LendingTree Review: 2022 Edition

Need some emergency funding? If this is the case, you are definitely searching into where you can find the greatest personal loans. You don’t need to look any farther because we’ve got you covered with our evaluation of lending platforms.

You will get the following information if you continue to scroll down this page:

• What exactly is LendingTree, and who would benefit the most from using it?
• How to make an application on LendingTree for a quick loan of money
• The conditions that must be met in order to qualify for a loan from LendingTree
• Client feedback on the lending platform LendingTree
• The benefits and drawbacks of borrowing money through LendingTree rather than other online lenders
• The fees that are involved in making use of LendingTree
• Your right to confidentiality and protection while using LendingTree
• Questions that have been asked repeatedly (FAQ) regarding LendingTree

What does LendingTree stand for?

LendingTree is an online marketplace for loans that enables customers to examine various loan offers and make side-by-side comparisons. However, LendingTree is not a traditional lender in the traditional sense. It is a platform for lending that connects borrowers in the United States with a large network of lenders from all around the world.

The following is a list of the various financial products that are made available by LendingTree:

• Home mortgage
• Equity loans on a home
• Personal loans
• Auto loans
• Loans to businesses
• Reverse mortgages
• Accounts for deposits
• Cards granting credit
• Debt reduction
• Rebuilding credit
• Insurance
• Student loans
• Student loan refinance
• The Consolidation of Debt

Who Would Benefit Most from Using LendingTree?

LendingTree is a good lending option for borrowers who are looking for a fast and easy way to get connected to large authorised lenders. LendingTree connects borrowers with large authorised lenders. It is a service that will match applicants to lenders at no cost to the applicant and will not affect their credit score in any way.

Users can get matched with the top personal loan providers by just filling out a free online application and submitting it online. Borrowers who are interested in making an educated decision can also benefit from this. For instance, prior to applying for a loan, applicants can find out everything they need to know about unsecured loans for bad credit by reading the post.

Beginning Your Experience with LendingTree

Please read on for details regarding how to obtain a loan from LendingTree. You should begin by going to the official LendingTree website. You will need to fill out a free application on their website in order to be matched with a lender. This can be done on their website.

The selection of the kind of loan that best meets your requirements comes first in the online application. Personal Loan was the option we went with. The next step is to decide what the money will be used for. You have the option of selecting from the following:

• Debt consolidation
• Make payments on your credit cards.
• Home improvement
• Purchasing a House
• A significant acquisition
• Car loans and leases
• Expenses for Business Vacations and Weddings
• Transferring and relocating
• Medical expenditures

Other After that, you will need to decide how much money you want to borrow. What is the maximum amount that you are willing to borrow? The lowest amount that can be borrowed is $1,000, while the most that can be borrowed is $50,000.

After that, you will be required to submit the information listed below:

• What is the zip code where you live?
• Where do you live on the street?
• Which kind of home do you have? (owning versus renting)

Estimate your credit

• Excellent (720 or better)
• Good (680-719)
• Fair (640-679)
• Poor (under 640)

You may determine your credit score with the help of the LendingTree credit score tool if you are unaware of what it is.

• When did you enter this world?
• Where do you stand in terms of employment?
• What is your annual income before taxes look like?
• Are you planning to bring on another borrower?
• Your given name
• The number to call
• Email address
• Make up a password for it.

What are the final four numbers of your Social Security number? And that wraps things up! LendingTree, in contrast to other online marketplace platforms, provides its users with a free account that includes a number of useful features at no cost. Consequently, be sure that you don’t forget your credentials to log in to LendingTree. You also have the option to start by registering for a free LendingTree account and then filling out the form.

LendingTree Loan Terms

It does not cost anything to use the personal loan services or any of the other financial services offered by LendingTree. You can also check your credit score for free by using the LendingTree mobile app after creating an account on the website.

The following is a list of the conditions for a loan with LendingTree:

You must be 18 or older, You are required to have a legitimate social security number, a consistent source of income, and a credit history that demonstrates responsible financial behavior.

A satisfactory ratio of debt to income (36 percent or less). Your ability to acquire a loan, as well as the rates you’ll be charged for it, will be impacted by the amount of debt you already have under your name as well as the ratio of that debt to your income.

Within three to seven years, the loan will need to be repaid in full. Online marketplaces for lending money typically offer an approximation of the loan’s annual percentage rate. The lender will ultimately have the most say in the rates that are applied.

We suggest that you read the LendingTree Personal Loan Offers Report – April 2020 to get an idea of the interest rates that might be available to you. You have the option of borrowing any amount from $1,000 all the way up to $50,000.

Now:

When applying for a loan through Lending Tree, what minimum credit score is required? Even though there is no specified credit score that must be met in order to apply, applicants with higher credit scores have a better chance of having their loan applications accepted. In addition to this, having a score of at least 585 is highly encouraged. You can take advantage of the credit rehabilitation services offered by LendingTree if you have a low credit score. You might also be interested in reading the post that we have here on how to establish credit.

This will not have an effect on your credit score if, for instance, you are only utilising the LendingTree platform to research different student loan options. Lending platforms will do a “soft pull” on your credit report in order to match you with unique lenders. This will not affect your credit score. Your credit score will not be negatively affected by light draws or enquiries.

However, once you have been matched with the best available lenders and have compared multiple loan offers, you may choose to go with one of the loan offers and apply for a loan with that particular lender. This decision can be made after you have been matched with the best available lenders and have compared multiple loan offers. A hard pull or hard inquiry is what the loan provider will undertake before making a judgement on whether or not to lend money. Your credit score may suffer as a result of this.

User Reviews

After looking at evaluations of LendingTree available online from a variety of sources, we will now summarise both the positive and negative aspects of these reviews.

These are some of the positive reviews of LendingTree that we came across:

• The application process is lightning quick and very straightforward.
• The money from the loan can be obtained in as little as a week.
• Your regular expenses can go down if you get a loan with LendingTree.
• The most effective comparing tool.
• There is no requirement for you to submit your application in person because you can acquire a personal loan online.
• The customer service department displays professionalism.
• The quickest and most convenient way to borrow money online immediately.

And here are some examples of negative reviews that we come across for LendingTree:

• A significant number of phone calls were made to the applicants.
• A significant number of advertisements were sent to the applicants.
• High interest rates were made available to applicants who had an exceptional credit score.
• One of the lenders that LendingTree recommends has poor service for customers.

LendingTree Rates & Fees

LendingTree does not charge borrowers any fees to use their service in order to be connected with financial institutions that provide personal loans. If an application receives a loan from a lender that LendingTree directed them to, then LendingTree is entitled to a commission.

Having said that, each individual lender determines the charges that are associated with the loan on their own. For this reason, prospective borrowers should always examine the loan agreement before signing to ensure that it details all of the possible fees. There are several fees that some lenders could levy, such as an origination fee or a fee for late payments.

In addition, a legitimate lender will never ask you to pay a fee up front to guarantee or insure a loan. If they did, they wouldn’t be a legitimate lender. In this article by LendingTree, you will get additional information regarding the interest rates that are charged by various peer-to-peer lending organizations.

Privacy & Security

The following precautions are taken by LendingTree in order to safeguard your information:

• SSL encryption with 128-bit key size Firewall protection
• However, no method of electronic data transfer or storage can be guaranteed to be completely safe.
• Let’s go on to the next topic, which is your privacy.

The following information about you is collected and stored by LendingTree:

• Information that can be used to identify someone, such as their name, address, social security number, phone number, and so on.
• Additional information, such as your internet activities, demographic data, and the like may also be collected.

The following sources were used to acquire the information:

• Cookies and other tracking technologies, the user (the information you supply via the online form, over the phone, etc.), Service providers (credit bureaus, etc.), the user themselves (the information they offer), etc (IP address, browser type, Internet Service Provider etc.).

The following are some of the reasons why:

• You have asked for a specific product or service, thus I will provide it to you.
• In order to enhance the quality of their website, customer service, and the individualization of your user experience,
• Talk to you about various items and services that you might be interested in purchasing.

Your information might be shared with the following parties:

Affiliates of LendingTree, LendingTree’s network of lenders, and LendingTree’s service providers are all referred to as “LendingTree” (credit bureaus, marketing partners, etc.).

Customer Support

You can get in touch with LendingTree by calling them, sending them mail, or using the online contact form on their website. The following are the operating hours for LendingTree:

Monday—Thursday

8 am — 9 pm EST

Friday

8 am — 8 pm EST

Saturday

10 am — 7 pm EST

Final Verdict/Summary

Now that we’ve discussed what we liked and didn’t like about LendingTree, let’s summarise our findings.

The most helpful aspect of their company, in our opinion, is their extensive website, which covers a variety of financial topics in the form of articles. In addition, we enjoyed the benefits and features that were made available to users of the app who had registered for an account and downloaded it.

The fact that receiving a loan only requires going through a few simple procedures was another thing that appealed to us about the service. The fact that after utilizing LendingTree, applicants are bombarded with phone calls and emails was one of the things that we did not enjoy about the service. Having said that, this is the situation with all online loan services.

In general, we believe that LendingTree is one of the best companies out there that connects borrowers and lenders. This is the most effective method for obtaining financial assistance because it does not require you to submit individual loan applications, which can be a time-consuming process.

STRENGTHS

• Wide variety of lending options
• The interest rates are fixed.
• Payments made on a regular basis
• Reputable partner lenders
• The LendingTree loan calculator’s Frequently Asked Questions section and expert blog
• Within a week, funds are able to be transferred.
• A rating of A+ from the Better Business Bureau attests to our reliability.

WEAKNESSES

• There is no assurance of approval.
• Your information might be distributed to other parties.
• To browse the available deals, you will need to first create an account.
• The final loan amount and term are up to the lender’s discretion.
• Before making a financing decision, creditors might do a thorough investigation first.

LendingTree FAQ

What does LendingTree do?

LendingTree is a web-based platform that, based on the information that borrowers supply in their online application, connects them with the best accessible loan providers in their area.

How much money is it possible to get via the Lending Tree?

In most cases, the amount of money you can borrow falls in between $1,000 and $50,000.

I have bad credit; can I still get a loan through LendingTree?

You’ll discover both personal loans for people with terrible credit and personal loans for people with good credit available through LendingTree. If you have a low credit score, it is still possible to receive a loan; however, the interest rates will be much higher. It is recommended that you find a cosigner in order to boost your chances of being approved for a loan.

Does LendingTree verify income?

There will be a need for income verification on the part of the loan provider. Lenders will typically want you to submit the following documents whenever you apply for a loan:

• Evidence of both employment and financial stability
• Statements and other information on bank accounts
• As evidence of other debts.
• LendingTree could potentially have an impact on my credit score.

If you use LendingTree to research and contrast various short-term loan options, then your credit score won’t be negatively affected. When you submit a loan request through LendingTree, the company will simply perform a “soft pull” on your credit record.

Having stated that, the procedures regarding credit checks are governed differently by each lending institution. Some lenders will run a hard draw on your credit before making you an offer for a loan, while others won’t do that until after you’ve accepted their offer.

Can you get a good personal loan with LendingTree?

If you are looking for a personal loan, LendingTree is a fantastic choice to consider. They have positive ratings online from customers who have had their loans authorized. In addition, the website addresses any and all concerns that prospective borrowers might have prior to submitting an application for a loan.

How does LendingTree personal loan work?

To begin, prospective borrowers must visit the LendingTree website and complete an online application. After that, LendingTree will make use of the information to pair the applicant with the most qualified lenders who are currently available. After that, the borrower can evaluate each of the options and select the one that best meets their needs.

When I apply through LendingTree, will my information be kept private and secure?

LendingTree will encrypt any information that you send their way before it is stored. Having said that, no method of electronically transmitting or storing data is completely safe. Your information may also be shared with LendingTree’s affiliated businesses and business partners.

How does LendingTree stack up against the competition compared to other lenders?

According to the testimonials that we read online, the majority of customers were pleased with how quickly and easily the process could be completed. However, we did come across more positive reviews regarding the Credible debt consolidation service, and many people believe Credible to be the greatest student loan refinancing alternative.

Having said that, practically all of the different kinds of personal loans that are offered by LendingTree have received positive evaluations. Be sure to check out some further reviews of the personal loans offered by LendingTree before making a choice.

Read our reviews of Credible, Even Financial, Guide to Lenders, 5k Funds, Loans Under 36, Monevo, Upgrade, and AmOne, as well as PersonalLoans.com. We also recommend that you read these reviews.