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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 (207)

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May 24, 2016
Great experience
Anonymous Loan Holder

Wonderful experience will probably use LightStream for all of my future loan needs. I applied for a loan to pay for some work we are having done to our backyard/landscaping. I was approved within an hour and the funds were in my account the next day as promised. Easy process! 

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May 24, 2016
Denied with 743 fico
Anonymous

I was denied a $14k loan with a 743 fico and zero debt to my name. This company is a joke forget about talking to a real person. No contact info other than emails. Do yourself a favor and go to a credit union. 

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May 23, 2016
Denied with 790 FICO

I applied for a 30K loan to refinance an existing loan with another lender.  I just wanted to go from a 36 month to a 60 month term with a lower interest rate.  I was denied like so many others with good credit scores & history.  What bothers me the most about LightStream is that when I tried to log back in to read why they deined me, my account information was no longer valid.  I could not log back in.  

This lender should really be removed from Credit Karma.  People come here to manage and optimize their credit, not to have their credit dinged by a hard pull from a lender that doesn't play by the rules.

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May 17, 2016

I applied for a consolidation loan cause I don't want to refi my home.  They said the amount requested was too high and they made a counter offer.  I accepted the counter, faxed their required documents (which cost money) and they denied their counter offer.  Not mad about the denial.  I have an excellent payment history, so I will continue same.  I'm upset because they now have personal information I would not have sent if not for accepting the counter offer.  Warning.....wait a couple of days before sending personal information.

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May 16, 2016
Anonymous Loan Holder

This was the fastest loan process I have ever had. In less than 15 minutes I had my GREAT rate and in less than 1 hour my loan was approved and even had the option to have my loan funded the very next day.  My credit was far from perfect and even included a dicharged bankruptcy. I expected a much higher rate as the lowest I was quoted from others was 16.9%. LightStream gave me a rate of 4.9 with plenty of options for a higher loan, terms and rates. This is they way to do business and I will be sure to go to LightStream in the future.

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May 16, 2016
Dont want to do budiness with you
Anonymous Loan Holder

I have an 830 fica score and there making me a fair risk I just bought a car with am excellent review not sure where they get there. Numbers

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May 06, 2016
Quick, easy, and cheap!
Anonymous Loan Holder

If you can qualify for a LightStream loan, they're awesome. I just bought a new car with a LightStream loan and the process couldn't have been easier. I applied online and they called me 45 minutes later and asked me some follow up questions. Half an hour later, I was approved and I had the money in my checking account the next day. Since it's an unsecured loan, you can just tell the dealership you're paying cash, which makes the buying process simple and quick, too.

LightStream gave me the best rate I could find, by a good margin. My loan is at a 1.99% interest rate; the second best I could find was 2.39% at my credit union.

Most of the bad reviews of LightStream seem to be people who were rejected. LightStream has stricter loan requirements than anywhere I've encountered. That's how they offer such low rates on unsecured loans. Don't assume that a credit score in the mid-700s will be enough. There's a good chance it won't be.

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May 05, 2016
Fast and easy process
Anonymous

Overall, this was a great experience. I was approved for 90k 36 month loan at 3.99%. I subkitted everything online and received followup the next day requesting pay stub and bank statement, showing liquid funds. Very easy to upload these documents using their online portal. Was approved for the loan within a few hours of uploading the documents.

Stats: Credit Score: 809, Liquid funds: 80k, Income: 470k, 140k credit limit on credit cards that is paid off every month in full and multiple lines of revolving credit: car, home, rental income property mortgage.

Most of the negative comments on here are from people who are upset for the not being approved, which is reasonable to be upset but does not make Lightstream a bad company. They offer a great loan product at an exceptional rate when considering it is unsecured! they are able to offer this because they have very strict standards to minimize their risk.

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May 04, 2016
WASTE OF TIME
Anonymous

Applied on line for an auto-refinance to lower interest rate. good credit, steady income, extra part time job, little debt.. denied. should have listened to reviews. Stay away and save your credit score.

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May 04, 2016
Denied approval with a 760 FICO Score
Anonymous

Terrible option for a loan. Great credit, 760 FICO score and still denied my application. This business won't be around long. Try SOFI.com, I was approved by them for a $35k loan in one hour and received the funds next day with better interest rate than Light Stream.

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May 19, 2016

Let's let the people know that SOFI does NOT have Auto Loans, ONLY Mortgage, Personal, and Student Loan options. You must've done the Personal Loan route with getting a car, unless it was a Mortgage or Student Loan. I'm personally looking into Auto Loans.

 
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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.