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LoanDepot vs. Quicken Loans mortgages

Compare the loan programs, fees and credit requirements of these two direct lenders

How do LoanDepot and Quicken Loans compare?

LoanDepot logo
Quicken Loans logo
  • Choose this lender for helpful, professional loan officers
  • Watch out for high origination fees
  • A good option for borrowers who plan to pay off their loan early
  • Consider this lender if you’re after a quick closing.
  • Choose another lender if you want a HELOC.

Loans offered

  • Conventional
  • Refinance
  • Jumbo
  • HELOC
  • FHA
  • VA
  • USDA
  • Conventional
  • Refinance
  • Jumbo
  • HELOC
  • FHA
  • VA
  • USDA

Minimum credit score

Conventional: 620

Conventional: 620

States available

Available in all states

Available in all states

Pros

  • No steering policy
  • High loan limits
  • Accepted loan-to-value ratios
  • No prepayment fee
  • Large jumbo loans available
  • Flexible repayments
  • Online loan support
  • Fast turnaround

Cons

  • High origination fees
  • Application deposit
  • Two-step process
  • Hard credit pulls

Customer reviews

As of September 2021, the Better Business Bureau gives LoanDepot an A+ rating after having closed 937 complaints over the past three years. The lender earns 3.97 out of 5 stars based on almost 2,853 customer reviews. On Trustpilot, LoanDepot receives 3.6 out of 5 stars based on 3,502 reviews. Many borrowers speak highly of its loan officers, saying customer service is quick and professional. The most frequent complaints are about LoanDepot’s slow closing times, poor communications and being charged hefty appraisal fees only to be denied the loan.
Quicken Loans is accredited with the Better Business Bureau (BBB) and as of November 2020 has 3.67 stars out of 5 based on 1,930 customer reviews. On Trustpilot, the lender has 4.4 out of 5 stars with 16,814 customer reviews. Most reviews praise the attentive, personalized service they receive from its mortgage officers. Even when dealing with multiple representatives, borrowers report a keen attention to detail. Borrowers liked using Quicken Loan’s MyQL to track the progress of their loan. However, some complaints point to hard credit inquiries without authorization during the application process. There are also reports that loan advisors were aggressive when trying to close the loan.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.

Name Product Loan products offered State availability Min. credit score
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
AmeriSave
(NMLS #1168)
AmeriSave
Conventional, Jumbo, FHA, VA, USDA, Refinance
Not available in: NY
620
Great customer reviews and customized rate quotes in three minutes with no SSN needed.
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: HI, MO, NM, NY
620
No hidden fees, multiple loan terms, and member discounts available.
Veterans United
(NMLS #1907)
Veterans United
Conventional, FHA, VA, USDA, Jumbo, Refinance
Available in all states
620
Veterans United stands out from other lenders for its focus on serving the military community.
Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
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