Simply so, does Loan Depot have a float down option?
And to make the deal even sweeter for prospective home buyers, loanDepot is tacking on a float-down option. If rates happen to go down, loanDepot will allow the borrower to take the lower rate 30 days prior to the close of escrow.
Furthermore, does LoanDepot sell its loans?
Applicants can either receive in-person help at more than 200 branches nationwide or complete the mortgage process entirely online. … LoanDepot is headquartered in Foothill Ranch, California, and offers conventional loans, government-backed mortgages, renovation loans, and refinance loans.
How long does loanDepot take to close?
Is loanDepot a lender or broker?
As a direct lender, loanDepot says it can deliver low mortgage rates (depending on your credit score) and get you to the closing table 50% faster than the industry average. The company offers several types of mortgage loans, including conventional mortgage loans, jumbo loans, FHA loans, and VA loans.
Is LoanDepot federally backed?
LoanDepot mortgage loan types
LoanDepot has a variety of mortgage products: fixed- and adjustable-rate loans for purchases and refinances, jumbo loans and loans backed by the Federal Housing Administration and the Department of Veterans Affairs.
Is LoanDepot loan administration legit?
LoanDepot is accredited by the Better Business Bureau with an A+ rating. Based on more than 3,400 customer reviews on Trustpilot, the lender scores a 3.6 out of five stars.
Who bought LoanDepot?
LoanDepot, sometimes stylized as loanDepot, is a Lake Forest, California-based holding company which sells mortgage and non-mortgage lending products.
| Type | Public |
|---|---|
| Industry | Mortgage lending |
| Founded | 2010 |
| Founder | Anthony Hsieh |
| Headquarters | Lake Forest, California , U.S. |