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LendingTree Personal Loan Marketplace
Insider’s Rating
3.75/5
Regular APR
5.99% to 35.99%
Loan Amount Range
$1,000 to $50,000
Pros
- Prequalify for loans all in one place
- Low minimum rates
- Some partner lenders have same-day funding
Cons
- Some partner lenders charge high fees
- High maximum rates
Product Details
- 12 to 144 month repayment term lengths
- LendingTree may share your information with its network of lenders
Who is LendingTree Best For?
LendingTree is a great personal loan option for borrowers who want to shop around for multiple rates at the same time. You may also be able to get a loan with a lower credit score, and use the money to consolidate debt or improve your home.
LendingTree Personal Loan Details
LendingTree loan amounts range from $1,000 to $50,000. LendingTree's partner lenders offer loans all across the country.
Depending on your credit score and annual income, your APR will range from 5.99% to 35.99%. Ifyou need to get a loan with a bad credit score, it's a good option to have.
The minimum loan term is 12 months, and the maximum is 144 months. You can pay off loans from LendingTree's partner lenders in full at any time with no early payment penalty.
After you've verified your information, the partner lender will get you your money with varying speeds, sometimes by the next business day.
If LendingTree shows you loan offers with high interest rates, you may want to look into credit cards for people with bad credit and compare rates between a card and a loan. You might be eligible for a lower APR and better terms with a credit card. Weighing the benefits and drawbacks of personal loans vs. credit cards will help you get the best financial deal possible.
LendingTree Personal Loan Pros and Cons
| Pros | Cons |
Prequalify for loans all in one place. You'll be able to look at different rates from LendingTree's partner lenders at the same time, which is easier than filling out multiple applications. | Multiple types of fees. Depending on the partner lender, you may have to pay origination fees and late fees. |
No prepayment penalty. You can make additional payments toward your loan, and you won't be charged an extra fee. | High maximum rates. Some of LendingTree's partners have rates that touch 35.99%, which is particularly high. |
Low minimum rates.If you have excellent credit, you may be able to get a rate as low as 5.99% with a partner lender. | |
| Fast funding with some partners.Some of LendingTree's partner lenders offer funding as quickly as the same day, |
How to Apply for a LendingTree Personal Loan
1. Provide details on LendingTree's website. You'll need to input your email and basic personal information. Then you'll be asked how much you want to borrow and how you plan to use the money. To get you a rate quote, LendingTree will run a soft credit check, which doesn't affect your credit score.
2. Preview different loan offers and choose an option. LendingTree will give you loan offers from partner lenders with a variety of rates and term lengths. Pick one you can fit into your monthly budget.
3. Receive your funds after signing your agreement. The time it will take to get your money will vary depending on the partner lender you choose.
4. Work loan payments into your monthly budget. Make sure you have enough money to cover all of your financial responsibilities.
LendingTree Personal Loan Marketplace
Insider’s Rating
3.75/5
Regular APR
5.99% to 35.99%
Loan Amount Range
$1,000 to $50,000
Pros
- Prequalify for loans all in one place
- Low minimum rates
- Some partner lenders have same-day funding
Cons
- Some partner lenders charge high fees
- High maximum rates
Product Details
- 12 to 144 month repayment term lengths
- LendingTree may share your information with its network of lenders
LendingTree Frequently Asked Questions
Is LendingTree legit?
Yes, LendingTree is a legitimate loan company that offers personal loans to a variety of borrowers.
Does LendingTree offer different loans?
Yes, LendingTree offers personal loans, student loans, business loans, and debt consolidation loans.
Does LendingTree affect my credit score?
Yes, when you take out a loan with one of LendingTree's partner lenders, your credit score will change depending on your payment history.
How can I contact LendingTree customer service?
You can contact LendingTree customer service by reaching out to 1 (800) 555-8733.
LendingTree Trustworthiness
LendingTree is a Better Business Bureau-accredited company, and the BBB, a non-profit organization focused on consumer protection and trust, gives LendingTree an A+ rating. The BBB assesses companies by evaluating a business' responses to consumer complaints, truthfulness in advertising, and transparency about business practices.
However, good BBB scores don't guarantee you will have a good relationship with companies. They're merely a guideline to help you get started on your hunt for a personal loan provider.
LendingTree does not have any recent controversies
Compare LendingTree Personal Loans
LendingTree Personal Loans vs. Credible Student Loans
LendingTree has 15 partner lenders and Credible has 15 aswell. Both marketplaces allow you to see many rates at the same time with one easy application.
Credible's rates range from 4.98% - 16.70% variable and 4.07% - 15.71% fixed (with AutoPay discount), while LendingTree's rates are from 5.99% to 35.99%. Credible's loan amounts are from $600 to $200,000, while LendingTree's are from $1,000 to $50,000.
LendingTree Personal Loans vs. FinMkt Personal Loans
Both companies are personal loan marketplaces, but FinMkt is more opaque about its terms. Both lenders have partners that can deposit money into your account in as little as a day.
Both marketplaces allow you to use your loan funds for just about anything, including debt consolidation, vacations, and home improvement.
LendingTree Personal Loan Marketplace
Insider’s Rating
3.75/5
Regular APR
5.99% to 35.99%
Loan Amount Range
$1,000 to $50,000
Pros
- Prequalify for loans all in one place
- Low minimum rates
- Some partner lenders have same-day funding
Cons
- Some partner lenders charge high fees
- High maximum rates
Product Details
- 12 to 144 month repayment term lengths
- LendingTree may share your information with its network of lenders
Why You Should Trust Us: How We Rated LendingTree Personal Loans
We rate all personal loan products in our reviews and guides on a 1-5 scale. The overall rating is a weighted average that takes into account seven different categories, some of which are judged more heavily than others. They are:
- Interest rate (20% of rating)
- Fees (20% of rating)
- Term lengths and loan amounts (15% of rating)
- Funding speed (15% of rating)
- Borrower accessibility (15% of rating)
- Customer support (7.5% of rating)
- Ethics (7.5% of rating)
Each category's weighting is based on its importance to your borrowing experience. Rates and fees have the most direct impact on the overall cost of your loan, so we weigh those the most heavily. Customer support and ethics are still very important parts of the borrowing experience, but do not directly tie to a personal loan's terms, so they have less of an impact on the overall rating.
See our fullratings methodology for personal loansfor more details.
Loans Reporter
Ryan Wangman was a reporter at Personal Finance Insider reporting on personal loans, student loans, student loan refinancing, debt consolidation, auto loans, RV loans, and boat loans. He is also a Certified Educator in Personal Finance (CEPF). In his past experience writing about personal finance, he has written about credit scores, financial literacy, and homeownership. He graduated from Northwestern University and has previously written for The Boston Globe. Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services here >>
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