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  LightStream Personal Loans

LightStream Personal Loans

in Personal Loans from SunTrust Bank

Unaffiliated

LightStream Personal Loans

Unaffiliated

in Personal Loans from SunTrust Bank

SuperMoney Net Recommendation Score -3

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of -3, equating to 2.9 on a 5 point rating scale.

-3

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Mostly not recommended

28 users recommend
6 users are unsure
30 users don't recommend
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Highlights
Community Rating Mostly not recommended
APR  (Fixed APR) 3.99% - 19.99%
Loan Amount $5,000 - $100,000
Loan Term (Months) 24 - 144 months
Number of Reviews 64

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).

Key Takeaways
  • 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.
Lightstream loans Pros & Cons
Pros Cons
  • Low APRs available to qualified borrowers.
  • $0 prepayment fee.
  • $0 origination fee.
  • Considers applicants with fair credit.
  • Cosigners accepted.
  • Do not offer pre-approval with soft credit pull.
Lightstream loans FAQ

What interest rates and personal loan terms does Lightstream loans offer?

Lightstream loans has lower interest rates than the average for lenders reviewed on SuperMoney.

What interest rates does Lightstream loans offer?

Lightstream loans offers a fixed APR personal loan product that ranges from 3.99% APR up to 19.99% APR. Rate is quoted with autopay discount*.

How much can you borrow via Lightstream loans?

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

What is the maximum personal loan term you can get with Lightstream loans?

Lightstream loans offers loans with terms ranging from 24 to 144 months.

Lightstream loans Interest Rates & Loan Terms
Personal Loan Amount $5000 - $100000
Loan Term 24 - 144 months
APR 3.99% - 19.99%
Rate is quoted with autopay discount*

What fees does Lightstream loans charge?

Does Lightstream loans charge an origination fee?

Lightstream loans does not charge a personal loan origination fee.

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

Does Lightstream loans charge a late fee?

No, Lightstream loans will not charge you a late fee if you miss one of the monthly paymenbts.

Does Lightstream loans charge prepayment fees?

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

Lightstream loans Fees
Origination Fee N/A
Prepayment Fee? No
Late Payment Fee N/A

What do you need to qualify for LightStream Personal Loans?

Applicants with a credit score of at least 660 and up to 850 may be eligible for LightStream Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

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
Lightstream loans Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
  • Cosigners
  • Individual Applications
  • Credit Score 660 - 850

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

    Lightstream loans will typically approve (or deny) a loan application within 24 hours and fund 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.

    LightStream Personal Loans Disclosure: * Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay may be 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. Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66.
    SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
    Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

    Message From SunTrust Bank

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

    Message From Our Editor

    What We Love About LightStream Personal Loans

    LightStream is really confident about its rates and the fact that it provides some of the best in the industry. We love the Rate Beat Program, which guarantees that the company will beat any APR by 0.10 percentage points if people find a lower one elsewhere. This is handy to help you know that you’re getting the best rates around.

    The other thing that we love is that they can do this because they change the interest rates based on the intent or purpose of the loan. For example, they could offer a lower interest rate on an auto loan because the vehicle works as collateral, while they might require higher interest rates for an unsecured personal loan.

    What Could LightStream Do Better?

    LightStream offers lower rates on personal loans than several lenders, but these rates are only available to those who have excellent credit, substantial savings, and a good job-- it’s almost as if you end up in the typical bank Catch-22 of needing money to borrow money. Of course, this is just the nature of personal loans and other types of borrowed financing. The majority of users report getting better rates here than from other lending sources, regardless of their loan type.

    LightStream Backstory

    LightStream is a subsidiary of SunTrust Bank, one of the largest banks in the United States. This company was founded in 2004 as FirstAgain. In San Diego, Dave Zeller and Gary Miller started a small lending firm and sold it to SunTrust in 2012. This is the second project from Gary Miller, who also helped found PeopleFirst, bought by Capital One in 2001.

    The Verdict

    LightStream has great interest rates, hands down, for those who qualify. The application process is also quick and easy, with near-instant approval and same-day funding in some cases. That’s well worth the look.

    Availability

      Available in 50 states and Washington, D.C.
    • Alabama
    • Alaska
    • Arizona
    • Arkansas
    • California
    • Colorado
    • Connecticut
    • Delaware
    • Washington, DC
    • Florida
    • Georgia
    • Hawaii
    • Idaho
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Minnesota
    • Mississippi
    • Missouri
    • Montana
    • Nebraska
    • Nevada
    • New Hampshire
    • New Jersey
    • New Mexico
    • New York
    • North Carolina
    • North Dakota
    • Ohio
    • Oklahoma
    • Oregon
    • Pennsylvania
    • Rhode Island
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Vermont
    • Virginia
    • Washington
    • West Virginia
    • Wisconsin
    • Wyoming

    Feature Breakdown

    No Origination Fee
    No Prepayment Fee
    No Late Fees
    Checking Account Required
    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
    • Cosigner
    • Individual Applications
    Military Status
    • Active Duty Military
    • Non-Military
    • Veterans
    • Military Dependent
    Minimum Age 18
    Supported Income Types
    • Direct Deposit (W2, SSA, SSDI)
    • Cash
    • Payroll Check or Prepaid Card
    • 1099 Misc. Income
    Verification Documents Required
    • Recent Pay Stubs
    • Proof of Income
    • Driver License (or other photo ID)
    • Proof of citizenship/residence (Green Card)
    Credit Score Range 660 - 850
    Approval Speed 24 hours
    Credit Bureau Reporting
    • Experian
    • Equifax
    Customizable Payment Dates
    Funding Time Range 0 - 30 days
    Payment Options
    • Automatic Payments
    • Check by mail
    Loan Amount $5,000 - $100,000
    APR (Fixed APR) 3.99% - 19.99%
    Loan Term 24 - 144 months

    LightStream Personal Loans Community Reviews

     

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    SUPERMONEY NET RECOMMENDATION SCORE

    This product is mostly not recommended by SuperMoney users with a score of -3, equating to 2.9 on a 5 point rating scale.

    -3

    Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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