Our partners cannot pay us to guarantee favorable reviews of their products or services. If you qualify, you can borrow money for things like home improvement projects, vehicle loans, medical loans, PreK-12 education, recreation loans, certain debt consolidations and much more. And it's also smart to have some kind of rainy day fund. Loan terms and fees may vary by state. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. Credit history with a variety of account types. § After receiving your loan from LightStream, if you are not completely satisfied with your experience, please contact them. LightStream Personal Loans is offered by SunTrust Bank, a bank founded in 1865 and based in Atlanta, GA. LightStream Personal Loans is available in 50 states (and Washington, DC). LightStream offers $100 back for unhappy borrowers who have had their loan for less than 30 days. The company requires that you use the money from the loan for the purpose you indicated in your application. Get connected to competitive loan offers instantly from top online consumer lenders. It has Rate Beat Program assuring they’ll beat a qualifying interest rate (APR) 2 from any other lender. Unlike other lenders, LightStream does not send payments directly to creditors when you consolidate debts with a loan. LightStream provides low-rate auto loans for purchases and refinancing, but only for borrowers with good credit. to us. Longer repayment terms can make monthly payments more affordable on expensive home projects, like a kitchen remodel, solar panel installation or swimming pool addition. Get up to 12-year loans; Pay lower monthly amounts; The LightStream loan specifically aims to help in certain areas, one of those being home improvements. Learn more about how we're responding to the coronavirus (COVID-19). LightStream loans can be used for almost anything, but the rates and terms may vary depending on what it's used for. You control the terms of your LightStream home improvement loan. Get personalized rates in minutes and then choose an offer from a selection of top online lenders. a good investment in your home — and your mental health. To start off, here's a payment example: Monthly repayments for a $10,000 loan at 5.99% APR with a term of three years would result in 36 monthly repayments of $304.17. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. LightStream offers loans for dozens of categories and subcategories, such as landscaping loans in the home improvement category or adoption loans in the family category. To review LightStream’s personal loans, NerdWallet collected more than 40 data points from the lender, interviewed company executives and compared the lender with others that seek the same customer or offer a similar personal loan product. Starting interest rates for excellent-credit borrowers are low — around 5% if you use autopay — and vary based on the loan purpose, term, amount and your credit profile. Your exact rates and monthly payments will be determined by your credit history and profile. Loan example: A four-year, $20,000 loan with a 13.9% APR would cost $546 in monthly payments. We may rely on information that is provided They will email you a questionnaire so they can improve their services. You must contact the company and fill out a questionnaire to receive the $100. Multiple account types within your credit history, like credit cards, a car loan or other installment loan and a mortgage. You also might be able to get your funds the same day you apply if you meet specific criteria. Quick Review: Loans from LightStream have some of the lowest interest rates on the market. Requires several years of credit history. All financial products, shopping products and services are presented without warranty. Instead of a blanket interest rate for a single loan product, LightStream bases rates, in part, on the purpose of the loan. Lightstream allows customers to borrow as little as $5,000 or as much as $100,000. A highly-rated lender with competitive rates, high loan amounts and no fees. Unusually, APRs vary according to the purpose of your loan and not just depending on your financial profile, but there are very few limitations to what you can spend your loan on. Some borrowers have issued complaints because LightStream conducts hard inquiries on applicants’ credit reports, which can negatively impact an individual’s credit score in the short term. They offer their lowest rates for all loan types to borrowers with the highest credit scores and the lowest length of terms. We may also receive payment if you click on certain links posted on our site. So in case an emergency pops up, you have the ability to take care of it and not be completely leveraged to the hilt.". If additional information is required, a LightStream representative will follow up through email. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. NerdWallet's ratings for personal loans award points to lenders that offer consumer-friendly features, including: soft credit checks, no fees, transparency of loan rates and terms, flexible payment options, accessible customer service, reporting of payments to credit bureaus, and financial education. Your credit report will also determine whether your LightStream loan will be an unse… LightStream’s low APR and flexible terms are highly appealing but only open to borrowers with good or excellent credit. Get our weekly newsletter for the latest in money news, credit card offers + more ways to save. Reach out to Lighstream if you have any questions about the merger or how it affects your home improvement loan. Jackie Veling covers personal loans for NerdWallet. LightStream’s wide window of available repayment terms (two to seven years for most loans) gives borrowers the option to prioritize less overall interest with a shorter term or lower monthly payments with a longer term. "Making sure that if you take out a loan, you always pay your bills on time and that you're not taking on more debt than you can reasonably manage. Finder is committed to editorial independence. LightStream displays annual percentage rate ranges for each loan purpose on its website, but the lender does a hard pull on applications that originate on its website. LightStream's guarantee expires 30 days after you receive your loan. There are no appraisals or home equity requirements, allowing you to get the funds you need without any hitches. And to assure customers enjoy their best loan experience, LightStream stands behind its process with a Loan Experience Guarantee. We believe everyone should be able to make financial decisions with confidence. A LightStream home improvement loan can be a great option for funding entire home improvement projects. Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. Borrowers who have questions are directed to an email form on the lender’s website. Instead, borrowers have to keep track of their own repayments. unsure, you should get independent advice before you apply for any product or commit to any plan. Finder.com LLC. Repay your fixed-rate home improvement loan in as little as two years, or take up to 12 years*. Limited to one $100 payment per funded loan. Applicants typically receive an answer quickly during business hours. Its home improvement loans come with minimal fees and competitive fixed APRs. Longer repayment terms can make monthly payments more affordable on expensive home projects, like a kitchen remodel, solar panel installation or swimming pool addition. * Payment example: Monthly payments for a $25,000 loan at 6.89% APR with a term of 12 years would result in 144 monthly payments of $255.63. You’d pay $6,208 in total interest on that loan. The scoring formula takes into account factors we consider to be consumer-friendly, including impact to credit score, rates and fees, customer experience and responsible lending practices. Reports payments to three credit bureaus. If your credit history enables you to qualify, this loan is a great option to finance your home renovation projects. LightStream does not provide a phone number, chat option or social media account to contact. If you need to repay your loan over a long period of time to keep monthly payments low, this is a great benefit. Loan amounts range from $5,000 to $100,000, and the APR varies from 4.99% to 16.79%. Our opinions are our own. Typically, you should receive a response quickly if you apply during business hours. Then click. LightStream’s home improvement loans allow you to fund any home improvement project at a low, fixed rate with terms that range from two to 12 years. Apply today! If you are Expert review. This methodology applies only to lenders that cap interest rates at 36%, the maximum rate financial experts and consumer advocates agree is the acceptable limit for a loan to be affordable. When evaluating offers, please review the financial institution’s Terms and Conditions. Personal loans. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. Review your application and read over the fine print, including LightStream's online privacy policy. LightStream personal loans can also work for car loans, home improvement, recreational costs, solar financing, medical bills, and much more. Your credit score for purchases and refinancing, but only for borrowers with to! Please review the financial institution, service provider or specific product ’ s site platform information. Days after you receive requested funds up front and repay them over a long period of to! 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