Continued growth of product suite allows millions of homeowners to tap into their most important source of funding: home equity

loanDepot, Inc. ("LDI" or "Company") (NYSE: LDI), a leading provider of products and services that power the homeownership journey, has expanded its equityFREEDOM portfolio to provide nearly 50 million American homeowners with access to their tappable home equity.1 The expansion adds 10- and 30-year fixed-term options to the Company’s existing 20-year fixed-rate home equity loan, complementing its first- and second-lien home equity lines of credit (HELOCs).

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 $35 trillion in home equity,3 can use their home equity wisely for large expenses such as home renovations, college tuition, or to consolidate high interest credit card debt. Access to home equity is one of the most significant benefits of homeownership, as it can lower the cost of borrowing for large expenses. And, in many cases, the interest may be tax deductible.4

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 $400,000, based on their credit profile and their home’s combined loan-to-value ratio (CLTV). There are no prepayment penalties and, in many cases, borrowers may not need a new home appraisal.

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 Southern California with local market offices nationwide, loanDepot and its sister real estate and home services company, mellohome, are dedicated to helping customers put down roots and bring dreams to life – all while building stronger communities and a better tomorrow.

_______________ 1 https://ir.theice.com/press/news-details/2024/ICE-Mortgage-Monitor-Historically-Strong-Home-Price-Growth-Pushes-U.S.-Mortgage-Holders-Tappable-Equity-to-Record-11T/default.aspx 2 https://www.realtor.com/news/trends/majority-americans-still-feel-locked-in-by-mortgage-rates/#:~:text=%E2%80%9CAltogether%2C%20this%20means%20that%20more,rate%20for%20a%20higher%20one 3 https://fred.stlouisfed.org/series/OEHRENWBSHNO 4 loanDepot encourages consumers to consult tax advisors for applicable requirements and details. 5 In Texas, loanDepot’s HELOC includes a three-year interest only period followed by a 27-year repayment period.

Media Contact Jonathan Fine VP, Public Relations (781) 248-3963 jfine@loandepot.com

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