loanDepot, Inc. ("LDI" or "Company") (NYSE: LDI), a leading provider of products and services that power the homeownership journey, has expanded its equityFREEDOM product suite to include a first-lien home equity line of credit (HELOC). This new HELOC allows the 38.5% of American homeowners without a mortgage1 to borrow from their home’s equity for large expenses such as home renovations or college tuition, or to consolidate high interest credit card debt. It adds another powerful financial tool to loanDepot's portfolio of products and services that support the lifetime homeownership journey of its customers.

"Homeowners are sitting on unprecedented levels of equity right now, particularly those who no longer carry a mortgage," said LDI President Jeff Walsh. "However, even without a mortgage, many feel the pinch of rising expenses, including insurance and property taxes, which put more pressure on monthly budgets. That’s why we’ve added the first-lien option to our equity lending portfolio to support our customers through the entirety of their homeownership journey, not just during the life of their mortgage."

The ability to tap into equity is a major advantage of homeownership as it can lower the cost of borrowing for large expenses - and, in many cases, the interest may be tax deductible2. Many HELOCs on the market today are second-lien loans, requiring homeowners to have an existing mortgage on their property. A first-lien HELOC is for borrowers who don’t have an existing mortgage on their house3.

The equityFREEDOM First-Lien HELOC allows such borrowers to access the equity in their homes with flexible terms which include a three-year draw period, and, in most states, a 10-year interest-only payment period followed by a 20-year amortizing repayment term4.

As part of its phased national roll out, loanDepot’s equityFREEDOM First-Lien HELOC is available now in Arizona, California, Florida, Georgia, Maryland, New Jersey and New Mexico, and will be introduced in additional states across the country by late 2024.

To learn more about loanDepot’s equityFREEDOM suite of home equity lending products visit https://getstarted.loandepot.com/equity-freedom.

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 ResiClub Data: https://www.resiclubanalytics.com/p/record-number-mortgagefree-homeowners-provide-economic-cushion-amid-feds-fastest-ratehiking-cycle-fo 2 loanDepot encourages consumers to consult tax advisors for applicable requirements and details. 3 If a borrower defaults, the lender holding the first lien HELOC would generally have a primary claim on the property over other creditors. 4 In Texas, loanDepot’s HELOC includes a three-year interest only period followed by a 27-year repayment period.

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

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