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Opinions on Lending Tree?

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jjmtmj126
Established Member

Opinions on Lending Tree?

Just wondering if anyone has any opinions on Lending Tree?  Has anyone gotten a loan done with one of the Lending Tree lenders? 

 

I"m afraid that I'll be socked with a bunch of fees at closing, or be mislead into thinking we are approved when actually we aren't.  

 

We were referred to a broker who is telling us everything's good, he gave us a preapproval letter... but the Lending Tree reviews I've read have talked alot about big suprises towards teh end of the home buying process, when you feel stuck....

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2 REPLIES 2
Lel
Moderator Emeritus

Re: Opinions on Lending Tree?

It has been a while since I tried Lending Tree - probably about 4 or 5 years.  The details are a bit hazy right now, but I completed the initial application process and then started to be contacted by prospective lenders.  I spoke to reps for two companies, whose names I don't remember at this time, and they offered what were too-good-to-be-true terms.  When I actually received the paperwork from one company, the 30 year fixed rate loan that we had discussed was now a 2/1 ARM.  I didn't follow through with the other company.

 

Having said all that, a good friend of mine purchased her home using Lending Tree, and she was very happy with her experience.  She's the reason why I even took a look at it.  The bottom line is that as with any lender, it is important to look closely at the fine print.  Shop around with local lenders and loan officers as well.

Message 2 of 3
ripper998
New Contributor

Re: Opinions on Lending Tree?

Think of lending tree like orbitiz or or travelocity.  They will connect you with different companies for a fee in the end, but its your responsibility to educate yourself on who is a good lender or not.

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