If you’ve been thinking about taking out a personal loan and have a track record of financial responsibility, LightStream is a lender worth considering.
The online lending division of SunTrust Bank, LightStream says it offers “exceptional rates and superior service” on loans of up to $100,000 to borrowers who can demonstrate that they have a stable income and several years of credit history. Read on to find out more about personal loans offered by LightStream.
LightStream personal loans overview
Depending on the interest rate you qualify for, personal loans can be an affordable way to finance a major purchase, take care of an unexpected bill, or pay off existing high-interest debt like credit cards.
If you decide to take out a personal loan with LightStream, here’s what you should know:
| Types of rates (APR) | Fixed |
| Loan size | $5,000 to $100,000 |
| Loan terms | 2 to 12 years for home improvement loans or 2 to 7 years for all other loan purposes |
| Prepayment penalty | None |
| Loan use | - You are required to use your loan for the use you selected in your loan application - Can't be used to fund another LightStream loan - Can't be used for education funding |
| Key benefits | - 0.50% autopay discount (only available prior to loan funding) - $100 rebate if you’re not completely satisfied with the LightStream experience and if you fill out a questionnaire telling LightStream how they can improve their services |
| Residency | Must reside in the U.S. |
| Loan servicer | LightStream |
| Loan originator | Contact lender for more information |
How to take out a personal loan with LightStream
LightStream accepts applications online and provides quick turnaround during business hours. If you’re approved and e-sign your loan agreement before 2:30 p.m., your funds can be wired to your bank account the same day.
With its high loan limits and efficient online application process, LightStream can be a good choice for many borrowers. When taking out a personal loan, it’s always a good idea to request rates from multiple lenders to find the loan that’s right for you. Remember that every lender uses its own criteria for evaluating borrowers, and deciding what rates and terms to offer them.
Credible’s integrations with credit bureaus and lenders mean you can fill out a single form in 2 minutes and request prequalified rates from multiple lenders who offer personal loans, including LightStream.
The company above is one of Credible’s approved partner lenders. Because they compete for your business through Credible, you can request prequalified rates from them by filling out a single form. Then, you can compare your available options side-by-side. Requesting prequalified rates is free and doesn’t affect your credit score. Credible receives compensation if you close a loan with one of our partner lenders. The rates you receive and the fees you pay (if any) are not impacted by this compensation.
