Best for down-payment and closing cost assistance
Min. credit score
Min. down payment
- No pressure. LoanDepot's no-steering policy ensures loan officers offer impartial guidance.
- No prepayment fee. You won't be penalized if you pay off your loan early.
- No appraisal fee. LoanDepot's loan officers may be able to identify the best loan for you without requiring an appraisal.
- Steep origination fee. LoanDepot may charge as much as 5% for origination.
- Mortgage rates aren't online. You have to contact a loan officer to determine your mortgage rate.
- Negative reviews. As of October 2020, LoanDepot has some recent negative reviews on Trustpilot, mostly related to lackluster customer service, long processing times and unresponsive representatives.
|Loan types||Conventional, Jumbo, FHA, VA, USDA, Home Equity, Refinance|
|Minimum credit score||Conventional: 620
|Minimum down payment (Conventional)||3.5%|
|States available||Available in all states|