Quick Look at LendingTree
- Excellent Resource for New Borrowers
- Many Rate/Fee Options
Unlike the rest of the companies on this site, LendingTree is not a mortgage lender. Instead, it focuses on collecting your financial goals and mortgage information, and then populating a list of the best mortgages from many different lenders.
This unique approach to mortgage lending allows future mortgage borrowers to browse many options at once. We recommend LendingTree for customers who are having trouble comparing options, have unique financial constraints, or are looking for the best home loan possible.
LendingTree also provides recommendations for personal loans, credit cards, insurance, debt relief, and many other financial services.
Do Customers Like LendingTree?
Alternatively, LendingTree has received a 4.5/5 star rating on google with over 660 customer reviews (as of April 2021).
As with most large lending companies, customer reviews will vary wildly. Positive customer reviews detail the stress-free research process, where LendingTree’s easy-to-use platform does the heavy lifting. Other positive LendingTree reviews include helpful customer representatives and the added ability to find lower rates and fees.
Of course, they have their fair share of negative LendingTree reviews as well. These negative reviews mostly refer to the fact that LendingTree gives your information over to its partners (the company you select), who then calls you to go over your mortgage process.
The negative reviews are likely in response to failed leads and the follow up attempts to get your business. Many reviews talk about 3rd party companies cold calling after having used LendingTree’s service.
LendingTree Mortgage Rates & Fees
For our purposes, we rate each lender by their average mortgage rate compared to the industry median. Because LendingTree is able to serve up a wide variety of lending options, customers can get great rates and low fees through the lending referral site. That’s why we’ve given LendingTree an ‘excellent’ rating for both mortgages rates and origination fees.
LendingTree Mortgage Requirements
This wide display of options essentially guarantees you’ll be able to find a lower-than-average mortgage fee, even if you have less-than-perfect credit history. For the purposes of this section, the average minimum credit score required is 620 and minimum down payment required is 3%.
However, customers are given the option to buy points during the mortgage acquisition in order to lower their mortgage rate. This means you’ll end up paying more upfront, but less in the future.
Be sure to look into the purchase of points with whatever lender you choose prior to buying your new home.
LendingTree Customer Service
From what we’ve seen in customer reviews, we believe that LendingTree provides good customer service.
We recommend LendingTree for first-time borrowers and customers who don’t mind being referred to a 3rd-party lender.