LendingTree Review
About LendingTree
LendingTree is an online marketplace that helps connect you with various types of potential lenders. Whether you’re looking for a mortgage, an auto loan, a personal loan or another form of financing, you can answer a few questions on the LendingTree website to have the company put you in touch with the right match for you. The service is free and doesn’t affect your credit score, and it’s available nationwide.
What is LendingTree?
LendingTree is an online marketplace that connects you with its extensive lender network so you can find the right loan for your situation. Its partners offer home loans, personal loans, auto loans, business loans, debt relief, debt consolidation, credit cards, insurance plans, credit repair services and other financial products.
You can compare loans directly on LendingTree’s site or contact loan officers to negotiate rates. Some of its lenders can fund loans in as little as 48 hours. You can sign up for a free LendingTree account to check your credit score and get started.
The company also suggests ways to improve your credit and can help you find loans that beat your current rates if you’re already paying off a loan.
How does LendingTree work?
LendingTree can match you with several loan offers within just a few minutes. Its partners offer a variety of financial products, including:
- Mortgages
- Personal loans
- Business loans
- Student loans
- Auto loans
- Debt consolidation
- Debt relief
- Credit cards
- Credit repair
After answering a brief series of questions, you receive a list of lenders suited to your situation. Typically, you can apply with the lender immediately — but you can also simply compare rates if you’re not ready to move forward with a specific offer.
Make sure you have financial information ready when applying, including your income and a list of debts and assets. Each lender has its own borrower qualifications, so having a handle on your profile can help you easily compare the most realistic annual percentage rates (APRs) and loan terms.
LendingTree also offers helpful tools like calculators, informational resources and credit-checking services. If you’re planning to buy a home, for instance, the site’s multiple loan calculators show your mortgage options, advice on whether you should rent or buy and other relevant information for potential homebuyers.
LendingTree rates
LendingTree’s matching services are free, but APRs from its partners vary by lender, your financial profile, the product and your location. Be sure to compare offers to find the most favorable rates, terms and fees.
Interest rates can also change daily, so comparing offers is the best way to get an idea of the range you can expect to receive.
Typically the lender sets your rate based on your credit score (you can expect to get decent rates if your credit score is in the upper 600s or higher — if your score is around 620 or below, you may have difficulty qualifying at all, especially for a good rate).
Is LendingTree legit?
LendingTree’s free loan comparison tools can save you a significant amount of time and effort as you research potential lenders. It offers a wide array of services and access to a large lender network.
Whether you need a mortgage, an auto loan, a personal loan to fund a large purchase or another form of financial assistance, LendingTree can help you quickly compare offers and find the best rates and terms for your situation.
