LendingTree is an online mortgage marketplace that allows borrowers to compare a number of offerings from different lenders.
LendingTree was designed to help borrowers access the best rates and terms available without needing to visit different lenders. Lenders “compete” to offer their premium rates once borrowers fill out a short survey of information.
A major perk of LendingTree is its ease of use. Rather than filling out a long form, an interactive survey asks you questions about your situation to gather all applicable information. From there, the ability to look at a selection of lenders means you also get to choose the right terms for you. LendingTree gives you access to your credit score, updated monthly, so you can improve your qualifying criteria and better understand your financial situation. Finally, a considerable benefit of LendingTree is that the service is entirely free.
Types of Loan Offerings: LendingTree offers access to conventional loans, FHA loans, and VA loans. You’ll also receive offers broken down by loan type: 30 Year Fixed, 15 Year Fixed, and 5/1 ARM.
Down Payment Requirements: LendingTree allows you to enter in your preferred down payment when signing up for the service which will help match you with the right loan programs available. You won’t be able to get exact information about down payments until you contact a specific lender.
- Fill out one simple online form
- Ability to call along the way if you have any questions
- Connect with multiple lenders who provide several, customized loan offers
- Evaluate loan options with no impact to your credit score
- Work with a real, live person to finalize details