LendingTree 2024 Review
LendingTree Loan Review – Best Business Loan Marketplace 2024
Compare rates and coverage from multiple lenders quickly and easily to find the best match for you on business loans, auto loans, home loans, and more.
Finding and comparing lots of loan options often means consumers have to spend a lot of time looking at competing websites. For those who want to compare quotes and coverage quickly and in one place, LendingTree does just that.
LendingTree has been in the industry since 1996. They connect borrowers with multiple lenders offering a variety of loan types, giving consumers the power to choose the best options. LendingTree also offers personal finance services and tools, giving consumers access to important financial information and educational resources all in one place.
LendingTree does not administer any loans on its own; instead, it is a comparison shopping and match site that shows borrowers their options from a variety of lenders.
Simply answer a few questions, compare your options, and choose the loan that’s right for you. LendingTree does not take any markup on its transactions, so you get the most competitive rates available from the listed lenders.
LendingTree: What You Need to Know
LendingTree is not an actual lender. It is a loan aggregator and comparison marketplace that allows consumers to shop for the best rates and coverage and get matched directly with loan providers.
Loans available on LendingTree run the gamut from big-name companies to individual lenders. If you’re worried about the financial stability of the lender you choose, be sure to carefully look at all the details before selecting your loan option.
In addition to its loan-matching service, LendingTree offers a variety of financial literacy resources and helpful tools. These include a credit and debt analyzer, loan calculators, and credit repair services.
How Does LendingTree Work?
LendingTree aims to help consumers find the best rates and best terms on a variety of consumer and LendingTree business loans by matching borrowers with lenders.
Compare Lenders Online
Borrowers benefit from the competition between lenders for business, giving you access to lower rates than you may find otherwise. Compare multiple lenders at once, saving you time through the whole process.
Apply for a Loan
Once you select your loan, complete the process right on LendingTree’s website. The whole process takes between 15 and 30 minutes.
Because of the wide variety of lenders and loan requirements, many borrowers find it easier to secure a loan from LendingTree than from their bank or other, more traditional lenders.
However, these more flexible lending terms often come with higher interest rates, something borrowers need to carefully compare when shopping.
Get Connected with Your Lender
You will complete the loan approval process directly with your chosen lender, and all repayments will go to the lender. Once you have matched with your loan and lender, LendingTree’s involvement in the process is over.
Where is LendingTree Available?
LendingTree is available to borrowers in all 50 states, but eligibility for certain lenders and loan types will vary from state to state.
What Types of Financial Products Does LendingTree Offer?
LendingTree helps match borrowers and lenders for a variety of loan products, both for personal and business use.
Home Loans
Borrowers looking for a loan to purchase a home, refinance an existing mortgage, or take out a home equity line of credit can be matched on LendingTree.
Some of the types of home loans available through LendingTree’s network include:
- Home loans
- Home refinances
- Home equity loans
- Home equity lines of credit
- Reverse mortgages
- FHA loans
- VA loans
Auto Loans
LendingTree can match consumers with a variety of auto loans from different lenders, including:
- Auto loans
- Auto refinancing loans
- Boat loans
- RV loans
- Motorcycle loans
- Powersport loans
- New car financing
Personal Loans
Take care of unexpected or large expenses with personal loans from LendingTree’s network of partners.
Some personal loans available include:
- Debt consolidation loans
- Unsecured loans
- Holiday loans
- Pool loans
- Dental loans
- Emergency loans
Student Loans
If you’re thinking of going to college, or have a family member who is, LendingTree can help you match with private loan providers.
LendingTree’s partners offer both student loans and loans to help you refinance current student loans.
LendingTree Business Loans
LendingTree doesn’t just match for consumer loans; borrowers can even get business loans through the company’s partner network.
Some of the business loans available through LendingTree include:
- Small business loans
- SBA loans
- Short-term business loans
- Long-term business loans
- Business lines of credit
- Working capital loans
- Equipment financing
- Accounts receivable financing
- Merchant cash advances
LendingTree Features:
- Founded in 1996 by Doug Lebda
- Headquarters in Charlotte, NC
- Wide variety of loan types available
- Competitive rates and easy comparisons between lenders
- Educational resources and tools help you get a full picture of your financial life
- Only takes 15 to 30 minutes
- Flexible loan qualifications, depending on lenders and types of loans chosen
- Over 50 billion loans served
- Also offers comparison shopping for credit cards for personal and business use
- Also offers access to home and auto insurance companies and their rates
LendingTree Reviews
LendingTree has more than 200 customer reviews on the Consumer Affairs website, and an average rating of 4.5 out of 5 stars.
“This is the second time that we have secured a personal loan through LendingTree to give us the financial capability to upgrade living conditions in and around our home. Our first loan we were in serious need for help on closing costs and furniture. LendingTree found us a company willing to help us. The interest rate was not the best and the monthly payment was costly but affordable in our budget. We paid off that loan in two years. Our credit score has improved well due to following a strict budget and not falling further in debt.” - Joseph
“Like most people we just spent years in the making to get our credit to where it is. Making payments on time, never missing payments. Watching credit scores all the time. But after all the hard work and the teamwork we are in a great place. With that we have the opportunity to obtain loans with great people like LendingTree. Honest and very helpful with advice on the loan and just a great experience with great service. With their help we will continue to keep our credit in tact and working on getting higher scores with their help.” - Paul
How to Apply for Loans with LendingTree
The process varies from lender to lender, but it’s quick and easy to view and compare loan options with LendingTree.
- Visit www.lendingtree.com.
- Select the type of loan you are looking for.
- Choose why you would like to get a loan, and how much you would like to borrow.
- LendingTree will ask for other basic identifying information about you to help match you with the right type of lenders. This information can include your credit score, how much money you make, and the last four digits of your Social Security number.
- You will be presented with the available loan options and lenders so you can compare and contrast rates and terms.
- Once you have selected the loan product you want to apply for, you will work directly with the lender you choose to complete the process.
How to Contact LendingTree
Website: www.lendingtree.com Address: 11115 Rushmore Drive Charlotte, NC 28277 Customer Service: (800) 813-4620 Monday-Thursday, 8 a.m.-9 p.m. EST Friday, 8 a.m.-8 p.m. EST Saturday, 10 a.m.-7 p.m. EST Facebook: https://www.facebook.com/LendingTree Twitter: @LendingTree Instagram: @lendingtree Pinterest: https://www.pinterest.com/lendingtree/ YouTube: https://www.youtube.com/user/lendingtree
LendingTree Pros
- Been in business for more than 20 years, with a trusted network of lenders
- Billions of loans and customers served
- A+ rating with the Better Business Bureau
- Wide variety of loan types available, including home, auto, business, and student
- Lenders compete for business, so you get lower rates
- Flexible lending requirements available
- Quick and easy way to comparison shop for loans
- No up-front fees or closing costs paid to LendingTree
LendingTree Cons
- Not a direct lender
- Some lenders may be less solvent and trustworthy than others
- Some borrowers may be uncomfortable giving LendingTree their personal information
- Must finalize loan process directly with the lender
LendingTree Cost
LendingTree does not charge any fees or closing costs to use its service. It is free for all consumers to compare loans and get matched with lenders.
Instead, LendingTree makes its money through partnerships with various lenders that compete for borrowers on the site.
Your specific chosen lender will have interest rates, closing costs, and other associated fees that vary based on the lender chosen, the type of product you choose, the amount you borrow, and your individual qualifications for your loan.
Summary
While it is not a direct lender, LendingTree helps connect borrowers looking for various personal and business loans with lenders that can give them the best prices. Just give LendingTree a little bit of information about yourself and the loan you’re looking for, and they return a list of matches for you to compare.
Loan shopping is quick and easy with LendingTree, and the company doesn’t make any money off helping you get the best loan for your needs.
Frequently Asked Questions
Does LendingTree charge any type of fee for the matching service?
No, LendingTree doesn’t charge individual consumers anything for helping match them with the right lender.
What interest rates are charged?
Because interest rates vary based on the lender, the type of loan you take, the amount of loan you take, and your individual qualifications, LendingTree can’t tell you what interest rates to expect without you beginning the loan process.
Is LendingTree available outside the United States?
No, LendingTree is only available to those living in any of the 50 states. Availability of individual lenders and types of loans does vary from state to state.
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