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LightStream Personal Loans Review: Leading the Pack on Several Fronts

Review Updated
Dana George
Author: Dana George
Dana George
Dana George
Writer

Dana George has a BA in Management and Organization Development from Spring Arbor University. For more than 25 years, she has written and reported on business and finance, and she's still passionate about her work. Dana and her husband recently moved to Champaign, Illinois, home of the Fighting Illini. And though she finds the color orange unflattering on most people, she thinks they'll enjoy Champaign tremendously.

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Matt Frankel, CFP®
Reviewer: Matt Frankel, CFP®
Matt Frankel, CFP®
Matt Frankel, CFP®
Writer, Analyst

Matt is a Certified Financial Planner™ and investment advisor based in Columbia, South Carolina. He writes personal finance and investment advice for Motley Fool Money and its parent company The Motley Fool, with more than 4,500 published articles and a 2017 SABEW Best in Business award. Matt writes a weekly investment column for the Motley Fool ("Ask a Fool") that is syndicated in USA Today, and his work with Motley Fool Money has also been syndicated to MSN and Yahoo! Finance. He has been regularly featured on Fox Business and many other major outlets. He’s a graduate of the University of South Carolina and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University.

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Borrowers with good credit will appreciate the many benefits of LightStream personal loans. Not only does it make the unusual promise to beat any qualifying offer, LightStream personal loans also come with a $100 loan experience guarantee. We'll cover the pros and cons in our full LightStream personal loans review.

Award Icon 2025 Award Winner

LightStream

Great for: Borrowers with good credit

Check Rates for LightStream
Logo for LightStream
Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Check Rates for LightStream
Minimum Credit Score
Good credit
Loan Amounts
$5,000 - $100,000
APR Range
6.99% - 25.29% (w/ AutoPay)*
Term Length
24-240 months (varies by loan purpose)

LightStream offers some of the lowest rates on personal loans, as well as high loan limits. Also, LightStream doesn't charge fees. All in all, this is one of the most competitive personal loan lenders you'll come across. The catch is that LightStream has stricter borrowing requirements than some other lenders.

  • Competitive APRs
  • No fees or prepayment penalty
  • Same-day funding available
  • High maximum loan amount
  • Better APRs available
  • No pre-approval for personal loans
Disclaimers

Rates quoted are with AutoPay. Your loan terms are not guaranteed and may vary based on loan purpose, length of loan, loan amount, credit history and payment method (AutoPay or Invoice). AutoPay discount is only available when selected prior to loan funding. Rates without AutoPay are 0.50% points higher. To obtain a loan, you must complete an application on LightStream.com which may affect your credit score. You may be required to verify income, identity and other stated application information. Payment example: Monthly payments for a $10,000 loan at 8.49% APR with a term of 5 years would result in 60 monthly payments of $205.12.  Some additional conditions and limitations apply. Advertised rates and terms are subject to change without notice. Truist Bank is an Equal Housing Lender. © 2024 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

Compare the best personal loans

Get the best rates and terms to fit your needs. Here are a few loans we'd like to highlight, including our award winners.

Lender APR Range Loan Amount Min. Credit Score Next Steps
Fixed: 8.99%-29.99% APR (with all discounts)
$5,000 - $100,000
680
7.99% - 24.99%
$2,500 - $40,000
660
7.80% - 35.99%
$1,000 - $50,000
300

Full LightStream personal loans review

This personal loan is a good fit for: Borrowers with strong credit in search of extremely low interest rates.

Top perks

Low-rate guarantee: If you can provide evidence a competing lender offered a lower loan interest rate on the same terms, LightStream will beat it by 0.10 percentage points. On top of that, LightStream's published APRs are some of the lowest we've found.

Fast funding: The loan application process can be completed online with timely responses during business hours. Approved borrowers can receive funds the same day. That's one of the quickest turnaround times in the business.

A customer experience guarantee: If you've received a loan but are not satisfied with your experience, LightStream wants to hear from you. It will offer you the chance to complete a questionnaire and receive $100 for your trouble.

Flexibility: LightStream has very few restrictions on how borrowed funds can be used. Consumers can obtain loans for most purposes, including financing home renovations, buying a car, or debt consolidation. You can't borrow to fund higher education (pre-K-12) tuition, or refinance existing LightStream loans. Loans are only available to individuals, not businesses.

No fees or prepayment penalties: You will pay no fees with LightStream, even if you want to repay your loan early. Keep the lack of fees in mind as you compare loans, as many lenders charge origination fees that can be in the hundreds or thousands of dollars. Another lender may offer a lower interest rate, but a LightStream loan could ultimately cost less because there are no pesky fees involved.

Large loan amounts: LightStream offers between $5,000 and $100,000 in financing to qualified borrowers. In addition, loan terms can run from two years to 12 years, depending on the loan type.

0.50% AutoPay discount: This is one of the larger autopay rate discounts on offer. To be perfectly clear, LightStream's published APR range and the rates borrowers are quoted assuming you'll be using AutoPay.

What could be improved

Strict qualification requirements: The lender is very restrictive in its approval process. It could offer loans to a wider pool of would-be borrowers, even if it had to do so at higher rates -- but it chooses not to.

No prequalification: Most personal loan companies will let borrowers check their rates without a hard credit pull (no impact on their credit score), but LightStream doesn't. This can be a major differentiator, especially for borrowers who prefer to shop around with a few lenders before applying.

How to qualify for a LightStream personal loan

You'll generally need the following to qualify for a LightStream loan:

  • Good or excellent credit score: You'll need several years of credit history and your credit report should include a mix of different types of accounts.
  • Substantial assets: Borrowers generally need to have some liquid assets such as retirement savings or real estate with equity.
  • Limited debt: Your revolving debt, including credit card debt, must be at a manageable level. In other words, your income and current debt load must justify the new loan.
  • Proof of income: Your source of income must be stable and you must make enough to show you can repay the loan.
  • A strong payment history: You should have no delinquencies on your credit record.

LightStream's application process

LightStream's entire application process can be completed online in four steps:

  1. Select the type of application and loan purpose
  2. Provide your personal information
  3. Answer a few security questions to confirm your identity
  4. Review your information and submit your application

If you apply during business hours, you should receive a swift response. LightStream may ask you to submit additional documents and provide information on funding. If it approves your application, you'll need to e-sign a loan agreement.

Once you've finished these steps, you can get funding as soon as the same day.

This LightStream personal loan is right for you if:

  • You have the credentials to qualify and want both low interest rates and excellent customer service guaranteed.
  • You want to receive funding very quickly.
  • You need to borrow a larger sum, as LightStream provides loans of up to $100,000.

If LightStream doesn't sound like a fit for you, we'd suggest exploring your options among the best personal loans available now.

FAQs

  • LightStream is known for being one of the more difficult personal lenders to qualify with, as it expects a borrower to have an excellent credit score and payment history, significant assets, relatively low debt, and enough documented income to justify the loan.

  • There's no set-in-stone income requirement for a LightStream personal loan, but the company expects borrowers to have stable income that is enough to justify the loan. LightStream will also look at an applicant's other debts to be sure they can comfortably afford the new loan payments as well as all of their existing obligations.