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LoanDepot Mortgage Review 2026
Last updated on May 21, 2026
Written by
Lead Writer & Content StrategistCo-written by
Contributing EditorWritten by
Lead Writer & Content StrategistCo-written by
Contributing EditorMany or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Why trust NerdWallet
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Our Take
3.5
Home loans overall
NerdWallet rating
The Nerdy headline:
LoanDepot, one of the country’s largest mortgage lenders, offers a wide range of mortgages, including the harder-to-find FHA 203(k) renovation loan. Mortgage rates and fees tend to be on the higher side compared with other lenders we surveyed, but that’s not easy to discover: LoanDepot doesn’t post rates on its website. This lender is most likely to appeal to those who want a speedy online application.
Jump to:Full Review
loanDepot: NMLS#174457
Min. credit score
620
Min. down payment
3%
Loan types and products
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, Home Equity
Pros
- Efficient digital application process.
- Wide variety of loan types, including specialty mortgages.
- Multiple options to fund home renovations, including construction loans and equity products.
Cons
- Average interest rates and fees are slightly higher than other lenders we surveyed.
- No mortgage rates posted online.
- Recent headlines may have damaged consumer trust.
Lender | Min. credit score | Min. down payment | |
|---|---|---|---|
 Visit Lenderat NBKC at NBKC | 620 | 3% | Visit Lenderat NBKC at NBKC |
 Visit Lenderat New American Funding at New American Funding | N/A | N/A | Visit Lenderat New American Funding at New American Funding |
 Visit Lenderat Rocket Mortgage, LLC at Rocket Mortgage, LLC | 580 | 3.5% | Visit Lenderat Rocket Mortgage, LLC at Rocket Mortgage, LLC |
 4.0 Visit Lenderat GO Mortgage at GO Mortgage | 620 | 3% | Visit Lenderat GO Mortgage at GO Mortgage |
 Visit Lenderat Veterans United at Veterans United | 620 | 0% | Visit Lenderat Veterans United at Veterans United |
Full Review
At a glance: LoanDepot mortgage options
LoanDepot is a nonbank lender based in Irvine, CA. Mortgages are available in all 50 states, as well as Washington, D.C. LoanDepot offers a large selection of harder-to-find mortgage types, including the FHA 203(k) renovation loan.
🏠 Common mortgages
• Fixed- or adjustable-rate
• Conventional
• FHA
• VA
• Jumbo
• Rate-and-term refinance
🔑 Specialty loans
• Energy-efficient mortgages
• Interest-only loans
• Co-op mortgages
• Nonwarrantable condo
• Loans for vacation/second homes
• Mortgages for self-employed borrowers
• Reverse mortgages
• Doctor loans
• ITIN loans
• Renovation loans
• Conventional loans for manufactured homes
💵 Home equity
• HELOC
• Home equity loan
• Cash-out refinance
LoanDepot special offers and discounts
LoanDepot offers a few ways to reduce the cost of homebuying and speed up the process. Offers include:
- Down payment assistance: LoanDepot’s accessZERO program, available to first-time and repeat buyers, pairs with FHA loans to provide down payment assistance up to five percent of the loan amount. The assistance is structured as a repayable second mortgage.
- Cash back bonus: Buyers who work with an agent through mellohome, LoanDepot’s affiliated real estate agent network, can receive up to $1,000 cash back when they finance their home with LoanDepot — or $2,000 if they both buy and sell.
- Close on time guarantee: If your loan is delayed even after you’ve delivered all the necessary paperwork, LoanDepot will pay $1,000 to the buyer and seller. (Terms and conditions apply.)
- Speedy digital application: Borrowers who use LoanDepot’s digital application process, dubbed mello smartloan, benefit from efficiencies in the appraisal and title process. This can shave more than two weeks off their closing time, the lender claims on its website — although when we asked, LoanDepot declined to provide an average number of days to close its loans. Using mello smartloan, some borrowers are eligible for a home appraisal waiver, which can save money as well as time.
What does LoanDepot specialize in?
A lender’s experience with your loan type can make a big difference. We looked at recent federal data to find the types of mortgages LoanDepot handles most often. Just over half of the lender’s purchase loans according to the data were conventional, and about a third were FHA.
How we score Loan Depot
Like to read the fine print? We do, too. Each year, NerdWallet writers and editors review the latest data and research on mortgage lenders, including federal data, and use a consistent method to score them based on what matters most to borrowers.
Loan Depot earned a 3.5-star home loans overall rating from NerdWallet. Here’s how that score breaks down across our five weighted subcategories.
Fair
Rates and fees (30%)
Rates and fees determine how much a loan will cost you overall. NerdWallet reviews the latest federal data to score each lender’s average APR spread — a measure that combines interest rates and fees. A higher score means lower typical costs compared to other lenders.
Average
Product accessibility (20%)
We evaluate how widely available a lender’s products are across the U.S. and how accessible they are to different financial profiles. A higher score means broader availability and more flexible requirements. A lower score means fewer options or stricter requirements.
Fair
Customer experience (20%)
We evaluate customer experience by testing and reviewing features like the online application, mobile app, and availability of phone or chat support. A higher score means a smoother, more convenient experience and easier access to help. A lower score means more friction or fewer support options.
Good
Loan variety (15%)
We evaluate loan variety based on the range of home loan types a lender offers. A higher score means more options, while a lower score means a more limited selection.
Poor
Rate transparency (15%)
We review how clearly lenders share rate information on their websites, including sample rates and tools to estimate personalized rates. A higher score means it’s easy to find clear, comprehensive details and compare rates. A lower score means less information is available, often requiring you to contact the lender.
🤓
NerdWallet’s ratings are objective and well-researched (we have the spreadsheets to prove it). But choosing a mortgage lender isn’t just about a star rating or a score breakdown. It’s also about finding the right lender for your unique situation. So yes: you can learn a lot from how the mortgage Nerds scored Loan Depot. But you’re the expert when it comes to the features of your own best-match mortgage lender.Nerdy Tip
LoanDepot reputation and customer experience
NerdWallet’s star ratings look at objective factors like rates, fees and loan options. To give you a sense of what the borrower experience is really like, we pulled the latest customer satisfaction scores from J.D. Power and Zillow and we contacted the lender’s customer support.
2025 J.D. Power U.S. Mortgage Origination Satisfaction Study
722
out of 1,000
Below-average satisfaction score: average = 760.
Mortgage origination covers the application through closing.
2025 J.D. Power U.S. Mortgage Servicing Satisfaction Study
618
out of 1,000
Above-average satisfaction score: average = 596.
A mortgage servicer handles loan payments.
Zillow Mortgage Lender Customer Rating
4.92
out of 5
Excellent rating as of the date of publication.
Rating reflects more than 9,300 customer reviews.
Potential concerns about LoanDepot
LoanDepot has seen some negative headlines recently, but these did not impact its NerdWallet star rating.
- A class-action lawsuit filed in Maryland on July 15, 2025, alleges that LoanDepot pressured loan officers to steer borrowers toward more expensive loans, penalized those who resisted and falsified records to hide the practice. (Tying loan officers’ compensation to borrower costs, such as interest rates and fees, violates federal regulations under Dodd-Frank and the Truth in Lending Act.) When NerdWallet reached out to LoanDepot via email, the lender declined to comment.
- In February 2024, LoanDepot settled a high-profile civil lawsuit, in which two plaintiffs claimed that racial bias during their home appraisal undervalued their property. LoanDepot agreed to pay an undisclosed sum and change its appraisal policy and procedures. LoanDepot emailed NerdWallet the following statement: “LoanDepot strongly opposes bias in the home finance process. While we continue to deny the specific allegations in this lawsuit and have made no admission of fault, we’re proud of the commitments announced today, which will formalize many of our existing practices and provide additional resources to help our customers in the appraisal and review process.”
🚩 The Nerdy details: How penalties work
Our writers research recent headlines and highlight any red flags here. Not all concerns affect a lender’s star rating — only actions that directly harmed consumers. A lender loses points when its mortgage business was the subject of regulatory action and fined $1 million or more. The scoring penalty remains for up to one year after the fine was paid.
LoanDepot customer service options
Here’s how you can get in touch with LoanDepot.
Ways to reach LoanDepot
Physical branches . . . . . . ✅
Phone support . . . . . . . . . ✅
Mobile app . . . . . . . . . . . . ✅
Online chat (bot) . . . . . . . 🚫
Online chat (human) . . . . 🚫
🤓 Our Nerds say... about that data breach
Abby Badach Doyle, lead writer, mortgages
In 2024, I reported on a cyberattack at LoanDepot which affected 16.6 million people’s sensitive personal information. The lender notified those affected and offered them free credit monitoring and identity protection services.
A past hack isn’t necessarily a red flag, though. In my research, I learned that many companies become more secure afterward by improving their defenses. In LoanDepot’s case, they agreed to improve data management and threat detection as part of an $86 million class action settlement in early 2025, which alleged they didn’t do enough to keep data secure before the breach.
» MORE: How to apply for a mortgage
Alternatives to a LoanDepot mortgage
Our biggest tip: Get offers from at least three different mortgage lenders. Comparison shopping can save you thousands of dollars. You can get rate quotes yourself, or work with a mortgage broker to shop around on your behalf.
CrossCountry Mortgage also offers a wide range of niche mortgage types — but like LoanDepot, it doesn’t post rates online.
Pennymac, another nonbank lender, posts detailed information about its mortgage rates online and dedicates a large portion of its business to FHA and VA loans.
» MORE: Best nonbank mortgage lenders
NerdWallet writer Isabella Angelos contributed to this story.
More from NerdWallet
Methodology
NerdWallet rates mortgage lenders based on what matters most to borrowers: rates and fees, product accessibility, customer experience, rate transparency and the range of loan options.
We review more than 40 lenders and score them using a weighted system that prioritizes affordability and a smooth borrowing experience. Lenders earn higher scores for offering lower borrowing costs, making loans widely available, clearly displaying rate information and supporting borrowers from application through closing.
We use a mix of lender-provided information, publicly available data and our own research and analysis to evaluate each lender. Recent regulatory actions may affect a lender’s score.