LendingTree Personal Loans Review

4.8 _/5

LendEDU Rating

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Personal Loan

• One of the largest online loan marketplaces in the U.S. with more than 300 lenders
• No fees for matching borrowers with lenders or any other fees
• Lenders usually respond to loan requests within minutes

• Cosigner release isn’t available until you are at least halfway through your repayment term

Rates (APR)	5.99% – 35.99% or higher for borrowers with fair or poor credit
Loan amounts	Up to $50,000
Repayment terms	12 – 84 months

Founded in 1996 in Charlotte, is an online loan marketplace with a network of hundreds of lenders offering personal loans, mortgages, home equity loans, auto loans, and more. If you’re looking for a personal loan to pay off debt or make a large purchase, LendingTree can help you find the best option.

LendingTree offers a streamlined loan request process, matching borrowers with lenders in the company’s huge network. With a wide range of interest rates and loan terms from more than 300 lenders, LendingTree can be an excellent option for shopping for a personal loan.

How does LendingTree work? 

LendingTree matches borrowers who request a loan with up to five lenders that work best for their financial needs. 

Simply submit an easy online or phone loan request to LendingTree, which checks your credit with a soft pull that doesn’t affect your credit score. When lenders respond (typically within minutes), LendingTree displays each lender’s offer in search results.

Each lender provides the offer rates and terms for easy comparison with other lenders’ offers. When you accept an offer, you work directly with the lender to complete your application. This may include a hard credit inquiry, verifying the information you provided to LendingTree, and completing application forms.

LendingTree rates, borrowing limits, and fees

Rates from LendingTree’s lender network start at 5.99%. However, depending on your credit, income, current debt, and other factors, the loan APR can be up to 35.99%.

Loan repayment periods vary by lender. LendingTree charges no fees for its loan comparison services. However, lenders may charge their own fees, which vary by lender.

Term	Details
Fixed rates (APR)	Starting at 5.99%
Loan amounts	Up to $50,000
Repayment periods	12 – 84 months, varies by lender
Unsecured or secured?	Varies by lender
Allows joint loans?	Varies
Time to funding after approval	As soon as same day, depending on lender
Fees	None
Unique features	Ongoing support includes credit monitoring and personalized budget tips

Who’s eligible for a personal loan with LendingTree?

Residents of the continental United States, Alaska, and Hawaii are eligible to submit a personal loan request to LendingTree. Lenders in the LendingTree network offer unsecured or secured personal loans with APRs ranging from 5.99% to 35.99% or higher. 

The lender considers your credit score, along with income, debt, and other factors. Generally, the higher your credit score,  the more likely you may receive a lower APR.

LendingTree also partners with lenders who offer loans to people with less-than-perfect credit. But keep in mind that if your credit score is lower than 660 the APR generally jumps to as much as 51.61% or higher. 

LendingTree’s loan process is transparent. It displays each lender’s APR and other loan details so you can easily compare loan offers. Eligibility for a personal loan varies since each lender has its own eligibility requirements.

Requirement	Details
Residence	Loans must originate in the continental United States, Alaska, and Hawaii
Employment status	Lender may request pay stubs or W2s
State of residence	Varies by lender
Minimum age	Varies by lender
Minimum credit score	Varies by lender
Minimum income	Need proof of income

How do you repay a LendingTree loan?

The lender you choose will determine the repayment period for your personal loan. The lender will also provide payment information such as where to pay online or by mail. Loan terms vary by lender and depend on your credit, income, amount of debt, and other factors. 

Each lender will provide details on the APR, repayment period, and other terms in its loan offer, including whether the loan can be paid off early and any prepayment penalties.

When considering lender offers, it’s crucial to know how the loan terms will affect monthly payments and the total amount you must repay. 

For example, here is what you would pay with the lowest interest rate possible on LendingTree for a $10,000 loan with a five-year term.

Description	Value
Loan amount	$10,000
Interest rate	5.99%
Loan term	5 years
Monthly payment	$193
Total repaid	$11,597
Total interest paid	$1,597

On the other hand, a higher APR can result in a much higher monthly payment and total cost of borrowing over the same loan period.

Description	Value
Loan amount	$10,000
Interest rate	35.99%
Loan term	5 years
Monthly payment	$361
Total repaid	$21,676
Total interest paid	$11,676

To get the full picture of the total cost of your loan and compare LendingTree offers, use LendEDU’s online loan calculator. Our calculator breaks down the principal and total interest using the loan terms and estimates your total monthly payment.

Pros and cons of LendingTree personal loans 

Pros

• Get several offers to find the best loan

  LendingTree has a network of more than 300 lenders, allowing the online marketplace to offer one-stop shopping and match borrowers with the best lenders for their financial needs.

• Soft credit pull won’t affect your credit score

  After receiving your loan request, LendingTree will check your credit with a soft inquiry only, which doesn’t affect your credit score.

• Fast, simple process

  After requesting a loan with LendingTree, lenders typically respond with offers within minutes.

• Open to all credit types

  You don’t need good or excellent credit with many lenders in LendingTree’s network to get a loan. But if you have fair or poor credit, you’ll pay a higher APR of at least 35.99% or higher.

• Ongoing support available

  Benefits from LendingTree include credit monitoring, budgeting tips, and money-saving suggestions.

• Wide variety of loan types available

  LendingTree lenders offer unsecured or secured loans with varying APRs and repayment periods.

Cons

• Max loan amount is $50,000

  The LendingTree marketplace only offers personal loans up to $50,000, which may not appeal to borrowers needing a larger personal loan.

• Lenders can do a hard credit pull.

  Whether a hard credit inquiry is conducted depends on the lender, but if it does, it can lower your credit score temporarily.

Based on our research, when comparing LendingTree with LendEDU’s top-rated marketplace, Credible, LendingTree rates 4.8/5 while Credible rates 5/5 due to more transparent loan terms. 

Still, LendingTree rates high, making the online loan marketplace an excellent choice for those seeking a personal loan.

LendingTree customer reviews 

Source	Customer rating (out of 5)	# of reviews
Trustpilot	4.3	13,784
Google	4.6	2,006
Better Business Bureau	1	122

Overall, LendingTree reviews were mostly positive, citing a fast and simple loan process. Many reviewers were impressed with LendingTree’s customer service, finding the company’s representatives friendly and helpful during the loan process.

However, many reviewers also reported being bombarded with unwanted phone calls from lenders after submitting their loan requests. (To avoid this issue, go to LendingTree’s contact us page and select “opt out of phone calls.”) 

How to apply for a personal loan with LendingTree 

Applying for a personal loan with LendingTree is easy. Below are the steps to apply.

1. Complete the request form

Fill out the online loan request form or apply by phone with the following:

• Loan purpose
• The amount you’d like to borrow
• When you need a loan
• Birth date
• Whether you own your home or rent
• Estimation of your credit score
• Annual gross income
• Zip code 
• Phone number 
• Email address

2. Undergo a soft credit pull

LendingTree conducts a soft credit pull to determine the best lenders for you and verifies your identity. It then contacts lenders and checks for offers you qualify for.

3. View your loan offers 

Within minutes, at least five loan offers will appear in search results on the LendingTree website for your review. Each lender offer displays:

• The loan amount you’re eligible to apply to borrow
• The loan offer APR
• Estimated monthly payment
• Loan term
• Additional details about the lender

4. Apply for your chosen offer

To apply for a loan offer, click “continue” to go to the lender’s online loan application. You’ll be emailed to let you know whether your application was accepted.

FAQ 

Can you have more than one LendingTree personal loan?

Yes, you can have more than one LendingTree personal loan. It also depends on the specific lender you work with through LendingTree. Each lender has its own policies regarding multiple loans. Make sure to check your lender’s terms and conditions.

Most lenders assess your creditworthiness, income stability, and debt before approving an additional loan. A high credit score and a strong financial profile increase your chances. Always review the terms and ensure you can manage repayments. 

If you consider taking out another loan, it’s important to remain aware of the impact on your overall debt. Juggling multiple personal loans can strain your budget and credit score.

Can you pay off a LendingTree personal loan early?

Yes, you can pay off a LendingTree personal loan early. Many lenders that work with LendingTree offer this option without charging a prepayment penalty. This flexibility can save you money on interest over the life of the loan.

Check your loan agreement for any early payoff terms. Some lenders may have specific guidelines or requirements for early repayment. Paying off your loan early reduces the debt burden and boosts your credit score.

Calculate the potential interest savings if you plan to pay off your loan early. Doing so will ensure you understand the financial benefits and help you make an informed decision. 

Choosing to repay your loan early can provide peace of mind and financial freedom, so explore this option if your finances allow it.

How we rated LendingTree 

We designed LendEDU’s editorial rating system to help readers find companies that offer the best personal loans. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared LendingTree to several personal loan lenders and marketplaces, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating and best-for designation, recapped below.

Product	Our rating
LendingTree personal loan	4.8/5