topic Re: Lightstream Personal Loan Approval in Personal Finance

Lightstream Personal Loan Approval

Anonymous — Thu, 09 May 2019 03:27:59 GMT

Got approved for a 10k lightstream personal loan today! After getting denied at several different banks and CUs. Including: penfed cu, avant, sofi, etc.. I was just so surprised after hearing how difficult getting approved for a lightstream loan can be.

Background, average credit age 2 yrs 9 months, 15 inquirys, 18 accounts open and closed with 3 CCs 3k limits each and 2 personal loans mariner 3.5k, lending club 4.2k, one car loan, several installment loans (affirm). Lightstream pulled equifax with 678 score.

Re: Lightstream Personal Loan Approval

Anonymous — Thu, 09 May 2019 04:18:13 GMT

Yes, I also heard Lightstream was difficult. What are the terms? What documentation or POI did they ask for?

Re: Lightstream Personal Loan Approval

LakeLife — Thu, 09 May 2019 13:59:08 GMT

This is the 2nd recent positive report about them on this forum. If I ever find myself in a need for a low interest unsecured loan I will definitely look at them. Congrats!

Re: Lightstream Personal Loan Approval

wingennis — Thu, 09 May 2019 15:00:47 GMT

I was also approved for 10k by Lightstream this week. I was very surprised because I moved a week ago and my address should not have matched up when they ran my credit (EQ only). I applied Tuesday evening and I received funds this morning. The least stressful financial transaction I've ever had

Re: Lightstream Personal Loan Approval

Anonymous — Thu, 09 May 2019 15:31:04 GMT

No POI, terms were 48 months at 13.5% or 60-72 at 14.5%. Not great but better than everything else Ive been offered and much better than the 36% its paying off.

Re: Lightstream Personal Loan Approval

Anonymous — Thu, 09 May 2019 15:31:27 GMT

Thanks!

Re: Lightstream Personal Loan Approval

huntersimp — Thu, 09 May 2019 19:29:04 GMT

Do you know what version EQ they pulled?

Re: Lightstream Personal Loan Approval

Anonymous — Thu, 09 May 2019 19:39:02 GMT

Not sure, it doesnt say on the report. Just EQ and the score.

Re: Lightstream Personal Loan Approval

Anonymous — Thu, 09 May 2019 20:34:05 GMT

Congrats and thanks for the DPs! In about a month or two when/if my scores go up i'll be looking into lightstream as well.

Re: Lightstream Personal Loan Approval

Five6Two — Thu, 09 May 2019 21:41:30 GMT

Loving these Lightstream approvals, wish I had taken the HP with them before going with Marcus by Goldman Sachs. Congrats, OP!

Re: Lightstream Personal Loan Approval

Anonymous — Fri, 10 May 2019 02:10:36 GMT

@Five6Two wrote:
Loving these Lightstream approvals, wish I had taken the HP with them before going with Marcus by Goldman Sachs. Congrats, OP!

What don’t you like about Marcus?

Re: Lightstream Personal Loan Approval

Five6Two — Fri, 10 May 2019 18:37:57 GMT

@Anonymous wrote:
@Five6Two wrote:
Loving these Lightstream approvals, wish I had taken the HP with them before going with Marcus by Goldman Sachs. Congrats, OP!
What don’t you like about Marcus?

Didn't offer enough context, my apologies. Marcus has been great and they were quick at distrubuting funds. My EQ score/report has always been stronger than my TU, which is what Marcus pulled. I believe I would have been offered a lower APR with Lightstream but was reluctant when I read on their website that they pull EX and EQ (double pull). I know INQ do not have long term impact but I was going to apply for a CC later that month and did not want to appear as "credit seeking" or "escalating debt".

Re: Lightstream Personal Loan Approval

CreditCuriosity — Mon, 13 May 2019 18:57:45 GMT

@Anonymous wrote:
@Five6Two wrote:
Loving these Lightstream approvals, wish I had taken the HP with them before going with Marcus by Goldman Sachs. Congrats, OP!
What don’t you like about Marcus?

IMO Marcus is too greedy... Tried for a personal loan with then with a > 800 fico and they offered me a rate of about 16-18%, can't remember off hand. How is that at all competive for excellent credit? I laughed when i saw the rate + origination fees. I think they use to be better with rates when they were first getting started, but have since been getting more greedy as barclay's offered my 7.99 or 8.99 depending on terms. Not in a hurt though as I with either just pay it off or get the best terms of approx 6% which makes lightstream somewhat compelling to look at as well. As have a personal loan with PenFed at 12.99, but that is when i still had a few dings on my CR from a year+ ago when i started that, so was looking for a better options which they exist and some of those are Lightstream, Barclay's So-fi and the likes.

Re: Lightstream Personal Loan Approval

althes — Thu, 16 May 2019 15:06:37 GMT

Thanks for that explanation.

I am considering Marcus, becuse I have a ding on my EQ that I have to wait to be removed before I try Lighstream.

Also need to get a few cards utilization down a bit.

Re: Lightstream Personal Loan Approval

Anonymous — Sun, 22 Sep 2019 01:08:51 GMT

Just got funded with LightStream for debt consolidation. My score is around 660 or so and I was approved at 16.5%. Not spectacular rate but better than what the other online lenders offered.

Was very easy. Got the automated approval and then the underwriter gave final the same day. Didn't ask for any income docs or bank statements.