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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 ...
chiefnfkaiser
9/7/2020
Don’t do it. I wish I had read these reviews before I gave Lending Tree my information. Stay away. The below reviews are correct. I received a bazillion calls minutes after I pushed the send button. I’m cringing wondering what happened to my credit score. Some consumer group or government agency should look into this con job of a site.

M
Mia F
4/15/2020
Lending tree charged me $600 to apply for a refi 15 years ago. No refund when I was turned down. Going through a divorce, first time trying to get a mortgage myself, I didn’t know what I was doing and they took full advantage of that. I’ve never thought much of them since.

Patrick H
4/4/2020
They sell your info to other banks and those banks pull hard inquiries making your credit score drop about 150 points. They also charge very high closing fees. I will not be using Lending Tree, EVER!

G
George H
1/8/2020
They are terrible. I made the mistake of filling out a LENDING TREE form at the beginning of my search for a refinance. About a month later I was informed that 16 lenders had done HARD inquiries on my credit w/o my approval which resulted in a 150 point drop in my FICO score. I had to hire Lexington Law to get my FICO score restored, but the Credit Agencies insist on keeping a listing of the Inquiries and make the statement that I have too many inquiries. To this day what they did is hurting my score. In addition they sell our info to LENDERS & my phone still rings incessantly at all hours of the day & night. Unfortunately, it seems that they are accountable to no one. Put that together... Read More

R
Rubicundo M
6/28/2019
This so called ConsumersAdvicate website is worse than the lending company they promote. They might think we are stupid. I financed my loan with this thing. Immediately after closing they sold it to Ditech which is now in chapter 11. If they are so good, they MUST do a better job

C
Colleen C
8/6/2018
Why do you have to go through other lenders. Being Lending tree, you are aware that the inquiries from these other companies will hurt a credit score with, hard inquiries.! If any of us are working to increase our credit score. That will drop us down. And put about a months with of working back a month. This doesn’t seem far! You advertise as helping. Then put us with other lenders that hurt are credit. I would like this to be explained. Company’s send us to you, you send us out. Why is that?

P
Patricia S
6/28/2018
you put my phone number out there and I received hundreds of phone calls in a 24 hour period. Not 1 left a message so I could return the call. VERY ANNOYING

P
Parkin
4/26/2018
LendingTree is a good Mortgage Refinance company. Get ready to have your phone blow up with offers. jhkhk

S
Sharon J
7/31/2017
they gave me the amount then told me there would be an $8,000 closing cost which made our loan higher than what we wanted because their closing rates are outrageous. I complained. I woman named Jennifer called me once and supposedly connected me with another guy who called me once and I never heard from Jennifer again nor have I heard from the loan officer again nor have I received a lower rate, counter offer, agreement to work out something better, etc. It. was either their way or the highway and they plain and simply lied to me. They do not care if they get your loan or refinance you or not but whenever you punch in those numbers on your computer your phone is ringing before you can... Read More

T
Tylor
5/27/2017
Won't even pick up the phone. Or have a call center to help during nonbusiness hours. I don't see how they're rated number one.

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