LendingTree is an online mortgage marketplace that allows borrowers to compare a number of offerings from different lenders. It 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.
They will aggregate your most competitive loan offers, so it will be really easy for you to evaluate and compare your mortgage rates and options. They also offer you access to real consumers reviews that have used their mortgage lenders for your to take a more informed decision.
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.
As a bonus, if you are mortgage shopping, you can set up alerts in your account to tell you if a better mortgage loan has become available, so you can make the most of your money when it comes to purchase a home.
LendingTree Mortgage Offering
- Conventional loans
- FHA loans
- 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.