LendingTree

Lending Tree’s motto is, "When Banks Compete, You Win!" Founded in 1996 with the intent of empowering consumers through banks competing for your business, Lending Tree has more than 200 well-known lenders in their network, making them the leading online lending and realty services marketplace. As a convenient one-stop shop for personal finance and real-estate services, Lending Tree has brought together millions of consumers, enders and real-estate professionals.

For those consumers who want to eliminate their high-interest credit cards and other debt, utilizing the equity in your home for debt consolidation is a viable idea.  Lending Tree has equity programs that will free up cash for debt consolidation, and cost less per month than you are paying now, on your high interest debt. 

Consolidate your debt and lower your monthly payments now >>

Features and benefits of Lending Tree's programs include:

Home Equity Line of Credit (HELOC)

• Revolving credit line;
• Borrow up to 100% of the value of your home (less mortgage balance);
• Select lenders will allow you to borrow up to 125% of the value of your home;
• Need to provide proof of your income, home ownership, your mortgage and how much equity you have in your home;
• An appraisal is usually required;
• Interest-only payment option available;
• 10 to 20 year draw period, before principal repayment begins;
• Usually no closing costs;
• May have an annual fee;
• Access funds using provided checks or credit cards that are linked to your line;
• Interest rate is usually prime interest rate plus a margin (this can vary by lender);
• Interest may be tax-deductible (consult your tax advisor).

Home Equity Loan (HEL)

• Borrow a fixed amount of money;
• Receive funds in one lump sum;
• Borrow up to 100% of the equity in your home (less mortgage balance);
• Some lenders will allow you to borrow up to 125% of the value of your home;
• Need to provide proof of your income and home ownership, and proof that at least 20 percent of the value of your home is paid off;
• An appraisal is usually required;
• Fixed payments of interest and principal over a fixed period of time;
• The repayment term of the mortgage can be as short as a year or as long as 30 years;
• Closing costs that are lower than for a first mortgage;
• Fixed or adjustable interest-rate.option;
• Interest may be tax-deductible (consult your tax advisor).

Consolidate your debt and lower your monthly payments now >>