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Key Statistics
Total Originations
1,159
HMDA 2023
Avg Loan Amount
$0
National average
Denial Rate
0%
National average
States Active
1
With HMDA filings
At a Glance
Min Credit Score
620
Loan Types
Conventional, FHA, VA, Jumbo
Notable Features
- Lifetime guarantee (no lender fees on future refis)
- Mello Smartloan digital platform
- Licensed in all 50 states
HMDA Lending Data
Top states by refinance origination volume. Source: HMDA 2023
| State | Originations |
|---|---|
| WV | 1,159 |
Pros and Cons
Pros
- +Lifetime guarantee waives lender fees on future refinances
- +Available nationwide with local loan officers
- +Solid digital application experience
Cons
- -Higher rates reported compared to some online lenders
- -Customer service ratings have fluctuated
- -No USDA loans
Frequently Asked Questions
Is loanDepot good for refinancing?
loanDepot is rated 4/5 on Wirly and is best suited for borrowers looking for repeat customers. They processed 1,159 refinance originations nationally in 2023, according to HMDA data.
What credit score do I need for loanDepot?
loanDepot requires a minimum credit score of 620 for mortgage refinancing. However, better rates are typically available for borrowers with scores of 740 or higher.
What loan types does loanDepot offer?
loanDepot offers Conventional, FHA, VA, Jumbo refinance loans. VA loans are available for eligible military members and veterans.
What is loanDepot's denial rate?
loanDepot's national refinance denial rate is 0%, based on 2023 HMDA data. Denial rates vary by state and borrower profile.
How does loanDepot handle complaints?
CFPB complaint data for loanDepot can be found on the Consumer Financial Protection Bureau's complaint database.
Ready to explore loanDepot?
Visit their site to check current rates, or use our tools to compare.
This review is for educational purposes only and does not constitute financial advice. HMDA data sourced from the CFPB. Complaint data from the CFPB Consumer Complaint Database. Wirly is not a lender or mortgage broker. See our methodology.