loanDepot mortgage review: rates, costs & calculator
A large nonbank lender with a national retail footprint and a lifetime-guarantee refinance program for return customers.
loanDepot mortgage rates: what borrowers actually paid
loanDepot prices each borrower individually, but federal loan-level records show what its borrowers actually got. On 11,295 FHA 30-year fixed purchase loans closed in 2025, the median rate was 5.99% and the median APR was 0.21 percentage points below the typical lender's, with $12,225 in loan costs.
| 2025 home purchases | Loans | Median rate | APR vs benchmark | Loan costs | With points |
|---|---|---|---|---|---|
| Conventional · loanDepot | 8,018 | 6.50% | −0.05 | $6,137 | 65% |
| Conventional · all lenders | 700,082 | 6.50% | +0.02 | $5,476 | 53% |
| FHA · loanDepot | 11,295 | 5.99% | +0.21 | $12,225 | 71% |
| FHA · all lenders | 516,729 | 6.25% | +0.42 | $11,291 | 59% |
| VA · loanDepot | 3,628 | 5.75% | −0.67 | $9,781 | 72% |
| VA · all lenders | 291,383 | 6.125% | −0.36 | $6,554 | 59% |
| Jumbo · loanDepot | 277 | 6.625% | 0.00 | $9,524 | 46% |
| Jumbo · all lenders | 30,788 | 6.625% | +0.00 | $10,251 | 38% |
What the numbers say
- On FHA loans, loanDepot's median APR ran 0.21 percentage points below the typical lender's (+0.21 vs +0.42 percentage points against the benchmark) — roughly $43 a month on a $305,000 loan at today's 7.18% average rate.
- Other loan types: Conventional 0.07 percentage points below the market (8,018 loans); VA 0.30 percentage points below the market (3,628 loans); Jumbo in line with the market (277 loans).
- Borrowers paid a median $12,225 in loan costs — $934 more than the $11,291 typical across all lenders (FHA totals include upfront mortgage insurance).
- 71% of its loans carried discount points, versus 59% overall — ask for quotes with and without points.
How loanDepot compares on FHA loans
| Lender | Loans | Median rate | APR vs benchmark | Loan costs | Lender credits |
|---|---|---|---|---|---|
| loanDepot | 11,295 | 5.99% | +0.21 | $12,225 | 32% |
| United Wholesale Mortgage | 49,058 | 6.125% | +0.37 | $13,255 | 51% |
| DHI Mortgage | 31,598 | 4.50% | −1.40 | $9,217 | 3% |
| Rocket Mortgage | 21,677 | 6.25% | +0.38 | $11,293 | 5% |
| CrossCountry Mortgage | 18,447 | 6.50% | +0.71 | $12,630 | 44% |
| All lenders | 516,729 | 6.25% | +0.42 | $11,291 | 34% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), 30-year fixed home purchases compared like for like. APR vs benchmark = median APR minus the average prime offer rate the week the rate was set; loan costs are borrower-paid. How we compare lenders.
loanDepot mortgage calculator
Estimate a loanDepot payment: enter the rate from your Loan Estimate, or start from today's 7.18% average 30-year fixed rate. For reference, loanDepot's 2025 FHA purchase loans closed at a median 5.99%.
Prefer a full-page version? Open the mortgage refinance calculator.
loanDepot by the numbers
| Home loans originated (2025) | 91,730 |
|---|---|
| Total lending (2025) | $25.7B |
| Average loan size | $279,914 |
| Approval rate* | 72.8% |
| Volume rank (our roster) | #6 of 60 |
| Largest market | California |
Source: federal HMDA data (2025), FFIEC/CFPB. *Approval rate = loans originated ÷ (originated + denied). It reflects a lender's channel and borrower mix — wholesale, online and refi-heavy lenders run lower because many applications are rate shops that never close — not how hard it is to work with. See our lending-data study.
What loanDepot actually lends
24.7% of loanDepot's 2025 loans were FHA loans, versus 13.2% nationally.
| Share of 2025 loans | loanDepot | U.S. |
|---|---|---|
| Conventional | 65.7% | 78% |
| FHA | 24.7% | 13.2% |
| VA | 9.3% | 8.2% |
| USDA | 0.2% | 0.6% |
| Home purchase | 44.1% | 52.5% |
| Rate-and-term refinance | 8.3% | 15.3% |
| Cash-out refinance | 25.2% | 14% |
Shares of originated loans by loan type and purpose, federal HMDA data (2025). They describe the lender's business mix, not the terms you would be offered.
loanDepot at a glance
loanDepot is a publicly traded nonbank mortgage lender (NYSE: LDI) founded in 2010 by Anthony Hsieh and headquartered in Irvine, California.
Licensed in all 50 states, it grew into one of the country's larger retail mortgage originators by pairing a direct-to-consumer call-center model with a network of local loan officers, so borrowers can apply entirely online or work with someone by phone.
In 2025 HMDA data it originated 91,730 loans worth roughly $25.7 billion, with an average loan size of about $279,914 and an approval rate near 72.8%.
The company's calling card is technology it markets under the mello brand. Its mello smartloan platform digitally verifies income, employment and assets and runs proprietary loan engines to surface options, which loanDepot says can shorten the path to closing by up to 17 days.
Where loanDepot's approval rate sits
loanDepot's 2025 approval rate of 72.8% sits against the 76.6% national average. Read it as a signal of channel, not strictness — wholesale, online and refinance-heavy lenders run lower because so many applications are rate shops that never close.
It also runs a Lifetime Guarantee program that waives lender fees and reimburses the appraisal cost on future refinances for returning customers, tied to the original borrower and property.
Product-wise it covers conventional, FHA, VA and jumbo loans across fixed and adjustable terms.
loanDepot's footprint mirrors the country's largest housing markets: California is its top state by loan count (16,655), followed by Texas (14,675), Florida (13,216), Georgia and Illinois.
The company has been through a turbulent stretch, exiting wholesale lending, cutting headcount under earlier cost programs, and, in January 2024, disclosing a ransomware cyberattack that exposed data on roughly 16.6 million individuals; it later agreed to an $86 million class-action settlement and security improvements.
Founder Anthony Hsieh returned as permanent CEO in 2025 under a strategy it calls Project North Star.
Who loanDepot is best for
loanDepot suits borrowers who want a largely digital application with the option of a human loan officer, and who value the Lifetime Guarantee if they expect to refinance with the same lender down the road.
Its broad 50-state licensing and full product menu, from FHA and VA to jumbo, make it a reasonable one-stop option for purchase or refinance shoppers who still want to compare its rates and fees against competitors.
Loan programs at loanDepot
Its most notable programs and specialties:
- mello smartloan fully digital application with automated income, employment and asset verification
- Lifetime Guarantee waiving lender fees and reimbursing appraisal costs on future refinances for returning customers
- Conventional conforming loans in 10-, 15-, 20- and 30-year fixed terms
- FHA and VA government-backed loans for lower-down-payment and eligible military borrowers
- Jumbo loans for balances above conforming limits
- Adjustable-rate mortgages in 3/1, 5/1, 7/1 and 10/1 structures
Typical industry minimum down payment by core loan type — loanDepot's own minimums or credit overlays may run higher:
| Loan program | Typical min. down |
|---|---|
| Conventional | 3% |
| FHA | 3.5% |
| VA | 0% |
| Jumbo | 10–20% |
| Refi | n/a |
Strengths
- Digital mello smartloan process that can shorten time to closing
- Lifetime Guarantee reduces lender fees and appraisal costs on repeat refinances
- Licensed in all 50 states with both online and local loan-officer support
- Full product range including conventional, FHA, VA and jumbo loans
Considerations
- A data breach affected nearly 17 million people; in 2025 a court approved a class settlement with $25 million plus financial monitoring and security upgrades.
- Publicly reported net losses through 2025 as it works back toward sustained profitability
- Rates and lender fees are not published upfront, so borrowers should request a personalized quote and compare
Where loanDepot lends most
By federal HMDA records, loanDepot's largest 2025 markets were California, Texas, Florida, Georgia and Illinois. Explore local rates, home prices and down-payment assistance for each:
States where loanDepot is a top-15 lender
Ranked by home loans originated in 2025 (HMDA). Each state page compares loanDepot with the other leading lenders there, including FHA and VA leaders and what their borrowers paid.
The verdict
loanDepot is a large, tech-forward nonbank lender whose mello smartloan platform and Lifetime Guarantee stand out, particularly for borrowers likely to refinance again.
It is worth weighing against its recent turbulence, including a major 2024 data breach and continued net losses, and its opaque upfront pricing.
As with any lender, borrowers should compare a personalized loanDepot quote on rate and total fees against competing offers before committing.
How to compare loanDepot
Shopping a few lenders is the single most reliable way to save. Before you commit to loanDepot:
- Get three or more Loan Estimates in a two-week window — the bureaus treat it as one inquiry.
- Compare the APR, not just the headline rate — it folds in the fees.
- Weigh service and loan-type fit, not price alone.
- Verify licensing: search loanDepot on NMLS Consumer Access and match the NMLS ID to the one on your Loan Estimate. (Its LEI in federal HMDA data, 549300AG64NHILB7ZP05, is not a license number.)
Benchmark whatever you're quoted against today's average mortgage rates.
loanDepot FAQ
Is loanDepot a good mortgage lender?
loanDepot is a licensed U.S. mortgage lender and one of the largest, roughly #6 of 60 in our roster by 2025 volume, best for repeat refinancers.
On price, its 2025 FHA borrowers' median APR was 0.21 percentage points below the typical lender's, with $12,225 in loan costs against $11,291 market-wide.
Whether it's right for you comes down to the rate and fees it quotes — compare its Loan Estimate with two or three others.
What are loanDepot's mortgage rates today?
loanDepot sets rates daily by loan type, credit score, down payment and points, so the rate that counts is the one on your Loan Estimate.
For context, the average 30-year fixed rate was 7.18% in Freddie Mac's survey for the week of November 5, 2026; in 2025, loanDepot's FHA purchase loans closed at a median 5.99%, against 6.25% for all lenders.
How many mortgages does loanDepot originate?
In 2025, loanDepot originated about 91,730 home loans, roughly $25.7 billion in lending, per federal HMDA data — an average loan of about $279,914.
What loan types does loanDepot offer?
loanDepot offers Conventional, FHA, VA, Jumbo, Refi. Notable programs include mello smartloan fully digital application with automated income, employment and asset verification; Lifetime Guarantee waiving lender fees and reimbursing appraisal costs on future refinances for returning customers; conventional conforming loans in 10-, 15-, 20- and 30-year fixed terms.
How do I verify loanDepot is licensed?
Search the company's name on NMLS Consumer Access (nmlsconsumeraccess.org), the official registry of licensed mortgage companies and loan officers; the NMLS ID it shows is also printed on every Loan Estimate the lender issues. (The ID 549300AG64NHILB7ZP05 used on this page is the company's LEI, which identifies it in federal HMDA data — not a license number.)
This review is editorial and independent — loanDepot did not pay for or approve it, and all figures are from public federal data. It is general information, not a recommendation or personalized advice. Confirm all terms directly with the lender.
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