LightStream Personal Loans: LightStream is one of the best lenders that offer low rates and zero fees to its borrowers with good-excellent credit scores or history. As per to LightStream claims, it also says that it can beat the interest rate of the competitor by 1/10th of a percentage point. In addition to that, LightStream also provides you $100 if the loan application has been approved and you are displeased with the loan procedure. Here’s the complete LightStream Personal Loans 2022 Review, so let’s have a look.
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About LightStream Personal Loans
LightStream Personal Loans is the Online Lender designed to accommodate and reward Borrowers with Good to Excellent Credit Scores. It is an online-only lender that offers a Broad Variety of Personal Loans. LightStream offers Personal Loans with highly competitive Rates and a Simple Application Process to Borrowers with Good Credit. It is one of the Top Personal Loan Lenders Online. The Lenders markets its Personal Loans for the Broad Variety of purposes that includes Home Improvements or solar installation, Auto Motorcycle Loans and Refinancing, Credit and Debt Consolidation, Timeshare Purchasing and Refinancing, Aircraft Purchase, or Refinancing.
Why to Consider LightStream Personal Loans?
There are many factors that make LightStream Personal Loans one of the best options among many other options. Here are providing you the list of LightStream advantages below here:
No Origination Fees: One of the best features about LightStream is that it does not charge any origination fee, and not even the late fee charges or any kind of pre-payment penalty fee.
Satisfaction Assurance: Another best thing about LightStream is that the borrowers get $100 back if they are not completely satisfied with their services. The unhappy borrowers can convey their dissatisfaction to the company within 30 days after getting the loan. If you have also received LightStream personal loans then you can contact the company and after answering the questionnaire completely, you are going to get $100 from them.
Long-Term Availability: For the bowers who are looking for long-term repayment loans, LightStream is one of the best options as it provides its customers 2-7 years of repayment terms for most of its loans. Because of this wide window of the range offered by LightStream, the borrowers can decide in advance whether they want shorter-term (high monthly interest) or longer-term (less monthly interest).
Special Features For Home Improvement: The borrowers whose credit scores range from good to excellent and are also looking to get some funding for their home improvement projects may also be eligible for extending their loan terms. In this case, the loan terms can be extended for up to 12 years and there will be no requirements for appraisals or home equity.
If the borrowers opt for longer repayment terms then it can be more affordable as there will be less amount of payment to be made on monthly basis. This will be helpful for expensive home projects such as kitchen remodeling, installing a solar panel,s or else adding s swimming pool and so on.
On this, the lender can delay the loan funding for up to 90 days as well. Interest is going to begin adding as soon as the loan is funded. On delaying the time period, it offers you more time for coordinating the remodel deprived of any extra interest on the loan.
Is there any drawback of LightStream Personal Loans?
Yes, there are certain downsides of LightStream Personal Loans that you must be aware of before applying and these are:
- The LightStream does a hard credit check on the loan applications that initiate on its website.
- LightStream does not perform life other lenders as it will not send the payments to the creditors directly and borrowers will have to keep tracking their own repayments.
- Fewer options for customer service and the borrowers can only contact via email.
Applying For A Loan With Lightstream? Here’s What You Will Need
When you Apply for the LightStream Personal Loans, here are certain things that will be evaluated in your application by the company and those are:
- Your credit history
- The requested amount of your loan
- The purpose of your requested loan
- The available assets
- The repayment term – It will be 2 to 12 years, based on the amount and purpose of your loan.
- The records of payment on all the loans and credit cards
The Application Process of the LightStream Personal Loan is very simple and straightforward. Here are all the details that you will be asked to provide in the application process:
- The applicants will be asked about the loan amount, purpose, and term, along with the payment method.
- The personal information of the applicant will also be asked such as your Social Security number, address, phone number, e-mail id, and so on.
- You will also have to provide your employment details by providing certificates regarding the same.
- In addition to the employment certificate, your current housing payments details will also be asked such as your monthly rent or mortgages.
- Your checking and savings account income and balances will also be required and your stocks, bonds along with retirement assets will also be checked during the process.
As soon as your loan application has been submitted, LightStream is going to review it, and then it will conduct a hard credit pull and you will receive an email from them regarding your application status. If your application will be approved, then you will be asked to sign your loan agreement and during the process, you can also set up the funding date along with the payment information and everything will be held online. Now when everything will be approved, the lender is now going to pay out the requested funds to your account.
Who should apply for LightStream Personal Loans?
The borrowers having a minimum credit score of 690 and have an excellent credit history of several years are eligible for LightStream Personal Loans. Meanwhile, if you have a strong payment history with very less or no failures then also you can qualify for the same. You must also have enough income so that you can pay your remaining debts along with the new LightStream Personal Loan. Your investments, retirement savings, monthly rent or mortgages, etc. will also help you to get a LightStream loan easily.
Overall, LightStream Personal Loans is one of the best options to get personal loans in a short time without putting much effort for the borrowers with good credit scores or history. The best part is that your loan can be approved as soon as you have applied for the loan and once your application is verified and accepted before 2:30 PM ET on a usual business day. You are also going to get customer service where you can talk to a professional representative regarding your loan queries. However, the customer service will be available from Monday to Friday, starting from 9:00 AM to 8:00 PM. Meanwhile, on Saturday you can contact them from 12 noon to 4:00 PM ET. On the official website of LightStream, the customers might not get the phone number, but there will be an email address available on the official page through which you can ask your questions and the assigned representative is going to respond during business hours that we have mentioned above.