Lending Tree Loans

Lending Tree is a accumulator or mortgage leads. Mortgage companies pay to be listed in their directory for those who are shopping for a mortgage.

Call your mortgage broker to check all rates against lending tree. Most mortgage brokers offer rates that are more competitive in pricing and terms than lending tree and are easier to deal with.

Lending Tree Loans is an online exchange that sells information provided by prospective consumers to lenders that have paid a large sum of money to join Lending Tree's network. Consumers who enter their information on Lending Tree's site, will have their information sold to at least four companies, and can expect to receive several solicitations. The problem with submitting a request through Lending Tree, besides having your information sold, the lenders that contact you have paid a high price to have access to your information. This cost is undoubtedly passed on to you, the consumer.

After applying with lending tree loans expect a high volume of phone calls from mortgage companies. Even after your loan closes you may still get calls from mortgage companies who purchased information from lending tree. These calls can continue for months.

Borrowers who apply at LendingTree will have their information sold to many Brokers. They can expected to be contacted by numerous mortgage companies.

Many of these companies that are structured similar to Lending Tree and sell your information to up to 4 companies end up selling your information to more than 4 lenders one way or another. There are a lot of consumers throughout the nation who have complained that they completed one simple mortgage application form and they have ended up receiving over 30 plus calls in the first day after submitting their information. Therefore, before dealing with the Lending Tree type companies, you may want to consider simply contacting 1-2 mortgage brokerage firms instead. This way you will know exactly who you are dealing with and you know that you are not going to be solicited by numerous other companies, which can get extremely bothersome.

Unlike our online form, completing an application at LendingTree generally results in potentially dozens of credit pulls and phone calls, which can rob you of your credit score and your sanity.

LendingTree.com has become a lead aggregator to sell information. Borrowers are better off by applying with one reputable mortgage broker who has access to wholesale mortgage rates from numerous lenders.

Often interest rates from Lending Tree Loans are not the lowest rates that you can find. Although several lenders compete they also increase their final fee to offset advertising and marketing.

» DISCLAIMER: The information contained in this article on 'Lending Tree Loans' is a collection of contributions by licensed mortgage professionals and is not the opinion of Broker Outpost LLC. Always consult a licensed professional before applying for a mortgage.