As one of the largest loan networks in the US, LendingTree offers a wide variety of loan services for borrowers, simplifying the lending process. They offer mortgage loans, personal loans, business loans, and more.
When it comes to mortgages, LendingTree offers an easy-to-use service for consumers of all financial backgrounds. Mortgage applicants can shop for and compare mortgage loans by submitting one simple online form. LendingTree then connects applicants with their network of lenders within their robust marketplace. Customers can then compare mortgage options and decide which loan best suits their financial goals.
Applying for a mortgage through LendingTree is a simple and straightforward process. Before you even get started, LendingTree provides helpful mortgage calculators to determine how much you can actually afford on a monthly basis and how much you'll need as a down payment.
To apply for a mortgage, you'll need to provide basic information on the type of home you plan on purchasing, how much you can put as a down payment, as well as your credit score. Although LendingTree doesn't require a minimum credit score to apply, most lenders within the network prefer borrowers with a credit score of about 660. If your credit score is lower, it does not mean that you won't be eligible for a loan, but you may have fewer options.
As LendingTree does not lend money directly, each lender within their network will have their own fees and rates. This is one of the biggest strengths of LendingTree as it allows you to view multiple loan offers using their intuitive side-by-side comparison feature.
As mentioned, payment terms can vary based on the lender, although most mortgage offers are likely to be either 15 or 30-year fixed rate mortgages. With LendingTree's helpful mortgage calculators, you can easily compare the long term effects of a 15-year mortgage vs a 30-year mortgage and choose which best suits your long term financial goals.
LendingTree's customer support is extremely efficient and provides multiple ways to get in touch. Their phone support is one of the best in the industry and is open Monday through Thursday 8 am to 9 pm EST, Friday 8 am to 8 pm EST, and Saturday 10 am to 7 pm EST. If you require assistance after these hours, LendingTree also offers email support where they typically respond to inquiries within just one business day.
In addition to their support, LendingTree hosts a blog and FAQ section with tons of articles and information that potential borrowers will find helpful.