In this day and age of online everything, loan marketplaces really make shopping for a loan easy. Instead of being a direct lender, loan marketplaces are akin to a loan buffet, giving lenders a platform to show you their best offers. Lending Tree is the best known loan marketplace, but are they a great choice for someone looking for a personal loan? Let's find out:
When you are looking for a personal loan, usually you research banks and rates one at a time. LendingTree lets you compare banks side by side, all giving you their best rates.
In business since 1998, LendingTree was the first company to harness the power of the internet. And they've perfected the "let banks compete for your business" process.
Their main website shows they know their stuff. It's chock full of information, tools, and the like. You can tell this company does not rest on its laurels, and instead strives to be a leader in the online lending marketplace.
Honestly, they do exactly what you want, and they do it well. Fill out some basic information (what amount you want to borrow, where you live, salary, etc.), and their secure portal engine does the rest, giving you several loan options from national lenders. Best of all, these offers are tailored to your criteria. Even their landing pages have an easy Q&A process and step-by-step qualification process that's very intuitive.
The only negative was the fact that they really want you to go through the Q&A. Yes, you can go to their main website and read all the cool info, but their landing pages are devoid of that. It's really not a big deal, because if you are looking for comparisons, you need to give this info anyway. But still, I'd like to see an option that lets you read a bit.
They have an A+ BBB rating, which is admirable considering they have processed more than 30 million loan requests. They also have countless reviews on all of the popular review sites.
If you want banks to compete and offer you their best rates for a personal loan, LendingTree is a logical choice. They have everything a borrower is looking for, and specialize in getting consumers the information they need to make a smart choice.