How do LightStream Personal Loans work?

Keep reading to find out: How it works, fees, loan amounts, and much more.

Do you know LightStream? One of the top online lenders offering loans to customers with good or excellent credit.

LightStream offers loans for a variety of needs and offers the best rates. When it comes to security and benefits, LightStream is a leader in this regard.

How do LightStream loans work?

LightStream loans are super flexible and offer low interest and fixed rates. In this way, it is possible to have much more security when applying for a loan.

Interest rates vary according to the purpose, amount, payment term, and profile of the applicant.

One of the great advantages of LightStream loans is that they do not charge fees for late payments or prepayments.

In addition, you can apply for the loan for several purposes, see below the main ones.

• Medical expenses
• Finance a vehicle
• Home improvements 
• Medical expenses
• Wedding costs
•  Debt consolidation 

How much can I borrow with LightStream?

Depending on your loan purpose and indicated for people who have a good/excellent credit history, it is possible to borrow between $5,000 and $100,000.

Does it have fees?

• Loan amounts: $5,000 to $100,000
• APR range: 4.99% – 20.99%.
• Minimum credit score: 660.
• Loan terms: 2 to 7 years.
• Fees: Non-applicable.  

How to qualify for a LightStream personal loan?

There are many factors to qualify for a LightStream loan, however, there are factors that are crucial that can determine whether you will get the loan or not.

First, a good credit history, that is, you need to have enough assets and income to support the loan amount, furthermore, your score must be above 660.

In this way, we can say that to have more chances of getting approved, the bank must be sure that you will be able to pay the amount you want to borrow.

However, it is worth pointing out that meeting the requirements does not guarantee approval, but it can give you more chances of getting a loan.

How to apply for it?

It is very easy to apply for LightStream Loans and you can do it in minutes. The bank offers an online application process, so you can apply for it from wherever you are.

So, check below what is needed to get the loan.

•  Contact and personal information
•  Loan purpose, term, and amount
•   Payment method
•  Employment information
•  Current expenses

How long does it take to be approved by Wells Fargo?

It is possible to be approved in a few minutes. If applying on business days, you can be approved within 24 hours, but some cases can take up to 48 hours.

Frequently asked question:

Is it difficult to get a LightStream loan?

It might be for some people since to qualify for a LightStream loan, you must have a minimum FICO credit score of at least 660.

Does LightStream have pre-approval?

It does not offer a pre-qualification process, in this way, you need to apply and submit a credit check, only then it will be possible to know if you meet the necessary requirements to get the loan.

Is it possible to apply for 2 LightStream loans?

Yes, it is. However, it is important to make sure that you will be able to manage them all responsibly.