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Everything You Need To Know About Debt Consolidation Loans Provided By LightStream

LightStream is a national online lending division of Sun Trust Bank Inc., a leading financial services company, that offers debt consolidation loans and credit card consolidation loans to consumers with good credit and who demonstrate a low debt to income ratio. LightStream requires borrowers to have a minimum credit score of 720 to be eligible for availing a loan.

LightStream offers lower interest rates on unsecured debt consolidation loans, thus allowing consumers to save money on their monthly consolidated loan payments.

Everything You Need To Know About Debt Consolidation Loans Provided By LightStream
LightStream has a strict policy whereby borrowers cannot use the money received for any other purpose other than that which is mentioned in the application. Borrowers cannot use it to pay off any current LightStream loan or for funding their businesses.

LightStream debt consolidation loans allow consumers to roll multiple credit card payments or other interest payments into one single monthly payment. Consumers can take a loan for an amount ranging between $5000 and $100,000. The debt consolidation loans come with optional terms such as 24 to 36 months; 37 to 48 months; 49 to 60 months; 61 to 72 months; and 73 to 84 months. Each loan term and its corresponding loan amount have its own fixed interest rate, which is decided based on the borrower’s creditworthiness. For instance, the interest rates are as low as 5.49% APR if you choose to enroll to automatic payment for loans between $10,000 and $24,999, with a loan term between 24 and 36 months. If you don’t chose autopay, LightStream charges an extra 0.5% on the APR as a personal check-processing fee.

The application process is quick and easy, and LightStream doesn’t take too long in giving its decision with regards to the application approval. This is despite the fact that it is bank owned. LightStream requires personal information such as the social security number, date of birth and contact information at the time of the application. Consumers can even avail same day funding sometimes. LightStream does not levy any origination, prepayment or late fees.

Disclaimer:
The information available on this website is a compilation of research, available data, expert advice, and statistics. However, the information in the articles may vary depending on what specific individuals or financial institutions will have to offer. The information on the website may not remain relevant due to changing financial scenarios; and so, we would like to inform readers that we are not accountable for varying opinions or inaccuracies. The ideas and suggestions covered on the website are solely those of the website teams, and it is recommended that advice from a financial professional be considered before making any decisions.

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