LendingTree Review
8.4
Visit Site

LendingTree Reviews

8.4
Angela Mae Watson

WRITTEN BY

Angela Mae Watson

Connecting people with the most reputable lenders
Connecting people with the most reputable lenders
About LendingTree

Founded by Doug Lebda in 1997, LendingTree has since grown into an active lending marketplace. It connects consumers to hundreds of different lenders offering everything from personal loans to auto loans to home loans.

Over the past couple of decades, LendingTree has helped approve over 3 million loans for borrowers. It strives to be people’s go-to resource for comparing different loan offers and finding the best loan for their needs.

Besides serving as a near-comprehensive lending marketplace, LendingTree also has a Finance Tracker. This tool lets you review your finances, check your credit score, create a personal budget, link your bank accounts, and shop around for different loans.

8.0

LS SCORE

10

CREDIBILITY

6.0

SUPPORT

10

ACCESSIBILITY

LendingTree Personal Loans Review

LendingTree is an online marketplace that partners with multiple lenders offering personal loans. These loans can be used for nearly any purpose, from debt consolidation to funding a significant purchase.

The initial application process is straightforward and lets you compare different lenders without affecting your credit. However, every lender has its specific requirements and terms. The loan offer you receive depends on various factors, including employment status, credit score, income, and debt-to-income ratio.

LendingTree Personal Loans Highlights

LOAN AMOUNT

$1,000 - $50,000

LOAN REPAYMENT TERM

3-7 years

MIN CREDIT SCORE

550

APR FIXED RATE

3.99% - 35.99%

FUNDING TIME

1-10 days

ORIGINATION FEE

None

PREPAYMENT FEE

None

OTHER FEES

Yes

SOFT CREDIT PULL

Yes

LENDER TYPE

Marketplace

Pros & Cons

  • Reputable marketplace with a large network of lenders
  • Quick online prequalification process to view and compare offers
  • Prequalification doesn’t affect credit
  • Personal loans have competitive APR and reasonable eligibility requirements
  • Excellent customer service
  • Loans can be used for a myriad of reasons
  • Loan details are limited until after filling out an application
  • Some lenders have origination fees
  • Terms and requirements vary across lenders
  • After signing up, lenders may reach out to solicit loans

Personal Loans Types

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

Loan Purpose

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

LendingTree Personal Loans Terms & Requirements

Since LendingTree is a marketplace, things like APR and term length vary across lenders. The amounts also range widely based on the lender and the applicant’s credit and financial profile.

For the most part, LendingTree’s network of lenders require the borrower to be or have:

  • 18 years or older
  • US citizen
  • Good credit or apply with a co-signer
  • Have no recent or active bankruptcies or delinquencies on their credit report
  • Be currently employed with verifiable income

As with most lenders and marketplaces, the better your credit score and the lower your debt-to-income ratio, the better your options.

How to Apply

The process for applying for a loan through LendingTree is simple. It only takes a few minutes to prequalify. Once you do, you’ll be matched with the best lenders based on the information you’ve provided.

During the online process, you’ll be asked how much you’d like to borrow. From there, fill in the form with information such as:

  • Full name
  • Address
  • Phone number
  • Email address
  • Residence type (rent or own)
  • Date of birth
  • Credit score (or an estimated range)
  • Current employment status
  • Current income
  • Whether you’re applying with a co-signer
  • Last 4 digits of your Social Security Number
Screen 1

Loan purpose

Applying with a co-borrower isn’t required, but it can increase your approval odds, especially if your credit score or income aren’t very high. A co-borrower could get you better interest rates and terms depending on their credit profile.

The pre-qualification process doesn’t affect your credit score, but it may show up as a soft inquiry. Once you choose a loan offer and apply for it, that specific lender will run a hard credit check.

After submitting the pre-qualification form, you’ll receive a list of potential offers from LendingTree’s network. These offers will include the loan amount, estimated monthly payment, loan term (in years), and customer ratings. If you want to limit the number of offers, simply use LendingTree’s filter. This tool can be especially useful if you’re looking for a specific APR or loan term.

Qualification Requirements

LendingTree’s qualification requirements for taking out a personal loan depend on the lender. Some lenders have more lax requirements, while others are stricter.

 

Credit score & credit history 550+ credit score
Income Varies
Job status Varies
Citizenship/residency U.S. citizenship or resident
Age 18
Debt-to-income ratio 35% or lower recommended
Co-signer Not required, but recommended to improve odds of qualification
Bank account Yes, since most lenders deposit funds directly into a valid checking account.
Required documents Loan application

Proof of address

Personal identification

SSN

Proof of income

Bank account information

Required Information

To begin the initial application process for a personal loan, navigate to LendingTree’s main page. From there, click “Personal Loans” at the top. Then, select “Compare Rates.” You’ll then be asked a series of questions related to the loan amount, loan purpose, your identity, contact information, and income situation. Information you may need includes your SSN, email and phone number, and estimated credit score.

Application Steps & Time Frames

  • The prequalification process is easy to complete and takes less than 5 minutes. Once completed, you’ll be able to start comparing lenders and offers.
  • The time it takes to receive funding varies by lender. In most cases, funds are disbursed within 1 to 10 business days.

State Availability

Available in all states

LendingTree Debt Relief Review

As an online marketplace, LendingTree can match individuals with potential lenders to help them get a better handle on their debt. Among other things, LendingTree helps with debt relief and debt consolidation.

LendingTree Debt Relief Highlights

LOAN AMOUNT

$1,000 - $50,000

LOAN REPAYMENT TERM

Depends on lender

MIN CREDIT SCORE

Depends on lender

ORIGINATION FEE

None

PREPAYMENT FEE

None

OTHER FEES

Yes

SOFT CREDIT PULL

Yes

LENDER TYPE

Marketplace

Pros & Cons

  • Various debt relief options available, including debt consolidation loans and home equity loans
  • Large network of lenders operating nationwide
  • Convenient prequalification process
  • Not very transparent - specific terms and details are based on the lender
  • Hard credit pull required when applying for a loan or credit card
  • Some lenders charge origination fees
  • APR may be high, especially for borrowers with poor credit

Debt Consolidation Types

  • Debt relief consultation service
  • Debt consolidation loans

LendingTree Debt Relief Terms & Requirements

Through its partner lenders, LendingTree offers different debt relief options. This includes debt consolidation loans, home equity loans (can be used to consolidate debt), and balance transfer cards.

The marketplace itself doesn’t charge any fees. However, individual lenders may have their own requirements, terms, and potential fees to consider. For the most part, applicants will need to be at least 18 years old and a US citizen or permanent resident.

How to Apply

To get started with debt relief, fill out a short online questionnaire on LendingTree’s main site. Indicate what type of loan you’re looking for and how you intend to use the funds. You’ll also need to provide some personal information, including your full name, address, and birthdate. LendingTree uses this information to conduct a soft credit pull (doesn’t hurt your credit) and match you with prospective lenders. The entire prequalification process only takes a few minutes or so.

Step 1

Debt amount

Once you’ve chosen a lender, complete their application process. Typically, lenders will require more information regarding the loan you need, your income, identity, and credit history. After applying, expect to see a hard credit inquiry into your credit. If approved for financing, you may receive funds within 24 hours.

Qualification Requirements

  • Owe at least $1,000 in debt (depending on state and lender)
  • Be 18 years of age or older
  • Be a US citizen or permanent resident
  • Meet the lender’s credit, debt-to-income ratio, and income requirements

Required Information

The prequalification process requires certain documents and information, including proof of identity (ex. SSN, full name), credit score, and amount of debt.

Application Steps & Time Frames

  • The initial application is quick and only takes a few minutes to complete. Most lenders’ applications don’t take long to finish either.
  • The time to funding can be in as few as 24 hours, which is relatively fast in the industry.

State Availability

Available in all states

LendingTree Mortgages Review

As an online platform, LendingTree helps connect borrowers with the right lender for their home loan needs. Since this is a network, most lenders offer competitive prices to try to get your business.

The process starts with a simple application that lets you compare multiple offers from different companies. Mortgage loans include 30-year fixed, 15-year fixed, and 30-year 5/1 ARM.

LendingTree Mortgages Highlights

MORTGAGE AMOUNT

$510,400 - $2,000,000

REPAYMENT TERM

Depends on lender

MIN CREDIT SCORE

500

ORIGINATION FEE

None

PREPAYMENT FEE

None

UNDERWRITING FEE

None

OTHER FEES

Yes

SOFT CREDIT PULL

Yes

NMLS

1136

LENDER TYPE

Marketplace

Pros & Cons

  • Easy-to-navigate application process
  • Multiple offers available so you can compare rates
  • Intuitive mortgage calculator to help applicants determine what they need
  • Mortgage loans available for different homes – including single-family, multi-family, manufactured, and mobile homes
  • Loans are available for primary, secondary, and rental properties
  • Precise terms and details require filling out an application with a specific lender, resulting in a hard credit check
  • Applicants may receive multiple phone calls and emails from different lenders

Mortgage Type

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

LendingTree Mortgages Terms & Requirements

Each lender in LendingTree’s network offers its own mortgage loans and terms, which you’ll see at the end of the application process. Most conventional home loans have 15- or 30-year terms and require a 620+ credit score and 3% down payment. Other options, such as FHA or VA loans, have their own requirements.

Before applying for a loan, make sure you meet the lender’s requirements, such as income or maximum debt-to-income ratio. Also, check the current average market rates for mortgages and refinancing options to confirm you’re getting the best ones.

Qualification Requirements

Qualifying for a home loan through LendingTree largely depends on the lender. However, most borrowers will want to have the following:

  • 620+ credit score
  • 50% maximum debt-to-income ratio
  • 2 years of steady income
  • US citizenship or permanent resident
Min. Credit score 620
Min. debt-to-income ratio 50%
Min. annual income Varies
Min. age of borrower 18 years old
Citizenship/residency US citizen or permanent resident

Required Information

In order to start the prequalification process, be prepared with the following documents:

  • W-2s
  • Pay stubs
  • Bank statements
  • Tax returns
  • Proof of assets
  • Gift letter (if applicable)
  • Signed purchase agreement
  • Verification of employment and income

The process is done online, but you may receive preliminary offers via the phone.

State Availability

Available in all states

LendingTree Auto Loans Review

LendingTree has a large network of auto loan providers, including Capital One Auto Finance, iLendingDirect, RefiJet, Pen Fed Credit Union, and Southeast Financial. Each lender has its own loan terms, minimum and maximum loan amounts, interest rates, and eligibility requirements.

As a marketplace, LendingTree’s prequalification application and comparison service are both free. Once you’ve signed up, you’ll receive your first prospective matches within about 24 hours.

LendingTree Auto Loans Highlights

LOAN AMOUNT

$1,000 - $300,000

LOAN REPAYMENT TERM

1-7 years

MIN CREDIT SCORE

550

FUNDING TIME

1 days

ORIGINATION FEE

None

PREPAYMENT FEE

None

OTHER FEES

N/a

MAX VEHICLE AGE

10 years

SOFT CREDIT PULL

Yes

LENDER TYPE

Marketplace

Pros & Cons

  • Many auto loan and auto refinancing options available
  • Potentially fast funding
  • Convenient application process and easy-to-use comparison platform
  • Useful chart with estimated APR for new and used cars based on credit score
  • Competitive APR for good credit borrowers
  • Specific terms and requirements for most lenders are vague until after applying
  • For refinancing, the vehicle must be no more than 10 years old and have 120,000 miles or fewer
  • Other terms and conditions apply for refinances auto loans (ex. $5,000 to $55,000 on a current auto loan)

Auto Loans Types

  • Secured Auto Loans
  • Unsecured Auto Loans
  • New Car Loan
  • Used Car Loan
  • Auto Refinance Loans

Vehicle Types

  • Car
  • Motorcycle
  • Truck
  • EV
  • Snowmbile
  • Watercraft

LendingTree Auto Loans Terms & Requirements

While the exact terms and requirements depend on the lender, most lenders offer the best rates and terms to borrowers with good credit (660+) and a 10% down payment. Most lenders offer auto loans – new and used – with 24- to 36-month terms, but some loans range from 12 to 72 months.

You’ll need to be at least 18 years old and a U.S. citizen or permanent resident to be eligible. You’ll also need an active bank account and a steady source of income.

How to Apply

Applying for an auto loan or refinancing through LendingTree begins with a quick online prequalification process. Start by answering a few questions, such as:

  • Type of loan – purchase, refinance, or lease buy out
  • Desired loan term – 1 to 7 years
  • Potential down payment
  • Desired loan amount
  • Make of the vehicle (ex. Dodge, Ford, Honda, etc.)
  • Whether the vehicle is new or used
  • Year and model of the vehicle (ex. Mustang, Ranger, EcoSport)
  • Vehicle’s trim and other details
  • Whether you’ve already found a vehicle you’re interested in purchasing
  • Date of birth
  • Any past bankruptcies in the past 7 years
  • Estimated credit score (range)
  • Employment status (ex. full-time, student, retired)
  • Job and employer information (ex. start date, job title, etc.)
  • Pre-tax annual income
  • Any other assets
  • Full name
Screen 1

Type of loan

LendingTree uses the provided information to help you find a good offer. Even if you don’t have all the details now, you can still tweak or add them later.

Upon completing the prequalification process, create an account and provide some additional details about yourself and living arrangements. Once you’ve followed all the prompts, you’ll be shown a list of preapproved offers. Choose the best one and apply directly on the lender’s website.

Keep in mind that prequalification doesn’t affect your credit score. However, applying for a loan will require a hard inquiry.

Qualification Requirements

LendingTree’s minimum requirements for taking out an auto loan or refinancing are fairly standard. They include:

  • No minimum credit score (660+ recommended)
  • No active bankruptcies
  • SSN
  • Steady income
Credit score & credit history 660+ recommended

No active bankruptcies (prior bankruptcy OK)

Income Undisclosed
Job status Any
Citizenship/residency US citizen or permanent resident
Age 18
Debt-to-income ratio Below 36%
Co-signer Optional
Bank account Yes


Other documents: Loan application, proof of address, personal identification, SSN, proof of income, driver’s license, proof of citizenship, employer contact information, SSN, tax return, and bank statements

Required Information

The pre-qualification process for an auto loan starts on LendingTree’s main page. Click the arrow at the top that says, “More Loan Options.” Then select “Auto Loans.” From there, you can click “Compare Rates” to start the initial application. Or you can select “Learn More” to get a snapshot of participating lenders, as well as take advantage of the auto loan calculator.

When applying, be prepared with basic contact and employment information. In the case of refinancing, have your vehicle’s information on hand.

Application Steps & Time Frames

Here’s the basic process for getting an auto loan through LendingTree:

  • Fill out the prequalification form online. This takes about 5 minutes.
  • Compare lenders and choose an offer that works for you.
  • Complete the application with that lender and wait to be approved. This can be done in a few business days.
  • Time to funding depends on the lender, but usually takes several business days.

State Availability

Available in all states

LendingTree Business Loans Review

LendingTree’s network of direct lenders offers a variety of business loans to small businesses and some startups. Depending on the lender, these loans may have lower eligibility requirements than traditional banks. This, combined with LendingTree’s easy application process, makes these loans more accessible to borrowers.

LendingTree Business Loans Highlights

LOAN REPAYMENT TERM

Varies by lender

FUNDING TIME

24 hours

TIME IN BUSINESS

12 months

ANNUAL REVENUE

$100,000

ORIGINATION FEE

None

PREPAYMENT FEE

None

OTHER FEES

Varies by lender

MIN CREDIT SCORE

600

SOFT CREDIT PULL

Yes

LENDER TYPE

Marketplace

Pros & Cons

  • Eligibility requirements may be lower, depending on the lender
  • Various types of business loans, including some for startups
  • Prequalification available
  • Secure online application process
  • Not very transparent with loan terms and rates until after applying
  • Some lenders charge additional fees (ex. origination fees)
  • Applicants may receive unsolicited offers

Business Loans Type

  • SBA Loans
  • Business Line of Credit
  • Working Capital Loans
  • Invoice Financing
  • Invoice Factoring
  • Equipment Financing

LendingTree Business Loans Terms & Requirements

LendingTree’s exact requirements and terms aren’t very clear online. A big reason for this is that it’s a marketplace, not a direct lender. Each lender on the platform has its own criteria, terms, and interest rates. This isn’t too atypical of online marketplaces, but it does make it tricky to know what to expect until after applying.

With that in mind, LendingTree does offer a variety of business-related loans, including SBA loans and commercial real estate financing. It also has business lines of credit, which can be used for related expenses.

Although you need to complete an application for specific details, expect to provide information about your finances and credit score (business and personal). You may also need a business plan and some form of collateral.

Qualification Requirements

Credit score & credit history 600+ and no active bankruptcies
Minimum age of business 12 to 24 months in most cases
Minimum annual revenue Varies by lender
Minimum age of borrower 18+
Citizenship/residency Depends on lender (US citizen or permanent resident for most)

 

Required Information

Prequalifying for a business loan through LendingTree is typically done entirely online. Although lender requirements vary, be prepared with the following:

  • Business information (ex. name, type, tax ID, address, age, industry, monthly income, business plan, etc.)
  • Personal information (ex. contact information, proof of identity, credit score, Social Security Number, etc.)
  • Bank account information
  • Desired amount to borrow and loan purpose

Application Steps & Time Frames

Applying for a business loan through LendingTree doesn’t typically take long – only a few minutes for the initial prequalification process – but the time to funding depends on the lender. Some applications are also more involved than others. This is fairly standard for marketplaces in the industry.

State Availability

Available in all states

Privacy & Security

LendingTree is committed to its customers privacy and security. The marketplace uses “Next Generation Firewalls” to protect customer data and prevent hacking or data leaks. It also accepts vulnerability reports, which let individuals – ex. security researchers –bring up any potential security issues.

The marketplace also uses public key cryptography algorithms to keep information secure for its partners, consumers, and any affiliates. Although LendingTree recognizes that no online data transmission is 100% secure, it does its best to keep information safe.

As for privacy, LendingTree outlines its policy on data collecting and sharing. This includes things like people’s names, contact or financial information, and other demographic information. The marketplace collects data in one of three main ways: user input, credit bureaus, and cookies.

Customer Support

LendingTree’s North Carolina offices have the following business hours:

  • Monday through Thursday from 8:00 am to 9:00 pm (EST)
  • Friday from 8:00 am to 8:00 pm (EST)
  • Saturday from 10:00 am to 7:00 pm (EST)

You can reach a LendingTree representative via phone: 800-505-7916. Or you can fill out a form on the Contact Us page with your query or situation.

Since LendingTree is a marketplace, once you are connected with a lender you will be working entirely with them. Each lender has its own customer service department and reputation, so do your research before working with any of them.

Phone Support
800-505-7916
Mon-Thur
8am-9pm EST
Fri
8am-8pm EST
Sat
10am-7pm EST

In Conclusion

Unlike many online lending marketplaces, LendingTree has been around for decades. It’s built a solid reputation for itself as a convenient, reliable source that connects individuals to prospective lenders.

LendingTree’s transparency makes it easy to find the right loan for your situation. Since it’s a marketplace and not a direct lender, the company doesn’t have specific credit score or income requirements. Eligibility for a loan depends on the lender themselves. Even if you have a spotty credit profile or higher debt-to-income ratio, you may still qualify for a loan.

If you need a consumer loan – personal, auto, home, etc. –, LendingTree is a good place to start. Its comparison tool is easy to use and free. Plus, the application process is fast, doesn’t affect your credit score, and is done entirely online.

FAQ

s LendingTree a direct lender?
No. LendingTree is an online marketplace that connects consumers to different lenders and loan companies. LendingTree’s goal is to be a one-stop shop for various financial services.
Is LendingTree free to use?
LendingTree’s prequalification tool and online application are free to use. It doesn’t have any other fees, either. However, individual lenders may charge closing costs or origination fees.
What specific services or loans does LendingTree offer?
LendingTree offers a variety of consumer loans. This includes personal loans, home refinance and purchase, credit cards, business loans, insurance, auto loans, student loans, and other financial services.

LendingTree Disclaimer

LendingTree, LLC is a Delaware limited liability company with its corporate headquarters located at 1415 Vantage Park Drive, Suite 700, Charlotte, North Carolina 28203. Any reference in this Licenses and Disclosures to “we” or “us” or similar words shall refer to LendingTree, LLC unless otherwise indicated, all such entities referred to as “LendingTree”. Any reference in Licenses and Disclosures to “you” or “your” means the person(s) using the LendingTree Websites (as defined in the Terms of Use Agreement), and/or the good, facilities or services of LendingTree offered through alternative methods. LendingTree is a marketing lead generator, required to be licensed as a Mortgage Broker or other state license designation. LendingTree DOES NOT take mortgage applications, originate, service, make loans or credit decisions in connection with loans, nor does LendingTree issue commitments or lock-in agreements. LendingTree’s services are only administrative. Any loan inquiry you submit is NOT an application for credit. Rather, it is an inquiry to be matched with Lenders to receive condition loan offers from Lenders. You may have to complete an application with a Lender before they will extend an unconditional offer. A Lender you select may require you to pay an application or other fee to cover the costs of an appraisal, credit report or other items. The Lender, not LendingTree, will determine the amount of any such fee and should provide information to you regarding the refundability of any such fee. LendingTree, LLC does not endorse or recommend the products of any particular Lender.

Disclosure

This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.

WRITTEN BY

Angela Mae Watson

Angela Mae is a personal finance writer specializing in loans, debt management, investing, retirement planning, and financial literacy. She comes from a journalistic background and pulls from hands-on experience and deep-dive research to breathe life into her stories. Her goal is to help others achieve financial stability and independence. When not writing, she can be found traveling, honing her yoga skills, hiking, or exploring new means of healthy, sustainable living.