LightStream 2025 Personal Loan Review

LightStream offers unsecured personal loans with no fees in a wide range of amounts and repayment terms. The lender also offers joint personal loans for two co-borrowers to cover a shared expense.

Among its many consumer-friendly features, LightStream allows borrowers to choose when they receive their money. The lender can deposit funds into your account as early as the same day or up to 90 days after approval for home improvement loans.

Scheduling a later fund date allows time to plan for your first payment or align your loan with the expenses you need to cover.

LightStream personal loans at a glance

• Disclosure from LightStreamDisclosure from LightStream

  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 7.99% APR with a term of 5 years would result in 60 monthly payments of $202.72. 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.

Where LightStream personal loans stand out

Competitive APRs: LightStream’s minimum and maximum annual percentage rates are lower than the average rates of the lenders NerdWallet reviews. Lower rates mean you’ll pay less interest over the life of the loan.

Rate discounts: LightStream offers a rate discount of 0.50 percentage points if borrowers set up automatic loan payments. Through the lender’s Rate Beat Program, you could get a 0.10 percentage-point rate discount off a competitor’s lower rate if you can show you are approved by the competitor for an unsecured, fixed-rate loan with the same terms.

No fees: LightStream doesn't charge fees for loan origination, late payments or paying a loan off early. Most lenders charge a late fee, and many online lenders charge origination fees.

Large loans available with long repayment terms: LightStream offers loans from $5,000 to $100,000 — higher than most lenders — with repayment terms ranging from two to 20 years, depending on loan purpose and amount. For most loan purposes, your term is capped at seven years (or six if the loan is under $25,000). Borrowers financing a boat or RV may have terms up to 12 years. Borrowers with home improvement loans may get terms up to 20 years.

Same-day funding: LightStream says it can approve loan applications within five minutes and fund loans as soon as the same day. Borrowers can also request to schedule loan funding within 90 days on home improvement loans or 30 days for all other purposes.

Where LightStream personal loans fall short

Limited ability to pre-qualify: LightStream does not allow applicants to pre-qualify directly from its website, though potential borrowers may be able to check their personalized rates with a soft credit check via partner sites like NerdWallet. LightStream displays example rates, terms and monthly payments on its website if you plug in your desired loan purpose and loan amount, but it doesn’t factor in your individual creditworthiness.

High minimum loan amount: LightStream loans start at $5,000, which may be too high for borrowers looking to fund a small expense.

No direct payment to creditors with debt consolidation loans: Unlike other lenders, LightStream doesn't send payments directly to creditors when you get a debt consolidation loan. Instead, borrowers must allocate their loan funds to pay off creditors on their own.

No mobile app to manage loan: LightStream does not have a branded mobile app to make payments or view your loan balance, which is a convenient feature several lenders have.

How to use LightStream personal loans

Do you qualify for a LightStream personal loan?

LightStream lends to borrowers in all 50 states and Washington, D.C. It typically accepts loan applicants with good-to-excellent credit scores, at least a few years of credit history and a variety of account types on their credit history. However, the lender says a high credit score doesn’t guarantee loan approval, as it examines other factors of creditworthiness.

LightStream’s borrowing requirements

• Minimum credit score: 660.

• Maximum debt-to-income ratio: 55%.

• Must  provide a Social Security number.

• Must have a valid email address and U.S. bank account.

» MORE: How to get a personal loan

How we rate LightStream

NerdWallet writers and editors rate lenders against a rubric that changes each year based on how personal loan products evolve. Here’s how we scored LightStream this year: