LendingTree
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LendingTree

LendingTree: When Banks Compete You Win

LendingTree is an online loan brokering service. It is headquartered in Charlotte, North Carolina. The company was founded in 1996 and connects customers to an array of potential lenders in hopes of helping the client secure the best deal. The service has facilitated millions of loans and is known for its innovative “When banks compete, you win” campaign.

We have provided you with the Good, Bad, and Bottom Line about LendingTree. This information has been created to help you discover whether the service is right for your borrowing needs.

LendingTree: The Good

  • Unbiased information
  • Access to an array of lenders
  • Quick funding
  • Trustworthy name
  • Various support tools

LendingTree is reputable service that boasts over 20 years of experience in the field. It is an industry leader in many ways and saves clients the time and hassle of searching around for deals. With improvements regularly being made, it’s a service that offers reason for supreme confidence.

Areas where LendingTree excels

Unbiased Information

Given that LendingTree is a broker rather than a lender, they are solely focused on finding you the best product rather than selling their own.

Access to an array of lenders

With over 20 years of experience, LendingTree boasts a vast network of lenders. This allows you to compare multiple offers for almost every loan type imaginable.

Quick Funding

While not directly responsible for the loan, the broker can help you acquire the loan amount in the fastest time. In most cases, this is within 48 hours.

Trustworthy Name

LendingTree is one of the longest-standing names within this online sector. This provides users with optimum levels of confidence.

Various Support Tools

The company also offers multiple tools to assist you. From free credit checks to mortgage calculators, those resources allow you to make an informed decision.

Summary of the Good   

As an impartial broker, LendingTree can connect consumers to a host of loan products from a varied network of lenders. With clear info and support throughout the application process, it’s a very useful resource for anyone looking to borrow money.

LendingTree: The Bad   

  • Having to deal with third parties
  • Fluctuating rates
  • Adverts for additional products
  • Mistakes can occur
  • Information can be overwhelming at times

While LendingTree is certainly a useful service, there are some minor areas where improvements could be made. Most of them are unlikely to become deal breakers, but they can cause a little frustration. They must be taken into account.

Areas where Lending Tree could improve

Having To Deal With Third Parties

Given that the service is a broker rather than a lending, you are also entering a deal with the direct lender. While the network is full of a trustworthy companies, this is something to consider.

Fluctuating Rates   

LendingTree doesn’t have control over how lenders analyze applications. As such, you may not get the same deal that everyone gets. Likewise, there’s a possibility that you’ll be rejected.

Advertisements For Additional Products

As a broker, LendingTree thrives on selling products. While this does mean they go the extra mile to source the best deals, they will promote other items such as credit cards and insurance.

Mistakes Can Occur

For example, it may be possible that a deal is offered when you aren’t eligible due to location or other factors. This is a rare problem with the third parties rather than LendingTree, but does happen.

Information Can Be Overwhelming At Times

If you are simply looking for a simple loan, the high volume of info coming in from various potential lenders can feel a little too much. Even if it is presented well.

Summary of the Bad   

The brokering service itself is very reputable. Still, entering an agreement with another party does raise some questions. While the array of choice does provide the best shot at getting a great deal, it can make the process feel a little more complex than is actually the case.

LendingTree: The Bottom Line   

Whether you’re looking for a personal loan, business, or other financial service doesn’t matter. LendingTree is one of the quickest and easiest ways to broker a deal by comparing the deals offered by various lenders.

1115 Rushmore Drive
NC
28277

Ratings

LendingTree is an online loan brokering service. It is headquartered in Charlotte, North Carolina. The company was founded in 1996 and connects customers to an array of potential lenders in hopes of helping the client secure the best deal. The service has facilitated millions of loans and is known for its innovative When banks compete, you win campaign.

Top 6 Debt | July 7, 2018

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