LendingTree vs. SoFi Comparison

6.99-35.99%

8.99-15.99%

$1K-$50K

$5K-$100K

• Marketplace

• Direct

• Unsecured Personal Loans
• Fixed-Rate Personal Loans
• Variable-Rate Personal Loans

• Unsecured Personal Loans

• Credit Card Refinance
• Major Purchase
• Household Expenses
• Vacation
• Wedding
• Other

• Credit Card Refinance
• Debt Consolidation
• Home Improvement
• Major Purchase
• Medical Expenses
• Relocation
• Vacation
• Wedding

• Pre-qualification won't harm your credit score
• Great customer service
• Competitive APR rates from many lenders

• Personal loan application process is easy and only takes a few minutes to complete
• Soft credit check that doesn’t affect your credit score and gives you personalized rates
• Fixed and variable rate loans available ranging from $5,000 to $100,000
• No late or origination fees required
• Excellent customer support team
• Online autopay comes with a discount on interest
• Exclusive benefits for members (ex. networking events and access to financial advisors)
• Unemployment Protection feature comes with a temporary payment pause (up to 12 months)
• No prepayment penalties

• Some loans may have origination fees
• Terms depend on income and job status
• Marketplace and not an actual lender

• May take up to 4 days to receive funds after approval (longer than other online lenders)
• High eligibility requirements (ex. good credit and sufficient income)

4-8.9%

$500-$300K

• Marketplace

• Fast funding for auto loans and auto refinance
• Easy to use platform makes application process simple
• Competitive interest rates among variety of reputable lenders

• Car must be newer than 10 model years old and have mileage below 120,000 miles to be eligible for refinancing
• Current auto loans must have a minimum of 24 years left on the term and a balance of $5,000 to $55,000

12+ Months

$3K-$10M

Min 3.49%

• Eligibility requirements may be lower, depending on the lender
• Various types of business loans, including some for startups
• May receive funding within 24 hours
• Secure online quote process

• Applying through Lender
• Some users report receiving too many phone calls

• SBA Loans
• Business Line of Credit
• Business Term Loan
• Working Capital Loans
• Invoice Financing
• Invoice Factoring
• Equipment Financing
• Term loans
• Short-Term Business Loan
• Merchant Cash Advances
• Startup Loans

6.15-8.34%

4.29-4.67%

• Mortgage Purchase
• Mortgage Refinance
• Home Equity Loan
• Home Equity Line of Credit
• FHA
• VA

• Mortgage Purchase
• Mortgage Refinance
• Jumbo

• Lenders in the LendingTree network uniquely offer manufactured or mobile home loans and multi-family home loans
• You can apply for a mortgage through LendingTree as a primary home, secondary home, or rental property
• Getting several offers with a single application makes it easier to negotiate for the best possible rates

• Fast online prequalifications
• Interest rates fall below the national average
• Custom rate with soft credit inquiry

• Customers receive many emails and phone calls from various companies
• Each lender runs a hard credit check, which could reduce credit scores by a few points

• Doesn’t offer FHA or USDA loans
• No branch locations (everything happens online or in the app)
• Rate lock not available for all loans

$1K

• Largest network of lenders in the US
• Financial wellness services
• Connect w/ lenders after soft credit pull

• Final decision only after hard pull
• Lenders may charge origination fees
• APRs start at 10.49%

$5K-$500K

• Private student loans
• Student loan refinance

• Student loans have competitive rates and no hidden fees
• Qualified education loans are eligible for refinancing
• Membership benefits and discounts
• Flexible repayment plans and deferment available

• Higher eligibility requirements than other student loan lenders (ex. 650 minimum credit score)
• Not all student loans come with a cosigner release option (though you may be able to remove the cosigner by refinancing)

• Checking
• Savings

• You can earn up to 0.50% APY on your checking account balance
• You can earn up to 4.60% APY on your savings account balance
• No monthly maintenance fees

• SoFi does not have any physical branches
• SoFi Savings is not available in all states