LendingTree Personal Loans Review 2024 (2024)

The LendingTree personal loan marketplace may be a good fit for borrowers who:

• Want to compare multiple personal loan offers at once. As a personal loan marketplace, LendingTree makes it easy to check your rates with multiple lenders at the same time with a single application.
• Are looking to borrow a personal loan up to $50,000. LendingTree’s partners provide personal loans between $250 and $50,000.
• Have a credit score of at least 600. Although every lender sets its own requirements, LendingTree indicates that a score of at least 600 is typically needed to qualify to get a personal loan. That said, one of its partners indicates a minimum credit score requirement of just 585.

LendingTree might not be a right fit if you:

• Prefer to apply for a personal loan in person. As an online marketplace, LendingTree’s application process is typically completed through its website or mobile app. However, you may be able to apply over the phone with LendingTree’s customer service.
• Want a personal loan over $50,000. LendingTree’s personal loans max out at $50,000, but you might be able to find a larger loan by applying elsewhere.
• Don’t want to share your contact information with its network of lenders. After providing your phone number and email with LendingTree, you might get calls, texts or prerecorded messages from its network partners.

Loan Amounts and Terms

• Loan amounts. LendingTree’s partners fund personal loans between $250 and $50,000.
• Loan terms. While common repayment terms fall between three and seven years, some of LendingTree’s partners offer terms as short as one year and as long as 12 years.

Personal Loan Costs

• APR. LendingTree’s partners offer rates as low as 5.99%.
• Origination fee. Some of LendingTree’s partners may charge an origination fee, which usually costs between 1% and 8% of your loan amount.
• Late fee. Some lenders you’ll find on LendingTree will charge a fee for late payments.
• Prepayment penalty. Check with each individual lender on this marketplace to find out if it will penalize you for paying off your personal loan early.

Perks and Features

• Online prequalification with multiple lenders at once. Through the LendingTree marketplace, you can compare several loan offers from different lenders at once after filling out a simple application. This prequalification will not impact your credit.
• Flexible loan purposes. LendingTree personal loans can be used for a wide variety of purposes, including debt consolidation, home improvement, wedding expenses, medical bills, car repair and more.
• Free credit score monitoring and other features. If you sign up for a LendingTree account, you can monitor your VantageScore 3 credit score and access other resources, such as budget-tracking and cash flow analysis tools.

Personal loan applications are approved or declined based on a number of factors. All lenders have their own unique underwriting requirements, but these typically include information from an applicant’s credit profile and other factors that demonstrate the ability to repay the loan, such as income. Meeting the requirements below won’t guarantee approval, but they can help you decide if a personal loan is right for you.

Credit Score Requirements

LendingTree’s partner lenders all set their own credit score requirements. According to LendingTree, one of its partners, LendingPoint, has a minimum credit score requirement of 585, while another of its partners, Best Egg, requires a score of 700. By checking your rates through LendingTree, you’ll get a sense of which lenders you prequalify with and which ones you don’t.

Income Requirements

LendingTree states that its partner lenders typically require a minimum annual income to approve an applicant for a personal loan. The specific requirements, however, vary by lender.

Co-signers and Co-applicants

Some of LendingTree’s partner lenders may allow you to apply with a co-signer or co-applicant, such as LendingClub, OneMain Financial and Prosper. Applying with a co-applicant could help you get approved or qualify for better rates.

You can apply for a personal loan through LendingTree’s online marketplace or mobile app. You can also discuss your options by calling LendingTree’s customer service at 1-800-813-4620. If you apply online, these are the steps you’ll need to take:

1. Select your loan purpose. Start by clicking on “Get Customized Rates” on LendingTree’s personal loan platform and selecting your loan purpose. Options include debt consolidation, home improvement, medical expenses, car repair and more.
2. Choose your loan amount. Next, choose a loan amount between $250 and $50,000.
3. Fill in your personal details. These include how quickly you need the money, your address and type of residence, your employment status and pre-tax income, and your date of birth. You can also give an estimate of your credit and indicate whether you plan to apply with a co-borrower. Finally, you’ll provide your phone number, email and a password for your online account.
4. Review your loan offers. Once you’ve gone through the steps of the application, LendingTree will show you loan offers. Compare your options, keeping a close eye on interest rates, fees and repayment terms.
5. Select an offer and apply. If you see an offer you like, you can select it and apply with the lender. Remember that checking your rates with LendingTree shows you prequalification offers, which are not guaranteed until you are approved by the specific lender.

Related:Best Personal Loans Of 2024

LendingTree customer reviews are generally positive. As of the time of writing, the company has a rating of 4.6 out of 5 stars based on nearly 12,000 reviews on Trustpilot. Among these reviews, over 9,700 customers give it a five-star rating and another 12,260 give it four stars.

Satisfied customers wrote that the loan process was quick, easy and reliable. One customer said LendingTree had a “very smooth interface” and a fast response rate when they had questions. Another said that LendingTree provided better rates than its competitors.

Customers who gave LendingTree a bad review mainly complained about the volume of phone calls they received after submitting their information. One said they’d been receiving over 20 phone calls per day, as well as multiple texts from LendingTree’s network partners.

As a loan marketplace, LendingTree connects you with personal loan offers from its partner lenders, rather than providing a loan to you directly. Since the loan offers you see will be limited to LendingTree’s network, it may be worth checking your rates with other lenders, as well.

LendingTree vs. SoFi®

As one of LendingTree’s partners, you may see SoFi personal loan offers when you check your rates through the LendingTree marketplace. However, LendingTree only lets you choose a personal loan amount of up to $50,000, while SoFi may offer a loan of up to $100,000 when you apply directly.

Related: SoFi Personal Loans Review

LendingTree vs. Avant

Avant does not make the list of LendingTree’s partners, so you’ll need to apply directly to borrow from this lender. It offers fixed-rate personal loans between $2,000 and $35,000 with APRs starting around 10%. You can choose repayment terms between 12 and 60 months.

Related: Avant Personal Loans Review

LendingTree vs. Upgrade

Like Avant, Upgrade also doesn’t belong to LendingTree’s network. This personal loan lender provides loans between $1,000 and $50,000. You can choose repayment terms between 24 and 84 months and may have to pay an origination fee. Upgrade may be worth exploring if your credit score is on the low side, as its minimum credit score requirement is 580.

Related: Upgrade Personal Loans Review

We reviewed LendingTree based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We rated LendingTree based on the weighting assigned to each category:

• Loan cost: 35%
• Loan details: 20%
• Eligibility and accessibility: 20%
• Customer experience: 15%
• Application process: 10%

Within each category, we also considered several characteristics, including available loan amounts, repayment terms, APR ranges and applicable fees. We also looked at credit score requirements, whether the lender accepts co-signers or joint applications and the geographic availability of the lender. Finally, we evaluated LendingTree’s support tools, borrower perks and features that simplify the borrowing process—like prequalification options and mobile apps.