Lending Tree Reviews - What Is It?
DO NOT USE Lending Tree!!! You Must Read This Review!
Fully Researched: Price, User Feedback and More!
If you are looking for the right loan, whether personal, home, or auto, you should probably get ready for high percentage rates and fees. To make this process less stressful, take into account the reputation of your lender. Lending Tree is a popular platform where clients can sign up for offers from different lenders and get loans for their home, auto, studying or business. The company also offers credit cards, as well as refinancing options for auto and home loans. Their major concept is to bring you up to five lenders for you to choose from. Lending Tree created its official website in 1998 with the intention of providing clients with a one-stop-shop for loans. The company was bought by a media mogul in 2003, thus, it was added to a portfolio that included some other popular companies. In five years, Lending Tree broke away and joined a financial website called Tree.com. Later, in 2014, it rebranded itself as a part of Lending Tree. Today we can use their current website.
The company is trading at $85.14 per share and has served more than 30 million clients to date. In fact, the company provides its consumers with a number of lenders to choose from. However, the official website doesn't contain a specific list those lenders, but they provide borrower-generated ratings of lenders in all 50 states of the country. So, you can check lenders' credibility depending on the opinions of the Lending Tree community. You will find the FAQ section of the website very useful as it says that you don't have to pay any upfront fees. Beware if you are asked for a fee before completing an application. You may encounter illegitimate or shady lenders on their site. To find out whether the company is really worth your attention let us take a look at what its customers think about it.
Customer Reviews - Does Lending Tree Really Work?
Lending Tree has an A+ rating with the Better Business Bureau (BBB), which is a very high result. The company has been in business for almost twenty years but the number of complaints is relatively small compared to how often people use its official website. According to the BBB, the company has done a great job of solving users' issues and resolving customer complaints. These factors play an important role in their standing and good reputation. Speaking about the consumer side of things, the general opinion about the company is rather positive. Customers are satisfied with the services offered by the Lending Tree, but there is also a bit different perspective. According to the consumer credit website Credit Karma, people are not very happy with the company's auto loan services. They complain that loan inquiries have resulted in phone calls from lenders and hard credit checks. The same complaints can be found from people on Consumer Affairs' Lending Tree page. However, it has to be emphasized that the majority of user complaints are not about the company itself, but about the lenders.
It's important to address the issue of hard credit checks. According to the company, they only do soft credit checks that are not expected to influence your credit score). Before pre-approving you, the lenders give you pre-approved loans and do a hard credit check that may have an impact on your credit score for up to two years. In this way, the average consumer could take a serious hit to their credit score if their lender decides to run a hard credit check. You should be very attentive with the issue.
There is a great number of user reviews about Lending Tree online. Customers seem to be satisfied with what the company offers to them. What customers like is that they get a list of lenders and their APR/closing costs whenever they do an inquiry for loan offers. The APR and fees are reasonable, but each offer comes with a disclaimer mentioned in the lower part of the page. According to this disclaimer, the quotes aren't final. You will know it for sure when you complete an application with the lender. Before applying for a Lending Tree loan, insure that you have a FICO score of 720 and more, you live in a state where the offer is available and you can pay a 20% down payment. It would be a wise decision to take a look at what real clients of the company think about it. here are some of their reviews.
"Lending tree customer support was just perfect. They tried to satisfy me in everything - answered all my questions, resolved my issues and made me feel comfortable getting a loan through them. I was impressed with the easy and fast application process was simple and. They helped me to overcome any difficulty. The rates and terms were nice. There were a number of options for me to choose from. The online tools helped me a lot too."
"I enjoy the way Lendingtree personnel helped me to get the loan. They provided me with all the necessary information and made the process simple and comfortable for me. I believe that the Lord will help me to pay it off in the future. I am especially grateful to my assistant who helped me with the mortgage process. I am looking forward to the positive results. Thank you for the low interest rates. By the way, they did not take into account my credit score. I am going to buy a new house!"
"I am a widow and I have an account with this company. Recently I also took as loan from them. Thank you Sheri for your care and help in the process. You have accompanied me on each step and just talked to me often. I needed this desperately because I am a lonely woman. The website is easy to follow. I wish I had taken the loan earlier. I just didn't know who to address. I highly recommend Lending tree."
My Final Summary
In principle, Lending Tree is a wonderful company with a great official website that is easy to use even to elderly people. You can get a loan directly from lenders through this site. The personnelof the company will take the initial effort out of your loan and accompany you through every step of the process. The ease with which you can apply for a loan is not the only advantage of the company. Many customers have reported that the application process could be completed within several minutes. So, you don't have to spend a lot of time.
The next advantage is the reasonable character or interest rates. Consumers find this topic a serious issue before deciding to take a loan. As soon as you apply for a loan, your lender will contact you and discuss all the questions you are interested in. There are many positive customer reviews about the company. Most of them have not run into any problems using their services. They are pleased with how the staff worked to meet their needs. So if you are looking for a reputable lender and willing to go through the process securely, Lending Tree is a great choice. This is a highly-rated, reputable company. Taking into account all pros and cons, I do recommend Lending Tree.
Lending Tree Pricing and Rates
Interest Rate and AOPR may vary depending on the amount of the loan you are taking and its term. For example, a 30-Year Fixed loan type presupposes Interest Rate of 3.250% and APR of 3.433%. A 15-Year Fixed loan will have Interest Rate of 2.875% and APR of 3.205%.