering a home equity loan, this company offers home equity loans ranging from $25,000 to $250,000. loanDepot offers fixed-term loans of up to 15 years, while a second mortgage or home equity loan cannot affect the interest rate of the first mortgage. Just one good thing about loanDepot’s home equity loans is that the transactions are able to be quickly closed, unlike other, more traditional lenders.