Discover the LightStream personal loan

LightStream is a prominent online consumer lender in the United States, specializing in providing personal loans. Operating as a subsidiary of Truist Financial Corporation, LightStream is designed to serve customers with good to excellent credit profiles. The institution prides itself on offering a streamlined loan process, facilitated through its user-friendly website and mobile app. With a focus on exceptional service and competitive rates, LightStream aims to redefine the lending experience by making it fast, simple, and highly customer-centric.

About Truist Financial Corporation

Truist Financial Company is a holding firm for banks based in the USA. It was created in December 2019 as a result of the union of SunTrust Banks and BB&T (Branch Banking and Trust Company). The merger created the sixth-largest U.S. commercial bank by assets. Truist offers a wide range of financial services, including retail and commercial banking, investments, and insurance.

Contact LightStream

You can contact LightStream by email at [email protected] if you have any inquiries or suggestions.

• Monday / Friday | 9:30 a.m. to 7:00 p.m.
• Saturday, 12:00 p.m. to 4:00 p.m. Eastern time.

About the loans

Here are some important informations:

• Parent Company: Truist
• Service Type: Online Consumer Lending
• Loan Amount Range: $5,000 to $100,000
• Unique Features: Loans for a wide range of purposes, no fees or charges, no penalties for early payment
• Customer Experience: Funds directly deposited into account, same-day application and funding possible
• Guarantee: $100 guarantee for best loan experience
• Rate Beat Program: Will offer a rate 0.10 percentage points lower than any competing lender’s unsecured loan
• Loan Experience Guarantee: $100 payment if not completely satisfied with loan experience
• Environmental Initiatives: Plants a tree for every loan funded, in partnership with American Forests
• Affiliate Program: Available
• Loan Purposes: Car, Home Improvement, Pool, Timeshare, Boat, Aircraft, Medical, Education, and almost anything else

Rates and fees

The financing rates offered by LightStream are consistent. If you go to the Rates/Terms page on LightStream website and select your loan purpose, loan amount, and loan term, you will be able to find out the interest rate range that you are eligible for. Your credit profile will be used to establish your actual rate of interest.

Applicants whose credit scores are deemed to be excellent enough by LightStream will be offered the most competitive rate. If you would like to be billed for the purchase, there will be a 0.50% point increase in the interest rate. LightStream does not impose any of the following fees, in contrast to many other personal loan providers:

• Initiation costs
• Late charges
• Penalties for early payment

Prerequisites

LightStream only accepts good-to-excellent credit. Beyond a person's FICO® score, they will check the applicant full credit background. A good-to-excellent FICO score is required for review. However, applicants
with excellent FICO scores may not necessarily be authorized as standard, but each application will be deeply scrutinized. Due to the uniqueness of each credit profile, LightStream believes there is no standard definition for "good credit". LightStream also believes that people with good credit have these traits:

• Multiple years of credit history with significant credit cards, installment loans, vehicle loans, and
  mortgage debt if applicable.
• Ability to save, as shown by retirement/investment accounts and liquid assets like checking and
  savings accounts.
• Stable income and assets to repay current debt and any LightStream loan.
• A strong payment history with low delinquencies or other debt repayment issues.

Finally, each individual profile is distinct, and LightStream base its credit determination on their current reports. Good credit is determined by whether they believe their loan will be returned in full and on
schedule.

Step by step to take out a loan

The operation is as simple as the three steps, as follows:

1. You can apply online. You can expect a response within a short period of time (within business hours).
2. Accept the terms of the loan agreement. After you have been given permission, you can e-sign your loan agreement and then prepare your loan for funding.
3. That wraps it up! Make use of the loan. You might potentially get your money as soon as today!

Your application form will include the following:

• Purpose, amount, and length of loan
• Contact and personal information
• Payment plan
• Evidence of income
• Information about verified bank accounts
• Providing evidence of your legal address, for instance a driver’s license
• Information about employment
• Current costs, including housing payments each month

Benefits of LightStream – Personal Loans

LightStream provides numerous chances for discounts and savings to its customers. First off, there will be no origination fee. Getting ahead on your loan payments will also never result in a prepayment penalty. Additionally, it has a Rate Beat Program that will outperform any rival lender's unsecured personal loan rate by up to 0.10 percentage points. In addition, you can enroll in autopay to get a 0.50% APR savings if you decide to proceed with a loan acceptance.

Loan History Guarantee

Unsatisfied borrowers of personal loans might benefit from a 30-day Loan Experience Guarantee. This implies that if for any reason you're not happy with your LightStream lending experience, you can contact the lender and answer certain questions to help it get better. Customers will receive $100 for each funded loan if they fill out and submit a questionnaire.

Numerous possibilities for loan terms

LightStream offers a range of payback plans to fit your requirements and monthly spending limit. The length of your personal loan could range from two years to twelve years, depending on its purpose and other eligibility requirements.

Pros and cons of LightStream – Personal Loans

Pros:

1. There are no upfront fees, nor are there any prepayment penalties.
2. The terms of the repayment are flexible.
3. Guarantee for the Rate Beat Program.

Cons:

1. There is no option for preapproval.
2. Uncertain requirements regarding income and debt.
3. There will be no payments made directly to creditors.

Customer service

The LightStream website has over 26,000 reviews with a 4.9 rating. Reviewers have borrowed from LightStream multiple times and had excellent experiences. The rapid direct deposit and online applications and approval process were well received.

Why choose a LightStream loan?

LightStream offers countrywide unsecured personal loans to good-to-excellent credit consumers online. LightStream offers cheap personal loan rates, flexible terms, and no fees. You can borrow $5,000 to $100,000 with 24 to 144-month repayment terms, depending on your purpose. To get a LightStream personal loan, you need strong credit and financial accountability. If your credit score is low-to-fair, then LightStream might not be the right option for you. Having said so, If you meet the conditions, we believe that LightStream's fast funding, low fees, and flexible terms make it a good personal loan option you should consider.

FAQ

Are LightStream loans secured?

LightStream is a commercial lender that provides unsecured personal loans for a variety of borrowers and
purposes.

Can you have 2 LightStream loans?

You can have several LightStream loans. LightStream requires you to be 18 years old, have adequate
income to pay for the loan, and have a credit score of 660+ to acquire another personal loan.

What other types of loans does the LightStream offer?

Automobiles, home improvements, swimming pools, timeshares, boats, aircraft, and nearly anything else