Our LightStream loan review explores the benefits and drawbacks of a highly-rated online personal loan provider for borrowers with good to excellent credit. With no fees, competitive rates, and large loan limits, LightStream is a solid choice for debt consolidation, home improvement projects, or refinancing high-interest credit cards. While it earns a good rating score, it misses out on taking a spot in our overview of the best personal loan providers.
Before you apply, take a closer look at how LightStream compares to other top lenders, what the application process involves, and how real customers rate the experience.
Compare LightStream vs. SoFi and other top-rated loans
Pros
No origination fees
No late fees
Rate Beat Program
Autopay interest rate discount
High borrowing amounts
Available nationwide
Mobile app available
Cons
No co-signer option
No direct payments to creditors for debt consolidation
Fixed payment date with limited flexibility
LightStream Features and Benefits
You can use a Lightstream personal loan for almost any legal purpose, including debt consolidation and large expenses like home renovations. Borrowers who qualify enjoy competitive rates and high loan limits.
- Loan amounts: $5,000 to $100,000
- Terms: 24 to 84 months
- Uses include credit card payoff, home improvement, large purchases
- No origination, prepayment, or late fees
- Rate Beat Program could qualify you for an APR that’s 0.10% below a competitor’s approved rate
- Autopay discount reduces your interest rate if selected before funding
LightStream Review: Editorial Rating
Trusted Company Reviews Rating Score for LightStream: 6.6
Our rating reflects LightStream’s competitive loan features for qualified borrowers, including no fees, large loan amounts, and competitive interest rates. While the lender’s application process can feel more rigid than some competitors, obtaining a Lightstream loan through Credible makes it much easier to explore your options and apply with confidence.
| Origination Fee | 0 |
| Loan Terms | 24 – 84 months |
| Minimum Credit Score | 660 |
| Loan Amounts | $5,000 – $100,000 |
| BBB Rating | 1.36 / A+ |
What We Like
LightStream stands out for offering simple, fee-free loans with generous borrowing limits and perks for high-credit borrowers. Here’s what we like most about the company.
- No fees of any kind
- High loan amounts available
- Competitive rates for excellent credit
- Rate Beat Program for rate shoppers
What We Don’t Like
Despite its strengths, LightStream isn’t the most flexible lender on the market. Some borrowers may find these drawbacks limiting:
- No co-signers allowed
- Autopay discount must be selected before funding
Is LightStream Legit?
LightStream is a legitimate lender operated by Truist Bank. It holds an A+ rating with the Better Business Bureau and is available in all 50 states. While customer reviews are mixed, most complaints involve limited flexibility and communication. If you meet the credit requirements, it’s a trusted option.
About LightStream
LightStream began as the online lending arm of SunTrust Bank and now operates under Truist Bank. It offers unsecured personal loans to borrowers with strong credit histories, typically approving applications between $5,000 and $100,000. Unlike many lenders, it imposes no origination fees.
Credit Score and Qualifying Requirements
To qualify, borrowers typically need:
- A credit score of 660 or higher
- A stable credit history
- Proof of legal U.S. residence
- Personal information and proof of income
Joint applications are allowed, but LightStream does not accept co-signers. Autopay must be selected at the time of funding to qualify for a discounted interest rate.
How to Get a LightStream Loan
While LightStream doesn’t offer prequalification directly, applying through Credible lets you check your loan options using a soft credit pull before formally applying. This allows you to view potential offers without impacting your credit score.
Our Credible review highlights your ability to compare LightStream with other top lenders using a soft credit pull that won’t affect your credit score.
Most loans fund in 1–2 business days after approval, and some borrowers receive same-day funding.
About Truist Bank
LightStream is operated by Truist Bank, a major U.S. commercial bank formed by the merger of SunTrust and BB&T. Truist Financial is the 6th largest commercial bank in the U.S., as of November 2023, with a net worth of $42.73 billion, according to the most recent Macrotrends report.
Truist provides a full suite of banking services including mortgages, insurance, and investment products. While it maintains an A+ rating with the BBB, its average customer review rating is relatively low. Truist Bank is an equal housing lender and provides the funding for LightStream loans, though LightStream operates separately as an online division.
LightStream Loan Reviews from Customers
Customer feedback for LightStream is mixed. While many praise the low rates and quick funding, others are frustrated by the lack of flexibility. On the Better Business Bureau website, LightStream holds an A+ rating but an average user score of just 1.36 out of 5. Trustpilot rates it at 1.8 stars.
Positive reviews focus on the simplicity and speed of the application and funding process. Negative reviews often cite rigid repayment schedules and frustration over denials without explanation.
LightStream Vs. SoFi
Both LightStream and SoFi offer unsecured personal loans for borrowers with strong credit, with loan limits up to $100,000 and no origination fees. However, SoFi offers more in the way of flexibility.
| BBB Grade / Rating | Average Reviews Rating | Origination Fee | Loan Terms | Minimum Credit Score | Loan Amount | |
| LightStream | 1.36 / A+ | 3.9 | $0 | 24 – 84 months | 660 | $5,000 to $100,000 |
| SoFi | 1.74 / A+ | 4.6 | $0 | 24 – 84 months | 680 | $5,000 to $100,000 |
Both SoFi and LightStream loan products are available through Credible, making it easy to compare offers and choose the best fit. SoFi may appeal more to borrowers seeking a broader range of financial services and added flexibility, while LightStream stands out for its competitive rates, higher loan amounts, and no-fee structure. Check out our SoFi review to learn more about the provider and your options.
LightStream Alternatives
If LightStream doesn’t feel like the right fit, there are plenty of solid alternatives. Best Egg offers fast funding and flexible approval standards. Upstart uses nontraditional credit data to approve borrowers who might not qualify elsewhere. LendingClub offers joint applications and direct payments to creditors. Upgrade features secured and unsecured loans with flexible terms. And LendingTree, a leading loan marketplace, lets you compare offers from multiple lenders side by side to find the best rates and terms based on your credit history.
You can compare all of them using our overviews of the best personal loans and best debt consolidation lenders.
Frequently Asked Questions
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Source
Logo image Source: lightstream.com
Deane Biermeier
