loanDepot Delivers $1 Million in Cash Back to Customers Through the mellohome Grand Slam Promotion

Program simplifies the homebuying process while offering relief for the mounting costs of transacting in today’s housing market

IRVINE, Calif.--(BUSINESS WIRE)--loanDepot, Inc. (NYSE: LDI) today announced it has delivered more than $1 million in cash-back rebates to customers through its mellohome Grand Slam program.¹ The Grand Slam package was designed to simplify the home buying and selling experience, giving customers access to a suite of home transaction products in a single package that includes real estate and mortgage, all while making home ownership more affordable through a cash-back incentive.

“For many, buying and selling a home can be the most complex financial transaction they will make in a lifetime, and as we look to make homeownership more accessible and affordable for more families, the Grand Slam helps remove the complexity and stress of the transaction while offering a meaningful financial benefit to buyers grappling with today’s challenging housing market,” said Jeff Walsh, president of LDI Mortgage. “Whether they are a first-time homebuyer or a current homeowner looking to move, the program offers support through every stage of the journey.”

Grand Slam customers receive access to the dedicated mellohome concierge service team, who help customers navigate each step of the home buying or selling process, connecting customers with loanDepot loan officers for mortgage loan pre-approvals and reliable real estate agents to find a new home, sell their existing home, or both.

Phoenix-based real estate agent Sanjog Gopal of Keller Williams said, “I’ve been partnering with mellohome and participating in the Grand Slam program for several years because it’s such a win-win-win for all parties. Clients get a great rate on their loan and negotiate a great price on the purchase of their home by using a loanDepot loan officer and a mellohome real estate agent. On top of that, they receive cash back once the transaction is complete, which is incredibly helpful in today’s market. It’s a terrific way for me to bring value to my clients.”

Cash incentives offered through the Grand Slam package include:

• Homebuyers who purchase with a mellohome-network agent and finance through loanDepot can receive up to $3,500
  • First-time homebuyers can receive an additional $1,000
• Homeowners who sell and buy a home with a mellohome-network agent and finance through loanDepot can receive up to $7,000

Additionally, mellohome offers the following benefits to its customers, including those who obtain a Grand Slam package:

• Discounted home security system
• Free smart home package
• Up to three months free of home warranty
• Reduced fees for moving services

First-time homebuyers Justin Sowell and Amandalynn Betts of Warwick, Rhode Island, were informed of the program by their loan officer while searching for a home earlier this year. Capitalizing on the services and incentives offered through the Grand Slam, they successfully closed on their first house and said: “We were very happy to receive our cash back incentive from the Grand Slam program and used the extra money to pay the first month of our mortgage. It was a great experience for us!”

To learn more about loanDepot’s mellohome Grand Slam and other benefits for first-time homebuyers, visit https://www.mellohome.com/grandslam. The Grand Slam package is not available in all states.

About loanDepot

loanDepot (NYSE: LDI) (NMLS # 174457) is an equal housing lender and digital commerce company committed to serving its customers throughout the homeownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster and less stressful to purchase or refinance a home. Today, as one of the nation's largest non-bank retail mortgage lenders, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional and national philanthropic efforts.

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¹mello Home Services, LLC and mello Home Inc. d/b/a mellohome is a licensed Texas (license #9006745) and California (license #02063618) real estate brokerage. For details about mellohome licensing and offerings, please go to http://www.mellohome.com.