Lightstream

7.8 Total Score
4 reviews
WalletStars

Our rating is based on a combination of expert staff and user ratings.

7.8Expert Score
Support
8
Affordability
8
Benefits
7
Application Process
8
8.2User's score
Support
7.3
Affordability
8.3
Benefits
7.5
Application Process
9.8
PROS
  • Suitable For A Wide Variety Of Borrowers
  • Can Finance Timeshare Vacation Properties
CONS
  • Must Have a Good Credit Score
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Average Score 7.8
PROS:
  • Suitable For A Wide Variety Of Borrowers
  • Can Finance Timeshare Vacation Properties
CONS:
  • Must Have a Good Credit Score

Introduction

APR 3.99% – 16.99% (With Autopay)
Loan Amount $5,000 – $100,000
Loan Duration 2 to 7 years, Up To 12 Years For Home Improvements

About
LightStream is the online consumer lending division of Sun Trust Bank. Sun Trust Bank is an American bank holding company headquartered in Atlanta, GA. LightStream uses technology to make the borrowing process an easy, almost paper-free experience. Customers can apply, be approved, sign the loan agreement and receive their funds, sometimes the same day of applying. LightStream provides a $100 guarantee that the loan experience will be the best ever. Loans can be used for a variety of expenses from major life events to education expenses.

Ideal Borrower
LightStream is great for busy people who don’t have a lot of time to go to a bank, or for anyone with an unexpected expense and needs cash quickly. If you need a longer-term loan, especially for home improvements, LightStream is a great choice. Of course, having a good credit score of 660 or higher will help you secure a loan. LightsStream loans are available to borrowers that aren’t high earners with no stated income requirements, and if you have other loans you may still qualify since no debt-to-income ratio is indicated.

Best For
Since LightStream approves borrowers for a multitude of uses, this loan is great for most borrowers and opens up a wealth of possibilities for people at a broad range of economic backgrounds. Upgrade your home and use Lightstream to fund your project, even if you don’t have equity in your home or would prefer not to use it. Walk into car buying with confidence by using the LightStream loan as a negotiating tool. Use your LightStream loan to finance your wedding ceremony or honeymoon, or to pay for your child’s education. Even a timeshare vacation property can be financed through LightStream.

How to Qualify
The basic requirement for qualifying for a LightStream loan is having a credit score of 660 or above. Being able to prove you are a good credit risk will boost your chances of securing the loan through proof of income, proof of assets and good payment history. Lightstream’s website makes it easy to specify what you are using the loan for and will give you an idea of what the interest rate on the loan could be.

Additional Fees
LightsStream loans have no origination fees. You also won’t be penalized for paying off your loan early, or for paying late.   

 


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