LendingTree Personal Loans Review 2021: The Best All You Need To Know Guide

lendingtree.com personal loans review

So if you are looking for a personal loan to fit your needs, then LendingTree.com is probably your best bet. 

Loans are an important part of anyone’s financial plan.

If you are looking to get a car, a home, or make a large purchase, often you need to get a loan to actually pay for them.

However, not one loan is the same and some loans offer better interest rates and payment terms than others.

How do you know if you are getting the best deal? This is where LendingTree.com comes in to help you make that decision.

In this LendingTree Personal Loans Review, we’re going to discuss what LendingTree.com is all about and how you can maximize its services to get the best loans with the best terms for you. 

What Is LendingTree Anyway?

Unless you’ve been living under a rock, you have most likely come across LedingTree.com on newspaper, TV, or possibly radio.

The company has had long time success and has been great in matching lenders with potential borrowers.

The company was founded in 1996 and launched nationally in 1998.

The company allows customers to shop around and look for a loan that would best fit their needs.

This makes the decision easier and is one thing to take your mind off.

The products they offer include purchase mortgages, home equity loans, refinance loans, auto loans, business loans, personal loans, credit cards, and even student loans. 

In this LendingTree Personal Loans Review, we’ll see how the site works.

How Does It Work?

lendingtree.com personal loans review

This LendingTree Personal Loans Review will show that it’s simple. 

You just need to go to the LendingTree website then select the type of loan you are looking for.

After which you will be asked a series of questions to get some of your personal details.

These questions will ask what you will use the loan for specifically, how much you are asking, your credit score, income, etc.

The automated system will then use those details to match you with prospective lenders with different offers.

You will then be able to choose from the available loan offers. You may even be able to speak with a loan officer and haggle for prices or directly apply online.

It’s completely your choice. Giving you the power to select what’s best for you while LendingTree does the footwork to give you loans comparative data for the loans available to you. 

It’s important to remember that there would be no hard credit inquiries on your credit score when you check rates offered by LendingTree partners.

The hard inquiry will only happen once you choose a loan and apply for it.

You will also be given an option to customize the terms and the loan amount.

This allows you to adjust the loan based on your need and your capability to make payments on a monthly basis.

There is also a loan calculator so that you can get an exact amount of what your monthly payments will look like.

Loans Offered through LendingTree

According to the many Lending Tree reviews out there, the site has some of the widest selection of loans that are available to choose from.

From auto loans to home mortgages, credit cards to personal loans, Lending Tree is well known as a one-stop-shop for all your loan needs.

Today in the LendingTree Personal Loans Review article, we’ll take a look at the personal loan products that LendingTree.com offers and how you can avail of them.

What Are Personal Loans?

Personal loans are generally loans of a smaller amount compared to auto and home loans and generally do not need any kind of collateral.

They are often not open-ended.

The lender of a personal loan will give you a certain amount of money once for whatever the needs are like home repair or medical bills.

These personal loans often feature equal amounts for payments of the loan and interest each month.

There is a predictable payoff date and you won’t receive a penalty should you want to pay the loan off early.

What Kind of Personal Loans Can You Get?

LendingTree allows you to get a personal loan for the following reasons:

  • Debt consolidation
  • Paying off credit card debt
  • Home Improvement and Repair
  • Major purchases
  • Vacation 
  • Wedding expenses
  • Medical expenses
  • Moving and relocation and much more

By telling LendingTree what kind of personal loan you are looking for, they can find a loan that will best fit your needs.

For example, if you choose a loan for debt consolidation, LendingTree can get you connected with a lender that specializes in debt consolidation so that you get exactly what you need. 

Often, you will get up to five available offers on LendingTree where you can do some comparison shopping before choosing which one to go for.

lendingtree.com personal loans review

Some Things To Consider

There are a few things to consider in this LendingTree Personal Loans review,  when you look into the available offers for personal loans and will help you make your decision. These include the following:

  • Ensure that the loan you get is a good fit for you. Make sure to take at the loan details and your ability to actually pay back the loan. Make sure to look at your own financial situation and make that comparison with what is available.
  • Look at the account, term, rate triangle. Please remember that the amount of the loan, interest rates, and the terms all are closely connected and changes in either of these can affect how much you will be paying monthly and the total amount you would be paying. A $10,000 loan at a 4.9% interest rate over a five-year term means you will end up paying back $11,295.27. You would need to pay $188.25 each month for that loan. Contrast that if you were to pay a longer 10-year term where your monthly payments would be smaller at $105.58 but you’d be paying a bigger amount in the long run at $12,669.29.
  • Look at the fees involved. LendingTree requires all the lenders on their site to list all the fees involved with their quoted offer. Make sure to look at all those fees and understand what their effect is on your loan. For example, some lenders will charge a one percent origination fee which would be deducted from your loan amount. So for example, if you are borrowing $10,000, you may only get $9,900 because of that origination fee. This could cause your loan amount less than what you actually need.
  • No obligations. You are not under any obligation to take out a loan from any of the offers available. You will only be obligated to pay once you make a decision to get a loan from a company and you are approved.

lendingtree.com personal loans review

Final Thoughts

LendingTree.com is one of the best solutions out there in getting personal loans.

They connect borrowers to lenders based on the information borrowers provide in the hopes of them being able to find the right loan for them.

So if you are looking for a personal loan to fit your needs, then LendingTree.com is probably your best bet. 


Author: John Benares

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