To receive same-day funding, the applicant also must review and electronically sign the loan agreement provide LightStream with funding preferences and relevant banking information and complete the final verification process-all before 2:30 p.m. Turnaround time: LightStream borrowers can receive funds as soon as the same day if the loan is approved before 2:30 p.m.
Borrowers also are prohibited from using LightStream loan funds to refinance an existing LightStream loan. As with other top lenders, LightStream prohibits use of its personal loans for post-secondary education costs, business purposes and illegal activities. However, LightStream really stands out, because loans can be used to finance land, timeshares and so-called tiny homes. Loan uses: LightStream’s personal loans can be used for a wide range of purposes, from purchasing a new car, RV or jewelry to paying for home improvements. LightStream does not allow co-signers, but prospective borrowers can submit a joint application. Applicants with excellent credit also are more likely to get favorable terms. This fact-combined with the minimum credit score requirement-makes the platform a better fit for those with a strong credit profile. LightStream doesn’t give prospective borrowers the ability to prequalify for a loan. To increase their chances of approval, applicants also should have several years of credit history, including multiple account types, as well as an income that is stable enough to service current debts and a new LightStream loan. And, while LightStream doesn’t offer a mobile app for loan management, customers can access their account through .Įligibility: LightStream recommends applicants have good to excellent credit before applying for a personal loan. and Puerto Rico, and applicants can contact the lender’s customer support team seven days a week current borrowers have access to customer support from Monday through Saturday.
#Possible finance loan amounts plus
LightStream offers loans in all 50 states plus Washington, D.C. LightStream will beat a competitor’s interest rate by 0.1% for applicants who meet certain criteria. The lender also offers a 0.50% rate discount for borrowers who enroll in autopay-higher than most lenders with the same perk-as well as a 30-day loan experience guarantee to ensure borrower satisfaction, Covid-19/hardship assistance and a rate-beat program. In addition to offering appealing and flexible terms, LightStream charges no origination, late payment or prepayment fees. Repayment terms are available from two to seven years, making it an excellent option for those who want to spread out the payment of large expenses over time. Although a number of lenders offer smaller loans than the LightStream minimum, few lenders offer a higher maximum loan. Loan amounts vary based on the loan purpose. The platform offers unsecured personal loans from as little as $5,000 up to $100,000. LightStream is a consumer lending division of Truist-which formed following the merger of SunTrust Bank and BB&T.
0 kommentar(er)
