LendingTree personal loans are an alternative to get quick money. It is no secret to anyone that there are pages that make loans and Lendingtree is no exception, you can apply for personal loans and financing, the money will be transferred to your credit card, but you must pay off the debt within a certain time.
How to apply for personal loans at LendingTree?
To apply for a LendingTree personal loan you must make a standard application that varies according to credit. To request a loan, you must take into account the following aspects:
- Select the purpose of the loan.
- Enter the amount you need. The platform offers between $1,000 to $50,000.
- Type of employment (institution where you work and/or what position you hold) and salary.
- Address and type of property where you reside.
- Identity identification.
Next, the system will show you a form with the following data:
- APR
- loan amount
- Estimated monthly payment
- Time that you can finish paying the debt
Requirements to obtain a loan at Lendingtree?
The requirements to obtain a loan at Lendingtree are the following:
- Have proof of income.
- Retirement certification and the last checkbook.
- Identification document
- Valid bills for electricity, water and telephone.
- Application for a credit card and bank form.
What are the interest rates and payment terms at Lendingtree?
The interest charged by lenders depends on the amount requested, that is, If the loan is for $40,000, the client must pay 6.99%, if it is $45,000, he would pay 8.01%, but if the financing is for $50,000, he must pay 35.99% of the interest.
The debt payment term is every 30 days, that is, each month you must pay 0.30% or 1.30% of the loan that you have requested and delivered to your bank account.
Can I request an urgent loan and how long will it take to be approved?
This platform does not deliver money immediately, for this you will have to wait days or weeks for them to accept your request and make the shipment. They must review your information data, if you meet the requirements one of the administrators will contact you any day of the week.
It is allowed that a foreigner can request a loan on this platform, however, the social security is taken into account and if you do not have it then your request will not be accepted since Lendingtree will necessarily require the social security number.
Advantages and disadvantages of applying for a loan at Lendingtree?
Pro:
- secure financing: You can get rid of debts or invest in a business.
- Adapted to your need: The lender values your economic situation, so you should charge a low percentage for each month until you complete the payment.
- Projected Payments: The bank will not be affected as to how much payment.
- Debt Knowledge: The page allows you to know the total debt with interest that you must pay during the months that you must pay off.
Cons:
- commissions: There is a probability that payment interest rates will increase during the time of debt payment.
- long term debt: If you request a loan, you must take into account that you are entering into a debt that you will have to pay for months until it is finished.
- Formalities: You must have all the data to obtain the application, in case they are incomplete you will not be able to receive the loan you want.
To conclude, Lendingtree helps the client to choose the loan offers that will be favorable for the expenses that he needs to make. This plan has worked for years and has given good results.
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