LendingTree matches you with lenders to get the best deal.
You may have seen one of the company’s TV commercials with the tagline “When banks compete, you win.” That’s the model LendingTree revolves around: Depending on what you need — whether that’s a mortgage loan, personal loan, student loan or even a credit card — LendingTree finds out a bit about you and matches you to providers that can best help you.
LendingTree Personal Loans
What everybody ought to know about LendingTree and the personal loans it provides.
- Recommended Credit Score: 640 or higher
- Min. Loan Amount: $1,000
- Max. Loan Amount: $35,000
- Loan Term: Varies based on lender
- Interest Rate: From 5.99% (fixed)
- Easy application process
- Multiple offers
- Low APR
What is LendingTree?
You can acquire loans through LendingTree, but it’s not a lender. Rather, LendingTree is an online marketplace where you can get matched with loan offers.
Essentially, LendingTree works by pointing you toward different lenders. The basic process works like this:
- Fill out an online form. Tell LendingTree the type of loan you’re looking for, as well as basic information about yourself.
- Review offers from multiple lenders. You’ll see several offers that are customized to your profile.
- Accept an offer and start working with the lender. When you find a loan offer you like, you’ll be forwarded to a representative with whom you can finish the process.
It doesn’t cost anything to use LendingTree; however, you may need to pay fees assessed by the lender, including processing fees or closing costs.
Apply for a variety of loans through LendingTree
How does LendingTree make money?
LendingTree isn’t a lender, and it doesn’t make money by offering loans. So, how does the company make money?
As an online loan marketplace, LendingTree makes money by directing you to lenders. Banks find customers through LendingTree, and in turn they pay LendingTree for the referrals.
Keep in mind that you are never under any obligation to pay LendingTree any fee, and you are never required to accept any loan offer you’re presented.
Loans and products you can find through LendingTree
Here’s a quick rundown of what types of loans and products you can find through LendingTree:
|Type of finance||Uses||Term of finance||Secured or unsecured|
|Personal loans||Almost anything you can think of. Debt consolidation, credit card consolidation, major purchases, vacation, wedding, moving and even medical expenses can be covered with these loans.||1 to 10 years.||Unsecured.|
|Home mortgages||Buy a single family home, a multiple family dwelling home, a condo, a townhouse, or a mobile home.||15 or 30 years, fixed.||Secured. Your home works as collateral.|
|Mortgage refinancing||Trade equity you’ve built in your home for cash.||15 or 30 years, fixed.||Secured. Your home is also used as collateral for this loan.|
|Auto loans||Buy a new or used car, refinance one you already have or buy out a lease. Also available for boat, RV and motorcycles.||12 to 72 months.||Secured. Your car works as collateral.|
|Small business loans||Sole proprietorships, partnerships, corporations and limited liability companies can finance their business.||Up to 40 years, depending on the lender.||Secured. Collateral options depend on the loan, but can range from equipment or the building your business operates out of to personal assets.|
|Credit cards||Personal, student and business credit cards are available to suit your individual needs. You can also filter by credit score, balance transfers, cash back, travel, 0% APR, no foreign transaction fees, rewards and those with no annual fee||Ongoing.||Unsecured.|
Compare LendingTree to other online lender matching services
Things to look out for
Before proceeding with LendingTree, protect yourself by keeping these things in mind:
- You are never under any obligation to follow through with an offer. Offers presented on LendingTree are just that — offers. Browsing on LendingTree does not mean you are locked into taking out a loan, and you can stop using the site at any time without paying anything.
- You can use LendingTree at no cost. LendingTree does not assess fees for you to use its site. However, you may need to pay fees (like closing costs) when you finalize a deal with a lender.
- Expect calls from lenders. When you use LendingTree to look for a loan, your contact information will be passed on to banks. At that point, expect to be contacted by various banks.
Frequently asked questions
Will LendingTree help me if I have bad credit?
LendingTree will find loan options for you even if you have poor credit. Keep in mind, however, that lenders will offer better loan terms for better credit.
How long has LendingTree been in business?
LendingTree was founded in 1996. It was acquired in 2003 by InterActiveCorp, which owns web properties like About.com, CollegeHumor, Investopedia, and The Daily Beast.
Why is LendingTree free?
LendingTree makes money by directing consumers to various lenders. Banks pay LendingTree to reach potential customers. For that reason, LendingTree is free to use for consumers.
How do I stop calls from LendingTree?
You can sign up for LendingTree’s Do-Not-Call List online.