LendingTree Mortgage Refinance Review
LendingTree is a Charlotte, North Carolina-based online lending exchange that connects its users with multiple lenders, banks and credit partners who compete for business. While not a direct supplier of loans, LendingTree is instead a broker. It was founded in 1998 and, since than, it has facilitated more than 32 million loan requests.
LendingTree has one of the largest networks of mortgage lenders in the country. Its goal is to make home refinancing easier by giving homeowners the best information and letting them make the decisions and select the the best quotes for them.
The entire process takes only a matter of minutes. Homeowners get quotes from as many as five lenders, and all without leaving the comfort of their homes. In addition to this, they can also track their credit scores, review loan and credit card accounts, and get notifications from LendingTree whenever there’s an opportunity to save money. And the best part is it’s free.
Types of Home Refinancing Mortgages
- Fixed Rate Mortgages
- Adjustable Rate Mortgages
In addition to mortgage refinancing, LendingTree also offers home equity loans and reverse mortgage options through its network of mortgage lenders.
What you need to qualify for mortgage refinance
| Credit Score | 580 or better |
| Income to Debt Ratio | 35% or more |
| Years Employed | 2 years |
| Loan Terms | Up to 30 years |
Refinance Mortgage Rates
Fixed Rate Mortgages
| 30-Year Term | 15-Year Term | |
| Mortgage amount | $100,000 | $100,000 |
| Annual percentage rate (APR) | 3.18% | 2.65% |
| Number of monthly payments | 360 | 180 |
| Principal and interest | $512.21 | $729.33 |
Adjustable Rate Mortgages
| 5/1 ARM | |
| Mortgage amount | $100,000 |
| Annual Percentage Rate (APR) | 3.13% for the first 60 months |
| Number of monthly payments | 360 |
| Principal and interest | $454.21 |
Why choose LendingTree
LendingTree’s superpower is its ability to connect homeowners with many different lenders, all of whom are competing for their business. It offers you multiple options to choose from and saves you the stress of negotiating with a single company for smaller interest rates. And all of this for free.
Top 5 Mortgage Refinance
