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LendingTree Mortgage Refinance Review


ConsumersAdvocate.org Rating: 4.9 / 5 (Excellent)
14 Customer Comments & Reviews - see all comments
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Founded in 1996, LendingTree is a leading online marketplace with a comprehensive network of lenders that allows consumers to shop for loans, compare prices, and track their savings.

A simple online application determines the customer’s credit profile and lets them contact different lenders to choose the best loan offer for their needs.

Customers are able to compare competing offers from up to 5 mortgage refinance lenders in just minutes.
 
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How is LendingTree rated?

Breakdown

5.0/5
Loan Variety
4.9/5
Ease of Process
4.9/5
Customer Service and Reputation
4.5/5
Discounts and fees

Overall Rating: 4.9 / 5 (Excellent)

LendingTree doesn't generate loans per se, but rather matches borrowers with up to five qualified lenders likely to approve their loan.

Therefore, the company can offer a wide variety of loans and terms, allowing borrowers to evaluate competing offers from the convenience of one website and one, simple application.

Instead of having to conduct research the old-fashioned way, contacting multiple lenders individually, LendingTree streamlines the process and provides easy to compare quotes.

LendingTree offers the additional advantage of helping consumers obtain the lowest available rate, sometimes as much as 0.5 percent less than those of big banks.

Loan Options

Lender Type
Marketplace
Loans Offered
Rate & Term
Cash-out
Loan Programs
FHA
VA
Conventional
HARP
Jumbo
Fixed Year Terms
30 Year Fixed
20 Year Fixed
15 Year Fixed
10 Year Fixed
Adjustable Rate Mortgage Terms
10/1 ARM
7/1 ARM
5/1 ARM

Loan Variety - 5 / 5

As a lending marketplace, LendingTree offers a wide variety of ways to refinance your mortgage, via their nationwide network of lenders.

Aside from government-backed VA, HARP, and FHA loans; LendingTree can also connect borrowers with conventional fixed or adjustable rate loans.

Its lenders are thoroughly vetted and completely reliable, with proven track records that put them at the forefront of the loan origination industry.

Application Process

FHA Minimum Credit Score
580
Maximum LTV
This depends on the individual lender.
Closing Time
This depends on the individual lender.
Waived Fees
This depends on the individual lender.

Ease of Process - 4.9 / 5

Since LendingTree doesn't generate loans in and of itself, specifics regarding the application process depend on the individual lender.

Given the breadth of its provider network and its long experience in the sector, the company, therefore, provides the greatest degree of flexibility for customers of all levels of qualification wishing to explore their options.

Lending Tree’s application process is very simple.

First, you’ll need to input which type of property you’re looking to refinance, and whether it’s intended as a rental, secondary, or primary home.

Users are then asked about their main refinancing goal, and must also indicate their zip code.

Then they must estimate the value of the property (this does not have to be completely accurate), and the balance remaining on the 1st mortgage.

Users must then indicate whether they have any additional mortgages, and whether they would like access to additional cash (in the form of a cash-out refinance).

Standard personal questions follow: annual income, credit score, birthdate, military service, previous bankruptcy or foreclosure, current address, name, and email address.

And just like that, you’ve given the main information needed for obtaining up to five mortgage refinance offers.

LendingTree Reputation

Online Reviews

Trustpilot Trustscore
9.1
BBB Rating
B
Date Collected
2019-02-12

Customer Service and Reputation - 4.9 / 5

LendingTree is a marketplace for loans, so each individual lender in its partner network will have a different reputation.

Helpful resources for looking at a company’s customer reputation are the Better Business Bureau, the Consumer Finance Protection Bureau Complaint Database, and Trustpilot.

It’s also critical to research your chosen lender’s financial stability.

There are various indicators for this, including the amount of capital it has access to, the quality of its assets, and its earnings.

While this may seem like overkill, a bank or any other financial institution’s financial stability directly speaks to its ability to meet its commitments, especially during periods of financial turmoil or outside pressures.

LendingTree has the foresight to only work with accredited originators with proven track records in the industry.

As an online resource, LendingTree itself is generally well regarded by customers and carries an above average Trustpilot score of 9.1.

Contact & Additional Information

Homepage URL
http://www.lendingtree.com
Company Phone
(800) 310-1860
Headquarters Address
11115 Rushmore Dr., Charlotte, NC, 28277
Mailing Address
11115 Rushmore Dr., Charlotte, NC, 28277
Year Founded
1996

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14 Customer Comments & Reviews

Loading Reviews ...
J
joe s
5/6/2017
I was fornswaggled into this cheezy mortgage company because the 3 before me sold my loan and/or went buy buy.... I had in the process of one bank bite the bullet get a lower credit rating because it came up a month I did not have to pay....I wish you would get clear of your loan when a bank goes under. It seems fair because it is their fault for going under. I also have no escrow with the bank which was not a problem with my first bank in which I signed up with...But they want more percentage points for that... even though a bank before had not paid the taxes on my house before and a lean was taken out... Isn't not totally bad but sometimes useless it trying to change anything like new... Read More

K
keene
2/4/2017
after going thru the exhaustive hoops and appraisal process for a refi, we wanted a 100000 loan on an appraised house of 175000 with credit ratings of my wife and myself of over 700 and at the last minute got declined. Royal mortgage you stink!!!

J
Jason
8/28/2016
Lending Tree asked for every private detail it could about my life and at the end of it all, it spat out "We weren't able to match you with any lenders in our network." So I've given them everything and they have given me nothing. Not impressed.

T
Trent H
8/6/2016
Lending tree does a great job of giving you many options. I do not like the fact that a phone number must be entered immediately. Get ready to have your phone blow up with offers.

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