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LightStream

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Most Helpful Positive Review

Dec 18, 2013
Great Process!
gtrudell Loan Holder

Applied for an auto refi. Had a few folowup questions. My loan was approved in hours. Cash should be in my bank account tomorrow. Like the fact that it became an unsecured loan and I will get my title soon with no lien. I will DEFINITELY consider them for loans in the future. Everyone I spoke with was pleasant, understood their job, and added to the overall process. Rate was way better than the dealership offered.

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Most Helpful Negative Review

Mar 28, 2014
Denied with 775 FICO
Anonymous

My wife was denied with a 775 FICO, 8k in checking, 3k in savings, 45k income (verified) for a 10k loan. In addition, phone rep was less than customer service oriented. Went to local bank and received loan without question. Don't waste your time with these folks...there are too many other places to do business with.

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Reviews (231)

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Jul 18, 2016
Good Luck!
Anonymous

Asked for 72K to pay off cards. Have 172k income and 120k 401. Credit is around 700 due the limits reached on cards, 0 lates in past 15 years.

Rep stated they wanted to see more saving and better credit. Why would I save money and earn 1% when I can save 11% on a 12% card by paying it..?

App said prequalified, which I know doesn't mean pre approved, but it did say we want to save you interest by consolidating your outstanding debt. But when they figure your debt to income, they do not remove the fact that you are swapping one for the other. And theirs is probably lower payment than the cards you're paying off. Oh well. their competitors will continue to enjoy the 10-15% percent they get each month from me and SunTrust will get nada.

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Jul 18, 2016
Dumping Suntrust...

I have a high Credit Score and My business put 400K through their bank last year... No More

I got declined in an email. Waiting for the reason. (over a 10K car loan) unbelievable...

I have never been late on anything and I have $176K equity in my house.

If you are self employed dont bother....

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Jul 16, 2016
GIVE IT A SHOT!!!
spegues107 Loan Holder

I found out about LightStream via lendingtree.com. I requested a $20K unsecured loan for debt consolidation purposes. I applied for the loan on Friday July 15 2016. They gave me a call within the hour asking for specifics regarding my credit history. They essentially want to know how have you managed your debt, how did you get into your current debt situtation, and what's different now to ensure that you can make timely repayments and not fall back into the same spending habits.  Shortly after the call, I received an email asking for income verification. Saturday morning, around 9 am ET July 16 2016 I uploaded my most recent paystub (if they request your paystub, it has to be dated within the last 30 days). The same day at 5:40 pm ET, I received an email stating my loan was approved, for the full $20K requested at a fixed interest rate of 9.49% (this is much lower than I was anticipating). I have e-signed the loan documents, and I have received an email stating the funds will be in my account Tuesday July 19 2016. THIS IS THE FASTEST TURN AROUND TIME I"VE EVER EXPERIENCED WITH A LENDING PROCESS! I'm ecstatic and I recommend LightStream to anyone who is in need of a personal loan. You have nothing to lose by applying (lets be real, your credit score can flucatuate just as much as the market), and so much to gain if approved!!!!

My Personal Stats:

690 Credit Score (Experian, Equifax; Lightstream did not pull my Transunion Report).  - This proves you do NOT NEED Perfect Credit to be approved. I would also like to note Credit Karma scores are off substantially. My Credit Karma Score is about 60 points lower than when creditors actually pull it. Do not let the score that shows in Credit Karma deter you from applying. I would personally recommned going to the Experian or Equifax website directly to obtain your accurate score. 

Income: $65K/year 

D/I : 30% 

I have several different lines of credit. Several revolving and installment loans. My credit utilization ratio is 22% (20k Debt / 90K Limit). I'm 27 years old and I've had credit history since I obtained my first credit card at age 18. I've never missed a payment on any of my debts, I don't have any collection items or liens on my credit file. I also have a very large car loan, and about $60K in student loan debt 

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Jul 16, 2016
AWESOME!!!
arugala Loan Holder

I applied for the loan, and was approved for an unsecured loan within 15 minutes, my credit numbers are only in the high 600, still approved! the money was in my account the following morning, and since the loan is unsecure, i didnt have to put them down as "lienholders" on the auto, which means - the title is mine and i dont have to carry the higher insurance coverage like i would with an auto loan, total win, win!!!. i was able to tailor my loan for as many months as i want, which lowered my payments, so happy with this lender. the credit unions are RIDICULOUS with their rules and fees. Since i went with Lightstream, i was able to save myself $200 a month between the car insurance and loan payments!!! AWESOME!

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Jul 16, 2016

Hello, I found your review very helpful. I am looking into applying for a light stream loan, and was curious if you were willing to share how much the loan was for, how much income you put down, and if you had to verify income or not? It would be greatly appreciated!- A self employed investor.

 
Jul 13, 2016
Refinancing Auto Loan
Anonymous

Folks,

Never, I said never apply through them. I was declined with 770 FICO credit score. Not waste your time with them, totally unprofessional, rude, and never even call back.

Morover, they sell my data to the thrid party company, which used it to reapply for the loan I never asked.

Never. please never apply. I agree that its much better to go to the some local bank

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Jul 13, 2016
Personal Loan.

Denied with a 763 Fico and over 70,000.00 in income. Apparently they don't like doing business with sales people.

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Jul 10, 2016
Fast and easy process
Anonymous Loan Holder

I applied for an auto loan with an experian score of 790+ as shown by Credit Karma. Approved at their lowest rate of 1.99%, but when I checked lightstream's documents after the fact they showed that I had an experian score of around 760 (pulled on the same day as the CK score). In other words, they use a different scoring model than CK's more generic score so don't assume that a high score under one model guarantees approval/low rate (although it did in my case and I couldn't be happier)

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Jul 08, 2016
Waste of Time!
Anonymous

A complete waste of time denied for a $10k motorcycle loan with a 837 credit score and a income of $60k+

16 year homeowner with over $200K in equaity home value and $25k liquid assets......save the hard pull on your credit and go to a real bank with real people!

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Jul 05, 2016
NIGHTMARE!
bmwbiker Loan Holder

Miserable, Frustrating, Nightmare.

I applied for a loan on Friday morning, the application was quick, easy and fast.

2:55 Friday a confirmation was sent to my account that the funds have been wired, except they never arrived into my banks account that day, I was told to wait until monday at 8:30, which turned into 12:30. Now I have been on the phone back and forth all day between two banks pointing fingers at each other. Lightstream is adament they sent the funds and it isnt there problem anymore. My bank insists the funds simply do not exist and the confirmation number i give them is bogus. My credit record is showing a charge for 13k dollars.

Customer service is not helpful, even condescending and rude to me on the phone they give me a huge giberish number and tell me good luck with my bank. I give huge giberish number to my bank and they tell me it does not exist and its a bad confirmation code. Lightstream tells me sometimes these things take a few weeks to sort out Meanwhile a car I paid a 500 dollar non refundable deposit on is sitting and ill lose both my deposit and the car (a fairly rare one)  by end of the week.

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Jul 02, 2016
Denied with 765 FICO and over 20% down?
Anonymous

It was for home/cabin/cottage. Lightstream thought it was a tiny home? I explained that it was a remote cabin that didn't qualify for a tradditional mortage loan. They kept callling it a tiny home and asked for its street address...remote cabin in Alaska...no roads....no addresses... Denied...They seemed like they really got hung up on the address thing? I gave GPS coordinates but I guess they didnt' like that. I applied for a "other" loan...and listed "home purchase" to describe it. In retrospect I would've likely gotten the loan if I had just applied for straight signature loan.

I don't recommend them. They are a division of SunTrust Banks, and I don't have many good experiences with them.

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Company Overview

LightStream is an online consumer lending division of SunTrust Bank, a Georgia banking corporation. LightStream offers a virtually paperless application, approval, signature, funding and servicing process allowing you to save not only on our natural resources but on expenses as well.

Borrowers can apply online and list loan requests ranging from $5,000 to $100,000. They offer fixed rate, simple interest installment loans all with no fees or prepayment penalties. You can set up an account online making monthly payments easy for borrowers to manage.

Founded in 1985, SunTrust is headquartered in Atlanta, Georgia. SunTrust has 1,659 bank branches throughout the Southern states.

**Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based on analysis of information provided by the consumer and available rate information from lenders. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 12%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Additionally, model year, loan-to-value, minimum loan balance mileage, income, debt, etc. restrictions may apply. When evaluating offers, please review the lender’s Terms and Conditions for additional details.