What is LendingTree Loans Lending Tree - $0.00

The Loan Store Online
The Loan Store Online

Lending Tree

What is LendingTree Loans

LendingTree LLC has a wholly owned subsidiary known as LendingTree Loans*. LendingTree Loans specializes in certain types of consumer loan requests. LendingTree Loans give us the ability to provide you with multiple offers without you having to talk directly with different lenders and loan officers.

If you happen to be matched with only LendingTree Loans, LendingTree Loans will provide you with up to four loan offers based on rates and terms provided by their wholesale mortgage banks and investors. Essentially these wholesale mortgage banks and investors are competing for your business – as their rates and terms change, the rates and terms of the offers available through LendingTree Loans change as well. On occasion, LendingTree Loans will not be able to reveal the name of the wholesale mortgage bank or investor upon which an offer is based, in which case the offer may be listed under the Home Loan Center name.

As always when you use LendingTree, you may review the loan offers and talk to a loan specialist at no cost. As in the case with most lenders, once you select the loan that is right for you, LendingTree Loans may require a fee to lock-in the rate and process your loan application. Before LendingTree Loans requires such a fee, you may stop at any time at no cost. If you are approved, LendingTree Loans will close the loan as your lender in its official name (Home Loan Center, Inc.) and sell it to a wholesale mortgage bank or investor. Of course, you will be responsible for paying the loan processing, underwriting, funding, and other closing costs and fees to LendingTree Loans when you close.

If you are matched with only LendingTree Loans, you are not required to use it. If you would prefer to receive offers directly from multiple lenders and speak with multiple loan officers, please contact LendingTree Customer Care at 1-888-272-1355, and your loan request will be sent to LendingTree’s lender Exchange.

* LendingTree Loans is a trade name of Home Loan Center, Inc. Home Loan Center is a licensed mortgage lender/broker authorized to do business in all 50 states. In addition to the process described above, in certain cases, you may be matched with Home Loan Center as one of your lenders, in which case they will compete with the other lenders for your business. In that case, you are not required to use Home Loan Center.

How will LendingTree get competing offers?

LendingTree, LLC arranges for multiple loan offers either through its network of nonaffiliated Lenders or though its affiliate, Home Loan Center (doing business as “LendingTree Loans”).

On the LendingTree network, Lenders provide to us criteria about the type of loan (for example, loan amount, whether purchase, refinance, or equity loan) and the type of loan customer (for example, state of residence or creditworthiness) in which the Lender is interested. LendingTree, LLC will provide your information to up to five Lenders whose criteria match your profile. If fewer than five Lenders match your profile, you will receive offers from fewer than five Lenders. If more than five Lenders match your profile, LendingTree, LLC will match you with five Lenders with a preference for those Lenders that have the highest customer satisfaction scores and the best record of making loans to previous LendingTree customers. If you are requesting a home equity loan or home equity line of credit, in some cases we may match you with up to four Lenders based on the above criteria as well as Home Loan Center / LendingTree Loans.

If you are matched solely with Home Loan Center / LendingTree Loans, you will speak with a single loan officer and will be provided with up to four offers based on the rates and terms provided to Home Loan Center / LendingTree Loans by its wholesale mortgage banks and investors. These wholesale mortgage banks and investors update their pricing with us from time-to-time (often daily) and compete for LendingTree’s customer business by changing their rates periodically. The offers you initially receive typically will be the lowest offers based on the interest rates set by the wholesale mortgage lenders or investors willing to acquire all of the types of loan that you requested. On occasion, Home Loan Center / LendingTree Loans may not be allowed to provide the name of the wholesale mortgage bank or investor, in which case, the offer may be simply listed under the name “Home Loan Center.” All loans are originated and closed by Home Loan Center / LendingTree Loans and then sold to the wholesale mortgage bank or investor named in the offer you select.

Am I obligated to accept an offer?

You are under no obligation to accept a loan offer that is presented to you. However, if you do accept an offer, you may be obligated to pay a fee to the Lender (including LendingTree Loans or Home Loan Center) to begin the processing of your request. See the FAQ on LendingTree Loans for more information on LendingTree Loans and Home Loan Center.

Does LendingTree charge any "upfront fees"?

LendingTree does not charge any kind of fee for the service of matching borrowers with lenders. In addition, no lender that you are matched with through LendingTree will ask you for any upfront fees to "guarantee" or "insure" a loan. Beware if you are asked for a fee or "insurance" before completing an application with a loan officer. No legitimate lender does this.

If you receive calls, letters or emails from “lenders” who say that they are LendingTree or who tell you that they represent LendingTree, make sure you know the facts:

LendingTree only matches customers with lenders on our network, including LendingTree Loans. You will be notified of lenders you are matched with either through emails from LendingTree or by a LendingTree Loan Specialist over the phone. Click here to review a full list of LendingTree lenders.

LendingTree and our lenders will not ask you to pay any money for approving a loan, guaranteeing a loan or for "insuring" a loan.

LendingTree and our lenders will not ask you to send a copy of your driver’s license or social security card before you have submitted an application with a loan officer. Please note: If you complete a loan request through LendingTree, you have not completed a loan application. You must do this with the lenders with whom you are matched.

LendingTree and our lenders will never ask for your bank account information before you complete your loan application.

Legitimate lenders may ask for and charge an interest rate lock fee, application fee or appraisal fee once you begin working with a loan officer. LendingTree suggests that you use a credit card when paying any fee for your protection.

For additional information on this important issue, please see: http://www.ftc.gov/bcp/conline/pubs/tmarkg/loans.pdf

How do I get started?

It’s simple. From the home page (www.LendingTree.com), select the loan type you want and complete our online loan request. It takes about 15 minutes to complete the form. If you need help, look for our calculators and tips to help you along the way. You can also contact LendingTree Customer Care at 1-888-272-1355 and complete a loan request over the phone.

Can I mail, email or fax in my request?

LendingTree is committed to sending your financial information to Lenders quickly and accurately. Using mail, email or fax would introduce the possibility of transcription errors, unnecessary delays and additional costs - which would reduce the benefits of using LendingTree! That is why we only accept loan requests through our online forms or over the phone where we can confirm the information you provide.