loanDepot provides online personal loans for a variety of purposes, including debt consolidation, business expansion and personal vacations. In addition to its simple application process, its website contains a variety of articles to help you make informed financial decisions.

Like most online personal loan lenders, it's easy to apply through the website. First, you give preliminary information and receive a tentative rate and terms estimate. Next, you continue the application. If you are pre-approved, loanDepot asks for documentation to prove your identity, income and possibly other aspects of your finances. You can fax or email the forms, or you can upload them right onto the website. If you prefer, you can make an appointment to speak with a loan representative, which is a convenient feature.

Your first payment must be via automatic debit from your bank account. If you prefer to pay a different way, then you need to cancel the payments and make new arrangements. You can pay by check if you wish. There may be a grace period if the check takes longer in the mail than usual, but it's always a good idea to send the check early so the payment is on time. This lender may not negotiate payments if you encounter economic hardship while still owing on the loan.

You can chat with loanDepot online or over the phone. The customer service over the phone was friendly during the pre-loan process but not as forthcoming as other online personal loan companies we spoke to.

Before we could speak to a representative, we had to give a lot of personal information, including the credit score. The loan representative didn't really walk us through the process, instead directing us to fill out the form. Callbacks took hours rather than the promised minutes. We recommend using the appointment feature. We sent questions via email but rather than answering them, loanDepot put us on a mailing list to receive automated advertisements that did not address our questions.

The website has a thorough FAQs section, which may answer most of your questions about the loan process. In addition, it has an active blog that covers all aspects of lending and family finances.

loanDepot provides personal loans with an online application process that is easy and straightforward. It offers phone support, including the ability to call and make a phone appointment with a loan officer, and has a useful knowledgebase with FAQs. While its customer support was not as helpful during our pre-loan question phase, it's still a service worth considering.

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