Lendingtree personal loan reviews highlight an online lending marketplace with numerous financial products available. Working with its network of over 500 lending partners, the company scores high on our lists of the best personal loans and the best debt consolidation provider reviews. It also takes the top spot in our best small business loans, and the best home equity lenders reviews. Here’s what you need to know about using Lendingtree for your financial tool needs.
Pros
prequalification doesn’t affect your credit score
Low, $1,000 borrowing minimum
Wide range of loan terms
Other lending and services are also available
Cons
High possible interest rates of nearly 36%
Some partner companies have origination fees
Some mediocre to low consumer review scores
Lendingtree Features and Benefits
Summarizing Lendingtree’s features and benefits is challenging. Because the company offers so many financial products, it’s tough to pick out the highlights. Here’s a short-list rundown of the types of services and tools the company offers:
| Mortgages | Home Equity Loans | Personal Loans |
| Debt Consolidation | Student Loans | Student Loan Refinancing |
| HELOCs | Reverse Mortgages | SBA Loans |
| Personal Banking | Business Banking | Secured Loans |
| Home and Car Insurance | Private Business Loans | Credit Cards |
Personal loans are the products familiar to most Lendingtree customers. While Lendingtree personal loan reviews are widely available, many of them ignore the fact that the company offers so many additional services and products. That said, here are the most important considerations about the Lendingtree as a whole.
- Partners with over 500 lending companies
- Graded A+ at the Better Business Bureau
- Offers multiple financial products
- Multiple lender prequalification is available
- Choose the lender best fitted to your needs
- Offers free credit score monitoring
- Prequalification doesn’t affect credit score
- Partner companies include large and small institutions
- Peer-to-peer lending may be available
- 580 credit score necessary for most lending
- Some lenders may allow a co-signer
- Origination fees may apply depending on the chosen lender
- Informative and helpful company website
- Mobile app available
Lendingtree Personal Loan Reviews: Editorial Rating
- Lendingtree personal loan reviews score: Trusted Company Reviews criteria: 8.4
- Lendingtree home equity loan reviews score: Trusted Company Reviews criteria: 9.3
- Lendingtree business loans reviews score: Trusted Company Reviews criteria: 9.8
Lendingtree’s personal loan reviews are mixed. While that weighed heavily against our rating criteria, the company’s long list of benefits scored better. Some aspects that rated well in our evaluation include the fact that you can receive a personal loan in amounts between $1,000 and $50,000.
Other scoring data reflected Lendingtree’s wide range of rates and term lengths. Interest rates range from 5.20% to 35.99%. However, it’s essential to mention that only those with excellent credit and solid debt-to-income ratios will receive the lowest APRs available. Term lengths from 12 months to 12 years are available, depending on your loan product.
Some lenders working through Lendingtree charge an origination fee for some products. Fees range from zero to 8%, depending on the product and the customer’s creditworthiness. Borrowers with Lendingtree will need a credit score of at least 580. However, those with credit scores over 640 will have the best chances of approval.
| Interest Rates | 5.20% – 35.99% |
| Origination Fee | 0% – 8% of initial amount |
| Late Payment | Varies by Lender |
| Returned Check/ACH | Varies by Lender |
| Loan Terms | 12 to 144 months |
| Minimum Credit Score | 580 |
| Personal Loan Amount | $1,000 to $50,000 |
| Limitations | Qualification requirements vary by lending institution |
What We Like
While many online lending marketplaces provide no-hard-credit-check preapprovals, few of them rival the sheer quantity that Lendingtree offers. We also like that all of Lendingtree’s transactions, from application to funding, can take place online. Additionally, we appreciate that, in some cases, Lendingtree looks beyond just your credit score to help match you with a lender that will work for your situation. Also, depending on the financial product you apply for, well-qualified borrowers can often receive funding on the same business day.
What We Don’t Like
Some Lendingtree personal loan reviews are pretty low from both experts and consumers. While most reviews are good to excellent, the few negative ones that pop up include reports of numerous follow-ups and junk emails after applying and dissatisfaction with the loan offers proposed after the prequalification step of the process.
About Lendingtree Personal, Home Equity, and Business Loans
As a financial marketplace, Lendingtree isn’t a lender. The company uses its website to connect borrowers with appropriate lenders based on credit history, personal information, income, needs, and a soft credit inquiry that doesn’t affect your credit score.
Lendingtree simply pre-qualifies potential customers based on the information they provide. Its partner companies then offer loans or other products appropriate for the customer. What you see on the screen is a breakdown of offers from multiple lenders, from which you can compare personal loan and other product rates and fees and choose the one that makes the most sense to you. Lender offers will include your loan rates, expected monthly payments, and other specifics.
Lendingtree Personal Loan Requirements
Check Your Lendingtree Personal Loan Rates
Lendingtree personal loans are available for a wide variety of uses. While the company states that it has a minimum credit score requirement of 580, those with scores of 640 or higher will have the best approval odds. Origination fees may apply to some loan products from some lending partners. Borrowers must meet these minimums to qualify for a Lendingtree personal loan.
- Credit score of 580 or higher
- Debt-to-income ratio (DTI) of 43% or less
- Proof of regular income of $35,000 or greater
- Must be 18 years old or older
- Have a checking or savings account
- Have a US address
- Have a Social Security Number
- Have an email address
- Have no bankruptcies on your credit report in past year
- Have less than six hard inquiries on your credit report in past six months
- Be current on all existing payment accounts
Lendingtree Home Equity Loan Requirements
Check Your Lendingtree Home Equity Loan Rates
Lendingtree offers home equity loans in the form of fixed-rate, lump-sum loans, cash-out refinance options, and home equity lines of credit. The loan amounts available depend partially on the equity amount you have in your home. Closing costs, origination fees, HELOC rates, and other specifics vary by lending partner. The minimum requirements for approval, according to Lendingtree, are:
- A credit score of 620 or higher
- DTI ratio of 43% or less
- At least 15% equity in your home
Lendingtree Business Loan Requirements
Check Your Lendingtree Business Loan Rates
Lendingtree’s business loans include options for SBA loans, merchant cash advances, business lines of credit, and business banking tools. While business loan minimum requirements are highly variable by lender and product type, Lendingtree offers these suggested requirements.
- Have a personal credit score of 600 or higher
- Have a business credit score
- Have at least $50,000 in annual revenue
- Have at least a 12-month business history
How to Apply for a Loan From Lendingtree
Applying for a personal loan or other financial tools at Lendingtree starts and ends on its website.
- Choose the appropriate Apply Now menu item on your product’s main Lendingtree page.
- Fill out each question as it pops up on the screen. Remember that accuracy is crucial to avoid being turned down after preapproval if your
- given information doesn’t match your credit report files.
- Submit for preapproval. This step triggers a soft credit inquiry and doesn’t affect your credit score.
- Wait up to several minutes for your prequalified offers.
- Evaluate and choose your loan product to formally apply for it. This triggers a hard inquiry on your credit report that will affect your credit score.
- Wait for approval or submit additional information if requested.
- Follow the steps to receive your funding after formal approval based on your lender’s requirements.
Lendingtree Personal Loan Reviews
Although Lendingtree personal loan reviews are somewhat mixed, the majority of them are positive. Customers award the company 4.2 out of 5 stars on Trustpilot, while the Better Business Bureau grades it with an A+ rating.
Positive reviews generally cite things like excellent customer service, convenience, time and cost-effectiveness, and speed. Negative reviews, on the other hand, report large quantities of junk and annoying emails and phone calls after applying, and some customers state that they weren’t approved for the amounts they expected based on their credit history.
AmONE Vs. Lendingtree
AmONE and Lendingtree are both online lending marketplace platforms. Both connect consumers to lenders, and both offer a long list of financial services. Lendingtree and AmONE both offer debt consolidation and personal loans.
AmONE’s website lists multiple loan types for various personal and collateral loans, versus Lendingtree’s more simplified approach of using larger, more generic categories to describe its loan options and other services.
Both companies use a prequalification method that avoids making a hard inquiry on customers’ credit reports until a financial service is chosen. Prequalification includes a soft inquiry that doesn’t affect a credit score and is used only as a means of matching potential lenders to the borrower.
Differences between the two companies include Lendingtree offering a longer payback time of up to 144 months and a slightly lower potential interest rate. However, AmONE invites consumers with poor credit histories to apply by requiring no minimum score for prequalification.
| Feature | Lendingtree | AmONE |
| BBB Grade / Rating | 1.15 / A+ | 1.0 / B+ |
| Average Reviews Rating | 4.0 | 4.7 |
| Interest Rates | 5.20% – 35.99% | 5.99% – 35.99% |
| Origination Fee | 0% – 8% of initial amount | 0% – 8% of initial amount |
| Loan Terms | 12 to 144 months | 12 to 60 months |
| Minimum Credit Score | 580 | No minimum score |
| Loan Amount | $1,000 to $50,000 | $1,000 to $50,000 |
Frequently Asked Questions
Is Lendingtree Legit?
Is Lendingtree good for a personal loan?
Source
Logo image source: lendingtree.com
Deane Biermeier
