It includes tools to simplify the homebuying process
loanDepot has launched a new digital portal aimed at supporting first-time homebuyers, which includes home search functionality, a credit monitoring tool, and materials on the pre-approval process.
The resources in the portal were designed to simplify the homebuying process, according to loanDepot, with the challenges of today’s housing market disproportionately impacting first-time homebuyers.
“Housing affordability and sustainable homeownership are among the most pressing issues today, particularly for first-time homebuyers who have unique needs when navigating what can be a complex journey as they enter the market,” said Zeenat Sidi, loanDepot’s president of digital products and services. “We’re talking about a diverse group, who are more digitally savvy today, with many first-time homebuyers starting the process by researching online to become educated on all of their options. By offering relevant and holistic digital content, tools and resources in a convenient and easy-to-navigate site, our goal is to make the dream of homeownership a reality for as many homebuyers as possible.”
Through loanDepot’s portal, users have access to education materials guiding them through the process of getting pre-approved for a mortgage. They can also connect to a real estate agent through mellohome, a real estate referral and broker business affiliated with loanDepot.
Additionally, the portal has a credit monitoring tool that helps users better understand their credit bureau score, as well as a home search functionality that makes it easy to browse through listings.
The portal also offers up to $4,500 in cash and incentives through the Grand Slam program, which provides access to home transaction products and benefits for users who purchase with a mellohome-approved agent and finance through loanDepot.
“Providing increased support for first-time homebuyers is a critical part of our Vision 2025 strategy focused on expanding loanDepot’s purpose driven purchase market origination footprint,” said loanDepot president and CEO Frank Martell. “We are entering a phase of profound generational change and consequently the make-up of the typical new homebuyer in this country. Our team at loanDepot is squarely focused on making sure the first-time homebuyers of today and the future have the best possible information, tools and support as they start their homeownership journey.”