ABOUT LENDINGTREE
LendingTree (NMLS #1136) is not a direct lender but instead an online marketplace that matches you with one of its partners based on a questionnaire. You do not have to pay a fee to use LendingTree. Note that LendingTree has been hit with at least one lawsuit regarding a data breach, and as of this writing, the lawsuit is still pending.
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Rocket Mortgage
Purchase options:Conventional, FHA, VA, jumbo
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Purchase options: Commercial, residential, military, seniors
Refinancing options:Cash-out, rate and term
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Purchase options: Commercial, residential, military
Refinancing options:Cash-out, rate and term
Min. credit score:280 to 320
Max. loan amount:$1.0 million
Purchase options: Refinancing options available to lower payments
Refinancing options:change terms or take cash out
Min. credit score:580 to 620
Max. loan amount:$2.0 million
What is LendingTree?
LendingTree is an online marketplace that connects you with its extensive lender network so you can find the right loan for your situation. Its partners offer home loans, personal loans, auto loans, business loans, debt relief, debt consolidation, credit cards, insurance plans, credit repair services and other financial products.
You can compare loans directly on LendingTree’s site or contact loan officers to negotiate rates. Some of its lenders can fund loans in as little as 48 hours. You can sign up for a free LendingTree account to check your credit score and get started.
The company also suggests ways to improve your credit and can help you find loans that beat your current rates if you’re already paying off a loan.
How does LendingTree work?
LendingTree can match you with several loan offers within just a few minutes. Its partners offer a variety of financial products, including:
- Mortgages
- Personal loans
- Business loans
- Student loans
- Auto loans
- Debt consolidation
- Debt relief
- Credit cards
- Credit repair
After answering a brief series of questions, you receive a list of lenders suited to your situation. Typically, you can apply with the lender immediately — but you can also simply compare rates if you’re not ready to move forward with a specific offer.
Make sure you have financial information ready when applying, including your income and a list of debts and assets. Each lender has its own borrower qualifications, so having a handle on your profile can help you easily compare the most realistic annual percentage rates (APRs) and loan terms.
LendingTree also offers helpful tools like calculators, informational resources and credit-checking services. If you’re planning to buy a home, for instance, the site’s multiple loan calculators show your mortgage options, advice on whether you should rent or buy and other relevant information for potential homebuyers.
LendingTree rates
LendingTree’s matching services are free, but APRs from its partners vary by lender, your financial profile, the product and your location. Be sure to compare offers to find the most favorable rates, terms and fees.
Interest rates can also change daily, so comparing offers is the best way to get an idea of the range you can expect to receive.
Typically the lender sets your rate based on your credit score (you can expect to get decent rates if your credit score is in the upper 600s or higher — if your score is around 620 or below, you may have difficulty qualifying at all, especially for a good rate).
