LightStream Personal Loan Review

Advertiser Disclosure

Student Loan Hero Advertiser Disclosure

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print to help you understand what you are buying. Be sure to consult with a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time.

Editorial Note: This content is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the financial institution.

personal loans no credit check

We’ve got your back! Student Loan Hero is a completely free website 100% focused on helping student loan borrowers get the answers they need. Read more

How do we make money? It’s actually pretty simple. If you choose to check out and become a customer of any of the loan providers featured on our site, we get compensated for sending you their way. This helps pay for our amazing staff of writers (many of which are paying back student loans of their own!).

Bottom line: We’re here for you. So please learn all you can, email us with any questions, and feel free to visit or not visit any of the loan providers on our site. Read less

What is LightStream?

LightStream is SunTrust Bank’s online consumer lending division. Headquartered in Atlanta, SunTrust Bank has branches throughout the southeast and mid-Atlantic states, in addition to having LightStream loans available online nationwide.

LightStream aims to help customers to streamline their loan process by making their loan applications online-only, allowing applicants to receive their funds as quickly as the same day. For those with less-than-stellar credit, LightStream offers secured loans if you intend to purchase a vehicle. LightStream wants to prove it’s among one of the best loan companies out there by offering a rate beat program and a $100 guarantee if you didn’t receive an excellent loan experience.

LightStream personal loan highlights

  • Competitive rates: LightStream has a rate beat program where the company offers to beat a competitor’s rate by 0.10%.
  • No fees: LightStream doesn’t charge any application, origination or prepayment fees.
  • Hard pull for loan application: LightStream does a Hard Pull on your credit when you apply for a loan.
  • Customer service guarantee: LightStream will send you $100 if you weren’t satisfied with your customer service experience, as long as you contact LightStream and fill out a questionnaire within 30 days of receiving your loan.
Credit Req.
Origination Fee
APR 4.99%
Credit Req.Not specified
Terms24 to 144 *Months
Origination FeeNo origination fee

See Offers Secureon Lendingtree's secure websiteAdvertiser Disclosure

LightStream Disclosures

Your APR may differ based on loan purpose, amount, term, and your credit profile. Rate is quoted with AutoPay discount, which is only available when you select AutoPay prior to loan funding. Rates without AutoPay may be higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66.

LightStream Personal Loan Details
Fees and Penalties
  • Term lengths: 24 to 144 months
  • APR range: 4.99% – 16.79%(with autopay)
  • Loan amounts: $5,000
    – $100,000
  • Time to funding: Same day as loan approval
  • Credit check: Hard Pull inquiry
  • Origination fee: No origination fee
  • Prepayment fee: None
  • Late payment fee: None

LightStream product details

LightStream’s rate beat program offers borrowers the opportunity to receive the most competitive rate from this personal loan company. If you were offered a rate from a competitor that’s lower than what LightStream offers, LightStream will beat it by 0.10%. However, the competitor rate needs to meet the following terms and conditions:

  • The competitor’s rate needs to be available to customers who have a similar credit profile. For example, special discounts or limited time offers don’t apply.
  • The lower rate can’t be supported by third-party arrangement or offerings.
  • The loan for both LightStream and the competitor needs to be the same — fixed-rate, type, purpose, term and payment method.
  • You need to be approved by the competing lender and provide documentation as proof, which can include an approval letter or a loan document stating the APR.

LightStream also offers a loan experience guarantee, meaning the loan company will give you $100 if you weren’t satisfied with your application experience. To qualify, you’ll need to contact customer service and complete a questionnaire LightStream will send you. This questionnaire needs to be submitted within 30 days from when you receive your loan or your guarantee expires.

Eligibility requirements

  • Minimum credit score: 0
  • Minimum credit history: Not specified
  • Maximum debt-to-income ratio: Not specified

LightStream doesn’t mention any specific requirements in terms of age (though you’ll probably need to be the age of majority in your state), employment or location. In terms of your credit, the greater your credit score, the better. LightStream prefers applicants who also have a reasonable debt-to-income ratio. Borrowers can take out a loan for any purpose except to fund or refinance post-secondary or college loans, refinance existing LightStream loans and for business purposes.

You may need a credit card, as LightStream may ask for this information to as another way to verify your identity when you apply for a loan. Additionally, if you are applying for a secured auto loan, you’ll need to make sure the existing title is lien-free.

Applying for a personal loan from LightStream

To receive a loan from LightStream, start by filling out its online application form. Indicate whether it’s an individual or joint application, the purpose of your loan, your preferred term and personal details such as your address and employment information. Once completed, you’ll need to wait to receive a response from LightStream during its business hours.

If you’re approved, you’ll need to provide your credit card information — either a valid MasterCard or Visa — for verification purposes. You’ll also need to agree to receive electronic documents, e-sign your loan agreement and provide an account to receive your funds. LightStream will then deposit your funds as soon as the same business day if you submit all necessary information by 2:30 p.m. Eastern time.

Pros and Cons of a LightStream Personal Loan
  • Competitive rates: LightStream offers some of the lowest rates and offers a rate guarantee if you find a lower competitor rate.
  • High loan amounts: You can borrow up to $100,000.
  • No fees: There are no application, origination or prepayment penalties.
  • No clear credit requirements: Although LightStream prefers those with decent credit and a good debt-to-income ratio, there are no specifics as to what that is.
  • May require a credit card: You may need a valid Visa or MasterCard in order to complete the application process, which can be a hindrance if you don’t have one.
  • Hard pull required: LightStream doesn’t have a pre-approval process.

Who’s the best fit for a LightStream personal loan?

A LightStream personal loan is great for those looking for a competitive rate and can qualify for one (meaning they have great credit). That’s because this company offers some of the best rates out there or you can ask to beat a competitor’s rate, provided you meet its terms and conditions. It’s also great for those who want higher loan amounts or hate paying fees, as LightStream doesn’t charge any and offers loans up to $100,000, making it great for those who are looking to use the money for things like home remodels.

If you’re looking to borrow less than $5,000 or would rather go with a company that offers a pre-approval process, consider these other options for a personal loan.

Alternative personal loan options

Marcus by Goldman Sachs®

Credit Req.
Origination Fee
APR 6.99%
Credit Req.Not specified
Terms3 to 6Years
Origination FeeNo origination fee

See Offers Secureon Lendingtree's secure websiteAdvertiser Disclosure

Marcus by Goldman Sachs Disclosures

Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans).Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions. For New York residents, rates range from 6.99% to 24.99% APR.

Marcus by Goldman Sachs offers a pre-approval process so there is Soft Pull to find out what your rate could be. Just like LightStream, there are no application, origination, late or prepayment fees. It doesn’t offer as much money — loans are up to $40,000 — but it does offer a fairly lengthy term of 36 to 72 months.


Credit Req.
Origination Fee
APR 6.98%
Credit Req.600Minimum Credit Score
Terms3 or 5Years
Origination Fee1.5% - 6.00%

See Offers Secureon Lendingtree's secure websiteAdvertiser Disclosure

Upgrade Disclosures

* Personal loans made through Upgrade feature APRs of 6.98%-35.89%. All personal loans have a 1.5% to 6% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by WebBank, Member FDIC.

** Accept your loan offer and your funds will be sent to your bank via ACH within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes this transaction. From the time of approval, funds should be available within four (4) business days.

Upgrade offers a lower loan amounts than LightStream for those looking to borrow $1,000 or more. It also offers a fairly quick funding process — as little as one business day — if you sign all necessary paperwork after loan approval. However, you can’t complete a joint loan application and the origination fee makes it a more expensive alternative to LightStream.


Credit Req.
Origination Fee
APR 5.99%
Credit Req.640Minimum Credit Score
Terms2 to 5Years
Origination Fee0% - 5% of loan balance

See Offers Secureon Lendingtree's secure websiteAdvertiser Disclosure

Payoff Disclosures

  1. All loans are subject to credit review and approval. Your actual rate depends upon credit score, loan amount, loan term, credit usage and history. Currently loans are not offered in: MA, MS, NE, NV, OH, and WV.

Unlike LightStream, Payoff does a Soft Pull credit check so you can see what your rate is before going through with the application process. You’re also not subject to common fees such as application, prepayment and late fees. However, loan amounts aren’t as high as LightStream — up to $1,000 — so this may not be a good choice if you want to borrow more.

Published in