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LendingTree is one of the first and largest peer-to-peer online lending exchanges, first established in Charlotte, North Carolina in 1998. Its purpose is to bring borrowers and multiple lenders together so that they can agree on arrangements for business and personal loans, auto loans, student loans, and new and refinanced mortgages.

LendingTree.com also offers personal finance services and tools, such as providing information about credit cards and credit scores. LendingTree is an alternative way to borrow because the loans originate from individual investors and small companies, as well as from traditional lenders like banks.

Borrowers benefit from the competition among different lenders that can result in lower interest rates and access to loans even when banks have declined your loan application.

LendingTree is strictly a matchmaker — it arranges introductions between lenders and borrowers, and collects fees for its service, but does not itself offer loans or credit. It has handled millions of inquiries since its inception.


Consider Credible, a newer alternative to LendingTree. Credible makes it easy to compare loan options, fast and secure.

The personal loan companies in the table below compete for your business through Credible. You can compare rates from all of these partner lenders without affecting your credit score.

LenderRatesLoan Amounts 
avant

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Fixed: 9.95% - 35.99% APR$2,000 up to $35,000**Get Rates

Loan terms
• 2 - 5 years*

Loan amount
• $2,000 to $35,000**

Loan uses
• Debt consolidation, emergency expense, life event, home improvement, and other purposes

Residency
• Must be a resident in the U.S. with a valid Social Security number

Time to get funds
• As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)

Key benefits
• Fast online process, with e-signed contract
• Receive funds as soon as next business day (if approved by 4:30pm CT, Monday through Friday)
• Options for borrowers with less than perfect credit (most of Avant’s customers have credit scores in the 600 to 700 range)

Avant personal loans review

*If approved, the actual loan terms that a customer qualifies for may vary based on credit determination, state law, and other factors. Minimum loan amounts vary by state.

**Example: A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33.

best egg

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Fixed: 5.99% - 29.99% APR$2,000 up to $35,000Get Rates

Loan terms
• 3 or 5 years

Loan amount
• $2,000 to $35,000

Loan uses
• Credit card refinancing, debt consolidation, home improvement, and other purposes

Residency
• Must be a U.S. Citizen or a Permanent Resident Alien
• Can't be a resident of IA, VT, or WV

Time to get funds
• As soon as 1 - 3 business days after successful verification

Key benefits
• Choose your payment date
• You can have up to two Best Egg loans at the same time

Best Egg personal loans review

freedomplus

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Fixed: 5.99% - 29.99% APR$10,000 up to $35,000Get Rates

Loan terms
• 2 - 5 years

Loan uses
• Debt consolidation, home improvement, wedding, travel, medical expenses, and other purposes

Residency
• Must be a resident in the U.S. with a valid Social Security number

Time to get funds
• As soon as 2 business days

Key benefits
• No fees

FreedomPlus personal loans review

lendingclub

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Fixed: 6.95% - 35.89% APR$1,000 up to $40,000Get Rates

Loan terms
• 3 - 5 years

Loan amount
• $1,000 to $40,000

Loan uses
• Debt consolidation, paying off credit cards, home improvement, pool loans, vacations, and other purposes

Residency
• Must be a U.S. Citizen or Resident Alien with a valid Social Security number and physical address, currently residing in the U.S.

Time to get funds
• Usually takes about 7 days

Key benefits
• The amount you pay will never increase

LendingClub personal loans review

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lendingpoint

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Fixed: 9.99% - 35.99% APR$2,000 up to $25,000Get Rates

Loan terms
• 2 - 4 years

Loan amount
• $2,000 to $25,000

Loan uses
• Home improvement, consolidate debt, credit card refinancing, relocate, make a large purchase, and other purposes

Residency
• Must be a U.S. Citizen or Permanent Resident with a verifiable Social Security number

Time to get funds
• As soon as the next business day

Key benefits
• Available to "near prime" borrowers with credit scores as low as 585
• Streamlined approval and application process
• No prepayment penalty

LendingPoint personal loans review

lightstream

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Fixed: 4.99% - 16.79% APR $5,000 up to $100,000Get Rates

Loan terms
• 2 - 7 years

Loan uses
• Credit card refinancing, debt consolidation, home improvement, and other purposes

Residency
• Borrower must reside in the U.S.

Time to get funds
• As soon as the same business day

Key benefits
• 0.50% autopay discount (only available prior to loan funding)
• $100 rebate if you’re not completely satisfied with the LightStream experience and if you fill out a questionnaire telling LightStream how they can improve their services

LightStream personal loans review

marcus

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Fixed: 6.99% - 28.99% APR*
(For NY residents: 6.99% - 24.99% APR)
*APR discounts may be available for direct payment of outstanding credit card debt and autopay.
$3,500 up to $40,000Get Rates

Loan terms
• 3 - 6 years

Loan uses
• Credit card refinancing, debt consolidation, home improvement, and other purposes

Residency
• Must be a U.S. Citizen or Resident Alien with a valid Social Security number and physical address, currently residing in the U.S.

Time to get funds
• About 1 - 4 business days, given approval and bank account verification

Key benefits
• Tailored monthly payment options designed to fit your budget
• After making 12 or more consecutive monthly payments, you can defer one payment as long as you have made all your prior payments in full and on time1

Marcus personal loans review

1 After making 12 or more consecutive monthly payments, you can defer one payment as long as you have made all your prior payments in full and on time. Marcus will waive any interest incurred during the deferral and extend your loan by one month (you will pay interest during this extra month). Your payments resume as usual after your deferral. Advance notice is required. See loan agreement for details.

payoff

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Fixed: 5.99% - 24.99% APR$5,000 up to $35,000Get Rates

Loan terms
• 2 - 5 years

Loan uses
• Debt consolidation and credit card consolidation only

Residency
• Borrower can't reside in DC, DE, IA, LA, MA, MD, MI, MN, MS, NC, NE, NV, OH, OK, VA, VT, WA, WI, or WV

Time to get funds
• As soon as 2 - 5 business days after verification

Key benefits
• Free FICO score updates
• If you lose your job, they’ll work with you on payments
• Offers scientific personality, stress, and cash flow assessments to help you get a better understanding of your personal finances

Payoff personal loans review

prosper

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Fixed: 6.95% - 35.99% APR$2,000 up to $35,000Get Rates

Loan terms
• 3 - 5 years

Loan amount
• $2,000 to $40,000

Loan uses
• Debt consolidation, home improvement, vehicles, small business, new baby expenses, and other purposes

Residency
• Must be a U.S. resident with a bank account and Social Security number

Time to get funds
• On average, within 5 days of accepting your offer

Key benefits
• All loans through prosper are unsecured (no collateral required)
• Loan review process usually completed in 7 business days or less

Prosper personal loans review

upstart

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Fixed: 7.99% - 35.89% APR$1,000 up to $50,000Get Rates

Loan terms
• 3 - 5 years

Loan amount
• $1,000 to $50,000

Loan uses
• Debt consolidation, credit card refinancing, home improvement, and other purposes

Residency
• Borrower can't be a resident of CT, CO, IA, MA, MD, VT, or WV

Time to get funds
• Within a day of clearing necessary verifications

Key benefits
• Free credit monitoring
• Free educational resources that can help borrowers

Upgrade personal loans review

upstart

View details
Fixed: 8.89% - 35.99% APR$1,000 up to $50,000Get Rates

Loan terms
• 3 - 5 years

Loan amount
• $1,000 to $50,000

Loan uses
• Payoff credit cards, consolidate debt, take a course or bootcamp, relocate, make a large purchase, and other purposes

Residency
• Must be a U.S. Citizen or Permanent Resident with a verifiable Social Security number

Time to get funds
• As soon as 1 - 3 business days

Key benefits
• Can apply for a second loan after making six on-time monthly payments ($50,000 maximum principal on all loans)

Upstart personal loans review

Compare rates from these lenders without affecting your credit score. 100% free!

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All APRs reflect autopay and loyalty discounts where available | LightStream payment example | Read more about Rates and Terms

Application process

The loan process is fairly standard, although the information you enter varies with the type of loan you request. For example, if you apply for a personal loan — that is, a loan that is not backed by collateral such as your home or car — you’ll first be asked the purpose of the loan, anything from debt consolidation to vacations, major purchases or wedding expenses.

You then specify a loan amount, from $1,000 to $35,000, and your estimated credit rating (excellent, good, fair, or poor). Next, it will ask you about your employment and pre-tax income, your address, and type of residence, and personal identification information, including email address and the last four digits of your Social Security Number.

LendingTree only offers to provide you with your actual credit score after you finish the application. It asks a series of questions to confirm your identity first. It then shows you all the offers available for the loan amount you requested, including the lenders’ name, the amount, the APR, the number of years to repay, the monthly estimated payments and a phone number to call.

You can ask for additional detail or immediately apply for one of the offers, in which case you will have to enter additional information. All during the application process, LendingTree will send you emails telling you your status. You can easily complete the entire procedure in 15 to 30 minutes.

Be aware that your credit history will be pulled one or more times during the process. In most cases, multiple inquiries count as a single one during a 30-day period. An excessive number of credit inquiries can lower your credit score.

LendingTree also has a LoanExplorer page that displays current quotes base on several parameters you can enter without identifying yourself. We found that LoanExplorer seems to be customized to mortgage loans only.

Lending terms

Lending terms vary considerably, depending on your credit score, income, type and amount of loan and other considerations. Typically, loans have a length of three years or longer.

We saw advertised 5/1 adjustable rate mortgages starting at 2.97 percent APRs, but your APR could go as high as 29.9 percent. Some states might not permit LendingTree-arranged loans. LendingTree’s website points out that you can search for loans without first giving information (through its LoanExplorer), that there are no commitments and that the quotes are personalized.

Loan funding

We found a range of loan funding sources, from banks to mortgage lending companies to bids from unknown lenders that may be small companies, partnerships or even individuals.

When the lender is an unknown entity, you don’t know about its long-term viability. On the other hand, do you really care? You shouldn’t be affected if you secure a loan from a lender that subsequently goes bankrupt — the loan will transfer elsewhere, but your terms are not altered.

As far as the viability of LendingTree, it has withstood the test of time, but not always profitable. During the third quarter of 2015 revenue of $115 million was up 104 percent higher from a year ago, with loan originations up 92 percent. Profits were $1 million, compared to a $7.4 million loss during the same quarter a year ago and a $4.1 million loss in the second quarter of 2015.

Consumer complaints and reviews

LendingTree has had a Better Business Bureau file since 1998. As of January 2019, it was not BBB Accredited and had a rating of A-. Out of 315 BBB closed complaints in the previous three years, 180 stemmed from advertising/sales issues and 129 were attributed to service problems. Of course, these numbers represent a very small percentage of LendingTree’s transactions. Out of 199 BBB customer reviews, LendingTree has a 3-star rating. Bear in mind that disgruntled consumers are the most likely to leave reviews.

Anecdotal evidence from a number of forums points to unwanted spam and persistent phone calls from potential lenders as the biggest concerns. Note that the calls are not from LendingTree itself, but directly from its funding sources. Nevertheless, it could be held as a negative against LendingTree that it apparently does not police or restrict the marketing behavior of its lenders.

Some consumers felt that their credit reports subjected to too many inquiries from the lenders, and thought that LendingTree should instead perform one set of inquiries and then disseminate this information to potential lenders. Other reviews included satisfied consumers who said they were more or less happy with the services provided by LendingTree.

By agreeing to LendingTree’s terms of service, you agree to submit to binding arbitration to settle any disputes with LendingTree. In general, LendingTree accepts no responsibility whatsoever for the lenders and advertisements on its websites – consumers are using the site “as is.”

Is LendingTree a good choice?

In all fairness, LendingTree has been able to survive for almost 20 years with a minimum of controversy. If you are looking for one-stop shopping for loans or credit and have a decent or better credit score, LendingTree appears to be a convenient way to receive multiple bids from lenders.

It may be easier to get a personal loan or other types of credit from LendingTree than it is from a bank, but you’ll expect to pay a higher APR for this greater acceptance rate. LendingTree fees will cost you money one way or another, and you may feel harassed by lender spam.

In the end, LendingTree is a useful service that allows you to conveniently compare rates from competing lenders, thereby boosting your chances of finding the best possible deal for your situation.

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About Rates and Terms: Rates for personal loans provided by lenders on the Credible platform range between 3.99% - 35.99% APR with terms from 24 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 8%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.

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