LoanDepot Mortgage: how to apply
Keep reading and find out how to apply for LoanDepot Mortgage. Plus, learn what are the minimum borrowing requirements and find another lender option! Get the money you need to buy your dream home.
LoanDepot Mortgage: easy and convenient digital application
Are you interested in getting a mortgage? Then read on and learn how to apply for the LoanDepot Mortgage. This lender offers multiple loan products and benefits for its clients.
In this post, we’ll provide an overview of how to apply for LoanDepot Mortgage and what are its minimum borrowing requirements. Then let’s get started.
How to apply on the website
The application process for this lender is easy and quick. You can apply for LoanDepot Mortgage at their website through a very intuitive form.
Select the “Apply Now” button on the first page to get started. Next, you’ll be redirected to an application form.
As a result, you’ll have to inform what type of loan you want, if you’re already working with a loan officer, where the property is located, and the estimated purchase price.
Further, fill out how much of a down payment you intend to make and what is your credit score.
You’ll also have to fill out your personal information, including name, phone number, and email address.
After providing all the requested information, submit your form. Next, a loan officer will contact you to guide you through the rest of your application.
Furthermore, you might need to create an account on the LoanDepot Mortgage website.
Additionally, you can expect to schedule an appraisal and submit additional documents, which can be made online.
LoanDepot requires a minimum credit score of 620 for those who want to qualify for a conventional loan.
However, this minimum requirement might vary depending on the home loan you’re applying for.
Also, they’ll need to put down at least 3% of the property price.
Furthermore, homebuyers must provide some documentation, including pay stubs, mortgage statements, and two years of employment history.
Apply on the mobile app
Although borrowers can only apply for the LoanDepot Mortgage through the website, this lender provides an excellent mobile app to its customers.
The LoanDepot Mobile can be downloaded at the Google Play and Apple Store. It allows clients to manage their mortgages, make payments, access loan documents, and more.
Find other loan options: Mr. Cooper Mortgage
If you’re looking for another lender option rather than LoanDepot Mortgage. We have just what you need!
Meet Mr. Cooper Mortgage! This lender has multiple loan types and covers all of the U.S., including Puerto Rico and the U.S. Virgin Islands.
Additionally, Mr. Cooper provides rate transparency and a couple of excellent programs, such as Mr. Cooper’s Zero Dollar Move program and the Close on Time Guarantee.
Great, isn’t it? Below, let’s compare both lenders’ main features to help you with your decision!
|Mr. Cooper Mortgage
|620 or higher;
|580 or higher;
|Conventional, jumbo, FHA, VA, fixed, and adjustable rate. Home Equity, Rate-and-term, and cash-out refinancing. Constructions and renovation loans.
|Conventional loans, FHA, Va, fixed and adjustable-rate, rate-and-term, cash-out, streamline refinancing, and investment property;
|Minimum Down Payment
|As little as 3%;
|0% to 3.5%, depending on the home loan;
|Up to 40 years.
|15 up to 30 years.
Are you interested in learning more about Mr. Cooper Mortage? We’ve got you! The next article will explain how this lender’s application works. Keep reading to learn more!
About the author / Beatriz Vieira
Rocket Mortgage review: Meet the full digital home loan
This Rocket Mortgage review will teach you how it works and its perks and compare the pros and cons. Keep reading to learn more!Keep Reading
Apply for the Petal® 1 “No Annual Fee” Visa® Credit Card: find out how
Want to apply for the Petal® 1 "No Annual Fee" Visa® Credit Card and start building credit? Read this full article and learn how!Keep Reading
Best Egg Personal Loans review: rates, terms and more
Find out if this lender is good for you in this Best Egg Personal Loans review. Fast application and funding. Keep reading to learn more!Keep Reading
You may also like
Learn how to apply for The Platinum Card® from American Express! Exclusive benefits and experiences!
Experience Limitless Luxury - The Platinum Card® offers more than credit; it's a lifestyle choice with extravagant advantages.Keep Reading
Cheap AirAsia India flights: night flights from ₹1,758
Looking for cheap flights within India? Look no more! Explore the country, save money with AirAsia India cheap flights, and book today!Keep Reading