Joe Schwartz | Mortgage Loans Editor
Our chief content editor, Joe manages a diverse team of content writers. He holds a degree in online communications and his writing has been featured in a wide range of online publications.
Founded in 1996, LendingTree provides a centralized location for consumers to receive multiple mortgage offers by filling out one simple and straightforward form. As one of the largest loan networks in the nation, LendingTree offers a variety of resources and tools for borrowers to help manage their finances and empower them to make responsible and informed financial decisions.
With their financial calculators, monthly newsletters, interactive loan coaching tools and more, LendingTree is a great mortgage service for consumers of all financial backgrounds. LendingTree makes it easier for customers to shop for mortgage loans by connecting consumers with offers from many different lenders within the marketplace. Customers can then compare lender options to get the best deal possible.
The application process on LendingTree is one of the most simple and straightforward in the industry. Before even starting the process, they offer home financing calculators to determine how much you can actually afford and how much you may need to put as a down payment.
In order to apply and view offers, you must input a variety of information such as what type of property you plan on purchasing, how the property will be used, how much of a down payment you have, and your credit score. The preferred credit score for most mortgages is over 660, but thanks to their wide range of lenders, LendingTree can accept credit scores that are even lower.
Finally, after inputting more personal information such as your social security number and contact details, LendingTree will let you know if you qualify and what offers are available to you.
Because LendingTree is not a direct lender, each lender will have their own process of determining the mortgage amount, interest rate, and fees. LendingTree allows you to view multiple loan offers in their intuitive side-by-side comparison feature.
In some cases, LendingTree's lenders can provide competitive fixed interest rates and in other cases, they may offer low variable interest rates. Fees and rates vary with each lender.
Though payment terms will vary across LendingTree's network of lenders, the most common offers are likely to be either 15 or 30 year fixed rates. LendingTree offers a wonderful comparison tool that allows you to also factor in long-term costs such as monthly rates, lifetime fees, and other factors.
LendingTree customer service is extremely efficient and user-friendly. Their customer representatives are available by phone Monday through Thursday 8 am to 9 pm EST, Friday 8 am to 8 pm EST, and Saturday 10 am to 7 pm EST. Phone lines are closed on Sundays. Customers can also contact customer support via LendingTree's email support and can expect a response within one business day.
Furthermore, LendingTree's blog offers tons of helpful articles that any potential borrowers will find helpful. This, coupled with their simplified FAQ section is a great way for customers to learn more about the lending process, to ensure there are no surprises.
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