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LendingTree.com Adds Eleven New Loan Calculators to Its Smart Borrower Center

Monday, May 7, 2007 - 04:30

CHARLOTTE, N.C., May 7, 2007 – LendingTree.com today introduced eleven new-and-improved home loan calculators to its Smart Borrower Center at www.lendingtree.com/smartborrower/calculators.aspx. The calculators, which were custom developed by LendingTree loan and technology experts, cover all areas of home lending from loan product comparisons to ARM payments, and loan consolidation to refinancing.

“Loan calculators have grown in popularity over the past several years, but a lot of what’s out there is hard to understand and even harder to use,” said Bridget Smith, the LendingTree Smart Borrower Center editor-in-chief. “We set out to develop a line of top-notch loan calculators that would make it easier, faster and more intuitive for borrowers to get the financial information they need.”

The LendingTree Smart Borrower Center calculators outperform other offerings in terms of ease of use, transparency of assumptions, and flexibility to customize.

  • Usability: Each calculator interface is clear and easy to understand, and eliminates baffling industry jargon that leaves many borrowers confused.
  • Clarity: Each calculator field has a specific tip associated with it that explains the information that’s required. Users simply hover their mice over the tip for deeper guidance.
  • Transparency: Assumptions for each calculator are provided at the bottom of each calculator page, providing transparency into how the calculation was made. For example, the Home Affordability Calculator uses an assumption of a 36% debt-to-income ratio.
  • Flexibility: Each calculator is designed to offer users a unique view of their personal financial situation. Although base assumptions can not be adjusted, each calculator provides a user the flexibility to customize the personal data they enter. This allows a user to test drive various scenarios
  • Speed: Each calculator loads and calculates quickly.
  • The new calculators help answer typical questions that borrowers ask when they’re considering a loan, such as “How much home can I afford?”, “What type of mortgage makes sense for my circumstances?”, or “Should I refinance my ARM?” just to name a few.

  • Loan Comparison Calculator Lets you compare different types of mortgages and determine which loan is right for you.
  • Home Affordability Calculator Helps determine what price home you can afford.
  • Rent or buy? Evaluates whether it makes sense to rent or buy a home.
  • Discount Points Calculator Helps determine whether it makes sense to pay points upfront when taking out a mortgage.
  • ARM Payment Calculator Helps determine the amount of your adjustable rate mortgage (ARM) payments.
  • Loan Payment Calculator Gives visibility into the amount of your monthly payment for a loan or line of credit. Use this calculator for any type of loan, including a mortgage, car loan, home equity loan, or home equity line of credit (HELOC).
  • Loan Consolidation Calculator Helps you understand whether you can lower your monthly payments by consolidating your loans.
  • Home Equity Calculator Determines if/how much equity you have in your home to borrow against.
  • Line of Credit Calculator Helps you understand what your minimum monthly payments would be for a HELOC.
  • Refinance Calculator Helps you determine whether or not you will save money by refinancing your mortgage.
  • Cash-out Refinance vs. Home Equity Calculator - If you need to access cash from your home's equity, this calculator compares the benefits of cash-out refinancing vs. home equity loans.
  • About LendingTree, LLC

    LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and $152 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via www.lendingtree.com and 800-555-TREE.

     

    Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC also owns and operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, and HomeLoanCenter.com. LendingTree, LLC is an operating company of IAC (NASDAQ: IACI).

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