If you’re not familiar with Lendingtree.com, it’s a website where you fill out an application for a loan and then receive offers from several different lenders – assuming you qualify. In other words, Lendingtree.com doesn’t offer loans itself. It gathers your personal and financial information and submits it to its member banks and credit card providers.
Easy to navigate with helpful tools
The pros of Lendingtree.com are that the site is fairly easy to navigate and offers some helpful tools, including a table of current mortgage rates for 30 year fixed, 15 year fixed and 5/1 adjustable rate mortgages.
Mortgage loans and refis
Lendingtree.com has information on both refinance loans and mortgage loans. There are calculators for both types. If you already have a loan offer, there’s a tool that will get you a second opinion called “ FREE Look Before You Lock.” There is also a home affordability calculator and a Get My Score tool that you can use to get a free credit score but do note that you will have to sign up with freecreditscore.com to get the free score.
Personal loans, too
You can get personal loans on Lending Tree, including home equity loans, mortgages, auto loans, student loans, debt consolidation loans and personal loans for no specific reason. Lendingtree.com can help you find low-interest credit cards. Plus, if you own a small business, lending tree.com can help you find an installment loan, a mortgage, a business credit card and receivables financing.
One of the best things about Lending Tree is that it doesn’t cost anything to use its basic services. You can create an account at no cost if you wish. But you can access most of its links without doing so. If you use some of its advanced services or if you accept an offer for a loan, then there will be a charge.
LendingTree’s Associate Companies
Lending Tree is associated with most of the big names in the business, such as Bank One®, Citibank®, MBNA America®, Bank of America® and other of the big financial institutions. In addition it is affiliated with 650 plus real estate companies and more than 6500 realtors.
Unfortunately for Lendingtree.com many of its reviews are very negative. One reviewer wrote, “don’t use lending tree loans.” Others wrote, “lendingtree is dead at the roots,” “nothing but spam e-mails followed quotes,” avoid like the plague.”
Some good experiences reported
On a more positive note, some Lending Tree customers have reported good experiences with the company. For example, one customer said the site was very easy to get through while another reported it had good lenders from which to choose and a fast response time. And one reviewer said, “Lendingtree.com saved us a bundle!”
Overall, people who reviewed Lendingtree.com scored it an average of just two stars out of four. However, it’s important to remember that people who have had a bad experience with a company are much more likely to go online and leave a review than those who had a pleasant experience.