Features

Where does LightStream do business?

LightStream is a bank based in San Diego, CA. It was founded in 2013 and offers access to personal loans in 50 states (and Washington, DC).

What range of rates does LightStream offer?

LightStream offers personal loans with APRs starting at 5.99% and up to 14.74%.

Does LightStream charge an origination fee?

No, LightStream does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees. 

Does LightStream charge a late fee?

No, LightStream will not charge you a late fee.

Does LightStream charge prepayment fees?

No, LightStream does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from LightStream?

Loan amounts start at $5,000 and go up to $100,000.

What is the maximum loan term you can get with LightStream?

LightStream offers personal loans with terms ranging from 24 to 84 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for a loan with LightStream?

Applicants with a credit score of at least 680 can apply for a loan via LightStream. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

Active duty servicemembers and their covered dependents are eligible to apply for a loan via LightStream. Their rates fall within the limits of The Military Lending Act.

Only U.S. citizens and permanent residents can apply for a loan.

To qualify, applicants may need to provide the following documentation:

  • Driver's license
  • Applicants must have an active and valid checking account
  • Proof of citizenship or residence permit
  • Recent pay stubs
  • Proof of income

What is the estimated funding time for a personal loan via LightStream?

LightStream will typically approve (or deny) a loan application within 24 hours and fund personal loans as soon as 1 business day of approval.

Does LightStream report loan payments to credit bureaus?

LightStream reports credit data to the following credit reporting agencies:

  • Equifax
  • Experian

How does LightStream describe itself?

We believe that consumers who have established good credit have earned the right to a simple loan process and excellent rates.

  • Institution Type
    Bank
  • Bank Account Required?
  • Credit Score Range
    680 - 850
  • Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Other
    • Retired
    • Self-Employed
    • Unemployed
  • Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
  • Joint Loan Applications Accepted
    Co-signer
  • Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
  • Minimum Age
    18
  • Minimum Annual Income
    $50000
  • Supported Income Types
    • 1099 Misc. Income
    • Cash / Other
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
  • Verification Documents Required?
    • Proof of Income
    • Recent Pay Stubs
    • Driver License (or other photo ID)
    • Proof of citizenship/residence
  • No Late Fees
  • No Origination Fee
  • No Prepayment Fee
  • Approval Speed (Hours)
    24
  • Credit Bureau Reporting
    • Equifax
    • Experian
  • Customizable Payment Dates
  • Funding Time Range (in days)
    1 - 7
  • Joint Loans Available
  • Payment Options
    • Automatic Payments
    • Check by mail
  • Loan Amount
    $5000 - $100000
  • Loan Term (Months)
    24 - 84
  • APR
    5.99% - 14.74%
Your APR may differ based on loan purpose, amount, term, and your credit profile. Rate is quoted with AutoPay discount, which is only available when you select AutoPay prior to loan funding. Rates under the invoicing option are 0.50% higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Extended loan terms (85-144 months) are only available for home improvement purposes, for loan amounts higher than $25K and for consumers with excellent credit. Payment example: Monthly payments for a $10,000 loan at 5.49% APR with a term of 3 years would result in 36 monthly payments of $301.91.
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