Ditech Financial Mortgage Review

About Ditech Financial LLC

Ditech Financial LLC

Ditech is a nationwide home lender with an array of home financing products, the company offers conventional fixed rate, adjustable rate, jumbo loans and special programs such as FHA, VA and HARP. Our core of home financing professionals, which has an average of 15+ years of experience, proactively works with customers to listen to their needs, explain home loan options, and guide them throughout the process, making home financing easy and less overwhelming. If you don’t believe us, check out Ditech Mortgage reviews to see what other LendingTree customers are saying.

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Interest Rates
Fees & Closing Cost
Customer Service

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Working with Ditech Financial

Ditech Financial originates mortgages everywhere across the U.S., except for New York and West Virginia. Because the lender has no physical branch locations, if you choose to apply for one of its available products, this can be done online or by calling customer service Monday through Sunday. You can also locate a loan specialist in your area on the Ditech Financial website. In addition to contacting a loan specialist by phone, assistance can be easily accessed via mail or online chat during business hours. Live on-screen support is another option available for those who need assistance when logged into the online dashboard during the homebuying process.

A visit to the Ditech Financial website will provide homebuyers with information about the various mortgage products offered by the company. You can choose between “Buy a Home” and “Refinance” for a more detailed list, but it’s not always easy to navigate to a particular product. For example, if you are interested in using an FHA loan to buy a manufactured home, it takes several clicks to find this information within the fixed-rate mortgage section.

However, Ditech’s customers across the U.S., first-time homebuyers and current homeowners included, have access to an array of mortgage loan products that can be used for the purchase of single- and multi-family homes, manufactured homes, condominiums, townhouses and the construction of new homes. To secure these loans, the minimum credit score accepted is 620 for conventional and VA loans, while the minimum score accepted for an FHA loan is 580. Your credit score will be confirmed during the underwriting process before your loan is approved or denied.

Ditech Financial mortgage products



Home equity

The mortgage application process

How to apply: Buyers can see if they pre-qualify for a loan by first determining which loan product they want to apply for and entering information about their income, assets and how much they may be able to afford for their down payment. Depending on the results, borrowers can move forward with the application, which can be filled out after creating an account online, or by bypassing this option and going directly to the application where the required information will be entered. You’ll be asked to provide your contact information, as well as information confirming your income, assets and the property you wish to purchase or refinance, if available. This is also where you can lock in your interest rate, which will be held for a limited time (typically 30, 60 or 90 days).

Disclosure process: Buyers can get preapproved for a loan by submitting documentation to verify the information they entered on the application. These documents can include pay stubs, W2s and bank statements. When they are submitted to Ditech via the online dashboard, underwriters can conditionally approve the loan after reviewing the documents and the buyer’s credit report.

Submitting loan for approval: You can submit your loan application via the online dashboard. Once again, the documents you previously submitted will be reviewed, but it’s possible additional documentation will be requested at this stage. These documents can also be uploaded using the dashboard.

Final approval: With each loan product having certain requirements, an underwriter will have to review them for the specific product for which the borrower applied, the information they provided on their application, the verification documents received, the buyer’s credit score and more. Following this review, buyers will be informed of Ditech’s decision to deny or approve their application for a mortgage loan. An appraisal, ordered by the lender, will also be necessary to determine property value. Approved borrowers will receive their closing disclosure at least three days before the actual closing, which they can review and compare with the loan estimate provided earlier in the process.

Closing: Although the application process is digital and can be completed online, closing occurs in person at a location and on a date that has been specified during the negotiation phase of the buying process. The buyer will meet with various parties, such as the seller, an attorney and/or a representative from the title company, to sign loan documents and pay closing costs. Some of the documents that will need to be reviewed and signed include the closing disclosure, promissory note and deed of trust. Once the buyer signs the documents and pays the closing costs, they will be an official homeowner.

Communication during the process

During the application process, buyers can call, email or chat with a home loan specialist who can answer their questions and be a guide for them during the process. There will also be a loan processor assigned who will assist borrowers with various steps, including organizing documents and closing. When logged into the online dashboard, on-screen live support makes it possible for buyers to speak to a home loan specialist whenever they need help with their application and quickly get answers to their questions.

Pros and cons of a Ditech Financial mortgage


  • Quick online application: When applying for a mortgage loan, applicants shouldn’t expect to spend more than 30 minutes filling out the application.
  • Chat capabilities: Online chat capabilities offer buyers an additional method of contact when they need assistance or have questions about their Ditech loan application.
  • On-screen live support: When logged into their account, buyer can get live on-screen support from a Ditech loan specialist.
  • SmartWatch tool: SmartWatch is a free online tool that produces a report to help Ditech customers who are buying or refinancing figure out if they can reduce their mortgage payments, get access to a lower interest rate and more.


  • No physical branch locations: Ditech Financial operates online, so there are no physical branch locations available to customers who would like to apply for a loan or meet with a loan specialist in person.
  • Limited home equity products: Ditech offers a cash-out refinance but does not offer customers other home equity products, such as a traditional home equity loans or home equity lines of credit.
  • Mortgage loan products difficult to locate on website: Certain loan products, such as the cash-out refinance and manufactured home loans, are difficult to locate on the website, making them easy to miss.

Editorial Note: Parts of this article were reviewed by a lender to ensure accuracy prior to publication. The overall conclusions, recommendations and opinions are the author’s alone.

The information in this article is accurate as of the date of publishing.