LightStream Personal Loan review

LightStream's personal loans are a strong credit borrower's delight with no fees, lows rates and co-sign options.

(Image: © Lightstream)

Top Ten Reviews Verdict

LightStream offers some super low staring rates and the bonus on no fees to pay. While you will need a good credit history to qualify, and may have to go through a hard qualification process, it can be worth it for up to $100,000 in a flexible loan. A price under-cutting for the competition makes this even more appealing.


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    No fees

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    Price undercutting

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    Low starting rates


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    No pre-qualification

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    Many years of credit history needed

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If you're looking for one of the best personal loans, then one of the stand out offerings has to be from LightStream. This personal loan deals out some of the lowest starting rates there are and even gives incentives for certain types of loan specifically.

If you're looking to make some home improvements this is an ideal loan option as it offers specific terms for that. You can stretch your repayments to a whopping 12 years if you need to, making even larger home renovation jobs within reach.

There is a hard check on these loan options, so if you have anything less than good credit you may be declined and that could affect your credit score.

These loans stretch all the way up to $100,000 and with no fees and a fixed rate it makes for a very secure way to get credit.

If you think you've found a better offer elsewhere you can go to LightStream with the details and get a rate beat, meaning it will undercut that rate to help you save even more.

This is a well reviewed loan by customers with lots of great features making it super appealing - here's everything you need to know about LightStream.

Compare personal loan rates at Credible

Compare personal loan rates at Credible
Credible is the perfect place to start your search for personal online loan rates. It gets rates from hundreds of banks and lenders for you, so you don't have to fill out the same details again and again.

Cost: How much does LightStream charge?

LightStream Personal Loans: Key Figures

APR variable: 4.49 - 17.49%
Loan range: $5,000 - $100,000
Min credit score: 660
Term: 2-12 years

  • Minimum APR: 4.49%
  • Maximum APR: 17.49%

The LightStream rates start at some of the lowest out there for a big loan like this $100,000 limit offers. Rates start at 4.49%, which is lower than rivals like Marcus by Goldman Sachs and Upstart, and carry on up to just 16.79%, so still not too bad even at the top end then.

This rate is for a fixed APR loan and does include the option for an AutoPay discount. The repayment plans vary but the option to pay it back quickly starts at 24 months and goes all the way up to 144 months.

What you actually end up paying will vary depending on your credit score and other factors. 

LightStream Personal Loans review: Home improvement specialist

  • Get up to 12-year loans
  • Pay lower monthly amounts

The LightStream loan specifically aims to help in certain areas, one of those being home improvements. 

If you're taking out a loan of between $5,000 and $100,000 specifically for a home improvement project then you could qualify for an extended loan of up to 12 years.

This loan does not require any special appraisals or home equity in order to pay out the cash for the job. Interest rates start as low as 5% for these types of projects.

For these home improvement jobs you can enjoy a longer repayment plan in order to cut down the payment amounts from month to month. These are ideal for things like kitchen remodels, swimming pools or solar panel installation.

LightStream Personal Loans review: Rate beat

  • Rates undercut by 0.10%
  • Evidence required

LightStream does do well to keep up with the competition by offering a rate beat program. This is aimed at price matching the other loan offerings out there so you get the best rate from LightStream. It says that it will beat a competitor's interest rate by one-tenth of a percentage point.

You will be required to prove this other rate by showing that you have already been approved by the competitor for a regular fixed-rate loan with the same amount, term, purpose and payment method.

LightStream Personal Loans review: Quality guarantee

  • £100 back for unhappy borrowers
  • Within first month

So confident is LightStream that it will offer you money back if you're not happy with your loan. 

As long as you apply within 30 days of taking out your loan you are eligible to receive $100 cashback as an apology. You will simply need to contact the company and fill out a questionnaire. 

LightStream Personal Loans review: Requirements to qualify

  • At least a 660 credit score
  • 850 FICO

You will need to have a fairly decent credit score to get a loan with a 660 minimum and up to 850 FICO. You also need to be over 18, or the state minimum, whichever is higher.

You don't need to make a minimum income to get a loan. In fact LightStream will even consider loan applications if you don't have a job, as long as you can prove your ability to repay the loan.

The process is online and will involve you sharing details including any of this lot:

  • Active and valid checking account
  • Recent pay stub
  • Proof of income
  • Driver's license
  • Proof of citizenship or residence permit

LightStream Personal Loans review: Fees

  • No fees
  • No charge for paying out early

The LightStream loan has no fees to pay. That means there isn't an origination fee at the start, nor is there a charge for late payments. You also don't have to worry about a prepayment fee. This means, if you want, you can pay the loan off early without needing to pay a charge for the privilege.

LightStream Personal Loans review: Application process

  • Hard pull
  • Minimal requirements

Unfortunately LightStream will hard pull on loan applications that originate on its website. This means that if you don't pass the credit check it could negatively affect your credit score. 

There are ways around this like using a soft check application process through a third party website like NerdWallet. This will allow you to pre-qualify without the risk of your credit score being affected.

LightStream Personal Loans review: What users say

  • JD Power 4-star rating
  • Total points of 887

JD Power gave LightStream a superb four-star rating with 887 points out of 1,000 for its personal loan satisfaction study. This means customers found it to be one of the best personal loans out there in 2019.

LightStream was awarded four stars for billing and payments but got five stars on the other three assessment areas of interaction, loan offerings and terms, plus applications and approval process.

LightStream Personal Loans review: Verdict

LightStream is one of the best online personal loans out there according to customer feedback. The rates are some of the lowest available while the loan amounts top out at a high $100,000 top-end. 

Repayment methods are varied, meaning your APR can be tailored to suit what you need based on how long you want to pay the loan back with a maximum of a whopping 12 years for home improvement loans. 

A hard pull may be off-putting to those with lower credit scores but since everything is clearly explained this should not be a problem for anyone that knows they're well rated. The price match, which aims to undercut the competition really is the icing on this tasty loan cake.

Compare personal loan rates at Credible

Compare personal loan rates at Credible
Credible is the perfect place to start your search for personal online loan rates. It gets rates from hundreds of banks and lenders for you, so you don't have to fill out the same details again and again.

Luke Edwards

Luke is a veteran tech journalist with decades of experience covering everything from TVs, power tools, science and health tech to VPNs, space, gaming and cars. You may recognize him from appearances on plenty of news channels or have read his words which have been published in most tech titles over the years. In his spare time (of which he has little as a father of two) Luke likes yoga, surfing, meditation, DIY and consuming all the books, comics and movies he can find.