in Personal Loans from LightStream
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Where does LightStream do business?
LightStream is a bank based in Atlanta, GA. Founded in 2013, LightStream offers access to personal loans in 50 states (and Washington, DC).
What rates and terms does LightStream offer?
What personal loan APRs does LightStream offer?LightStream offers a fixed APR personal loan product that ranges from 5.34% APR up to 16.99% APR. Rate is quoted with autopay discount*.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
How much can you borrow via LightStream?
Loan amounts start at $5,000 and go up to $100,000.
What can a personal loan from LightStream be used for?
Personal loans from LightStream are typically used for special purchases, debt consolidation, home improvement projects, weddings, medical expenses & procedures or similar purposes.
What is the maximum loan term you can get with LightStream?
LightStream offers personal loans with terms ranging from 24 to 144 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.
|Loan Amount||$5000 - $100000|
|Loan Term||24 - 144 months|
|APR||5.34% - 16.99%|
What fees does LightStream charge?
Does LightStream charge an origination fee?
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.
|Late Payment Fee||N/A|
What do you need to qualify for a loan with LightStream?
Applicants with a credit score of at least 660 can apply for a loan via LightStream . The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.
LightStream will consider borrowers regardless of their employment status if they can prove their ability to repay the loan requested.
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
|Bank Account Required?||Yes|
|Joint Applications Accepted?||Yes|
|Credit Score||660 - 850|
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 within 30 business days of approval.
Does LightStream report loan payments to credit bureaus?
LightStream may report credit data to the following credit reporting agencies:
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|No Origination Fee|
|No Prepayment Fee|
|No Late Fees|
|Credit Score Range||
660 - 850
|Immigration Status Considered||
|Bank Account Required|
|Employment Statuses Considered||
|Supported Income Types||
|Joint Loan Applications Accepted||
|Verification Documents Required||
|Loan Amount||$5K - $100K|
|Loan Term (Months)||24 - 144|
|APR (Fixed APR)||5.34% - 16.99%|