LendingTree Review

Compare LendingTree to other peer-to-peer lenders The Loan Exchange and LendingClub. Learn more about LendingTree's reputation, benefits, and drawbacks.

Updated on July 10th, 2020

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LendingTree is a peer-to-peer lending platform. LendingTree has an extensive network of lenders through which borrowers have access to a variety of loan products, including personal, auto, and business loans.

Pros and Cons:

Pros

  • Easy online application process.
  • Fast funding process.

Cons

  • Possible unsolicited communication from LendingTree's network partners.

Review:

LendingTree is an online marketplace that matches borrowers' loan inquiries with lenders in its partner network. Following an online inquiry via LendingTree, individual lenders may proactively contact potential borrowers, which some users deem bothersome. LendingTree is a great option is you are looking for an easy and convenient way to shop for and compare loan offers.

Highlights:

  • Free and easy online application.
  • Customers report the funding process to be fast and efficient.

Shortcomings:

According to LendingTree's privacy policy, LendingTree shares the user information they collect with their affiliates, network partners, and LendingTree service providers.

Reputation:

LendingTree is BBB accredited and was given an A+ rating by the bureau. Positive reviews describe the application and funding process as fast and easy while negative reviews mainly report having received a great deal of unsolicited communication from a variety of lenders after submitting an online inquiry.

Rates and Fees:

LendingTree has a large network of lenders that each apply their own eligibility requirements, terms, rates, and fee structures.

LendingTree vs. The Loan Exchange
LendingTree vs. The Loan Exchange:

LendingTree is essentially an online marketplace that matches borrowers' loan inquiries with lenders within its network. In addition to loan products, users can also use LendingTree to shop for credit cards, insurance, banking products, and debt relief solutions. The Loan Exchange, by comparison, offers only loan products through its lender network.

LendingTree vs. The Loan Exchange Comparison:

Features

LendingTree

The Loan Exchange

Types of loans offered

Mortgage, home equity, personal, student, auto, business

Personal, business, mortgage

Comparison of multiple loan offers

Yes

Yes

Free online tools and resources

Free credit check, mortgage calculator

No

Mobile app

Yes

Yes

Customer support

Phone

Phone and email

LendingTree vs. LendingClub
LendingTree vs. LendingClub:

LendingTree provides an online marketplace where users can shop for a variety of financial products, including bank accounts, credit cards, loans, and insurance products and compare offers from different lenders while LendingClub is a true peer-to-peer lending platform that provides loans through individual and institutional investors.

LendingTree vs. LendingClub Comparison:

Features

LendingTree

LendingClub

Types of loans offered

Mortgage, home equity, personal, student, auto, business

Personal, business

Comparison of multiple loan offers

Yes

Yes

Free online tools and resources

Free credit check, mortgage calculator

Articles and guides

Mobile app

Yes

Yes

Customer support

Phone

Phone and email

Other LendingTree Products:

Banking products.

LendingTree makes it easy for users to compare certificates of deposit, saving accounts, checking accounts, money market accounts, and IRA accounts from a variety of providers. To apply for any of the banking products, users are redirected to the individual providers' webpages.

Debt relief.

LendingTree's network of partners and affiliates include several service providers that offer debt relief programs.

Insurance.

LendingTree assists users in finding insurance solutions via its network of partners that match users' specific insurance needs with suitable insurance options.

Credit cards.

LendingTree allows users to easily compare credit cards offered by different financial institutions. To apply for any of the credit cards, users are redirected to the respective provider's website.

Free credit score check.

LendingTree lets users easily check their credit score with their online tool, free of charge.

Mortgage calculator.

LendingTree has a free online mortgage payment calculator tool that can help users estimate their monthly mortgage payments.

LendingTree at a Glance:

Loan types available

Mortgage, home equity, personal, student, auto, business

Free online tools

Free credit check, mortgage calculator

Mobile App

Yes

Customer Support

Phone

Key Information:

Legal Name

LendingTree, LLC

Founder

Doug Lebda

Founding Date

Jan 01, 1996

Address

11115 Rushmore Drive, Charlotte, NC 28277

Number of Employees

1185

Number of Customers

100000000

Telephone

1 (800) 813-4620

Website

https://www.lendingtree.com/

FAQs:

What credit score do you need to get a loan from LendingTree?

LendingTree does not provide information regarding minimum credit score requirements. Every lender in LendingTree's partner network has its own eligibility requirements.

Which is better, LendingClub or LendingTree?

LendingTree is an online marketplace that prequalifies and matches borrowers' inquiries with lenders within its network while LendingClub facilitates peer-to-peer lending through a network of investors. With LendingTree, the eligibility requirements and funding process differ by lender. LendingClub ensures a consistent service experience and offers a fast funding process.

How long does it take to get a loan from LendingTree?

Some LendingTree users report a fast funding process of a few days. Loan processing times may vary depending on individual lenders.

What are LendingTree alternatives?