LightStream Review: Personal Loans 2020

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LightStream ReviewLightStream offers unsecured personal loans of up to $100,000 to borrowers with good credit. They have some of the lowest rates we’ve seen, assuming your credit and history are good enough to qualify. Read the LightStream review to see if you should apply with them for your next loan.

LightStream Quick Info

APR Range2.19% - 17.54%
Loan Amounts$5,000 - $100,000
Origination FeeNone
Loan Duration2 - 7 years
Time to FundPotentially same day
Soft Credit Check?Yes

Who Is the Typical LightStream Borrower?

  • They have a nice credit score. The minimum is 680 but most borrowers have a score above 700.
  • They have an established and varied credit history. Borrowers have several years or more of credit history with several types of accounts like a mortgage, credit card, or auto loan.
  • Saving money is a priority. Being able to show some form savings like stocks, bonds or a retirement account can help get a loan approved.
  • They want to bring a co-signer. LightStream allows for a qualified individual to co-sign for someone that would not normally qualify.

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LightStream Review

LightStream is a branch of SunTrust Bank, which is the financial company you’ll actually be getting your loan from. They are one of the older online lenders, dating a back to 2005. In 2012 they were bought by SunTrust and they became known as LightStream.

While Lightstream definitely caters to the upper end of the market they do have some flexibility. For their no collateral loans you’re going to need to have a good credit score, a solid credit history and potentially proof of the ability to save money. But if you are unable to qualify you can apply with a co-signer that can vouch for you. They’ll need to qualify themselves and you’ll still need to meet a lower set of requirements.

If you are unable to qualify or unable to bring a co-signer they do offer secured personal loans for a number of purposes. These are less risky for LightStream since they have something they can get from you if you do default.

Overall LightStream has a good deal of options to get you a loan. Their rates are very competitive, especially if you’re able to qualify on your own good merit.

LightStream Reviews From Around the Web

Better Business BureauNot Rated
Credit Karma4.5 out of 5 stars 4.5/5 - 51 Reviews
Nerd Wallet4 out of 5 stars 4/5

LightStream Fees and Penalties

  • Origination fee: None
  • Prepayment fee: None
  • Late fee: None

Business Contact and Profile for LightStream

Phone:(866) 505-8362
Address:350 Tenth Ave #1400
San Diego, CA 92101
Business Started:2010
Type of Business:Financials Services, Loans
Principal:Mr. Gary Miller, CEO
BBB Accreditation:This business is not accredited with the BBB and is not rated.

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