loanDepot Expands equityFREEDOM Portfolio With 10- and 30-Year Home Equity Loan Terms
loanDepot (NYSE: LDI) has expanded its equityFREEDOM portfolio by adding 10- and 30-year fixed-term options to its existing 20-year fixed-rate home equity loan. This expansion complements their first- and second-lien home equity lines of credit (HELOCs), targeting nearly 50 million American homeowners with access to tappable home equity.
The company's home equity products allow homeowners to borrow up to $400,000, based on credit profile and combined loan-to-value ratio (CLTV). With 75% of existing mortgages carrying rates below 5%, these options enable homeowners to access equity without affecting their current mortgage rates. The products feature no prepayment penalties and may not require new home appraisals in many cases.
The HELOC offering includes a three-year draw period and, in most states, a 10-year interest-only payment period followed by a 20-year amortizing repayment term.
loanDepot (NYSE: LDI) ha ampliato il suo portafoglio equityFREEDOM aggiungendo opzioni a tasso fisso di 10 e 30 anni al suo già esistente prestito ipotecario a tasso fisso di 20 anni. Questa espansione completa le loro linee di credito ipotecario di primo e secondo grado (HELOC), mirando a quasi 50 milioni di proprietari di case americani con accesso all'equità immobiliare utilizzabile.
I prodotti di equity immobiliare dell'azienda consentono ai proprietari di case di prendere in prestito fino a $400,000, in base al profilo di credito e al rapporto prestito-valore combinato (CLTV). Con il 75% dei mutui esistenti che presentano tassi inferiori al 5%, queste opzioni permettono ai proprietari di accedere all'equità senza influenzare i tassi del mutuo attuale. I prodotti non prevedono penali per rimborso anticipato e potrebbero non richiedere nuove perizie immobiliari in molti casi.
L'offerta HELOC include un periodo di prelievo di tre anni e, nella maggior parte degli stati, un periodo di pagamento solo interessi di 10 anni seguito da un termine di rimborso ammortizzato di 20 anni.
loanDepot (NYSE: LDI) ha ampliado su cartera equityFREEDOM al agregar opciones de tasa fija a 10 y 30 años a su préstamo hipotecario de tasa fija existente a 20 años. Esta expansión complementa sus líneas de crédito hipotecario de primer y segundo grado (HELOC), enfocándose en casi 50 millones de propietarios de viviendas estadounidenses con acceso a la equidad de la vivienda.
Los productos de equidad de vivienda de la compañía permiten a los propietarios pedir prestado hasta $400,000, según el perfil crediticio y la relación préstamo-valor combinada (CLTV). Con el 75% de las hipotecas existentes con tasas por debajo del 5%, estas opciones permiten a los propietarios acceder a la equidad sin afectar las tasas de sus hipotecas actuales. Los productos no tienen penalizaciones por pago anticipado y, en muchos casos, pueden no requerir nuevas tasaciones de la vivienda.
La oferta de HELOC incluye un período de disposición de tres años y, en la mayoría de los estados, un período de pago solo de intereses de 10 años seguido de un término de reembolso amortizado de 20 años.
loanDepot (NYSE: LDI)는 기존의 20년 고정금리 주택 담보 대출에 10년 및 30년 고정금리 옵션을 추가하여 equityFREEDOM 포트폴리오를 확장했습니다. 이 확장은 첫 번째 및 두 번째 담보 주택 담보 대출(HELOC)과 함께 하여, 가용한 주택 자산에 접근할 수 있는 거의 5천만 명의 미국 주택 소유자를 겨냥하고 있습니다.
회사의 주택 자산 제품은 주택 소유자가 신용 프로필 및 결합 대출 대 가치 비율(CLTV)에 따라 최대 $400,000까지 대출받을 수 있도록 합니다. 기존 모기지의 75%가 5% 미만의 금리를 보유하고 있어, 이러한 옵션은 주택 소유자가 현재 모기지 금리에 영향을 주지 않고 자산에 접근할 수 있게 해줍니다. 이 제품은 조기 상환 수수료가 없으며, 많은 경우 새로운 주택 감정이 필요하지 않을 수 있습니다.
HELOC 제공에는 3년의 인출 기간과 대부분의 주에서 10년의 이자 전액 지불 기간이 포함되며, 그 후 20년의 상환 기간이 있습니다.
loanDepot (NYSE: LDI) a élargi son portefeuille equityFREEDOM en ajoutant des options à taux fixe de 10 et 30 ans à son prêt hypothécaire à taux fixe de 20 ans existant. Cette expansion complète leurs lignes de crédit hypothécaire de premier et deuxième rang (HELOC), ciblant près de 50 millions de propriétaires américains ayant accès à l'équité de leur maison.
Les produits d'équité de la société permettent aux propriétaires d'emprunter jusqu'à $400,000, en fonction de leur profil de crédit et du ratio prêt-valeur combiné (CLTV). Avec 75 % des hypothèques existantes ayant des taux inférieurs à 5 %, ces options permettent aux propriétaires d'accéder à l'équité sans affecter les taux de leur hypothèque actuelle. Les produits ne comportent pas de pénalités de remboursement anticipé et peuvent ne pas nécessiter de nouvelles évaluations de la maison dans de nombreux cas.
L'offre HELOC comprend une période de tirage de trois ans et, dans la plupart des États, une période de paiement d'intérêts uniquement de 10 ans suivie d'un terme de remboursement amorti de 20 ans.
loanDepot (NYSE: LDI) hat sein equityFREEDOM-Portfolio erweitert, indem es 10- und 30-jährige Festzinsoptionen zu seinem bestehenden 20-jährigen Festzins-Hauskredit hinzugefügt hat. Diese Erweiterung ergänzt ihre ersten und zweiten Hypothekenlinien (HELOCs) und richtet sich an nahezu 50 Millionen amerikanische Hausbesitzer, die auf tappbare Eigenkapital zugreifen können.
Die Eigenkapitalprodukte des Unternehmens ermöglichen es Hausbesitzern, basierend auf ihrem Kreditprofil und dem kombinierten Kreditwertverhältnis (CLTV) bis zu $400,000 zu leihen. Da 75% der bestehenden Hypotheken Zinsen von unter 5% haben, ermöglichen diese Optionen den Hausbesitzern, auf Eigenkapital zuzugreifen, ohne ihre aktuellen Hypothekenzinsen zu beeinflussen. Die Produkte enthalten keine Vorfälligkeitsentschädigungen und benötigen in vielen Fällen möglicherweise keine neuen Immobilienbewertungen.
Das HELOC-Angebot umfasst eine dreijährige Abrufperiode und in den meisten Bundesstaaten eine 10-jährige Zinszahlungsperiode gefolgt von einer 20-jährigen amortisierenden Rückzahlungsfrist.
- Expansion of product portfolio with new 10- and 30-year term options
- Access to large borrowing capacity up to $400,000
- No prepayment penalties
- Potential to skip new home appraisals
- None.
Insights
This product expansion represents a calculated strategic move that could significantly impact LDI's market position and revenue potential. The timing is particularly strategic given two key market conditions: $35 trillion in tappable home equity and 75% of existing mortgages below 5%. This creates a perfect storm of opportunity where homeowners are equity-rich but rate-locked.
The expanded product suite addresses several critical market needs:
- Provides flexibility through multiple term options (10, 20, and 30 years) plus HELOC alternatives
- Targets the 50 million American homeowners with tappable equity
- Offers loan amounts up to $400,000 without requiring homeowners to disturb their existing low-rate mortgages
The operational efficiency of the platform, with its quick application process and potential to skip new appraisals, suggests strong margin potential. The no-prepayment-penalty feature and tax-deductible interest make these products particularly attractive to consumers, potentially driving higher adoption rates.
This move positions LDI to capture a larger share of the home equity lending market, particularly important as traditional mortgage refinancing volumes remain suppressed due to higher rates. The company's "one-stop-shop" approach could lead to improved customer retention and cross-selling opportunities, potentially increasing lifetime customer value.
Continued growth of product suite allows millions of homeowners to tap into their most important source of funding: home equity
With 75 percent of existing mortgages carrying rates below five percent,2 homeowners are reluctant to sacrifice their current mortgage to move or refinance. These home equity loan term options provide additional ways for homeowners to leverage this powerful financial tool to lower borrowing costs without affecting their current mortgage rate.
"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," said LDI President Jeff Walsh. "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."
American homeowners, who are carrying a record
The equityFREEDOM application takes just minutes. loanDepot’s home equity loan lets customers access the equity in their homes in a lump sum in one of three, fully amortizing loan terms while the HELOC offers flexible terms including a three-year draw period, and, in most states, a 10-year interest-only payment period followed by a 20-year amortizing repayment term.5 Each product allows homeowners to borrow up to
To learn more about loanDepot’s equityFREEDOM suite of home equity lending products CLICK HERE.
About loanDepot
At loanDepot (NYSE: LDI), we know home means everything. That’s why we are on a mission to support homeowners with a suite of products and services that fuel the American Dream. Our portfolio of digital-first home purchase, home refinance and home equity lending products make homeownership more accessible, achievable, and rewarding, especially for the increasingly diverse communities of first-time homebuyers we serve. Headquartered in
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1 https://ir.theice.com/press/news-details/2024/ICE-Mortgage-Monitor-Historically-Strong-Home-Price-Growth-Pushes-
2 https://www.realtor.com/news/trends/majority-americans-still-feel-locked-in-by-mortgage-rates/#:~:text=%E2%
3 https://fred.stlouisfed.org/series/OEHRENWBSHNO
4 loanDepot encourages consumers to consult tax advisors for applicable requirements and details.
5 In
View source version on businesswire.com: https://www.businesswire.com/news/home/20250212427358/en/
Media Contact
Jonathan Fine
VP, Public Relations
(781) 248-3963
jfine@loandepot.com
Source: loanDepot, Inc.
FAQ
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