LendingTree adds home valuation tool

The new tool will track home value data trends and estimate home equity through existing mortgage balances

LendingTree adds home valuation tool
LendingTree is adding a home valuation tool to its financial intelligence platform My LendingTree, which has more than five million users to date, according to a news release.

The home valuation tool will access and track third-party data to see the user’s home value data trends over time; make use of available mortgage balance data to estimate the user’s home equity; and alert users on available home equity.

Users of My LendingTree with an existing mortgage balance reportedly have an average home value of $310,000 and average mortgage balance of $178,000, which translates to about an average of $132,000 of untapped home equity.

"We're continuing to evolve the My LendingTree platform to bring consumers valuable information they need to make smarter financial decisions," said Nikul Patel, chief product and strategy officer at LendingTree. "Our home valuation feature allows borrowers to see an estimate of their home value and untapped equity that can be accessed for home improvement projects, debt consolidation, education costs and more."

Launched in 2014, My LendingTree enables its users to monitor their credit health, save their finances on existing loans, provide free credit scores and display information on financial accounts and loans such as credit cards, mortgages and student loans.


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