loanDepot Adds Home Equity Loan to its equityFREEDOM Suite of Home Equity Products - Seite 2

The equityFREEDOM Home Equity Line of Credit (HELOC) can take customers from quote to close in as little as three weeks, with flexible terms providing access to equity with a three-year draw period and, in most states, a 10-year interest-only payment period followed by a 20-year amortizing repayment term⁸. Homeowners may borrow up to $250,000, with a maximum of 90% CLTV.⁹

Said loanDepot Chief Education Officer Alec Hanson, “Every borrower has their own unique financial considerations. One may want the stability of the home equity loan’s fixed monthly loan payment, while another may need the flexibility of the HELOC, with the ability to pay down and redraw over time. For this reason, it’s really critical that borrowers work with a reputable mortgage professional who offers different product options and the consultative wisdom borrowers need to make the right decision for their short and long-term financial goals.”

loanDepot will continue to expand its equityFREEDOM suite of home equity lending products with a first lien home equity line of credit due to launch later this summer.

About loanDepot

loanDepot (NYSE: LDI) is a leading provider of lending solutions that make the American dream of homeownership more accessible and achievable for all, especially the increasingly diverse communities of first-time homebuyers, through a broad suite of lending and real estate services that simplify one of life's most complex transactions. Since its launch in 2010, the company has been recognized as an innovator, using its industry-leading technology to deliver a superior customer experience. Our digital-first approach makes it easier, faster and less stressful to purchase or refinance a home. Today, as one of the largest non-bank lenders in the country, loanDepot and its mellohome operating unit offer an integrated platform of lending, loan servicing, real estate and home services that support customers along their entire homeownership journey. Headquartered in Southern California and with hundreds of local market offices nationwide, loanDepot’s passionate team is dedicated to making a positive difference in the lives of their customers every day.