Skip to content
Some companies pay us when you click their button. Paying partners are labeled and can be listed first. Some companies pay us. Partners are labeled. Advertiser disclosure
Reviews A to Z For Brands

loanDepot Review: Costs, Rates & Legitimacy

loanDepot is a licensed national mortgage lender (NMLS 174457) with an A+ BBB rating and a fee waiver on future refinances, but it doesn't publish rates or fees and it's fighting a steering lawsuit.

By Diogo Almeida, Contributor. See their work.Published June 18, 2026Updated October 16, 2026This page was compiled from primary sources: company disclosures and terms, the BBB and regulators. Our ratings method is described on the methodology page.
loanDepot Costs, Rates & Legitimacy BestGuide rating
3.7/5 BestGuide rating: 3.7 out of 5. Set by our editors from reputation, services, transparency, customer satisfaction and scale. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner.

Best for: Borrowers who want a large national lender with many loan types and expect to refinance again, so the Lifetime Guarantee has real value.

Compare mortgage lenders
On this page14 sections
  1. Ratings and complaints
  2. loanDepot vs. competitors
  3. Pricing
  4. Step by step
  5. loanDepot legitimacy and licensing
  6. loanDepot rates, fees and the Lifetime Guarantee
  7. What loanDepot offers
  8. How loanDepot Works
  9. loanDepot complaints and how to avoid problems
  10. The 2024 loanDepot data breach
  11. Rules that protect you
  12. What customers say
  13. Alternatives
  14. FAQ
Our verdict

loanDepot's standout is the Lifetime Guarantee, which waives lender fees when you later refinance the same loanDepot loan directly, with conditions. It is a legitimate, licensed mortgage lender (NMLS 174457) that offers purchase loans, refinances, FHA, VA, jumbo, 203(k) renovation loans, HELOCs and home equity loans up to $750,000. The tradeoffs: it doesn't publish rates, origination fees or credit minimums online, a January 2024 cyberattack exposed data on nearly 17 million people (settled for $25 million in 2025), and a federal judge in Maryland let a class action alleging borrowers were steered into costlier loans move forward in August 2026. Get Loan Estimates from at least two other lenders on the same day before you commit.

License
loanDepot.com, LLC, NMLS 174457; HUD, VA and USDA approved lender; state licenses listed on its licensing page3
Loans offered
Fixed and adjustable purchase loans, FHA, VA, jumbo, 203(k), rate-and-term and cash-out refinance, VA streamline (IRRRL), HELOC and home equity loans up to $750,0001
Personal loans
Not made by loanDepot: its personal loan page passes your application to Upgrade4
Rates and fees
Not published as a rate sheet or fee schedule; you get a quote and Loan Estimate after you apply1
Lifetime Guarantee
Lender fees waived on a future refinance of the same loanDepot loan; not usable within 12 months, excludes purchases, home equity loans and third-party applications2
BBB
A+, accredited since November 4, 2014; 345 complaints in the last 3 years and 612 customer reviews5
CFPB complaints
853 complaints against parent LD Holdings Group, LLC from October 12, 2023 to October 12, 2026; 632 about mortgages; 833 answered on time7
Data breach
January 3 to 5, 2024 cyberattack affected nearly 17 million people; $25 million class settlement got final approval in August 20258

loanDepot ratings and complaint records

  • BBB A+ Accredited since November 4, 2014; 345 complaints in the last 3 years; 612 customer reviews View source
  • Trustpilot 4.0 out of 5 4,677 reviews; 69% five star and 20% one star; replies to 98% of negative reviews View source
  • CFPB complaints 853 LD Holdings Group, LLC, October 12, 2023 to October 12, 2026; top issue: trouble during the payment process (291) View source

Pros

  • HUD, VA and USDA approved, with a wide loan menu including 203(k) and jumbo
  • Lifetime Guarantee waives lender fees on a later refinance of the same loan
  • HELOCs and home equity loans up to $750,000
  • A+ BBB rating and 4.0 out of 5 on Trustpilot across 4,677 reviews

Cons

  • No published rates, lender fees or credit minimums
  • 2024 cyberattack exposed data on nearly 17 million people
  • Pending class action alleges loan officers steered borrowers into costlier loans
  • Reviewers report persistent marketing calls
  • Personal loans are referred to Upgrade, not made by loanDepot

Best for: Borrowers who want a large national lender with many loan types and expect to refinance again, so the Lifetime Guarantee has real value.

Skip it if: You want to see rates and fees online before talking to anyone, or you plan to refinance only once and just want today's lowest cost.

loanDepot vs. competitors

loanDepot compared with competitors
CompanyNMLS IDPublished refinance credit minimumNotable policyNext step
loanDepot 174457Not publishedLifetime Guarantee waives lender fees on a future refinance, with conditions
Rocket Mortgage 3030580 rate-and-term; 620 cash-outPublishes refinance credit minimums; offers VA IRRRL Read review
Better Mortgage 330511620 conventional; 700 jumboPublishes typical closing costs; no prepayment penalties Read review
Guild Mortgage 620 conventional; 540 FHA and VALow published minimum on government loans Read review

Mortgage lenders we reviewed

  1. loanDepot This review BestGuide rating: 3.7 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Borrowers who want a large national lender with many loan types and expect to refinance again, so the Lifetime Guarantee has real value.
  2. Mortgage Research Network BestGuide rating: 4.5 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Homebuyers who want free mortgage news, rate averages and calculators before talking to a lender.
    Read review
  3. NBKC Bank BestGuide rating: 4.2 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: VA borrowers and online-minded buyers who want a bank lender with low fees and a written closing guarantee.
    Read review
  4. Better BestGuide rating: 4.1 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Borrowers with solid credit who want to handle a purchase or refinance online and will compare Better's Loan Estimate with at least two other lenders.
    Read review
  5. Chase Bank BestGuide rating: 4.2 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: People who want a big branch network and all their accounts in one app, and who can meet a direct deposit or balance waiver.
    Read review
  6. Guild Mortgage BestGuide rating: 4.1 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: First-time or lower-credit buyers who want a local loan officer and help with the down payment through FHA, VA, USDA or assistance programs.
    Read review
  7. Veterans United BestGuide rating: 4.1 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Veterans and service members buying with a VA loan who want a lender that specializes in VA rules and posts its rates openly.
    Read review
  8. New American Funding BestGuide rating: 4.0 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Borrowers with lower credit, self-employed income or unusual properties who want many loan options and a loan officer to guide them.
    Read review
See all mortgage lenders, ranked

loanDepot pricing at a glance

What you pay at loanDepot, from its own pages, October 20262

Cost What loanDepot publishes
Interest rate Not published as a fixed rate sheet; quoted after you share your scenario
Origination and lender fees Not published; shown on your Loan Estimate
Future refinance of a loanDepot loan Lender fees waived under the Lifetime Guarantee after 12 months, if you apply directly
HELOC refinance Up to a half point waiver of closing costs under the Lifetime Guarantee
Third-party costs Appraisal, title, recording and discount points are not waived
Servicing fees Published as state fee schedules (PDFs) on its servicing fee page

Federal rules require a Loan Estimate within three business days of your application. Compare the origination charges in section A of each Loan Estimate.

loanDepot, step by step

  1. Talk to a loan officer

    Apply online or call (888) 983-3240. loanDepot works through licensed lending officers rather than a self-serve rate table.

  2. Get your Loan Estimate

    After you apply you receive a Loan Estimate with the rate, points and lender fees. Ask for one from two or three other lenders on the same day.

  3. Lock and submit documents

    Upload income, asset and property documents in the loanDepot portal or app, then lock your rate.

  4. Close

    You get a Closing Disclosure at least three business days before closing. Compare it line by line to your Loan Estimate.

  5. Servicing and future refinances

    loanDepot may service the loan itself; servicing questions go to (866) 258-6572. If rates fall later, ask about the Lifetime Guarantee before refinancing elsewhere.

loanDepot legitimacy and licensing

Yes. loanDepot.com, LLC is a licensed mortgage lender, NMLS 174457, headquartered at 6561 Irvine Center Drive in Irvine, California. Its licensing page lists HUD (FHA), VA and USDA lender approvals and licenses state by state. Anthony Hsieh founded the company in 2010; he returned as permanent CEO in July 2025 after Frank Martell left in June 2025.

The BBB rates loanDepot A+ and has accredited it since November 2014, with 345 complaints in three years. In the CFPB database, its parent LD Holdings Group, LLC drew 853 complaints from October 12, 2023 to October 12, 2026, 632 of them about mortgages. The most common issue was trouble during the payment process (291), followed by credit reporting errors and borrowers struggling to pay. The company answered 833 of the 853 on time.

Two issues to weigh. First, a cyberattack on January 3 to 5, 2024 exposed personal data of nearly 17 million people; a federal court in California gave final approval to a $25 million settlement in August 2025. Second, borrowers filed a class action in Maryland federal court in July 2025 alleging loanDepot tied loan officer pay to borrower costs and steered retail borrowers into pricier loans. In August 2026 the judge denied loanDepot’s motion to dismiss, so the case moves to discovery. These are allegations, not findings.

loanDepot rates, fees and the Lifetime Guarantee

loanDepot does not post a fee schedule or credit minimums for its loans, and its rate pages are built around a quote. Your real costs appear on the Loan Estimate. A standard form lenders must send within three business days of your application that shows the rate, payment and closing costs. Compare mortgage lenders, which the lender must send within three business days of your application. Compare section A (Origination charges. The fees a lender charges for making the loan, shown in Section A of the Loan Estimate. Compare mortgage lenders) and the points line across lenders on the same day.

The Lifetime Guarantee is the one published cost benefit. If you later refinance the same loanDepot loan on the same property and apply directly, loanDepot waives all lender fees; for a HELOC refinance it offers up to a half point waiver of closing costs. It cannot be used within 12 months for guarantees issued after January 1, 2019, it is not transferable, and it does not cover purchases, home equity loans, renovation loans, bond or down payment assistance programs, or loans applied for through third parties such as LendingTree. Third-party costs and Discount points. Upfront fees you pay at closing to lower your interest rate. Compare mortgage lenders still apply, and you must qualify again.

Checked the fees?Compare all

What loanDepot offers

loanDepot makes fixed and adjustable rate purchase loans, FHA loans (as little as 3.5% down), VA loans, jumbo loans and FHA 203(k) renovation loans. Refinances include rate-and-term, cash-out and the VA streamline (IRRRL). Its home equity lineup includes HELOCs and home equity loans of up to $750,000.

The personal loans on loandepot.com are not loanDepot loans. The page says applications go directly to Upgrade and are not received or stored by loanDepot, so treat that as an Upgrade loan with Upgrade’s terms.

How loanDepot Works

The mortgage process with loanDepot typically begins online or at one of its 200+ physical branches. Prospective borrowers start by completing a digital application on the loanDepot website, which requires personal and financial information. This step is necessary to see any customized mortgage rates, as the company does not publish rates publicly.

After the initial application, a loan officer is assigned to guide you through the next steps. This includes uploading necessary documents like tax returns, pay stubs, and bank statements through a secure online portal. The loan officer acts as the primary point of contact for questions and updates throughout the underwriting process.

Once all documents are verified and the loan is approved, the loanDepot team coordinates with a title company to schedule the closing. While some customers report fast turnarounds, with closings in as little as three weeks, others cite communication delays with loan officers. The experience can vary depending on the specific branch and individual loan consultant assigned to your file.

What customers say about loanDepot

Recurring themes across the review sites and complaint records listed above, not individual quotes.

Common praise

  • Knowledgeable, patient loan officers
  • Fast, simple online application and document upload
  • Quick replies from the loan team during processing

Common complaints

  • Repeated marketing calls after asking to be removed
  • Delays and slow communication from some staff during processing
  • Payment processing and escrow problems after closing
  • Rate or fee changes between quote and closing

loanDepot complaints and how to avoid problems

Trustpilot rates loanDepot 4.0 out of 5 across 4,677 reviews, with 69% five star and 20% one star. Happy reviewers credit specific loan officers and a quick online process. Unhappy ones describe repeated sales calls from different numbers after asking to stop, slow replies from some staff, and paperwork errors. CFPB complaints lean toward servicing: payment processing, escrow and credit reporting after the loan closes.

  • Get at least three Loan Estimates on the same day and compare the APR. The annual percentage rate, which adds certain fees to the interest rate so you can compare the cost of loans with different fees. Compare mortgage lenders and section A fees, not only the rate.
  • Ask whether the loan officer’s pay changes with the rate or fees you accept. Federal rules bar paying loan officers based on loan terms.
  • Put a rate lock in writing and note its expiration date.
  • Ask to be placed on loanDepot’s internal do-not-call list if you don’t want follow-up calls.
  • If a servicing problem isn’t fixed, send a written notice of error to the servicing address, then file with the CFPB.

The 2024 loanDepot data breach

loanDepot disclosed a cyberattack that took place January 3 to 5, 2024. Nearly 17 million people received breach notices. The class action in the U.S. District Court for the Central District of California settled for $25 million in payments, which the court valued at over $42 million with credit monitoring and security upgrades. Final approval came in August 2025. If you got a notice, freeze your credit at Equifax, Experian and TransUnion (free) and watch your mortgage account for unexpected changes.

Rules that protect you

Mortgage lenders must give you a Loan Estimate within three business days of an application and a Closing Disclosure at least three business days before closing. The Truth in Lending Act’s loan originator rules bar paying loan officers based on a loan’s rate or terms and bar steering you to a worse loan to earn more. You can check any lender or loan officer on NMLS Consumer Access, and file complaints with the CFPB or your state mortgage regulator.

Still deciding?Compare all

Alternatives to loanDepot

  • Your current servicer or a local credit union

    A good second quote, and an FHA streamline or VA IRRRL through your existing lender can be cheap and quick.

  • Rocket Mortgage BestGuide rating: 4.2 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner.

    Better if you want published credit minimums before you apply.

    Read review
  • Better BestGuide rating: 4.1 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner.

    Better if you want an online lender that shows typical closing costs up front.

    Read review
  • HUD-approved housing counselor

    Free or low-cost help reading Loan Estimates and comparing offers, with nothing to sell you.

See all mortgage lenders, ranked

loanDepot reviews

Written by readers, read by our moderators, never edited by the company.

No reader reviews yet. If you have used loanDepot, yours will be the first.

Write a review
How do I know I can trust these reviews about loanDepot?
  • Every reviewer confirms an email address before a review can publish.
  • Our moderators read every review before it publishes.
  • Companies can respond publicly but can never edit, hide or remove a review.
  • Paying BestGuide never changes the reader rating or which reviews publish.

Read the review guidelines

Frequently asked questions

Is loanDepot a legitimate lender?

Yes. loanDepot.com, LLC is licensed under NMLS 174457 and approved by HUD, VA and USDA. The BBB rates it A+. It does face a pending steering class action and had a large data breach in 2024.

Is loanDepot a good mortgage lender?

It offers most loan types and a useful future refinance fee waiver, and Trustpilot reviewers rate it 4.0 out of 5. It does not publish rates or fees, so you can only judge its price by comparing Loan Estimates.

Does loanDepot have high fees?

loanDepot does not publish its lender fees. Your origination charges appear in section A of the Loan Estimate. Compare that section with other lenders' estimates from the same day.

What is the loanDepot Lifetime Guarantee?

It waives lender fees when you refinance the same loanDepot loan directly with loanDepot later. It can't be used within 12 months, doesn't cover points or third-party costs, and excludes purchases, home equity loans and loans that came through sites like LendingTree.

What credit score does loanDepot require?

loanDepot does not publish credit minimums. FHA loans in general allow lower scores than conventional loans, so ask the loan officer which programs fit your score.

Was loanDepot hacked?

Yes. A cyberattack on January 3 to 5, 2024 exposed data on nearly 17 million people. A $25 million class settlement received final court approval in August 2025.

What is the loanDepot class action lawsuit about?

Borrowers sued in Maryland federal court in July 2025, alleging loanDepot tied loan officer pay to borrower costs and steered retail borrowers into more expensive loans. In August 2026 a judge denied loanDepot's motion to dismiss. The claims are unproven.

Does loanDepot offer personal loans?

Not directly. Its personal loan page sends your application to Upgrade, and loanDepot says it does not receive or store that information.

Does loanDepot offer HELOCs?

Yes. loanDepot offers HELOCs and home equity loans, and says you can access up to $750,000 of your equity.

Who owns loanDepot?

loanDepot is publicly traded. Founder Anthony Hsieh became permanent CEO again in July 2025.

Sources (14)

Facts on this page come from company websites, government agencies and regulators, checked on the dates shown. Editorial standards

  1. loanDepot: Home page and products (accessed October 12, 2026)
  2. loanDepot: Lifetime Guarantee (accessed October 12, 2026)
  3. loanDepot: State licensing (accessed October 12, 2026)
  4. loanDepot: Personal loans brought to you by Upgrade (accessed October 12, 2026)
  5. BBB: loanDepot business profile (accessed October 12, 2026)
  6. Trustpilot: loanDepot reviews (accessed October 12, 2026)
  7. CFPB: Consumer Complaint Database, LD Holdings Group, LLC (accessed October 12, 2026)
  8. Bloomberg Law: LoanDepot resolves data breach class suit affecting 17 million (August 28, 2025) (accessed October 12, 2026)
  9. HousingWire: Maryland judge lets loanDepot LO comp steering class action proceed (August 11, 2026) (accessed October 12, 2026)
  10. Orange County Business Journal: loanDepot names Hsieh as permanent CEO (July 28, 2025) (accessed October 12, 2026)
  11. loanDepot: Refinance (accessed October 12, 2026)
  12. loanDepot: Servicing fee schedules (accessed October 12, 2026)
  13. CFPB: Loan Estimate explainer (accessed October 12, 2026)
  14. CFPB: Find a housing counselor (accessed October 12, 2026)
How we make money

BestGuide is free to use. Some companies we review pay us when you visit their site or contact them through us. Compensation may influence which companies we feature and their order. It doesn't change what our reviews say. Advertising disclosure