loanDepot, Inc. (“LDI” or “Company”) has recently announced the expansion of its equityFREEDOM portfolio, allowing nearly 50 million American homeowners to access their tappable home equity. This expansion includes 10- and 30-year fixed-term options in addition to the existing 20-year fixed-rate home equity loan and first- and second-lien home equity lines of credit (HELOCs). This move aims to provide homeowners with more flexibility and options when it comes to utilizing their home equity.
With the addition of these new fixed-term options, homeowners now have the ability to choose a loan term that best suits their financial situation and goals. Whether they prefer a shorter 10-year term for quicker repayment or a longer 30-year term for more affordable monthly payments, loanDepot is offering solutions to meet a variety of needs.
For many homeowners, tapping into their home equity can provide much-needed funds for home improvements, debt consolidation, education expenses, or other major expenses. By expanding its equityFREEDOM portfolio, loanDepot is making it easier for homeowners to access the equity in their homes and use it to their advantage.
This move by loanDepot is expected to have a significant impact on individual homeowners, giving them more options and flexibility when it comes to managing their finances. By providing access to tappable home equity through fixed-term options, loanDepot is empowering homeowners to make informed decisions about their financial future.
In conclusion, the expansion of loanDepot’s equityFREEDOM portfolio is a positive development for American homeowners, offering greater access to their tappable home equity and more flexibility in managing their finances. With the addition of 10- and 30-year fixed-term options, loanDepot is making it easier for homeowners to leverage their home equity for various purposes, ultimately helping them achieve their financial goals and secure their financial wellbeing.
