LendingTree is an online lender exchange marketplace that connects borrowers with a large pool of lenders. It doesn't provide any loans directly but instead acts as a broker for many lenders. The website also provides online tools, such as financial calculators and loan tutorials.

Lending Tree was launched by Doug Lebda and Jamey Bennet in 1996 as CreditSource USA. In 1998, it was rebranded as LendingTree and in 2000 it went public. Since then it has been bought by InterActiveCorp and is now part of Tree.com Inc.

How Does LendingTree Work?

LendingTree acts as a matchmaker between borrowers and lenders. Actually, InterActiveCorp, the company that controls LendingTree also owns dating website, Match.com. The idea behind LendingTree is to make it easier for borrowers to find the best deal on a loan by flipping the relationship between customers and banks and getting lenders to court borrowers instead. LendingTree makes money by selling your information to matching lenders.

What Are LendingTree's Interest Rates?

They vary by borrower. Your rates will be determined by how many lenders are active in your area, the loan amount, the term length and your creditworthiness. To illustrate, a typical range for a $10,000 is 5.99% to 36% depending on your credit. According to LendingTree, the average difference in interest rates between two lenders is 4.74%.

How Much Money Can I Borrow from LendingTree?

Personal loans range from $1,000 to $35,000, and loan terms vary from 1 to 5 years. If you borrowed $10,000 for 36 months at 12.86%, your monthly payment would be $335.02 and your total cost would be $12.060.72. However, the same loan with an interest rate of 7.86%, will have monthly payments of $312.72 and a total cost of $11,257.92, which represents $802.80 in savings.

What Is LendingTree's Application Process Like?

LendingTree's online application is fast and easy to complete. However, you will receive a LOT of attention from the lenders that receive your information. The application asks for basic information, such as the purpose of the loan, how much you want to borrow, credit rating, employment status, income, whether your rent or own your home and your address. Once you submit this information LendingTree sells your information to matching lenders in your area who will contact you by phone or email. LendingTree will perform a soft pull on your credit, but there won't be a hard pull until you apply for a loan.

How Is LendingTree Better Than Other Lenders?

LendingTree makes it easier to filter through the hundreds of lenders available and is available in all states. Instead of filling endless application forms, you just need to fill one form and wait for loan officers to compete for your business. However, you may want to use a virtual phone number and a separate email address you can cancel once you find the right loan. The volume of calls and emails from lenders may become unbearable and once your information is sold to lenders it can be a challenge to get off their lists.

  • APR
    5.99% - 100%
  • Credit Bureau Reporting
  • Loan Amount
    $1000 - $35000
  • Payment Options
  • Max Loan Term (Months)
  • Checking Account Required?
  • Immigration Status Requirements
    Must be U.S. Citizen or U.S. Permanent Resident
  • Lend To Military?
  • Minimum Age
  • Verification Documents Required?
    Recent pay stubs Proof of citizenship/residence
  • Approval Speed (Hours)
  • Customizable Payment Dates
  • Deferred Payments
  • Funding Time
    1-7 days
  • Joint Loans Available
  • No Late Fees
  • No Origination Fee
  • No Prepayment Fee
  • Pre-Approved Soft Credit Inquiry
  • Institution Type
    Marketplace Lender
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0 votes

I been turned down by this company they only work with high salary and people drive brand new cars and a history over 700 or better they some nerve tell me I am not good enough discrimation

0 votes

if your credit is iffy, but you are in need of funds, this is the place to go. They will hook you up to a lending institution, and you will get the funds that you need, but you will PAY for it. They should be looked at as your last resort, and that you are looking at them, evidentally it is. Get the funds, spend it wisely, and do your best to pay them back.

0 votes

First and foremost, its important to realize that Lending Tree is NOT actually a lender. They work as a broker to provide your info to lenders who decide whether or not to offer you a loan. So its possible to go through the whole application without receiving a single offer. What youre almost sure to get are lots of unsolicited phone calls from sales agents, which can be annoying, to say the least.

1 votes

Getting involved with this company was the worst thing Ive done in a long time! First of all, when I applied, I asked them if it would show up on my credit as a hard inquiry, and they assured me that wouldnt happen, but it did! Then they offered me several loans at absolutely horrible predatory rates. Im amazed theyre still in business, but they are! I didnt end up getting a loan with them, but what I did get is tons of sales calls and emails. Stay away!

1 votes

I got this weird ad in my yahoo email and it took me to this place where I filled in some data. I was simply perusing for rates and had no expectation of really borrowing anything. I didn't even finish because it wanted my social and I didnt feel comfortable giving it.

5 minutes later I got tons of phone calls and messages from these people who I kept telling I wasnt interested. Im sure they have sold my name and info to a ton of other people who will be ... calling non stop now too. Help yourself out and keep away from this site. I heard every loan specialist may pull your credit on the off chance that you did give your SSN. More Less

1 votes

LendingTree is not a direct lender. They are a lead generation service that collects information from prospective borrowers, matches them to potential lenders, and then sells that data to the lenders.

This can be a valuable service for people not interested in doing their own research. But submitting your personally identifiable information to lead generators like LendingTree can also result in an onslaught of telemarketing calls from competing lenders trying to win your business.

If that's not something you want to endure, you may want to avoid lending tree.

1 votes

LendingTree operates as a one-stop destination for would-be borrowers. Besides personal loans, LendingTree provides mortgages, auto loans, student loans and debt consolidation. Unlike payday lenders, loans made through LendingTree typically have repayment periods of at least one year; maximum repayment period is five years, rates are fixed and also significantly lower than those for payday loans. A significant amount of information is available through the website, including financial calculators and a blog with articles pertaining to the various services offered. The LendingTree model for all its loans is similar: borrowers ... submit their applications through the online portal. After the application is processed by LendingTree, it is submitted to its pool of lenders. You then receive up to four offers from lenders, after which you select one and begin the final negotiation process. Be forewarned that you may receive fewer than four offers and may in fact receive none, especially if your credit is bad and you have no co-signer. More Less

0 votes

I wish I never clicked on this site! aside for having the worst loan principals I've ever encountered, they are stalkers too! I put in a few little pieces of information, and within a day or two, every college, lending company, auto insurance company, car dealership, and general telemarketing agent was calling me and spamming up my email. I didn't even finish the application, and they wont go away!

1 votes

This company took all of my information and sold it to every other lending company on earth. I was soon getting tons of annoying and unwanted calls from everywhere! I do not reccommend them at all! On top of that, the rates they offered were horrible. My credit is half way decent, but you wouldn't know it based on the offers I received.

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