About Lender
LendingTree is an online lending platform that connects borrowers with multiple lenders so they can compare rates and terms and find the right loan for them. They offer personal loans, mortgages, auto loans, business loans and more.
To use LendingTree, just fill out one application online and they’ll match you with lenders who may be a good fit for you. Then you can compare the loans you receive and choose the one that’s best for you.
Key Features
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Loan Marketplace. Borrowers can compare loan offers from multiple lenders. So they can find the best rates and terms for them.
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One Application. Borrowers can fill out one application online and it will be sent to multiple lenders. No more filling out multiple applications.
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Credit Score Monitoring. LendingTree offers credit score monitoring so borrowers can track their credit score and get alerts when there are changes to their credit report.
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Loan Calculators. They offer various loan calculators including loan payment calculators, debt consolidation calculators and mortgage calculators.
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Customer Support. LendingTree offers customer support by phone, email and live chat to help borrowers with any questions during the loan process.
Pros and Cons
Pros
Simple to Use. LendingTree’s online platform is simple to use and allows borrowers to compare loan offers from multiple lenders in one place.
Time Saver. By filling out one application, borrowers can save time and reduce the hassle of filling out multiple applications with multiple lenders.
Many Loan Options. LendingTree offers many loan options including personal loans, debt consolidation, auto loans, business loans and more.
Competitive Rates. LendingTree’s loan marketplace allows borrowers to compare rates from multiple lenders so they can find better loan rates and terms.
Cons
Spam. By filling out one application, borrowers may get multiple calls and emails from different lenders which can be annoying or frustrating.
Limited Choice. Customers have limited control over the lenders that contact them so they may get offers from lenders that don’t meet their needs.
Fees. LendingTree charges lenders to participate in their loan marketplace so borrowers may get higher rates or fees.
Not Enough Info. They may not provide all the information customers need to make a decision like detailed info on a specific lender’s policies or loan requirements.
Reliabilty
Reputation. LendingTree is a well established company with over 20 years in the loan comparison business.
BBB Accredited. Accredited by the Better Business Bureau with an A+ rating for good customer service and transparency.
Publicly Traded. Listed on the NASDAQ stock exchange so they are transparent about their financial performance.
Track Record. Has helped millions of consumers find loans for their needs.
Risks. Possible spam from multiple lenders and lender fees that may affect borrower rates.
Legit. Considered a legit platform to compare loan offers from multiple lenders.
How to Apply for a LendingTree Loan?
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Visit The LendingTree Website. Navigate to the official LendingTree website.
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Choose Personal Loans. Select the "Personal Loans" option from the available products.
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See Personalized Results. Click the "See Your Personalized Results" button to begin the loan application process.
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Select Loan Purpose. Indicate the reason for the loan, such as debt consolidation, home improvement, or other purposes.
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Provide Loan Details. Specify how much you need to borrow and how quickly you require the funds.
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Enter Personal Information. Input your date of birth, whether you rent or own your home, and your estimated credit score.
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Provide Employment And Income Information. Answer questions about your employment status, whether you receive direct deposit, and your annual income before taxes.
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Enter Address And Contact Details. Provide your ZIP code, full address, name, and phone number.
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Review Loan Options. After submitting the necessary information, view your personalized loan options and select the one that best fits your needs.
Conditions
Loan Amount. You can apply for loans up to $50,000, depending on your eligibility and lender offerings.
Loan Terms. The loan terms range from 61 days to 180 months, providing flexibility in repayment options.
Interest Rates. Rates start at 5.99% APR and go up to 35.99% APR.
Requirements
Credit Score. A good to excellent credit score is typically required.
Age. Applicants must be at least 18 years old to qualify for a loan.
Residency. You must be a legal U.S. resident or citizen to apply for a LendingTree loan.
Income. A stable and verifiable source of income is required, with income thresholds varying by lender.
Employment. Steady employment or proof of consistent income is necessary to qualify for most loan options.
Debt-to-Income (DTI) Ratio. Your DTI ratio should be within acceptable limits, typically below 43%.
Ways to Recieve the Money
Once a borrower has chosen a lender and agreed to the loan terms the lender will provide instructions on how to fund the loan. This may include submitting documentation such as proof of income or identity and transferring funds to the lender to pay any upfront fees or down payment requirements. The requirements and timeline for getting the money will vary by lender, loan type and borrower. Some lenders may require additional documentation or underwriting before the loan can be funded which can add time to the process. The process of funding a loan through LendingTree will depend on the lender you choose to work with and borrowers should follow the lender’s instructions and requirements to ensure a smooth and timely loan funding.
Products
Personal Loans. Unsecured and can be used for debt consolidation, home improvement, medical expenses.
Business Loans. LendingTree offers business loans for small business, startup, established business, term loans, lines of credit, SBA loans.
Student Loans. Student loans to cover higher education costs.
Debt Consolidation. Debt consolidation loans to consolidate multiple loans into one monthly payment.
Auto Loans. LendingTree offers auto loans for new and used cars, auto loan refinancing.
Student Loan Refinance. This product allows borrowers to refinance existing student loans to lower their monthly payments and interest rates.
Mortgages. LendingTree offers fixed rate and adjustable rate mortgages, home equity loans, FHA loans, VA loans, jumbo loans.
Credit Cards. The company offers credit cards from multiple issuers to help borrowers build credit or earn rewards.
Auto Refinance. Refinance your existing auto loan to potentially lower your monthly payments and interest rates.
Other Personal Loans
Reasons for Loan Refusal
LendingTree is a loan comparison platform that connects borrowers with multiple lenders; we do not make lending decisions. Loan denials by lenders on LendingTree can be due to low credit score, high debt-to-income ratio, insufficient income, unstable employment history or incomplete application information. Each lender has their own criteria so meeting the requirements of one doesn’t guarantee approval from another. It’s best to review and improve your financial profile before applying to increase approval chances.
How to Repay a LendingTree Loan?
LendingTree is a loan comparison platform that connects borrowers with multiple lenders; we do not issue loans. So repayment terms and methods will vary by lender. Lenders may offer options such as automatic withdrawals from your bank account, online payments through their website or mailing checks. Review your loan agreement for specific repayment instructions and contact your lender directly for any questions or help with payments.
Loans like LendingTree
OppLoans
OppLoans is a notable financial service provider that offers consumer loans varying from $500 to $4,000. They expedite the funding process to ensure that approved applicants receive the necessary funds promptly, which is advantageous for those dealing with immediate financial concerns. OppLoans offers adaptable repayment conditions, giving customers the choice between 9, 12, and 18-month loan terms. This adaptability allows borrowers to opt for a repayment plan that matches their financial ability, ensuring a seamless and manageable loan journey.
Rise Credit
RISE Credit is a reliable online lender that provides loans up to $5,000. They have a streamlined application procedure, allowing borrowers to have funds transferred to their accounts as early as the next business day. They present the flexibility of choosing a payment schedule that fits with the financial preferences of the customers, although some state-based restrictions might apply. A notable feature of RISE Credit is its 5-Day Risk-Free Guarantee, which permits borrowers to revoke their loan and return the principal with zero fees or interest within the given period. Additionally, RISE Credit grants customers complimentary access to their credit score and credit monitoring alerts through Credit Score Plus, offering valuable financial insight.
OneMain Financial
OneMain Financial stands as a distinguished and enduring lender, offering personal loans that range between $1,500 to $20,000. Boasting a century’s worth of experience in the financial sector, they have garnered the trust of a vast customer base. Their loan terms include fixed rates and fixed payments, offering a predictable and manageable repayment scenario to borrowers. OneMain Financial emphasizes personalized service, ensuring that the distinct needs of each customer are addressed. With a widespread network of approximately 1,400 branches, they provide easy access and convenience for individuals in search of financial aid.
Universal Credit
Universal Credit requires applicants to have a minimum credit score of 560, thus excluding those with no credit history. It is appealing for its credit-enhancement features, making it suitable for individuals with fair or poor credit looking to better their scores. Providing larger loan amounts than Oportun and next-day funding upon approval, it emerges as a solid choice for significant, urgent financial needs. Universal Credit extends its loan services across all 50 states and Washington, D.C., offering a wide geographical coverage.
Editorial Opinion
Important
How to Choose a Lender
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Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.
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Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.
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Carefully review all the terms and conditions of your payday loan contract.
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Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.
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Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.
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Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.
Additional Resources
- Full LendingTree Account Review
- How to Apply for a LendingTree Loan
- How to Repay a LendingTree Loan
- All LendingTree Coupons and Promo for January 2025
