For LendingTree, You Need to Know That: You will likely be charged extra fees, such as an origination fee. There is no minimum credit score requirement to apply. The company offers lead generation services, but it's unclear if it has a referral partner program.
As of the time of writing, the company has a rating of 4.6 out of 5 stars based on nearly 12,000 reviews on Trustpilot. Among these reviews, over 9,700 customers give it a five-star rating and another 12,260 give it four stars. Satisfied customers wrote that the loan process was quick, easy and reliable.
No, LendingTree performs a soft inquiry on your credit report during the pre-qualification process, which doesn't impact your credit score. If you proceed with one of the offers and submit an official application, however, it will result in a hard inquiry, which will affect your credit.
LendingTree does not charge you for using its services. Each Lender you are matched with determines their own policy regarding closing costs. Unfortunately, we are unable to determine the amount of closing costs or out-of-pocket closing expenses.
It may be easier to get a personal loan or other types of credit from LendingTree than it is from a bank, but you'll expect to pay a higher APR for this greater acceptance rate.
LendingTree's loan-matching process doesn't impact your credit score or show up on your credit report. The company doesn't run hard credit checks for lenders, so you can compare options worry-free.
Representative Example
Representative 6.1% APR, based on a loan amount of £10,000, over 5 years, at a Fixed Annual Interest Rate of 5.9358%, (nominal). This would give you a monthly repayment of £193.02 and a total amount repayable of £11,581.20.
The monthly payment on a $25,000 loan ranges from $342 to $2,512, depending on the APR and how long the loan lasts. For example, if you take out a $25,000 loan for one year with an APR of 36%, your monthly payment will be $2,512.
To exercise your opt-out right, you may submit a request to us by clicking the “Your Privacy Choices” link in the footer of our website (www.lendingtree.com) and following the instructions.
While many creditors look at your FICO Score, some lenders use VantageScore instead, a credit score model created by the three credit bureaus. LendingTree provides you with the most recent version of your VantageScore 3.0.
IAC ownership
LendingTree went through an initial public offering (IPO) on February 15, 2000. In May 2003, LendingTree was acquired by IAC/InterActiveCorp, former owner of Ticketmaster, Home Shopping Network and Match.com. In 2004, LendingTree acquired HomeLoanCenter.com and formed LendingTree Loans.
Doug Lebda
Frustrated with his own home-buying experience, Doug created LendingTree in 1996 to help customers find their best deals on loans. Today, he leads the company with the same passion and entrepreneurial grit he used to start it.
There is no down payment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Fixed rates from 8.99% APR to 29.99% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount.
A $20,000 loan at 5% for 60 months (5 years) will cost you a total of $22,645.48, whereas the same loan at 3% will cost you $21,562.43.
The monthly payment on a $70,000 loan ranges from $957 to $7,032, depending on the APR and how long the loan lasts. For example, if you take out a $70,000 loan for one year with an APR of 36%, your monthly payment will be $7,032.
As far as the simple math goes, a $200,000 home loan at a 7% interest rate on a 30-year term will give you a $1,330.60 monthly payment. That $200K monthly mortgage payment includes the principal and interest.
Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.
$20,000 loans may be available to people with no credit or bad credit, these options likely will come with higher interest rates, fees, or even the need to provide collateral to get approved. If you don't have a strong credit history, lenders might consider you a risk and structure your loan terms with that in mind.
The monthly payment on a $20,000 loan ranges from $273 to $2,009, depending on the APR and how long the loan lasts. For example, if you take out a $20,000 loan for one year with an APR of 36%, your monthly payment will be $2,009.
Now, the good news is that lenders can't just access your credit report without your consent. The Fair Credit Reporting Act states that only businesses with a legitimate reason to check your credit report can do so, and generally, you have to consent in writing to having your credit report pulled.
The time it takes to get a loan from LendingTree can vary depending on the lender you choose and their specific processing times. Some lenders may offer fast approval and funding in as little as 24 hours, while others may take longer.
LendingTree obtains their FICO score and then sends the application to loan providers in their network who cater to consumers with that level of creditworthiness. LendingTree makes it easy to compare loan terms and get lenders to compete for your business.