LENDING TREE
OVERVIEW
LendingTree was founded in 1998 with the aim of simplifying the loan process by allowing consumers to receive multiple loan offers by filling out just one form online. It targets primarily individuals and families looking to secure financing options such as mortgages, refinancing, and home equity loans. LendingTree caters to those who wish to compare various financial offers conveniently and quickly, helping them make informed decisions based on competitive offers from different lenders. This platform is particularly beneficial for prospective homeowners seeking the best mortgage rates and terms that suit their financial situation and goals. The service provided by LendingTree is essentially free for consumers. LendingTree makes money by charging lenders to compete on their platform, which can lead to better deals for users. Although there are no direct costs for using LendingTree to search for loan offers, users should be aware that once they choose a lender, there will be typical fees associated with procuring a mortgage such as closing costs, origination fees, and possibly others depending on the lender they select. These fees vary significantly depending on the lender, loan type, and borrower's creditworthiness.
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