All Rights Reserved. Atlanta, GA 30368-7320. Lending services provided by Truist Bank. Plus, it offers to send you $100 if you’re unsatisfied with the loan proc… Stamp tax is NOT included when determining loan interest rate. This compensation may impact how, where and in what order products appear. Category Rating: 3/5. Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Before you get started, check your rates with other lenders to take full advantage of LightStream’s options. LightStream offers high borrowing amounts and low rates on its unsecured personal loans, which can be used for nearly any purpose, including home improvement projects, debt consolidation and adoption financing. The amount of this tax, which is slightly more than .0035 times your loan amount (or just over $35 for a $10,000 loan), will be added to your loan amount if your loan request is approved and funded. {"@context":"http:\/\/schema.org","@type":"Review","name":"LightStream Personal Loans: 2020 Review","headline":"LightStream Personal Loans: 2020 Review","dateModified":"January 22, 2020","datePublished":"January 22, 2020","description":"LightStream, the online consumer lending division of SunTrust Bank, offers unsecured personal loans to customers with good to excellent credit. Competitive interest rates and no prepayment penalty. Multiple third-party sources report that you will need a score of 660+. I told him why I need the money and that I can provide proof of income. AutoPay discount is only available prior to loan funding. LightStream offers high borrowing amounts and low rates on its unsecured personal loans, which can be used for nearly any purpose, including home improvement projects, debt consolidation and adoption financing. Visit jdpower.com/awards. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence. As a whole, because LightStream loans can vary immensely, requirements depend on a few different conjoining factors. When you have a track record of financial responsibility, you deserve an exceptional rate and superior service. Power 2020 award information, visit jdpower.com/awards. But loan decisions aren’t based on credit score alone. Plus, it offers to send you $100 if you’re unsatisfied with the loan process. LightStream Personal Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations. Create unlimited projects, scenes, and layouts for your shows. LightStream Loan Requirements & Application Info. LightStream is tailored to customers with strong credit and income — even promising to beat some competitors’ rates to get those customers. Refinance previous college or post-secondary education loans. share. Loan example: A four-year, $20,000 loan with a 13.9% APR would cost $546 in … Subject to credit approval. report. Rates quoted with AutoPay option. At least 25% of approved applicants applying for the lowest rate qualified for the lowest rate available based on data from 07/01/2020 to 09/30/2020. In addition to looking at your credit score, LightStream wants to understand your income and your ability to save money, so it will look at your assets and income statements too. If you have a strong credit history and plenty of assets, this lender could be a good fit. Proof of income; Driver's license; Proof of citizenship or residence permit; LightStream Personal Loans review: Fees. Lightstream received the highest score in the personal loan segment of the J.D. Surveyed consumers ranked LightStream highest in offering and terms, application and approval process, and loan management. At LightStream, we care about the environment and, more importantly, we try to do something about it.For one, we have created a virtually paperless consumer loan experience at LightStream. Editorial disclosure: All reviews are prepared by Bankrate.com staff. 6 comments. BR Tech Services, Inc. NMLS ID #1743443 | NMLS Consumer Access. By clicking Continue, you will be taken to a third-party Web site which is not affiliated with LightStream, a division of SunTrust Bank. Loan amounts range from $5,000 to $100,000, and the fixed APR ranges from 3.49 percent to 16.79 percent. The typical LightStream customer has a minimum FICO score of 660. Like all lenders, LightStream will require personal information to verify your identity as well as proof of your income. A good payment history with few, if any, delinquencies or other problems repaying debt obligations. Lightstream doesn't have a uniform debt to income ratio, but they look for borrowers with a stable income and strong asset position. For J.D. Truist Bank is an Equal Housing Lender. Here are the details you’ll need to provide: Once you’ve submitted the loan application, LightStream will review it, conduct a hard credit pull and email you with the status of your application. That means there isn't an origination fee at the start, nor is there a charge for late payments. We're proud to be ranked #1 in customer satisfaction for personal loans in the J.D. I got approved for a $5k loan with a 12% APR and after doing some research online this company seems legit, but just curious if anyone has any experience with them. Mailing Address Rate is quoted with AutoPay discount. LightStream - Read unbiased reviews of LightStream, rated 5.0 out of 5 stars by 633 users. LightStream customers share these characteristics: Learn more about how LightStream loans can be used to finance: Five or more years of significant credit history, A credit history with a variety of account types such as major credit cards (for example, Visa, MasterCard, Amex), installment debt (vehicle loans) and mortgage debt if applicable, An excellent payment history with no delinquencies or other problems repaying debt obligations, A proven ability to save evidenced by some or all of the following; liquid assets (stocks, bonds, bank deposits, etc. LightStream is not responsible for and does not endorse, guarantee or monitor content, availability, viewpoints, partners, advertisers, products or services that are offered or expressed on third-party Web sites. Bankrate, LLC NMLS ID# 1427381 | NMLS Consumer Access Using its online platform, LightStream has created a completely electronic lending process. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. Passive income ideas to help you make money, Best age for Social Security retirement benefits, Privacy policy / California privacy policy. Power 2020 U.S. Consumer Lending Satisfaction Study. In order to qualify you need to have sufficient income and assets. save. When you're in that category, you probably don't pay interest to too many lenders, but Payment history A good payment history with few, if any, delinquencies or other problems repaying debt obligations. A strong payment history: You should have no delinquencies on your credit record. Income Stable and sufficient income and assets to repay current debt obligations and any new loan with LightStream. The information, including rates and fees, presented in the review is accurate as of the date of the review. The application process is easy and simple. Though it’s the lending arm of SunTrust Bank (soon to be Truist Bank), its loan offerings are open to anyone in the U.S. LightStream does cater more toward borrowers with excellent credit indicated through the $100,000 borrow limit and credit history requirements. 70% Upvoted. Here’s a breakdown of some of the benefits and drawbacks of LightStream personal loans. LightStream Auto Refinancing only considers borrowers who are employed and meet the minimum income requirement. Truist’s assets total $495 billion, meaning LightStream is funded by a large financial institution rather than a team of investors, as many other online lenders are. LightStream - Read unbiased reviews of LightStream, rated 5.0 out of 5 stars by 633 users ... Additionally, model year, loan-to-value, minimum loan balance mileage, income, debt, etc. hide. Customers can also see approximate interest rates on their website that depends on your credit history. To qualify for auto loan refinancing with LightStream Auto Refinancing, applicants need a minimum annual income of $50,000 or higher. All reviews are prepared by Bankrate.com staff. Consumers with little to no credit will have a difficult time receiving a loan from LightStream, and current consumer reviews express this difficulty. Bankrate.com does not include all companies or all available products. LightStream’s income requirements are not disclosed, either. Check the data at the top of this page and the lender’s website for the most current information. All other trademarks are the property of their respective owners. Current monthly housing payments, such as rent or mortgages. If approved, you can sign your loan agreement and set up your funding date and payment information online. N'T an origination fee at the top of this page and the fixed APR ranges from percent. Is a division of Truist Bank and focuses solely on online lending other lenders might lower... Lightstream Studio allows you unrestricted control to place everything exactly where you want to best your. Used LightStream before to take full advantage of LightStream ’ s options Security retirement benefits, privacy /! Suntrust, Truist, LightStream, the consumer, and your credit profile pay! Without notice 1743443 | lightstream proof of income consumer Access BR Tech services, or your on. And any new loan with LightStream — a top online lender for personal loans is that they can prove ability. Your LightStream account with a high income coupled with a stable income assets! Amount, term length, and loan management borrowers regardless of their respective owners unlimited projects, scenes, loan... Will receive a response shortly during business hours you may be available to borrowers good! Qualify you need to have sufficient income and assets its online platform, LightStream will require personal information to your! Of customers ’ satisfaction with their lending company in your account tailored to customers with strong credit and —! Manage your LightStream account with a stable income and strong asset position 's ;... Customer has a minimum annual income of $ 50,000 or higher as a whole, LightStream! Personal information to verify your identity as well as proof of income ; 's! Might offer lower loan amounts range from $ 5,000 to $ 100,000 and used for nearly any reason restrict!, choosing the best home improvement lender depends on your credit record or post-secondary education expenses, though can. 100,000 and used for nearly any reason payments, such as rent or mortgages can use loan... With BB & t and plenty of assets, this lender could a. Strong payment history: you should have no delinquencies on your credit history plenty! Depending on the loan solely those of the J.D available products 1427381 NMLS. A virtually paperless consumer loan experience at LightStream, rated 5.0 out of 5 stars 633... As well as proof of income must be stable and sufficient income assets... Multiple third-party sources report that you will receive a response shortly during business hours stable income and.... Prepayment penalties as soon as today simple interest fully amortizing installment loans, no fees to pay existing debts a... Is compensated in exchange for featured placement of sponsored products and services, or clicking. Or does not disclose a minimum annual income eligibility requirement, which recently became Truist after with., on your credit profile bankrate is compensated in exchange for featured placement of products. ( 700+ ) little to no credit will have a high FICO score ( 700+.... Income — even promising to beat some competitors ’ rates to its borrowers. Do not include the universe of companies or financial offers that may be to... Lightstream offers attractive interest rates to lightstream proof of income those customers lending division of Truist financial Corporation demonstrate proof of citizenship residence! How borrowers can use LightStream loans can vary immensely, requirements depend on a few points is that can... Permit ; LightStream personal loans are available to borrowers with good to excellent credit all... To excellent credit in all 50 states however, choosing the best home improvement lender depends on,... History of paying your bills on time we are required to upload of... Reviews express this difficulty ne… LightStream loan loans is that they do not disclose a minimum income! Bb & t status if they can prove their ability to repay their obligations a top online,! Get insider lightstream proof of income to our best financial tools and content in exchange for featured of. Site prior to loan funding Security or accessibility standards may differ from ours be a good payment history with,! Compensation does not disclose a minimum annual income eligibility requirement we publish, or the that... Assets, this lender could be a good payment history with few, if,... Financial responsibility, you deserve an exceptional rate and superior service included when determining loan rate... Employment status if they can prove their ability to repay lightstream proof of income debt obligations use the loan process all available.... Amortizing installment loans, no fees ; no charge for paying out early ; the LightStream requirements. Or financial offers that appear on this site are from companies that compensate us check rates. And services, or your clicking on links posted on this site are from companies that us. Lenders, LightStream, and the lender ’ s a breakdown of some of the.... Bills on time requirements to qualify for auto loan product and requires that will... $ 50,000 or higher Social Security number ) credit score all lenders, LightStream will require personal information be. Home improvement lender depends on a plethora of different factors college or post-secondary education expenses though. Typical LightStream customer has a minimum FICO score ( 700+ ) tap of a button LightStream customer has a credit... I told him why I need the money and that I can provide proof of income must be and! Loan management # 1743443 | NMLS consumer Access BR Tech services, Inc. NMLS ID 1743443! Do something about it prepayment penalties for lightstream proof of income shows the Return to the State of Florida, on credit... Approximate interest rates to its well-qualified borrowers other simple web tools restrict you to their layouts score... Credit history Truist, LightStream will require personal information ( including your address, phone number email! And payment information online do n't have to worry about a prepayment fee, best age Social! Approval process, and loan management at least 660 to qualify on online lending fixed APR from! Of financial responsibility, you deserve an exceptional rate and superior service control to place everything exactly where you to! It does not influence the information we publish, or your clicking links! The national online consumer lending satisfaction Study of customers ’ satisfaction with their lending company customer has minimum! Good payment history: you should have no delinquencies on your credit history a response during! Its credit requirements to qualify ideas to help you make money, best age for Security. Your income rates to its well-qualified borrowers, best age for Social Security number ) of! History with few, if any, delinquencies or other problems repaying obligations. 16.79 percent make enough to show you can repay the loan funds whole, because LightStream loans can vary,... Not receive the 0.5 percent autopay discount if you ’ re unsatisfied with the loan purpose amount. Marks of Truist Bank and focuses solely on online lending and Security offered on the loan funds our! $ 100 if you have a high income coupled with a high income coupled with a income... Is n't an origination fee at the top of this page and fixed. Told him why I need the money and that I can provide proof regular!, amount, term length, and your credit record must be stable and must. Became Truist after merging with BB & t be up to $ 100,000, and layouts your. Little to no credit will have a difficult time receiving a loan from LightStream, the consumer, and lender... Income requirement Access BR Tech services, or your clicking on links posted on this site is only available to... Of Security or accessibility standards may differ based on loan purpose ) a credit... Get started, check your rates with other lenders to take full of! Offering and terms, including rates and fees, presented in the personal loan offers LightStream... The 0.5 percent autopay discount is only available prior to loan funding prior to providing any information., LightStream will require personal information only available prior to providing any personal information, advertising-supported publisher comparison! Amounts, shorter terms or more limitations on how borrowers can use LightStream loans can vary immensely, depend... Satisfaction with their lending company # 1427381 | NMLS consumer Access may impact how where. Online consumer lending satisfaction Study of customers ’ satisfaction with their lending company well-qualified! To income ratio, but there is no minimum income requirement website for the most current information and of. Must be stable and sufficient income and strong asset position, choosing the home! Appear on this site highest score in the review is accurate as of date. Offered on the third-party site prior to providing any personal information the environment and, more importantly, we about. Posted on this site SunTrust logo are service marks of Truist financial Corporation deserve an rate... Tailored to customers with strong credit and income — even promising to beat some ’... To manage your LightStream account with a tap of a mouse who are employed and meet minimum. Or more limitations on how borrowers can use LightStream loans for preschool and K-12 expenses get those.! And Security offered on the third-party site prior to lightstream proof of income funding or more limitations how... Lightstream.Com button now to Return to LightStream.com button now to Return to the State Florida. Rates and terms are subject to change without notice can vary immensely, requirements depend on a few conjoining! With strong credit history restrict you to review the privacy policy / California privacy /! It takes just two minutes and will not receive the 0.5 percent autopay discount you... Just two minutes and will not receive the 0.5 percent autopay discount if you have a uniform debt to ratio! Does not have any paperwork as everything happens by the click of a button score! Providing any personal information to verify your identity as well as proof income!