Loans
LightStream Personal Loan review: is it worth it?
A loan creates uncertainty. However, today you will learn a little more about the features of LightStream personal loan. So, read more.
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Note: Some information in this post might be outdated. For the most current documentation and updates, please refer to the product’s original page.
LightStream Benefits: loan of up to $100,000, no origination fees, and no late fees
During periods of inflation and economic downturn, a loan can be of great help. After all, being able to pay all the bills can be a great difficulty. The LightStream personal loan offers interesting benefits.
How to apply LightStream personal loan
Have you already made the LightStream personal loan application? Find out how to go about getting the credit you dreamed of.
This loan has no origination fees or late fees, and you can get up to $100,000. The minimum credit score is 660, and the APR reaches a maximum of 20.49%. Learn more about this option.
| APR | Maximum variable APR of 20.49% |
| Loan Purpose | Home improvements, Land purchases, Debt consolidation, Medical expenses, Wedding costs, and Preschool and K-12 expenses |
| Loan Amounts | $5,000 – $100,000 |
| Credit Needed | Excellent |
| Origination Fee | None |
| Late Fee | None, but there is a higher interest accrual |
| Early Payoff Penalty | None |
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LightStream personal loan: how does it work?
The LightStream personal loan is a very flexible loan for people with a reasonable credit score.
The process is carried out over the internet in an easy way. However, an agent may contact you by phone in some cases.
However, after applying and checking the documents, the credit can be made on the same day.
This applies to applications before 2:30 PM EST. Payment is also flexible, and the automatic debit option is one of the most used.
Is it worth it to apply for the LightStream personal loan?
To answer this question, we need to analyze a few things. Origination fees and late fees must be taken into account. Also the minimum credit level, range of loan amounts, and benefits as well.
Therefore, let’s see the benefits and disadvantages that LightStream personal loan presents.
Benefits
- No origination fees;
- No late fees;
- Good credit range;
- Loan flexibility;
- Highly competitive APR rates in the lending market;
- Special benefits to users as a satisfaction guarantee.
Disadvantages
- Lack of pre-qualification;
- Rigidity regarding the due dates for monthly payments;
- Requires a lengthy review of personal credit history;
- It has limitations on the use of some loan resources.
What credit scores are required for the application?
To apply for LightStream personal loan, you do not need an excellent credit history. Also, with a credit score of 660, you can now apply for the application.
However, the company makes a long analysis of the history in the previous years. So, this is to make sure of good use of credit and payment.
Just having made good use of it in the last few months, your application has a great chance of being approved.
LightStream personal loan: applying for this loan today
A personal loan may be just what you need. The LightStream personal loan is a great option because of the low fees and low credit required.
In addition, it is an option that provides benefits, is flexible, and seeks user satisfaction.
The application process is simple, and you can do it online or via a mobile application.
However, it is important to know where to start the application to increase the chances of being approved soon. Check out the tips we’ve separated here.
Apply online
The online application can be faster for those who don’t have a lot of smartphone experience. It can be done through a form on the official LightStream website.
Although the application is online and very practical, in some cases, the agency can contact you by phone. This happens to confirm some data.
Requirements
To perform the application, both online and by application, some information is requested. Check out:
- Purpose, amount, and term of the loan;
- Form of payment;
- Personal and contact information;
- employment information;
- Current expenses, including monthly housing payments.
Apply on the app
The mobile app doesn’t make much difference. You need to download the official LightStream app and then fill in the data.
The requirements are the same as for the online application. Then wait for review and approval.
Receipt of both the online application and the app can happen on the same day. However, the application must be made before 2:30 PM EST for this to happen.
LightStream personal loan vs. Prosper loans: which is the best for you?
When it comes to loans, there are many companies with offers. However, it is important to analyze and compare so you don’t have problems and surprises later.
Today we bring you the comparison between LightStream personal loan and Prosper Loans.
Overall, LightStream personal loan has the most benefit and flexibility. It has lower fees than Prosper loans.
| LightStream personal loan | Prosper loans | |
| APR | Maximum variable APR of 20.49% | 7.95-35.99% |
| Loan Purpose | Home improvements, Land purchases, Debt consolidation, Medical expenses, Wedding costs, and Preschool and K-12 expenses | Home improvements, Healthcare finances, Debt consolidation, Household expenses, and vehicle purchases |
| Loan Amounts | $5,000 – $100,000 | $2,000-$40,000 |
| Credit Needed | Excellent | 600 |
| Origination Fee | None | 2.41%-5% |
| Late Fee | None, but there is a higher interest accrual | Variable |
| Early Payoff Penalty | None | None |
If you like the Prosper loans features, check out our post below to learn how to apply for a loan there!
Prosper Loans application: how to apply now!
Looking for a personal loan? Prosper may be the right lender for you. With an easy online application, you can get a decision in minutes! Apply today!
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