LendingTree

At a Glance

Key facts:

• Product type: Online loan marketplace connecting you with banks, credit unions, and online lenders
• Typical loan amounts: About $1,000 to $50,000 through participating lenders (some lenders go higher, but $1k–$50k is the common range).
• APR range: Often around 6% to 35.99%+, depending heavily on credit profile and lender (subprime borrowers can see very high APRs).
• Loan terms: Roughly 1 to 7 years are typical, though some lenders offer up to 10 years.
• Fees:
  • LendingTree: Free to use; it’s paid by lenders, not borrowers.
  • Lenders: Many charge origination fees (often ~1%–10%) plus possible late fees.
• Credit pull to see offers: Soft credit inquiry (no impact). Hard inquiry happens only when you formally apply with a lender.
• Funding speed: Some lenders can fund within 24 hours after final approval.

Best for:

• Borrowers who want to compare multiple personal loan offers quickly
• People consolidating high-interest debt or financing big expenses who value rate competition
• Shoppers with good or excellent credit who are likely to see competitive offers

Not ideal for:

• People who hate getting sales calls/emails from multiple lenders
• Very poor-credit borrowers who may only qualify for extremely high APRs
• Borrowers who already have a preferred bank or credit union in mind

How LendingTree Personal Loans Work

LendingTree is a loan marketplace, not a lender. It doesn’t issue loans or set your interest rate. Instead, it:

1. Collects your info. You answer questions about your loan purpose, desired amount, income, housing status, and self-reported credit score.
2. Runs a soft credit check. LendingTree uses a soft inquiry to match you with lenders - this doesn’t affect your credit score.
3. Shows marketplace offers. You may see offers from up to five lenders, and LendingTree notes that users who get at least one offer receive about 20 offers on average to compare.
4. You choose a lender and apply. After you pick an offer, you complete a full application directly with that lender. At this stage, the lender will run a hard credit inquiry, which can temporarily drop your score a bit.
5. Funding. Once approved, some lenders can deposit funds to your bank account as quickly as within one business day, though timelines vary.

This model is attractive if you want competition between lenders, but it also means your contact details are being shared so lenders can pitch you directly.

Rates, Terms, and Fees: What Can You Expect?

Because LendingTree is a marketplace, it doesn’t publish one fixed rate table. However, external reviews and LendingTree’s own disclosures give a good sense of the landscape:

• Typical loan amounts: $1,000 – $50,000 through participating lenders, with higher limits sometimes available depending on lender and credit profile.
• APR range: Lower-risk borrowers may see APRs starting in the high single digits (around 6%–8%), while higher-risk borrowers can see APRs in the 30%+ range - and average APRs for some subprime tiers are much higher.
• Terms: Many personal loans on the platform offer terms between 2 and 7 years, though some lenders may offer as short as 1 year or as long as 10 years.
• Origination fees: Some lenders charge 1%–10%+ of the loan amount as an origination fee, which is typically deducted from your loan proceeds at funding.
• Other fees: You may encounter late fees or returned-payment fees. Prepayment penalties are less common on personal loans, but always check the lender’s fine print.

Bottom line on pricing: LendingTree can surface very competitive offers if your credit and income profile are strong. If your credit is fair or poor, use the marketplace primarily to see what’s realistic, but be cautious about taking on high-APR debt.

Who Qualifies for LendingTree Personal Loan Offers?

LendingTree itself doesn’t approve or deny loans; each lender has its own underwriting standards. But LendingTree’s educational content provides solid rules of thumb:

Typical factors lenders look at:

• Credit score & history.
  • Good and excellent credit (roughly 670+ FICO) tend to unlock lower APRs and bigger loan amounts.
  • Fair credit (580–669) may still qualify, but at noticeably higher rates and smaller loans.
  • Poor credit (under 580) faces the toughest approval odds and potentially steep pricing.
• Income & employment.
  Lenders generally want verifiable, stable income (pay stubs, W-2s, tax returns) to ensure you can handle monthly payments.
• Debt-to-Income (DTI) ratio.
  Many lenders prefer a DTI below 36%–43%, meaning your existing debts don’t consume most of your monthly income.
• Collateral (for secured loans).
  Some lenders on the marketplace may offer secured personal loans backed by savings, a car, or other assets; these can be more accessible with weaker credit but carry the risk of losing the collateral if you don’t pay.

LendingTree’s prequalification form is designed to show you which lenders may work with your situation without committing to a full application.

When a LendingTree Personal Loan Makes Sense

LendingTree can be a good fit if:

• You’re planning to consolidate high-interest credit card debt and want to ensure you’re getting a competitive fixed APR over a known term.
• You have good or excellent credit and want to force lenders to “compete” for your business instead of just taking the first offer you see.
• You value speed and convenience: filling out one form and comparing offers side-by-side instead of applying with five separate lenders.

It may be less ideal if:

• You already have a relationship lender (like a local credit union) that’s known for fair personal loan rates.
• Your credit profile is very weak, and most offers you see have APRs that will worsen your situation rather than help.
• You find heavy marketing outreach stressful because that’s a common user complaint after using the site.