Pros: Site is fairly easy to navigate; Some good user tools Cons: The offers are nothing special and there are too few of them
Lendingtree.com is an on- line financial resource that specializes in making loans. Rather than offering the loans directly itself, Lendingteee.com gathers up financial and personal information from customers and then submits the info to its member banks ...
by mrisch in Personal Finance, - Top 500, Apr 14 '01
Pros: Access to lenders Cons: Not great interest rates or coverage
When I decided to try out lendingtree.com for both an auto loan and a home equity loan, I thought there would be some real competition for my business, meaning interest rate competition and lenders willing to meet my needs. I was quite sadly...
Pros: They can find you a loan Cons: Slow response time, not as many offers as suggested
I am a sucker for advertising, if I see a good advertisement on TV I definitely check out the product. So, when I saw those cute advertisements about Lendingtree.com I filed it in the back of my mind in case I ever needed a loan.
Pros: you can view queries to your credit report Cons: not very many loan offers, bad interest rates, few useable features, user charges
Back when I was looking for a good loan in order to purchase a new vehicle, LendingTree.com was one of the places that I looked for potential assistance. I had seen all of the commercials telling me that this was the place to go, and it seemed an ...
Pros: Easy online access Cons: slow response, less than firm offers
Recently, we decided to refinance our adjustable rate mortgage. Our first thought was to try some of the online mortgage programs. Two years ago, we got our auto lease online, and had a pretty good experience with that. I tried two web sites right off...
Several years ago I applied for a $75,000 HELOC, a Home Loan Line Of Credit, with Lending Tree. They promised 4 quotes from 4 different institutions and they delivered about 15 quotes from the four lenders so I got what they advertised. I had done some ...
Pros: Clever marketing. Cons: High costs, painful process, inexperienced people, few real options in lenders or loans.
To get a good mortgage loan on the web, go directly to some lenders. Go to mtgprofessor.com and follow the advice there under shopping for a mortgage online about going directly to a fair and honest lender, rather than a middleman like Lending Tree. ...
Pros: Easy to use, give you 4 offers to choose from, straightforward offers Cons: Offers may not be exactly what you asked for, $250 credit is not as easy as they make it sound
Overall I can only find one fault with LendingTree.com - they did not come through with the $250 credit they promised us...and they may fix that yet! (Hoping, hoping... I'll post an update if they do.) Otherwise, the service was simple and easy to use....
Oh, the perils of getting a mortgage--30 year fixed, 5/1, ARM, balloon, 7/3, points, paperwork--all designed to completely confuse the average homebuyer. As if it isn't hard enough to find and choose a house. But. most of us aren't carting around enough...
Pros: Costco Partner Cons: NOT HONOR A GOOD FAITH ESTIMATE / VERY SLOW CUSTOMER SERVICE RESPONSE TO SOLVE ISSUE
04/05/07 I have just bought a house, and was in the process to shop for a mortgage and LendingTree was one of the companies I have sent my information to get a quote, since they have a partnership with Costco, and I am a BIG Costco fan, and of course, ...
Pros: Great ads Cons: Poor execution, poorer results
LendingTree.com sure has great ads. The premise of bankers fighting to win my business is an appealing notion indeed. Sadly, I must report that this site is long on promise and short on delivery and execution. The promised lower and more aggressive...
Pros: Helps you narrow your choices to three lenders and $250 credit card rebate Cons: There are broker fees and I am not sure how I was matched to Lender.
I got linked to this site from a Yahoo! Banner ad. As mentioned before, the premise behind this website is that your business is given to three lenders who offer you their best rate and compete for your business against each other and therefore getting...
Pros: prompt reply, process done online and over phone, quick delivery of checks Cons: form submission is tedious
Last February, I had finally gotten fed up with paying those outrageous interest rates on my credit cards. I had 5 cards accruing more and more interest every month and decided the time was long overdue to do something about it.
I have had a horrendous experience with the Lending Tree's customer service. I filled out most of the company’s very long on-line car loan application form, which requested every kind of personal information imaginable (ss#, mother’s maiden name,...
Pros: Good lenders to choose from Cons: Horrible design, usability
We recently were in the market for a secured line of credit on our home in order to undertake some improvements, refinance a car loan, etc. I checked with a few of the standard outlets for loans: our bank, our insurance company, etc. None were...
Pros: Internet applications are more convenient to make than applying in person at a bank. Cons: Wouldn't help because my loan was too small, has creative ways to be pushy.
LendingTree appears to be a rather customer focused site. Unfortunately, you're not the customer. Their customers are the companies that actually supply the mortgage, and who pay for LendingTree's operating costs. This sort of customer focus lead to them...
Pros: They provide exactly the service they advertise Cons: You never know what you'll get.
My wife and I refinanced our mortgage with a company we contacted via LendingTree. The service itself does precisely what it claims: it distributes your information to participating lenders and gets you up to four quotes. Any problems experienced after...
Pros: Offers were delivered as promised. Cons: Website is frusting; Your private data is kept for at least 25 months without recourse.
I recently gave LendingTree.com a try in my quest for a low-rate home loan. You know, “When banks compete, you win!” As you would expect, I had to reluctantly divulge all sorts of identity-theft-fodder information in order to complete the ...
Pros: None Cons: Invasion of privacy, tried to bait and switch, preposterous closing fees.
I had used lending tree's service about a year ago (for a home eq loan) and was happy with the results. I got 4 offers via e-mail only, no badgering to sign up from the lenders and reasonably good rates (although I eventually found better elsewhere)....
Pros: Excellent idea Cons: Reliant on outside suppliers, which often gives poor service
Lendingtree offers the chance to have various financial institutions fighting over your trade, benefit the consumer by lowering mortgage rates (or loan rates).
The site
The site is well designed and very intuitive. It is very...
Pros: The only pro I have is to stay away from them! Cons: The whole thing was a CON!
I have bought and sold five homes and done several refinances and HELOC's. Lending Tree was by far the worst experience I ever had from beginning to end! In fact they are the only bad experience that I have had! They claim to match you with four banks ...
Pros: Easy to navigate, easy to apply, fast replies. Cons: Only submitting to one lender??? Terms not clear on site!
I saw all of the commercials. I read the advertisements. I heard the stories from others. I even read the epinions concerning LendingTree.com. Recently, I wanted to apply for a small loan so I visited the site.
Pros: Ease of doing everything online Cons: Poor customer service, LONG processing time, High fees
We recently applied for a home equity loan with Lending Tree. Unfortunately, I should have read the reviews here first! When we started the process, the loan officer gave us a ball park figure on our home's value. It was $30,000 less than what the ...
Pros: None - go locally or somewhere else. Cons: Costly, over represent what they can deliver, dont stand behind their word.
My wife and I used Lending Tree recently to establish a home equity line of credit. What would take a few days by using a local mortgage guy in the end took months by LendingTree. We wanted a fairly small home equity line and we were told that only ...
Pros: A fun concept, until you try it Cons: Might as well shout your financials from the rooftops for the same results
I thought the idea of LendingTree was absolutely brilliant. Since my info would be going to lenders who knew I was looking at competitive offers, maybe they'd start lower and I'd save myself some time in the process. Too bad this isn't really the case. ...
Pros: Different loan offers, good initial process, did ultimately lower my mortgage payments Cons: Confusing paperwork, poor communication, and a nagging sense that I got cheated
I used LendingTree to refinance my mortgage in June, 2007. LendingTree is supposed to be an efficient, low cost, way to refinance. Their advertising says that they work with lots of lenders to find the absolute best deal for you. The ads imply that ...
Pros: None to speak of Cons: Does not save much time. May hurt your credit score.
The service that Lending Tree provides is not worth the effort. All they do is send your loan application to 3 or 4 lenders. They are just providing leads to these lenders, nothing more. There is no real competition like they advertise. In ...
Pros: Nothing Cons: Bait and switch, fraudulent activity, they do not honor their agreements etc.
Lending Tree is a VERY, VERY BAD company! They are plain and simple con artists and this is what they specialize in. First of all, I was contacted by one of their partners (Home Loan Center, a lending tree company) once I filled out a brief survey. The ...
Pros: Easy to use. Fast. Rewards for Use Cons: Internet site refers you to local lenders who are not competitive with internet lenders.
Background Lendingtree.com advertises a lot on television, so I'm sure most readers have heard about them. As a Entertainment book owner, I could even get $100 cash back if I went through a Lending Tree referred lender. So I filled out their ...
Recently I was looking to consolidate my bills through a home equity loan. I did the independent search for a bank to work with. But I kept running into high rates and rude people. I saw a commercial for lendingtree.com, it claimed that through it's...
Pros: None. Lending Tree will attempt to take you to the cleaners Cons: Everything about lending tree is a con. Stay Away!!!
Lending tree almost suckered me in to their scheme. I was all ready to refinance with them. I was going to get a good rate and the closing costs seemed reasonable. Then they tell you that to lock your rate you will have to put down a ...
Pros: Mortgage was eventually refinanced at a good rate. Cons: Terrible customer service, extremely slow.
I have used LendingTree in the past and have had great success and a great turnaround time. That was back when you would actually get three or four different lenders trying to compete for your money. That was over three years ago. Today, LendingTree ...
Pros: None that I can think of Cons: The whole Lending Tree deal is a con.....
If I can save anyone else the agony of losing $600 through this review, it will be worth it to me. And after reading other reviews here, it is clear to me that I was not alone in my experience. What exactly are the "best rates"? Who knows. Nobody ...
On the same day I applied with Lending Tree, I printed out a list of local rates from Bankrate.com. While the Lending Tree application was pretty standard, it did take a while to fill out--I was very glad I was on a broadband connection to zip through...
Pros: None Cons: Rates up to 1.3% higher than best
Got only 3 offers
Confusing loan application finalization
Great concept: "...banks compete, you win..." or so I thought until I have gone through the Auto loan application with Lending Tree. I should have looked at epinions first. I personally did not win at LendingTree, just lost time.
Pros: efficient web site Cons: recommends questionable loan companies
LendingTree.com purports to get you the mortgage rate because "lenders compete for your business." While true, we did get 4 companies soliciting our mortgage, the "teaser" rates we're not the best in the market. Further, the...
Pros: Are there? Cons: impersonal, not forthright, uncaring
I do not eat at fast food restaurants because of the lack of concern on the preparers part when it comes to the final product. As long as the food is wrapped and in the bag, and your money is in their register, they really could care less about your ...
Pros: quick response with offers, lots of email updates Cons: hounded via email/phone/snail mail by the banks 'competing' over you
LendingTree's web site is clunky, but usable. The response times of
the banks that contract with LendingTree were good, although the terms
of the mortgages weren't. One of the banks had the offer we were looking
for, but backed off to a...
Pros: None that I can think of Cons: Lots of filling in blanks
The Lending tree sends your inquiry to 4 Lenders to bid on the loans, however what you don't know is that they send it to the 4 lenders that they like the best, which may not give you the best rate for the loan type that you are looking for. Take it from...
Pros: Absolutely none Cons: Useless customer service, lead generation only, rates change at the lenders whim, hidden fees
Avoid this if you can. The forms you have to fill are really lengthly, and the quotes lenders get back to with will most likely change radically. They are completely non binding, and all the lenders that responded to mine changed their rates/points as...
Pros: some good general loan info on the site Cons: problems with site, telemarketers
Being a first time home buyer bought into Lending Tree's ads and thought this would be a great way to go!
The application process was painful, they shouldn't need that much information to give you a Loan quote. I am very worried now thinking...
Pros: Friendly. Cons: Just go directly to the banks. They don't offer anything worthwhile.
I went with them because they told me one thing (and I believed them)...then I compared it to an (honest) Bank and they always seemed to be a better deal... Well I got a big headach and got screwed. The biggest issue was that I showed up to ...
Pros: Did not have to get out of my car. Cons: Kept me hanging on until the last minute & beyond.
…BUYER BEWARE~~~Initially the person I began the loan process with was WONDERFUL!! Communicative, polite, responsive…once my loan went to my personalized loan processor everything went down the tubes, esp as far as customer service. She never ...
Pros: None! Cons: tell all good to reel you in. then keep money no matter what.
House payment went up again & with economy decided to check into refinancing. Looked online for companies & saw Lending Tree. Had heard of them & from what I saw on reviews decided to use this company. Did the online application & ...
Pros: None. Stay with a local friendly broker. Cons: No face to face interaction. Lending Tree cannot resolve disputes.
Let me tell you about our experience. We went through Lending Tree and were contacted by several companies. Be prepared for your phone and inbox to be inundated for at least two months after you have received your financing! The rates were all pretty ...
Pros: NONE! Cons: Horrible company, bad service, high rates, rude people, dont assist through the loan process.
I decided to use LendingTree in hopes of receiving competitive offers from multiple banks for my business. This never happened. My personal information did not transmit over the internet at the initial application stage and for a week they assumed I was ...
Pros: None Cons: Do your homework before giving LendingTree.com your money
LendingTree.com and Home Loan Center denied me a $600.00 refund of a deposit for locking-in the interest rate and specified closing costs on a first time home purchase. They changed the terms on the loan from 0% down to 5% down a week before the closing ...
Pros: Easy to follow online instructions Cons: Slow to get back to you and very picky on your answers
Lending Tree seems easy enough to use but I found a lot of trouble getting the correct answers out. I should say that if I wanted to make a down payment of $1000.00 instead of the recommended 5%, it would not allow me to proceed. I had to continually...
Pros: Quick and Easy to use Cons: need to add more lenders
It's about time someone took the Exchange Idea to a New Level. I recently began looking into a Small Business Loan and found that I was easily frustrated by all the misleading ad's and hype surrounding Online Lending. I must have went to 15 different...
Lending Tree.Com is the way to go in my opinion. I received fast service by four real lenders. I choose Beat Rate and they were all that I could ask for. They used a local appraiser which made valuation no problem. Escrow went very smooth. The loan...
Pros: Quickly located a con-man to steal my money Cons: EXACTLY!!! LendingTree knew of a situation and continued to send loans to Magellan Home Loans
After Magellan Home Loans stole $1500 dollars from me and $5000 from an associate that also attempted to use them, LendingTree.com offered to help resolve the matter. Lending Tree offered to help but, when push came to shove, they stopped returning...
Pros: Easy to reach them Cons: No idea who they are sending you to... a horrible experience
Instead of applying online - with all our personal info, we asked for a referral program... they gave us 4 names for lenders who could meet our needs. At one (Catholic Home Mortgage) - bait and switch was the policy - they just outright did not meet ...
Pros: Fast Call Back Cons: Only 2 lenders they work with, on the lenders side not yours.
It's a rip-off. They only have 2 lenders, one is Countrywide. It's called bait and switch. They would pull you in with a low rate when you first speak to them, make everything sound great, give you fake offers from different lenders, then hook you with a ...
Letter to Lendingtree
CC: BBB
On July 29, 2002 I refinanced my mortgage with lending tree as part of their "get $200.00 Back" promotion during the month of July 2002. I was left to believe that upon closing of my mortgage, I will be getting a...
Pros: finds banks for auto loans Cons: no dealer will take there 'checks'
i recently searched for auto loans on lendingtree and found 3 good rates and got a 'check' in the mail from the best company. the paperwork said bring the check to the dealer, put the VIN # on the check and i've got a loan.
Pros: Fairly easy to use, but did better going to banks on my own Cons: Only submitted my app. to one lender whom I had never heard of; poor service
I was told that I would get "up to" 4 offers. Well, they only submitted my application to one mortgage lender--and it was some company I'd never heard of. When I questioned why, they said decisions were made by a computer using a variety of factors....
Pros: Easy website, quick response. Cons: Not well organized. Poorly trained!!
Using Lending Tree to re-fi our home turned out to be not as great as they would make it appear. I went to their website, filled out their forms, and within days got a few offers. Nothing great. Nothing I could of done myself. But, never the less, they ...
Pros: They did connect me with my lender and real estate agent. Cons: Misrepresented the incentives available to service users.
I used LendingTree.com to find my realtor and mortgage lender. At that time I was promised two distinct incentives. Now that it comes time to pay off on the incentives, I am not eligible for them. The funny thing is that the CSRs say that I am...
Pros: I suppose that the broker a Lending Tree did have more products to compare. Cons: Deceptive. Expensive.
The "TrueCost" of a loan with Lending Tree does not include origination fees for the loan. It is Lending Tree's fee. It is one of the ways they pay for their adds and make their money. This is the fee they charge for their services, which include ...
Pros: Um, what pros? Cons: Violated the Federal Truth in Lending Act
I just closed a mortgage with Lending Tree last week. First of all I will say that the interest rate they offered me was identical to that offered by about 4 or 5 other internet based lenders. The only difference is that they claimed there would be no ...
Pros: Easy to use the service. Cons: Difficult to report to them on status of vendor difficulties.
It is difficult to report to them about the numerous problems you encounter with their vendor, like VINTAGE MORTGAGE.
Lending Tree gets their pound of flesh no matter what. You get to choose and then you loose, especially if you choose VINTAGE...
Pros: None Cons: Sorry, but 15 words max isn't enough to cover it
Lending Tree is nothing short of a scam in my opinion. Am currently in dispute over the so-called necessary $600 I needed to put down to "secure" my low rate. They assured me that my money would be refunded upon closing. What they don't tell you is if ...
I applied online. Though you're supposed to hear back right away, I heard nothing for several days. When I called to check on the status, I was informed that they had only been able to line me up with one lender, and that lender had declined to offer...
Pros: Easy Registration Cons: Do not deliver as advertised
I applied for a home refinance mortgage through LendingTree. After waiting several days, not hours, I only received one offer back. The interest rate quoted was laughable. I Understand that this is not LendingTree's rate quote, however it seems that...
Pros: Great marketing!! Cons: Your options = same little group of Lenders for every loan.
Cute little marketing scheme!!!! LendingTree is no more than a neat ADVERTISEMENT that sucks in all of your information for a million telemarketers, say hello to junk mail and snail junk mail from advertising mail processors all in the name of "Getting...
Pros: Lot of activity if you are interested in a mortgage refinance for your home Cons: No response to your request for HELOC Instead sneakily publish cellphone/email to the world
The site says that you can get HELOC quotes. I got none. I have great credit and 30% home equity available. They found no one to offer a HELOC. Instead, they automatically created communications to many lenders stating that I ...
Lending Tree is trolling for low credit scorers by taliesin_north ,Nov 18 '08
Pros: I thought their website was user friendly. Cons: no relevant reason to deny me
I decided to buy investment property and went thru LT's website to apply for a loan. They denied me and told me that no banks wanted to lend me money. Hmmmm.... my credit score is 830, my salary is $124k, I have zero debt, I had $50k for a down and I only wanted a loan for $160k. Does this mean the bailout is not working or that Lending Tree is looking for $$ loans for people with bad credit? I asked why I was denied and they emailed me a boiler plate list of reasons; none that applied to me. I called them to ask why and they said I have to fill out another lengthy application to find out.
Pros: Good idea Cons: Inundated with spam and telemarketers. Total invasion of privacy.
I was looking to refinance about a year ago and thought I would try Lending Tree as it sounded like a good idea. We did get 4 offers within a week, but only one was even in the ballpark. We decided to look elsewhere when we got in touch with the bank and found the closing fees where outrageous.
We did eventually refinance through a local bank and got a much better deal.
The big problem I have with this company is I am still getting about 7 e-mails a day as a result of applying with Lending Tree over a year ago. It somehow gets through the spam filters. I know it is as a result of applying through Lending Tree as it was the only company we contacted about refinancing on the internet. To date I would estimate I've deleted in excess of 1500 e-mails (and still counting)as a result of filling out their forms to apply for a loan.
In conclusion, I think you can get a better deal if you do some leg work and research on you own and you'll save yourself the headache of being spammed and telephoned to death.
Deceptive Assessments of Lenders by fantoom ,Nov 19 '03
Pros: Easy to use Cons: The "Lender's Scorecard" is deceptive.
LendingTree provides a "Lender's Scorecard", assessing the various lenders in areas such as fees, responsiveness, etc., While discussing a problem with a lender associated with LendingTree, the customer service representative stated that the "Lender's Scorecard" is not directly related to customer feedback on a "one-to-one" basis. Instead, LendingTree reviews customer feedback, and based on that review, generates it's own assessment of responsiveness, fees, etc.
Seems rather self-serving for a company to assess the companies that provide it with revenue, rather than calculating user satifaction directly from user feedback. Again, the user is led to believe that the assessments are directly based on individual responses, when in fact LendingTree puts their own "spin" on these responses.
Was your personal information hacked? 4/26/08 by needtovent ,Apr 26 '08
Pros: NONE Cons: Security of personal information with LendingTree is non-existant.
I applied with LendingTree in 2006 but never completed a transaction with them because I found better financing elsewhere. I received a letter in the mail 4/25/08 informing me that my personal information was stolen by former LendingTree employees and released to unauthorized mortgage brokers. My credit report was hit 42 times in three weeks during this period, causing a decline in my credit score.
Upon calling LendingTree, I was advised they were not responsible for any activity on consumer credit reports and felt no need to even make a statement to any of the credit bureaus that may help consumers dispute unauthorized hits on their credit reports. There must be some consumer fraud law being broken here. See Consumeraffairs.com and Theredtapecronicles.com for further information. All affected consumers need to complain to state and local officials about this gross mishandling of private information.
Beware of Additional Closing Costs!!!!! by ladeana ,Dec 26 '08
Pros: one place to get many quotes Cons: $450 fee and my phone is still ringing off the hook with persistant brokers!
What lending tree doesn't tell you up front is that once you close a loan from using a quote from their site the lender will charge you $450 lending tree fee on top of everything else! Very disappointing!
LT Provided Bogus Offer from One Bad Lendor (WCS Lending) by jdsonline ,Jan 26 '09
Pros: None. Don't bother using this service Cons: Lack of quality vendors. One offer received was misleading or dishonest.
I signed up for a mortgage refinance through Lending Tree and despite excellent credit, I only got one company's offer. The company WCS Lending gave me a great quote ~4.375%, but when I got the Good Faith Estimate the rate was ~5.5%. It felt like a bait and switch tactict to me.
The mortgage consultant, said it was a typo and he simply entered the wrong number. But, the revised rate was 5.5 not even 5.375. A typo from 4.375 to 5.5 - or even 5.375 is inexcusable. Since they refused to stand by their original rate, I tried to enter a formal complaint with Lending Tree since according to their records, both WCS Lending and the mortgage consultant have 4 star feedback. Lending tree only said that they would consider all information received.
Lending Tree is waist of time, provides bad information from bad companies and then does not allow you to enter negative feedback about the company or the mortgage consultant.
Pros: Settled quickly. We've got no debt and an 820 credit rating. Cons: We probably paid too much for this refi.
After weeks of back and forth with agent from LSI, Inc. one of the Lending Tree brokers that contacted me, we "locked" at .4625 for a 15 yr refi with 1 point. About 5 hours before the escrow agent shows up for settlement, the origination fee went up to 1.25% -- an additional $500. I couldn't believe it. The agent gave me some bullcrap which made no sense and said that he pleaded with their bank to knock charges off of the title stuff. The difference was supposedly $180. Nonetheless, we came very close to cancelling the loan. I would steer away from these guys and try to find local banks or brokers you can negotiate with and trust.
Unprofessional and charged me for services not rendered by absingh ,Jan 05 '09
Pros: None. Cons: Very expensive lesson I learned. Unprofessional and unreliable staff, and expensive.
Horrible customer service. They'll ask for upfront fee of $600 for home refi and then leave you hanging. I had to call them to get updates, got stood up by their appraiser. No one had any idea what had happened. I missed the December 31st deadline due to their incompetence, and got charged $600 for which I have nothing to show for.
Pros: I found no pros in this experience Cons: Supposed to be easy and effective -- it's neither
I was recently in the market for a home mortgage and thought I would try Lending Tree. They said you would get up to four responses within minutes. I realized quickly that the operative phrase here is "up to."
In fact, I got one response -- from Quicken. And from Quicken I got a used car hustle - complete with "If I get the rate you want, are you prepared to do a deal today?" And the requisite: "I have to take this to my manager." They quoted what they said was their best rate because I was such a solid borrower. And when I said that they were way high -- they immediately started coming down. I need to go on line for this? When I told them the rate and costs I got from a local bank, the sale person's response was "My manager says that is impossible." Well -- that is the rate I got and the mortgage I now have.
And just to complete the experience -- very few of the facts I dutifully filled out on Lending Tree made it to Quicken. I essentially had to do the app again.
Pros: Great Customer Service. Easy To navigate site. Great rates for good/excellent credit. Cons: N/A
We have now gotten 3 loans through lending tree and we are always very happy. We get great deals on rates (we have 1 auto loan refinanced, 1 home refinance and 1 new mortgage) and the customer service is awesome. Like any lender, if you have so-so or bad credit, even lending tree isn't going to compete for your loan but if you have good or great credit, this is the place for you to get a loan. Everything is extreamly clear and easy, never any bumps in the road and if you have any questions, they are answered fully and promptly. I cannot say enough good things about lendingtree.com and I will continue to use them for future loans.
Pros: None Cons: Sell your contact information to telemarketers, featured lenders offer nothing special
Literally minutes after completing my LendingTree application I began receiving all kinds of phone calls from pushy, deceptive, telemarketer/used car salesman-type mortgage lenders. Most offered nothing special by any stretch of the imagination, and had relatively high rates. After receiving endless phone calls, I attempted to ignore them. Many continue to call my house several times a day. In addition to the few lenders that lending tree selected for me, I am pretty sure that they sold my contact information to countless others who have also been ringing my phone off the hook. The other day I had nine new voice mail messages. I am seriously considering changing my number. I feel like an idiot for using LendingTree. I should have expected this type of thing to happen. Personally, I think I will be much better off searching websites of local and more reputable/established banks and comparing rates myself.
Lost 600 Dollars and Got Nothing At All by kevquinn ,Jul 27 '05
Pros: the agent was very friendly and knowledgeable. Cons: wouldn't give me the appraisal report that they paid for with my money.
I signed a rate lock agreement and decided not to go through with the loan that I started to process. I don't have a complaint about their service in general. There is nothing special about this company. They are an ordinary broker. However, I am very upset that they wouldn't even give me a copy of the appraisal report that I paid for, UNLESS the loan funded. I wouldn't do business with a company like this again.
Pros: In the end- NONE Cons: $600 Lock Deposit Non-refundable even it THEY are at Fault
After paying Lending Tree a whopping $600 to lock the rate, which, by the way many local banks do absolutely free, they sent an appraiser from out of state who undervalued the home by $40,000! The square footage was off by a couple hundred! I received NO HELP from Lending Tree, they basically acted as if it was my problem to deal with. I ended up having to use a local bank, who actually ended up giving me a lower rate, but I was unable to get my $600 dollars back even though it was their fault that the loan did not go through! BEWARE!
Pros: One application netted four offers Cons: the offers were so far off my terms as to be useless
Competition is meaningless when the terms vary as widely as my 4 offers did. I asked for quotes on $15k over 4 years and got offers for $20k over 5 years and $25k over 6 years, and one for $13k which was useless.
Principal is kind of a fixed notion, so I was struck by the offers not sticking to that amount. I fully expected different (nay competitive!) offers as to interest rates, but got only above market quotes on different terms than I requested.
I tried LT online help to see if A) My request was unusual or B) Maybe I messed up the application somehow. The answer (3 times) was to contact the lender. So what was the whole application process for? Contacting a lender by myself is easy, I wanted a meaningful response to my loan request.
I didn't get that at Lending Tree. And now they have my info for 2 years :(
Pros: Easy to use website Cons: Customer service is non-existent
Not satisfied with its business practices
There are much better choices than LendingTree.com. They tend to cater to the people with lower FICO scores who don't know differently. I was pushed to four lenders all substandard even with a FICO store of over 800. One lender wanted $400 upfront and then sends me all of the mortgage paperwork expecting me to have it notarized myself.
When I complained about the practices of one of their vendors, my compliant went ignored. I would never use this company again.
Avoid them, they won't delete your account after you find a loan. by firefly2k ,Feb 19 '06
Pros: Lots of offers Cons: Can't stop the offers from coming (phone and email), even if you get a loan.
I found a better loan elsewhere and tried to close my account with lendingtree.com, but they stated that they couldn't because state and federal laws required them to maintain a record of the loan request. I said that was fine, but to close my account so that I wouldn't keep receiving offers for a loan that I no longer needed, but again they said they couldn't do it. The best they could do is put my phone on a "Do Not Call" list that will take up to two weeks complete. I regret giving them my contact information and recommend that everyone steer clear of them.
I tried LendingTree to see what kind of offers I would get and was excited to see that I did indeed get offers from 4 lending institutions and the rates and fees were much lower than I expected. However, upon talking with these lenders directly, those rates and fees quoted to me on LendingTree (after I filled out a lengthy application, including authorizing a credit check) were WAY off. Fees were sometimes twice as high and rates about .5% higher. After this experience with the first lender on the list, it became clear that I would have to contact each lender on the list and answer more questions to get actual quotes. This saved me no time and the quotes I got were less than competitive. I understand that the initial quotes are just estimates, but given the amount of information I provided on the LendingTree application, those quotes should have been a lot closer to reality. Don't waste your time with LendingTree, just contact lenders directly.
Pros: quick form, quick response Cons: No good deals, lots of annoying calls and emails
I am so sorry I bothered with lendingtree. Starting moments after I provided my applicaiton, I was beseiged with emails and phone calls, even though I did not want to receive any calls. And even worse, ALL THE BANKS they sent me to conducted their own credit checks right away. What they don't tell you is that all these credit checks serve to LOWER your credit!!! That's because the bureaus' mysterious methods figure that if you apply alot, it's because you get turned down alot.
Finally, not one of the offers was anything special. It took one phone call to a random local bank to beat them all.
Lendingtree is nothing but a LEAD GENERATOR machine. They get your name and they sell it. They sell it as many ways as humanly possible.
Pros: NONE Cons: Not what it seems, avoid avoid avoid.
This is not a search engine like orbitz or expedia where they search the web and come back with the best price. They take your information and send it out to all kinds of lending agencies that will hound you until you want to change your phone number. Do not fall for their nice website or slick commercials. This is a scam.
Pros: Initial form easy and fast to complete.
Initial contact was very helpful and pleasant. Cons: Secondary contact unpleasant and left out KEY loan details.
Phone calls not returned.
When I applied to with Lending Tree, my first contact was great...she seemed knowledgeable and things seemed to be great and moving fine. Then, they assigned my 'Equity Specialist'. He turned out to be a total bust! He would never return my calls and leave me messages at odd hours when I was not available. When I finally did reach him, things got moving again, however he omitted several KEY points on the loan I was applying for. At the time the 'signing agent' called me, she went over what I was signing for and it was NOT what I had agreed to with the 'Equity Specialist'. I cancelled the loan, and informed the Equity Specialist's supervisor of the problem. He was not sympathetic in the lease, which lead me to believe this was not the first time they had mislead a potential customer!
Save your time and energy by passing on these guys...
Pros: NONE!!! Beware of your wallet!!!!! Cons: Dishonest, Fast-talking, unclear, hiddencosts , cursing, yelling, unprofessional
I had a terrible experience with lendingtree and would never recommend using this company. It's not a complete scam, however this company has no clue who their own lenders are. We had one lender curse at my realtor and my fiance! She was so out of control I ended up reporting her to lending tree who said this happens frequently. What?? frequently??? Then after I asked lendingtree to discontinue my account, I still recieved calls from lenders. The lenders may be offering 'lower' rates, but there are hidden fees and costs they won't tell you about. BEWARE!!! My advice is to go through a recommended lender from a family member or friend. My realtor recommended a great lender and what a different experience. Someone who is honest, upfront, and not fast talking is someone you want to deal with. Rather than these people.
LendingTree is NOT a one-stop-shop by danneskjold ,Aug 18 '05
Pros: Easy Cons: Could cost you thousands of dollars in added fees.
Be aware. LendingTree bills itself as a sort-of mall where lenders all come to compete for your business. The fact is that while there are several lenders there, the goal of lending tree employees is not to find you a great loan, but to get you into a loan. I was about to lock myself into a loan. I have never taken a mortgage before and I was assured that points (basically a fee for me of $3000), and other related costs (another $1700) are standard in addition to a 5.8% interest rate. "Otherwise," I was told, "the banks can't make money." I was also told that the mortgage amount needed to be more than $60,000.00 -- I stalled and looked around. I found that ING Direct offers home mortgages without points for a lower interest rate -- I guess they are not in the Lending Tree network. Lending Tree probably started out as a noble idea with competition and the customer's interest at heart, but it has turned into a racket. Definitely shop around.
I have obtained attorney to sue for false and misleading rates, failure to break down fees and closing cost in failure to provide letter under req b.
Basic Bait and switch and failure to comply with disclosure laws and lending statutes
Not Sure this is all that's advertised by siddha ,Aug 31 '05
Pros: Seem to have good customer service Cons: Site errors, not the best loan offers, not as many offers as advertised.
LendingTree seems like a great deal, but, I've had nothing but difficulty with their site (using a Mac and a PC) with lots of server errors. After two or three tries, I have never come away with more than one loan offer -- using full financial disclosure, and having above excellent credit. The loan offers were never better than I could have gotten myself. However, after one particular site problem, I did receive a phone call from them asking if I needed assistance. So, they do seem to have attentive service.
Unfortunate telemarketing calls as a result of my app by alphafemme ,Jun 03 '05
Pros: These lenders really will court your business Cons: The telemarketing calls!!!!
I didn't go with a lending tree lender because I got a good deal from the mortgage company that was financing my condo conversion. However, I can say that one lender worked very hard to try to find a good loan for me.
Now here is the downside to Lending Tree. I work for a Government agency and I do NOT give out my work number except to the Court or opposing counsel. After filling out the Lending Tree application, which included my office telephone number, I have been getting an average of two to three telemarketing calls per day on my work line from mortgage companies, usually of the pre-recorded variety. I know it is from my Lending Tree app. because 1) they are all mortgage companies that are calling, and 2) I have only given my office number out to people directly involved in my work and my office line is a secure line. I HATE getting telemarketing calls anywhere, let alone at WORK! So for that reason alone, I wouldn't recommend Lending Tree.
The lenders pay for these leads and have to recoup the expence somewhere. When you shop for rates only it seems lenders bait you with low rates but add points and fees and all sorts of closing costs. When you get a good faith estimate from a lender (which is mandated by law) look at the charges. Most good Realtors and attorneys understand all the charges and could explain them to you. When you shop be shure to shop all the cost not for rates.
Pros: fast, easy, GREAT rates Cons: Needed information notarized and was not aware of that. Lenders fault.
I tried lending tree because I figured "when banks compete you win." Well I found just that. I received about 4 offers back from Lending Tree and I was not harassed. All I received were the emails of the offers and then phone numbers if I wanted to call them back. All banks overnighted the applications that I requested. I think the whole process was completed in about 2 1/2 weeks and I had my check in hand. I had great success working with my Lending Tree lender, Charter One. Will use this service again and recommend it to my friends. I will probably try it again if I refinance in the future. I received a 6.25% interest rate on a home equity loan. The only bad thing is that I cant use them for land loans :)
Pros: Did a new car loan with Lending tree and it was a great experience. Cons: They lie to get your money.
Lending tree associates will give you false information in order to get your deposit.
I was given a closing cost estimate of $3000.00 and when it came time to close I had to come up with $6,600.00. That's a difference of 3,600.00 from the "good faith" estimate. I don't know of any one that has had an estimate be so off. I was able to get another lender to close me, but not with out losing my $600.00 deposit. I have tried contacting Lending tree about this but I have not heard from them. I have also submitted a formal complaint with the BBB. Be aware that their professional estimates are very wrong. I would not recommend them for a home loan.
I had a great, and inexpensive, experience by tom01977 ,Aug 16 '07
Pros: Easy, helpful staff, and much less expensive than a local mortgage broker and credit union. Cons: Lack face-to-face relationship.
I can't believe all these negative reviews on this website. Either they were from the few and most disgruntled customers, written a long time ago, or written by mortgage brokers who hate this company because they're better and cheaper. For me it was fast and easy, and cost significantly less than the other options I explored (including a traditional broker who tried to scare me away from Lending Tree). Maybe b/c I had good credit and was getting a conventional loan, but I wasn't contacted by ANYBODY expect the nice lady at Lending Tree who helped me through the process. That's what makes me think the horror stories are fabricated (or maybe the company used to operate differently). But for me in June 2007, the company originated my loan and quickly sold it on the secondary market - exactly like I expected.
Pros: Easy forms, v. quick response, email updates, no sharing your info Cons: I haven't had any so far. I feel they are a capable, helpful company/website.
The first time I used LendingTree.com was when I had trouble getting a credit card. Some of my parents' old medical bills (paid) had gotten onto my record, making it inaccurate and lowering the score. Also during my marriage I did not realize that my ex had all the accounts in his name, and simply got me a card with my name on it (not that I got to use it much!) Anyway - I was hooked up with First Premier and got a low limit card, and after that I was offered much more credit (most of which I ignored!). Then, when I realized a house would cost less than rent, I filled out a form to get mortgage offers. I was matched with Mortgage Lenders of America who have given me outstanding service. I've recommended the site to friends and family as it makes scary financial stuff a bit easier. I think if you're looking for bells and whistles you may not be as pleased, but for simple, starting-off help, I found it to be a good place to start and trustworthy as well.
Lending Tree is far from "Free" by snufalufugus ,Jul 23 '07
Pros: Great marketing. Cons: Bad for your credit, expensive charges to the Lender that you pay.
The prospect of Lenders underbidding one another to get your business is certainly an attractive proposition. However, when you delve a little deeper, there are some other aspects of this service that we found many people either did not consider or just did not know.
Great article at www.lenderreviewboard.com/lending_tree.htm
Great experience with Lending Tree by asheon ,Dec 01 '05
Pros: Convenient, courteous, prompt service and great rates! Cons: None noted.
After entering information on their easy website, I was promptly contacted by Alana. She asked the right questions to ascertain my loan needs, and quickly got back to me with several offers, the best of which was considerably better than those I had found on my own. She returned my calls promptly, and always got back to me when she said she would.
As I was scheduled to be on vacation during the closing, Alana assured me that she would send a notary anywhere, at my convenience, to complete the transaction.
In the end, I did not close the loan because my existing loan rate adjustment was to a much lower level than I had anticipated. Alana was very gracious and accommodating. Once my existing loan adjusts again, I won't hesitate to pick up the phone and call Alana to refinance. She can be reached at 888-866-1212, ext 8367.
You might as well call this "Iwantsolicitation.com" by gluesniffer ,Feb 26 '04
Pros: It's online. It's nationally known. Cons: Nobody is competing. Find the same banks and rates anywhere on the web.
Looking for a mortgage? Don't even try here. You may as well go to four banks in your local community. It is to say the least "pathetic". I received four emails from various banks essentially advertising their rates for the day. Then I received a ton of phone calls with nothing more to offer than the rates that I could find on their website. One of the banks Lendingtree.com turned me onto had not updated their rates on their website in 9 months!!! I sort of figured that this is what I would receive but I thought maybe they might have something on the caliber of mortgagebot.com or greenpoint.com. Mortgagebot.com is now defunct for consumers so I would advise Greenpoint.com (which is a customer of Mortgagebot). I haven't used Greenpoint.com yet but I will be. It's all about cash and I want to keep mine.
Low rates, low fees, and no solicitation-Is that too much to ask for?
lendingtree.com, waste of time by denissr ,Feb 16 '05
Pros: None Cons: They and their partners keep sending emails.
When I contacted them a while back I got lots of offers. They were all much higher that I could get here locally. They were of no use and I'm still bothered with their emails. I just can't get rid of them.
Save yourself $600 and AVOID The Lending Tree by maskedobserver ,Mar 27 '07
Pros: NONE Cons: Where to begin?? There are just too many to list.
Do yourself a favor, and AVOID The Lending Tree. Read through some of the comments here, and you'll see that several people say the same thing. It's true. Using Lending Tree for a home mortgage is a MISTAKE. They make you sign a rate lock agreement and put $600 on your credit card. Most banks will guarantee your loan for free.
If you call four local banks, which you can usually find their rates and phone numbers in your Sunday newspaper, you will save yourself a lot of stress, $600, and will most likely get the same or better offer. I am getting a better loan through a local bank, and won't be dealing with the scam artists that are Lending Tree.
If anyone at Lending Tree is reading this, I don't know how you sleep at night.
Customer service sucked by cookieman123 ,Jul 14 '07
Pros: good rates Cons: service sucked
I thought this was a great Idea to do a loan and not even leave the house , well it started out good and in the middle of my loan prosess they decided to down size the company and do a re org and guess what was next , no response , no return call and in turn I told them to take the loan and put it where the sun dont shine
cost me $600.00 of my lock in rate that they would not give back ...Never again
Great loan! Set me up with Surepoint Lending! by loveadeal ,Oct 17 '09
Pros: Speed, accuracy of quote to closing, integrity, honesty, availability Cons: None-my experience was better than anticipated!
I went on to their website and applied. Surepoint Lending was the first lender to contact me. They were upfront and honest with what I qualified for and saved me over $900 per month and got me away from my adjustable mortgage and into a fixed rate!
Rodney Jones was an awesome Loan advisor and I would recommend him to anyone!
Before you do anything-do your homework by tarotbysonic ,May 13 '08
Pros: Lending tree helped me immensely. Cons: I only received 2 offers-thankfully one of them suited my needs.
I got 2 offers when I attempted to refinance a new auto loan just 8 months after I bought the vehicle. Wachovia was a DREAM to work with. Quick, electronic, no hidden fee's. They saved me $4,000 on my over all loan and did not extend the duration of it.
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