LightStream Personal Loans Review

LightStream Personal Loans is offered by SunTrust Bank, a bank founded in 1865 and based in Atlanta, GA. LightStream Personal Loans is available in 50 states (and Washington, DC).

• APRs starting at 3.99%. Rate is quoted with autopay discount*. Personal loan interest rates typically range between 5% and 36%. The starting rates for LightStream Personal Loans are on the lower end of the spectrum.
• Same day funding available. In some cases you may be able to access your money the same day you apply.
• Large loan amounts. You can apply for loan amounts of up to $100,000 with LightStream Personal Loans.
• Hard credit pull required. You can't check your rates or see if you prequalify for LightStream Personal Loans without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
• No origination fee. LightStream Personal Loans does not charge a loan origination fee.
• No late fees. Missing a payment can seriously damage your credit, but LightStream Personal Loans will not charge additional fees if you miss the due date on a payment.
• Cosigner applications accepted. Applying for LightStream Personal Loans with a cosigner can improve your chances of approval and help you qualify for lower interest rates.
• Super long loan terms. LightStream Personal Loans offers loan terms of up to 144 months. Most personal loans have a maximum term of 60 months.

What rates and terms does LightStream Personal Loans offer?

LightStream Personal Loans has lower interest rates than the average for lenders reviewed on SuperMoney.

What fees does LightStream Personal Loans charge?

What do you need to qualify for LightStream Personal Loans?

LightStream Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. LightStream Personal Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via LightStream Personal Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by LightStream Personal Loans. Permanent resident / green card holders are also eligible to apply.

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

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

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

LightStream Personal Loans will typically approve (or deny) a loan application within 24 hours and fund personal loans within 30 business days of approval.

Does LightStream Personal Loans report your account activity to credit bureaus?

Yes, LightStream Personal Loans reports your account activity to the following credit reporting agencies:

• Equifax
• Experian

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.