LoanDepot is accredited by the Better Business Bureau with an A+ rating, and based on more than 3,900 reviews, has 3.7 out of five stars on Trustpilot. It scored above average in J.D. Power's 2022 ranking for mortgage origination satisfaction.

Founded in 2010 by mortgage industry innovator Anthony Hsieh, our company is focused on creating a straightforward mortgage experience that meets - and exceeds - your expectations. Our company's growth reflects the success of our customer-centric approach.

LoanDepot, sometimes stylized as loanDepot, is an Irvine, California-based nonbank holding company which sells mortgage and non-mortgage lending products. U.S.

LoanDepot is a mortgage lender that operates nationally with more than 200 branches and delivers both a digital experience and face-to-face service. The lender offers fixed- and adjustable-rate conventional mortgages, FHA and VA loans, as well as refinance and home equity loans.

620 What's the minimum credit score loanDepot accepts? LoanDepot requires a minimum credit score of 620 for conventional mortgages and 580 for FHA loans with a 3.5% down payment or 500 with a 10% down payment.

8 ways to spot personal loan scams

• Guarantees approval.
• Not registered.
• Demands payment upfront.
• You get calls, letters or visits.
• No physical address available.
• Pressures you to act immediately.
• Website is not secured.
• It sounds too good to be true.

loanDepot has agreed to settle a securities class action lawsuit filed by shareholders that alleged the company, its executives and investment banks made false or misleading disclosures before and after the lender's initial public offering in 2021.

Shareholders had accused the lender, its executives, and bank underwriters of misleading disclosures during the 2021 IPO, while loanDepot denies any wrongdoing. loanDepot, has reached a $3.5 million settlement over a class action lawsuit filed by shareholders.

The loan process for a private loan is often faster, with no income verification, and the terms are more flexible, allowing borrowers to seize timely investment opportunities. However, these advantages come with a cost - private loans usually carry higher interest rates than bank mortgages.

LoanDepot offers a wide range of products - including fixed- and adjustable-rate conventional loans, jumbo loans and refinancing options - and claims a closing process 50% faster than the national average. Its jumbo loans range up to $3 million and come with repayment terms of up to 40 years.

loanDepot still faces two separate shareholder lawsuits in California and Delaware and three similar shareholder derivative complaints filed in Delaware in July.

It is possible to qualify for an FHA loan with a credit score as low as 500, although you won't get the standard 3.5% down payment these loans are known for. Borrowers without a FICO Score of at least 580 need to put 10% down.