Dollar Loan Tree: Leads For Sale?

LendingTree is a pioneer in the mortgage lead acquisition platforms market, offering a comparison shopping experience for home mortgage loans since 1998. LendingTree provides a questionnaire to acquire leads, which it then sells to multiple lenders. While LendingTree does not publicly disclose the cost per lead, sources indicate that the price can vary depending on the lead type and criteria, ranging from $25 to $250 per lead. The platform also offers a free MyLendingTree account, where users can access their credit score and receive personalized loan offers.

LendingTree's lead acquisition model

LendingTree is a lead-generation organisation, or "metamediary", that connects lenders with borrowers. The company has proven that consumers are interested in shopping online for loans, and lenders are willing to pay for those leads. LendingTree receives referral fees for each closed loan on its website and a percentage of the agent's commission from each closed home purchase or sale. It also receives a small lead-generation fee from its lender partners each time they receive a loan application generated by the LendingTree website.

LendingTree's ad team works to attract high-intent customers, and its ads correspond with the ad content for a seamless experience. Users fill out a qualification form, after which they can receive up to five loan offers and are directed to sign up for a free MyLendingTree account to get their credit score and personalised offers. Follow-up emails prompt users to review their offers and make a decision quickly.

LendingTree features a range of purchase offerings, including conforming prime, jumbo, FHA, VA, low loan amounts, non-prime, and mobile and modular housing available by state. Lenders can target specific customer segments through flexible filter attributes. On average, LendingTree home purchase customers have credit scores exceeding 720 and seek loan amounts over $200,000.

The cost of leads on LendingTree varies, with some sources indicating a range of $30 to $50 per lead, while others mention amounts of $250 or $150 per lead. The price depends on the lead type and criteria, and lenders typically try to limit the lead cost to around $25 per lead.

Cost per lead

CPL is an important metric for marketers and business owners as it delivers insights into the effectiveness of advertising strategies and helps locate areas for improvement. It is also a useful metric for sales teams to understand how well their marketing spend is translated into sales.

The cost per lead can vary depending on the marketing channel used to generate leads. For example, leads generated through attending trade shows may cost more than leads caught through email marketing campaigns. CPL can also vary depending on factors such as industry, company size, annual revenue, marketing budget, and the cost of the product or service being offered.

Some companies that offer lead generation services include LendingTree and Bankrate. LendingTree offers a platform for lenders to connect with potential borrowers and provides analytics to help make solid lead buying decisions. Bankrate offers rate table leads with a price point of around $250 per lead.

LendingTree's Loan Explorer

Loan Explorer provides a unique real-time rate marketplace, leveraging multiple channels such as clicks, date leads, and calls to deliver top-quality consumers to lenders. This improves conversion rates and expands the reach of lender partners. Lenders can showcase their brand, logo, products, services, rates, and fees relevant to the consumer's requirements.

For consumers, Loan Explorer offers a seamless and informative mortgage shopping experience. They can compare loan offers side by side in real time, ensuring they make well-informed decisions. After comparing, consumers can connect with lenders that match their needs through the contact information provided.

LendingTree, as a company, acts as a middleman, bringing lenders and consumers together. They provide an online marketplace and tools to help consumers find the best loan for their needs. LendingTree has facilitated over 30 million loan requests and $214 billion in closed loan transactions.

LendingTree also offers a free service called MyLendingTree, which helps consumers simplify the loan selection process. It provides personalized offers and credit scores, allowing users to make quick decisions. LendingTree generates revenue by being compensated by companies featured on its site, and this compensation may impact how and where offers appear.

LendingTree's MyLendingTree service

LendingTree is a marketplace that helps users find the best loans for them. It does not make loans but helps users find them by matching borrowers with lenders. LendingTree does not charge any fees for its services and neither do the lenders that it matches users with. LendingTree also does not ask for any upfront fees to "guarantee" or "insure" a loan.

LendingTree also has a feature called Loan Explorer, which helps lenders find the highest-intent mortgage consumers. It leverages a unique real-time rate marketplace to deliver top-quality consumers. It gives lenders the ability to increase their reach using multiple channels, including clicks, date leads, and calls.

LendingTree is compensated by companies on its site and this compensation may impact how and where offers appear. It does not include all lenders, savings products, or loan options available in the marketplace.

LendingTree's lead questionnaire form

LendingTree is a lead generation site that connects lenders with prospective borrowers. The LendingTree lead questionnaire form is a crucial aspect of this process, as it helps gather information from borrowers to match them with relevant lenders. Here is an overview of the LendingTree lead questionnaire form and how it works:

LendingTree Lead Questionnaire Form:

The LendingTree lead questionnaire form is designed to collect detailed information from individuals seeking loans. This form is typically the first step for borrowers using the LendingTree platform. It covers various topics, including:

• Loan Request: The form asks borrowers about the type of loan they are seeking, such as a mortgage, personal loan, or business loan. Borrowers specify the loan amount, loan term, and their preferred interest rate or rate/point combination.
• Property Information: For loans related to real estate, such as mortgages, the questionnaire will include questions about the property. This covers details like the type of property (house, apartment, etc.), location (address, city, state, zip code), and whether there are any existing mortgages or loans on the property.
• Personal Finances: LendingTree's form also delves into the borrower's financial situation. This includes questions about their income, employment status, existing debts or loans, and their credit score or credit history.
• Contact Information: To facilitate connections between borrowers and lenders, the form collects contact details such as name, email address, phone number, and residential address.

The Lead Generation Process:

• Form Completion: Prospective borrowers fill out the LendingTree questionnaire, providing detailed information about their loan needs and financial situation.
• Lead Distribution: LendingTree then sells these leads to lenders, who are interested in this information to identify potential customers. Lenders purchase leads based on their criteria and target customer segments.
• Offer Preparation: Upon purchasing leads, lenders review the information provided and prepare loan offers tailored to the borrower's requests.
• Lender Connections: Borrowers start receiving loan offers from interested lenders, often within seconds of completing the form. They can receive multiple offers and make comparisons.
• MyLendingTree Account: LendingTree encourages borrowers to sign up for a free MyLendingTree account. This account provides borrowers with their credit score and personalized loan offers, simplifying the loan selection process.
• Follow-up Emails: Lenders send follow-up emails to borrowers, prompting them to review the offers and make a decision promptly.

Cost of Leads:

The cost of leads on LendingTree varies. While some sources mention a range of \$30 to \$50 per lead, others indicate a minimum spend of \$10,000, with leads being split between multiple lenders. The cost depends on the lead type and criteria, and lenders may set monthly budgets for purchasing leads.

Frequently asked questions