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LightStream

4.6 out of 5 stars
24 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

3.5 out of 5 stars

Customer Service

3.5 out of 5 stars

4.5 5

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These reviews were written by current and former borrowers in the last year.

Nov 03, 2016
Professional, reputable, fairly priced
Anonymous Borrower

Light Stream was one of the best companies I have ever dealt with.  Their fair, no hassel approach to obtaining a loan helped me toward my goals.

Would do business with them again in a heart beat!

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Oct 19, 2016
Flawless
Anonymous Borrower

I have a credit score above 820 when i applied. The process was pretty flawless, except having to talk with them on the phone since i am self employed. They approved the loan within a week and funding was available immidiatly. If you have a questions, they reply within 24 hours. 

I wish my mortgage was being handled by them. 

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Oct 15, 2016
Fast, no fees, low interest rate
Anonymous Borrower

Income ~100k, credit score 720-750, applied for $17k used car loan and was instantly approved at the lowest rate (1.99% at the time).  Easy process to direct deposit into my checking account.  Lightstream explicitly asked NOT to be a lienholder on the car title, so that was one fewer step in purchasing the car.  No initial fees, no fees to pay off early.

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Nov 03, 2016

Would you mind sharing your credit utilization? I match your income and score but I have 51% UTIL. I'm afraid I'll be rejected because of heavy UTIL. I appreciate your help!

 
Oct 04, 2016
Quick and easy transaction!
mzindira Borrower

I bought a certified used SUV in March 2014. This is my third dealer purchase and I should've known better, but I put nothing down because I was going on maternity leave and bought it before pulling my credit. D.U.M.B. The dealership offered me a deal where I wouldn't have to pay at all for three months. Did I mention I was 45 days from maternity leave? I thought I'd refinance as soon as the 90 days were up, except I kept finding more things that my little bundle of joy "needed" and my credit score was steadily dropping. So, I couldn't beat the 7.09 I had without a significant downpayment, which I didn't have. 1 year later, when my credit score is good enough to refi and I had made enough extra payments to get me under 125% LTV, I have an accident. Back at 150% LTV. 

Lightstream to the rescue! I got a preapproval letter in the mail and ignored it. Yesterday, I thought about it and researched them and decided to apply. I got an email 20 minutes later saying it was in process. Recieved an email about an hour later saying it was approved and to log in for funding information. Logged in, saw an approval at 2.24 for 36 months, allowing me to pay off my loan a year early (yes I even stretched the payments 72 months: for shame) and keep the same payment. I accepted and e-signed the loan and this morning by 10:00AM, the funds were in my bank account.

When I purchased my vehicle, my auto-enhanced credit store was 685. When I applied yesterday, my auto-enhanced was 743. My actual credit scores were 701 (2014) and 749 (yesterday). Other reviews have stated that they are looking for 800+ , so this is not the case. I was terrified of being declined, but other than an inquiry (which I'm not buying anything else any time soon), it was worth a shot for me. It is an unsecured loan, so if you have prior defaults on credit cards on your report or move a lot, I'm not sure how likely approval odds are. I have had higher scores and lower scores and I promise, sometimes I don't know what these lenders are thinking. I applied to refi last year with an auto-enhanced of 803 and was told by a lender that I had to put down $4500 (this was a lender that does not advertise LTV limits).  If you're considering it and you know your credit score is 740-760+, I'd definitely go for it.P.S. Don't use Credit Karma scores. They are FAKOs, go to myfico.com and get your real score.

Good Luck!

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Oct 04, 2016
Quick and easy transaction!
mzindira Borrower

I bought a certified used SUV in March 2014. This is my third dealer purchase and I should've known better, but I put nothing down because I was going on maternity leave and bought it before pulling my credit. D.U.M.B. The dealership offered me a deal where I wouldn't have to pay at all for three months. Did I mention I was 45 days from maternity leave? I thought I'd refinance as soon as the 90 days were up, except I kept finding more things that my little bundle of joy "needed" and my credit score was steadily dropping. So, I couldn't beat the 7.09 I had without a significant downpayment, which I didn't have. 1 year later, when my credit score is good enough to refi and I had made enough extra payments to get me under 125% LTV, I have an accident. Back at 150% LTV. 

Lightstream to the rescue! I got a preapproval letter in the mail and ignored it. Yesterday, I thought about it and researched them and decided to apply. I got an email 20 minutes later saying it was in process. Recieved an email about an hour later saying it was approved and to log in for funding information. Logged in, saw an approval at 2.24 for 36 months, allowing me to pay off my loan a year early (yes I even stretched the payments 72 months: for shame) and keep the same payment. I accepted and e-signed the loan and this morning by 10:00AM, the funds were in my bank account.

When I purchased my vehicle, my auto-enhanced credit store was 685. When I applied yesterday, my auto-enhanced was 743. My actual credit scores were 701 (2014) and 749 (yesterday). Other reviews have stated that they are looking for 800+ , so this is not the case. I was terrified of being declined, but other than an inquiry (which I'm not buying anything else any time soon), it was worth a shot for me. It is an unsecured loan, so if you have prior defaults on credit cards on your report or move a lot, I'm not sure how likely approval odds are. I have had higher scores and lower scores and I promise, sometimes I don't know what these lenders are thinking. I applied to refi last year with an auto-enhanced of 803 and was told by a lender that I had to put down $4500 (this was a lender that does not advertise LTV limits).  If you're considering it and you know your credit score is 740-760+, I'd definitely go for it.

Good Luck!

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Sep 30, 2016
Used car auto loan/line of credit
ntonet Borrower

By far and away the fastest and easiest application for a loan that I've ever gone through. The entire process was done online without any direct human interaction (no phone calls, etc). It took between 5 and 10 minutes to complete the credit application. After I submitted my application I received an email stating that my application was being reviewed and that I should expect a response within a few hours. True to their word, within an hour or two I received an email stating that my application had been accepted and that the funds would be credited to my bank account within 24 hours. Unsurprisingly, the money arrived in my bank account the next day.

To sum it up, this process was the loan equivalent of shopping on Amazon. I found the loan I wanted, applied for it online, and very quickly received the funds. I'm still stunned about how easy the process was. Other great benefits are that the product is a line of credit rather than a traditional auto loan which would require placing a lien on the car and complicate the buying and loan process. Finally, the rate was EXCELLENT at only 1.9% for 5 years!!!

I had to write this review to help people understand how great this lender is and that you should definitely give them a try. I would imagine that they would require excellent credit since they are granting lines of credit rather than loans that place liens against assets so perhaps this is why some people aren't giving 5-star reviews. Nonetheless, if you have excellent credit then you must try them out!

One last thing, it was my roommate who told me about LightStream after he used them a few weeks ago to get a line of credit to buy a new car. He has very good credit but is only 27 and hasn't owned a home yet, so it is certainly possible to get a loan from LightStream even if you don't have a very long credit history!

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Aug 30, 2016
Fast and Easy Unsecured Loans
MichaelK02 Borrower

With reading some reviews here and seeing only 3 stars, I thought Lightstream may have been a scam. A loan for everything? A loan for a Hot Tub? 1.99% interest? It seemed to good to be true. 

After a little bit of digging I found out, and I hope this is helpful to anyone reading, that their business model is simple: Provide unsecured loans for extremely risk free individuals. It was also clear that several people on this site had great credit, have been denied simple loans, which led to some nasty 1 star reviews. 

So If you are considering a loan from here you should go into it with eyes wide open.

First, they are a great company to do business with. It took me ten minutes to sign up. I never talked to anyone. Got 18K in my account the next day. And because they offer unsecured loans, you dont have to provide any additional information. Which also explains why they ofter loans for everything. This was strange to me and took some getting use to. It also makes the process super simple. 

Second, be prepared to be denied even with awesome credit. You may also get a hard inquiry hit on your credit score and should be aware of those ramifications. 

I dont normally like to list my information but if it helps, my wife an I cosigned on this loan. We have the same 816 score right now and have never missed a payment on anything. We have a house loan and use and payoff about 5K of 100K in credit card balances each month. No other loans. 

Good luck and I hope it works out for you.

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Sep 01, 2016

This is indeed a legitimate company. Its a subsidiary of SunTrust Banks, hence the similarities in the Logos. As you stated, the drawback is that you have pretty stellar credit because the loan is unsecured and there is no collateral. Because of the streamlined online process, the interest rates are usually pretty good.

 
Aug 10, 2016
Easy & FAST
wizrrd Borrower

I have about 800 credit score and overall great credit factors. My avg credit history is only 2.5 years.

I applied for a 13k used auto loan, got a phone call about 1 hour later to clarify a couple details, and an hour after that I was approved for a unsecured loan of 13 thousand!

The application was easy, the customer service was polite and helpful, the whole process was pretty much painless. I plan on recommending this service to my friends and family

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Jun 18, 2016
Fast, No Fees, No Collateral Needed
790Fico Borrower

I refinanced my truck.  Got 3.44% (a litle high, I know), but my first payment wasn't due for about 7 weeks, and they didn't want collateral!  So, my previous auto finance company released their lien, and I now have the title!  I could lower my insurance coverage if I so chose, plus there's just something about having the title in hand!

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Jun 12, 2016
Terms were changed! Very misleading.
cnvnmnrn Borrower

I was approved for a 5.99% loan. I emailed the required information. Then when the loan was sent, the rate had changed to 10.99%. Very misleading and unprofessional!!

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