How Does LendingTree Work?

Are you in the market to refinance your mortgage? Of course, you’re looking to refinance your new new home mortgage at a lower rate. Maybe you’re looking for something less complicated like a home equity line of credit to build a room or garage storage area. Perhaps, your kids are ready to attend that expensive college or you need a loan to buy that new car.

Regardless, of the reasons many homeowners find using the Internet to shop online for the best mortgage deals is a great tool. LendingTree.com is known as a leader in online mortgage resources.  Apply for a loan using LendingTree requires you to fill out an application online. Once you have submitted your application LendingTree guarantees a reply within 48 hours. It returns the top four online loan offers it can find.

LendingTree.com offers a convenient Resource Center link at the bottom of the web page. The website verifies it uses advanced online security features to keep your information safe. Simply fillout the online application and get your response.

No matter what type of loan you’re looking for LendingTree has numerous options. One of the first things most lenders require is your credit rating. LendingTree has this covered with page click the Resource Center link. On the Resource Center page click the link Borrowing Basics then go under the Advice section. From there you will see numerous website links to assist you in getting your latest credit score.

Be sure to check your credit report as a vital part of your application. It is also a great time to review the report carefully to make sure all the information is accurate. If there are items that are not yours terms are provided to dispute the data and make sure it is corrected accurately.

LendingTree offers three ways to get your credit report. The cost is about $8 total. Once you pay online you can instantly view your credit report online. Check your report with all the major credit bureaus to ensure accuracy. You never know, one credit bureau may have an accurate version of your report, another may contain errors.

Mistakes usually occur in these credit reports, so you should consider LendingTree’s merged option that enables you all three credit reports by mail for $29.95. To check your credit report for an entire year, LendingTree allows you to merge reports for quarterly updates by mail for $49.95.

When using LendingTree you may apply for a debt consolidation loan by returning to the Start Looking For A Loan section. Click on the Debt Consolidation link, it will then ask you how much debt you want to consolidate. Questions are detailed such as whether you want additional money or whether you are a homeowner. Record your answers in the first two fields, then click the menu option pull down list to answer the next to questions – select either yes or no, then click Continue.

From here you should choose for example, consolidate your debt via a home equity loan or line of credit. You might even choose a personal loan or line of credit. Go slowly as this page has no Back button. Filling out the sections you must select either Home Equity or Personal Loan or get out of the page by clicking to your own home page. By choosing to continue simply click the type of loan you want, then follow the prompts online to apply for loans.

Upon filling out the online applications, click the Submit button on any of the application forms, the site sends you a password. Save it so that you can use it later to complete your loan online if approved. Your will ship your loan documents to you for your signature to the lender.

The password also enables you to access your status to check your applications by clicking the Loan Status link on the LendingTree home page. It may also ask you to verify your social security number, then click View Responses. Here is the section where you can see each lender displays to view the loan details. Once you decide to accept the loan then click Accept, LendingTree deletes the other loans, and completes the process for you automatically.