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The LoanDepot Home Loans company has risen to a very respectable level over the last few years, offering a range of home loans to rival the opportunities offered by banks. They claim to have pioneered the online lending industry and to maintain an “unblemished track record” of responsible lending. The site also provides a real time interest rates and APR’s that are associated with the various types of loans they offer.

Direct Lending, Digital Updates and In House Underwriting

The LoanDepot is a direct lender as well as the underwriter for the loan, allowing them to control the entire process. Having one dedicated service provider is very helpful at all stages of the process, since you have a central location and contract encompassing the entire exchange. The use of digital tools to prepare for and apply for the loan obviously speeds the process up – there is no need to find convenient mutual meeting times or places. Also, there is no one who will say that they have no idea where you are in the process, because you have a digital means to check on the progress of your application. A great deal of their digital tools (calculators, etc.) and information are provided by a different company, called Bankrate. Bankrate provides all sorts of real time data as well as the advertised rates of all sorts of lenders.

How the Process Works

The customer reviews found in relation to this company are either wonderful or terrible. This is a function of the type of company they are and the type of service they offer. If your life fits their blanks, the process is smooth and perfect for a generation that loves to do everything from a keyboard. Much like their customers, the company struggles when reality doesn’t fit the form. The LoanDepot offers refinancing and home equity loan options as well as the standard 15-year, 30-year fixed and adjustable rate mortgages.