LightStream Review (2024)
This LightStream review covers personal loans ranging from $5,000 to $100,000. Loan applications can be fast with funding available as soon as the same day. However, you’ll need a good or excellent credit rating and several years of credit history to qualify. Learn more in our LightStream streaming reviews.
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Joel Ohman
Founder, CFP®
Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florida. ...
Founder, CFP®
UPDATED: Oct 4, 2022
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Our LightStream review will answer if the platform is a worthy personal loan option for you to apply for.
LightStream is the online lending arm of Truist Bank, but what kind of personal loan is best for your situation? Options vary for many different situations and by lender.
Before you read LightStream reviews, find affordable personal loan rates from lenders near you with our free comparison tool. Enter your ZIP code above to get started.
LightStream Review Highlights
- Loan amounts from $5,000-$100,000
- APR from 5.95% – 19.99%
- Can be fast approval and funding
- No fees
LightStream offers high amounts for borrowing and low rates on its unsecured personal loans. It’s a top lending option for borrowers with a good to excellent credit history over several years and a FICO score of over 690.
What’s a FICO score? It is a particular brand of credit score. Consumer Finance explains what a FICO score is in detail.
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What are the limits on a LightStream personal loan?
Loan terms range from two to seven years depending on loan amounts, but you will not get approved for a loan for any of the following:
- College or other post-secondary education expenses, including refinancing existing student loans
- Refinancing existing LightStream loans
- Funding a business,
- Funding a cash-out refinance,
- Purchasing stocks, bond, or stock options or repay a loan against a stock option,
- Contributing to retirement, life insurance, or education savings programs
There are many opportunities available to you with a personal loan through LightStream, but another lender may suit your needs better. Shop around and read our and more LightStream reviews from BBB and A.M. Best before you buy personal loan plans.
How does LightStream compare to the competition?
LightStream will beat a competitor’s rates by 0.1% with proof of approval for the same type of fixed-rate loan for the same amount, term, purpose, and payment method.
LightStream also operates a different kind of loan process where applicants don’t need to pre-qualify. Rather, LightStream is open to what borrowers require. And if you’re not satisfied with the loan process, LightStream will give you $100.
Like most lenders, LightStream considers your credit score and credit history including payment record, the desired loan amount, purpose, and repayment terms. LightStream also considers what assets you have available already. Learn what you need to know before taking out a loan before you apply.
Now that you’ve finished our LightStream review, compare your options before you buy personal loan plans. Start by entering your ZIP code into our free comparison tool today.