LightStream Personal Loans
  • No charges or fees.
  • Enjoy an interest rate reduction when you sign up for automatic payments.
  • Home improvement loans offer extended repayment terms.
  • Benefit from the Rate Beat program and Experience Guarantee.
  • The website does not offer a pre-qualification option.
  • A few years of established credit history are required.
  • Debt consolidation loans do not facilitate direct payments to creditors.
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LightStream personal loans review

LightStream provides an attractive option for personal loans, especially if you have a strong credit history. With competitive interest rates and a lack of fees, it's a borrower-friendly choice. One standout feature is the flexibility it offers in delivering your funds. You can have the money deposited into your account on the same day as approval or delay it for up to 30 days. This versatility allows you to plan for your initial payment or sync your loan with significant expenses like home improvement projects.

LightStream personal loans notable advantages:

  1. Low Rates and No Fees: LightStream provides competitive interest rates with no origination fees, late payment fees, or prepayment penalties. Borrowers who opt for autopay can further reduce their interest rates by 0.5%.
  2. Flexible Repayment Terms: LightStream offers a wide range of repayment terms, typically spanning from two to seven years for most loans. This flexibility allows borrowers to choose between shorter terms for lower overall interest costs or longer terms for more manageable monthly payments.
  3. Home Improvement Benefits: For borrowers with good or excellent credit planning home improvement projects, LightStream offers extended loan terms of up to 12 years. These extended terms make financing substantial home renovations, such as kitchen remodeling, solar panel installations, or pool additions, more affordable on a monthly basis. Additionally, LightStream can delay loan funding for up to 90 days, providing borrowers with extra time to coordinate their home improvements without incurring additional interest charges. No appraisals or home equity requirements are necessary for these extended terms.

These features make LightStream a compelling choice for borrowers with strong credit profiles looking for personal loans.

  1. Minimum credit score required: 660.
  2. APR (Annual Percentage Rate): Starts at 7.99% and goes up to 25.49%.
  3. Fees: None.
  4. Loan amount: Access loans ranging from $5,000 to $100,000.
  5. Repayment terms: Choose from 2 to 7 years, with the option of extending to 12 years for home improvement loans.
  6. Time to fund after approval: Expect your funds within 1 business day.
  7. Loan availability: Loans are accessible in all states and Washington, D.C.