Lending Tree
Getting a personal loan is a great way to quickly get cash if you need funding for an emergency expense, home project, or safety cushion. Other short-term lending options often carry high interest rates and less than favorable terms. However, when you need a personal loan finding the best lender can be challenging because there are so many on the market. Tools like LendingTree enable customers to compare verified lenders against each other so they can ultimately apply for a personal loan that meets their needs. Today we’re going to dive into LendingTree’s Services and see if they are a good match for you.
- Many different types of loans available
- Useful online mortgage calculators
Pros
- No fees to worry about
- A trusted and experienced broker
- Wide range of loan rates and terms
Cons
- Specifics can vary depending on the lender you choose
LendingTree Overview
Founded in 1996, LendingTree has spent decades serving its customers and connecting potential borrowers with reliable lenders. Its purpose is to simplify the loan application process and ensure that borrowers get loan terms and interest rates that work for them that work for them. Today, any potential applicant can use the LendingTree platform to quickly and easily research, compare, and apply for a personal loan.
How Does LendingTree Work?
LendingTree is an online loan brokerage company. This means that they do not offer the loans directly; instead, they serve as a marketplace that matches borrowers and lenders. Once a customer submits some personal information and completes a quick survey, LendingTree will generate various quotes from different lenders so the applicant can compare options and shop around. Since LendingTree receives a commission from lenders if someone takes out alone, its service is free to use.
Another advantage of utilizing LendingTree’s services is how much time you will save. If you wanted to compare lenders by going to their websites, filling out an application, and waiting for them to get back to you, it could take hours. However, LendingTree simplifies the process because it consolidates all of the different lenders in one place so you can compare the rates and terms in real-time.
Customer service and privacy protection are top priorities for LendingTree, and all credit types are welcome to submit a loan request through the LendingTree platform
Back to top ↑LendingTree Personal Loans Features
LendingTree works with many different lenders, so the actual rates, terms, and specifics of each loan will vary, depending on which lender you end up working with. Still, here are some of the primary ranges offered by the lenders you’ll find on LendingTree:
- Amounts – You can find personal loans ranging from $1,000 up to $50,000 on LendingTree, making them ideal for a variety of financial goals.
- Fees – There are no fees for using LendingTree’s platform, but you might have to pay fees with the lenders if you take out a loan.
- APR – Interest rates vary from 2.49% up to 35.95% on LendingTree.
- Terms – You can find both short and long-term personal loans on LendingTree, ranging from three months up to 180 months (15 years) which provides a great deal of flexibility.
LendingTree Personal Loans Requirements
Eligibility requirements vary depending on the lender; however, there are a few essential requirements to use LendingTree’s services, including an age requirement of 18 years, a US bank account, proof of income, and proof of US citizenship or residency. Since LendingTree works with a variety of lenders, applicants can find a personal loan regardless of their FICO score.
Back to top ↑Reliability and Support
Lending Tree has been around for over two decades, and they have built a substantial reputation as an industry leader in loan comparison services. They take personal privacy and security protection very seriously, and they offer an extensive amount of customer support via phone, email, or online chat.
Back to top ↑Final Word
Overall, LendingTree is most definitely one of the best brokers on the market for people who want to find personal loans. Since LendingTree has such an extensive network of lenders, they can offer extreme flexibility for all types of borrowers, whether you need $1,000 or $50,000. If you need a personal loan, make sure to check them out because you can save both time and money.
Back to top ↑* This content is not provided by the financial institution or the offer’s provider. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and does not constitute a financial or expert advice.
