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Light Stream: Personal Loan Review

Updated: June 11, 2021

The basics

Estimated APR

2.49% - 19.99%

Min. Credit Score

680+

Max. DTI Debt to Income Ratio

-

Origination Fees

0%

Late Penalties

$0

Prepayment Fees

$0

Good for: Offers longest loan term, no fees

Our verdict

LightStream offers personal loans with no fees and low fixed rates. There's no option to prequalify, and you'll need a strong, lengthy credit history to be eligible for a loan.

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Beyond the basics

No fees

Autopay discount
Rate Beat program

Fast funding

Loan Amounts

$10,000 to $100,000

Loan Terms

24-144 months

Time to Funding

1 business day

Full review

Lender description LightStream is a national online consumer lending division of SunTrust Bank—which has merged with BB&T to form Truist—that gives customers the ability to focus on their purchase as opposed to their financing.

Best used for

  • Debt consolidation
  • Home improvement
  • Family life
  • Recreation
  • Auto loans

Pros & cons

  • No fees
  • Low starting interest rates
  • Fast approval and possible same-day funding
  • High loan amounts available
  • Offers joint application
  • No prepayment penalty
  • No prequalification option
  • Requires several years of credit history
  • High minimum loan amount

Most suitable for

  • Consumers with a lengthy and good credit history
  • Consumers looking to borrow larger amounts
  • Consumers relying on a joint applicant

How to qualify LightStream requires “good credit,” which is loosely defined as having several years of credit history with a variety of account types and few to no delinquencies. LightStream may favor applicants with stable income and high savings.

How to apply Apply online by providing your loan information, personal information, and security information. Then accept and e-sign your loan agreement, and receive funding as early as the day you're approved.

COVID-19 resources LightStream has a coronavirus response page that includes information on payment deferrals for those experiencing financial hardship because of COVID-19.

Footprint LightStream is available nationwide.

Loan example Monthly payments for a $10,000 loan at 3.49% APR with a term of three years would result in 36 monthly payments of $292.98.