LoanDepot is expanding its home equity lending options to help homeowners lower their monthly payments while keeping their current mortgage rates intact. With data showing that 75% of existing mortgages have rates below 5%, this move comes at a time when homeowners hold a record $35 trillion in home equity. Their new equityFREEDOM application and other home equity products allow borrowers to access up to $400,000 based on credit profiles and loan-to-value ratios, with benefits like no prepayment penalties and limited appraisal requirements.
We are a fully integrated one-stop-shop for all things home equity that helps support our customers' entire homeownership journey and provides more options to help achieve their financial goals.
Homeowners today enjoy unprecedented levels of equity, and by continuing to expand our home equity lending options, we're giving them the flexibility they need to find the best solution for their circumstances.
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