LendingTree Personal Loans Review
LendingTree is the nation’s largest online lending marketplace for a wide variety of financial products, including personal loans, small business loans, student loans, auto loans, and plenty more. They’ve been around for over 26 years and have served nearly $260 billion in loans.
Over the years, LendingTree has built up a solid reputation for themselves by connecting borrowers to a wealth of reputable regional and local lenders in their diverse network, such as Student Loan Hero, CompareCards, DepositAccounts, MagnifyMoney, and other brands.
If you visit the LendingTree website, you’ll be hard-pressed to find what kind of APR and term ranges their lenders offer. It’s easiest to submit a pre-qualification form to quickly see what kind of rates and terms you could get. Once you receive your offers, you’ll be able to see this information along with what fees there are, such as origination fees.
LendingTree Loan Types and Terms
|Loan amount||$1,000 – $50,000|
|Repayment terms||3 – 180|
|APR||3.99% – 35.99%|
|Minimum credit score||550|
|Lender type||Marketplace Lender|
|Good for:||Any credit type|
Who LendingTree is Good For
Any Credit Type
Since LendingTree is an online marketplace that connects borrowers to lenders, you can submit a pre-qualification online form no matter what your credit is. Instead of wasting time looking up the rates, terms, and qualifications from a variety of lenders, you can quickly and easily view offers with one form.
While there is no credit score minimum, the rates and terms you receive from LendingTree partners depend on a variety of factors, such as your income, job status, credit report, and so on.
LendingTree Personal Loans: Pros
- Quick and easy online pre-qualification process to view offers
- The preliminary form runs a soft credit check, which won’t harm your score
- Easy to compare rates from multiple lenders
- Competitive APR rates from their lending partners
- No credit score minimum
- Offers a variety of loan types
- Great customer service
LendingTree Personal Loans: Cons
- Some of their lenders have origination fees
- Since LendingTree is a marketplace, expect solicitations from many lenders after signing up.
How to Get Started
To get started on receiving free personal loan offers from LendingTree partners, you’ll need to fill out a quick online form. It’ll start by asking how much you’d like to borrow, which can range between a $1,000 minimum and $50,000 maximum. You’ll then be required to enter a few details about yourself, including the following:
- Name and address
- Type of residence (homeowner or renting)
- Select your estimated credit score range
- Date of birth
- Employment status and income
- Add a co-borrower
- Contact information
- Last 4 digits of your SSN
Adding a co-borrower can strengthen your profile, especially if your credit isn’t great. A co-borrower can get you more loan offers, lower interest rates, and save you money over the life of the loan.
The last 4 digits of your social security number are only used to verify your identity and run a soft credit check, so it won’t harm your score. It’s only once you select an offer that a hard credit check will be performed.
Once you submit the form, you’ll be presented with offers from LendingTree partners. This will include review ratings, the amount qualified for, APR, estimated monthly payment, and the term in years. You can also narrow down your offers with these same parameters using their filter. For example, you can add a filter that shows offers with a max APR of 10%.
Additionally, LendingTree presents offers from lowest APR to highest. If an offer says “No Upfront Fees,” this means they do not charge origination fees.
Terms & Requirements
Let’s take a look at the terms and requirements when securing a personal loan with LendingTree.
- Loan requirements vary from lender to lender within the LendingTree network. None require a credit score minimum, but some may have specific requirements, such as no delinquencies or recent bankruptcies on your credit report.
- APR rates vary depending on the lender
- A personal loan amount ranges from $1,000 to $50,000.
- Some of their lenders may charge origination fees or prepayment penalties. You can view fees when selecting a lender from your list of offers.
- The repayment terms of the loan depend on the lender and the loan amount.
Privacy & Security
LendingTree protects user information through standard industry security measures, including the use of secure web pages, data encryption when transferring sensitive information, firewall protection, and other measures to help prevent breaches.
LendingTree offers a variety of ways to get in touch, including a phone number to their customer care center (open Monday through Saturday), a live chat tool, email, and online ticketing form. You can easily find all of these support options on their Contact page.
They also have an FAQ page that allows you to learn more about topics across several different categories, such as Using LendingTree, Our Lenders, Qualifying for Offers, Loan Requests and Offers, and more that can allow you to easily navigate the loan process.
LendingTree has been around longer than most online marketplaces, and you’ll find that they’ve spent years building a reputation for connecting borrowers to multiple loan options quickly and easily.
There’s no credit score minimum requirement, making it a great platform for those coming from any kind of credit background. Their lenders will look at a variety of factors when determining if you’re qualified and then present you with an offer.
If you’re in the market for a personal loan, LendingTree makes it incredibly easy to compare rates and terms from their diverse network of lenders. Their online form takes two minutes to fill out, won’t harm your credit score, and will get you pre-qualification offers from lenders that you qualify for.
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LendingTree Disclosure: A Personal Loan can offer funds relatively quickly once you qualify you could have your funds within a few days to a week. A loan can be fixed for a term and rate or variable with fluctuating amount due and rate assessed, be sure to speak with your loan officer about the actual term and rate you may qualify for based on your credit history and ability to repay the loan. A personal loan can assist in paying off high-interest rate balances with one fixed term payment, so it is important that you try to obtain a fixed term and rate if your goal is to reduce your debt. Some lenders may require that you have an account with them already and for a prescribed period of time in order to qualify for better rates on their personal loan products. Lenders may charge an origination fee generally around 1% of the amount sought. Be sure to ask about all fees, costs and terms associated with each loan product. Loan amounts of $1,000 up to $50,000 are available through participating lenders; however, your state, credit history, credit score, personal financial situation, and lender underwriting criteria can impact the amount, fees, terms and rates offered. Ask your loan officer for details. Rates and APR assume fixed rate for the term of the loan may not be available for all consumers, ask your lender for a fixed rate quote. *Terms and conditions apply. NMLS# 1136. Loan Example: A $10,000 loan with a 5-year term at 13% Annual Percentage Rate (APR) would be repayable in 60 monthly installments of $228 each. The actual payment amount and year-end balance will vary based on the APR, loan amount, and term selected. In this case the total amount expected to pay by the borrower will be $13,680 *This examples are for illustrative purposes only. The examples and match rates are not a guarantee, agreement, or commitment to loan funds or extend credit. Interest rates and terms are subject to change at any time without notice. Loans are not available in all states at all requested amounts. All loan applications are subject to credit approval by the lender(s) with whom you are matched. LendingTree, LLC does not offer, extend, or alter credit terms it merely connects you with lenders who can perform such activities after reviewing your credit history (a hard pull of credit will be performed by lenders with whom you are matched in order to provide you with prompt responses to your loan needs) under the Fair Credit Reporting Act such permissible purpose exists in order to evaluate your request promptly and adequately. Rate, terms and fees will be based on your individual credit history and underwritten by the lender NOT LendingTree. All Equal Credit Opportunity Act requirements are adhered to and each lender will provide you with all required disclosures. Request all fees, terms, and rate information from the participating lender as LendingTree, LLC does not receive any funds from you and only receives a “lead fee” from the lender.