مراجعة القروض الشخصية LightStream
مراجعة القروض الشخصية LightStream
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Below is a breakdown of some of the pros and cons of LightStream personal loans.

Advantage

  • Bad review
  • No charge
  • Fast approval and financing

Disadvantage

  • The minimum loan amount is a bit high
  • Requires a longer credit history

LightStream is an online lender focused on fast application process, fast financing and low APR. Because it offers a relatively wide range of loan amounts and repayment terms, it’s a good thing for borrowers who have a lot of debt to consolidate or need to take on expensive home improvement projects.

LightStream snapshots

  • Loan Amount $5,000 to $100,000
  • APR 5.73% to 19.99% (automatic payment)
  • Minimum credit rating 660
  • Payment time on the day.

Pros and Cons of LightStream Personal Loans

LightStream is a great option for many borrowers, but it’s not for everyone. Below are some of the main advantages and disadvantages of LightStream personal loans.

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Advantage

  • Low interest rates: LightStream currently has a minimum APR of 5.73%. This can make LightStream a very affordable financing option for borrowers with good credit ratings.
  • No Fees: LightStream doesn’t charge any fees, not even deployment fees.
  • Fast Approvals and Funding: Borrowers can receive funding the same day they apply to LightStream, which is ideal for time-sensitive needs.

Disadvantage

  • The minimum loan amount is a bit high: While many personal lenders allow you as little as $1,000, LightStream has a minimum loan amount of $5,000. For some borrowers, that may be too much.
  • Longer credit history required: LightStream borrowers must have years of credit history and have multiple account types, so this is not a good option for borrowers who are just starting out on credit.

Lending terms

LightStream’s loan amounts range from $5,000 to $100,000, with fixed APRs ranging from 5.73% to 19.99%, and an autopay rebate of 0.5%.

Many LightStream personal loans have terms of 2 to 7 years, but home improvement, pool and solar loans have terms up to 12 years.

If you can find a better APR from another lender, and if you can show that you have a competitor offering the same type of fixed-rate loan for the same amount, the same term, the same purpose, and the same payment method, LightStream will outperform that rate 0.1 percentage points higher than the approved method.

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Personal loans from LightStream can be used for almost any purpose, including debt consolidation and adoption financing. However, it has some limitations. You cannot use LightStream personal loans for:

  • Funding college or post-secondary education, although you can use LightStream loans to pay for preschool and K-12 expenses.
  • Refinance a previous college or higher education loan.
  • Refinance an existing LightStream loan.
  • Finance company.
  • Provides funds to pay for refinancing.
  • Buy stocks, bonds or stock options, or repay a loan for stock options.
  • Contribute to retirement, life insurance or education savings plans.

How to apply for a loan with LightStream

When evaluating your loan application, LightStream considers the following factors:

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  • Credit history.
  • Required loan amount.
  • Requested loan purpose.
  • Term (2 to 12 years, depending on loan amount and purpose).
  • Available assets.
  • Payment records for all loans and credit cards.

The LightStream application process is quick and easy. Here are the details you need to provide:

  • Loan purpose, amount and term.
  • Payment method.
  • Personal Information (including your address, phone number, email address, and Social Security number).
  • Employment Information.
  • Current monthly housing payments, such as rent or mortgage payments.
  • Income and balances from current and savings accounts.
  • Stocks, bonds and vested interests.

After submitting a credit application, LightStream will review it, perform a credit check, and email you the status of the application. If approved, you can sign your loan agreement and set up your funding dates and payment information online.

Once you are approved, the lender will deposit the funds into your account. If your application is reviewed and approved by 2:30pm, this may have occurred on the day you applied. ET within one business day.

Customer Service Representatives are available Monday through Friday from 9:00 am to 8:00 pm. ET and Saturday from 12pm to 4pm ET. LightStream’s website does not provide phone numbers, but you can email your questions and a representative will respond during business hours.

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