What score is needed?

[MeCasa]

To get a loan from someone like Lightstream. $100,000 for 10 years. What score is necessary, I have a score of 720. Will that be enough. I don't want to ask if the answer will be no.

Thanks :-)

[MeCasa]

I'm looking for some parameters on consumer loans from a company such as Lightstream.

Thanks in Advance :-)

[SouthJamaica]

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@MeCasa wrote:

I'm looking for some parameters on consumer loans from a company such as Lightstream.

Thanks in Advance :-)

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I had a loan from them. They were user friendly. Rate was fair. Not counted as a consumer finance agency, since the lender is actually a bank.

[GApeachy]

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@SouthJamaica wrote:

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Not counted as a consumer finance agency, since the lender is actually a bank.

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My best loan offers, before the merger between Suntrust and BB&T, were from Lightstream.  So Lightstream is now offered from Truist I do believe.  Can't offer up anything else except they had the best rates, etc. for myself.  

OP, do you do business with Truist or had any banking history with Suntrust or BB&T?

[MeCasa]

I don't know the definition of consumer. I have always thought of consumer loans as no collateral loans. Just lent you money on credit ......if your credit was good enough. I've borrowed from Lightstream before and I liked them (would be better if they had phone).

I've heard that they are highly structured no meet the criteria....no loan,  meet criteria....loan

I want to know the credit score necessary to float $100,000 for 10 years.

I think I have it but want to make sure before I apply

Mike

[OmarGB9]

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@MeCasa wrote:

I don't know the definition of consumer. I have always thought of consumer loans as no collateral loans. Just lent you money on credit ......if your credit was good enough. I've borrowed from Lightstream before and I liked them (would be better if they had phone).

I've heard that they are highly structured no meet the criteria....no loan,  meet criteria....loan

I want to know the credit score necessary to float $100,000 for 10 years.

I think I have it but want to make sure before I apply

Mike

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I'm fairly certain consumer refers to personal/public loans as opposed to say business/commercial loans.

In any case, Lightstream isn't talked about *too* often on here, but you may want to go take a look over on the "Personal Finance" section of the forums. That typically deals with banking and personal loan things.

[MeCasa]

I have a business, a window company but I never saw a difference in the loans. What you do with the money is your business unless specified and collateralized. And I'm doing neither.

I think you're right, I'll try personal....Thanks  :-)

[Jnbmom]

Please refrain from posting multiple threads on the same topic .

https://ficoforums.myfico.com/t5/General-Credit-Topics/The-correct-board/m-p/6677533#M327480

[MeCasa]

BTW. I currently have a Lightstream loan with a $12,000 balance and I can pay it off if you think it would help....it's a good interest rate though.

[MeCasa]

I'm new. The other post asked which board to post on, I got the answer.....agreed ....posted on the suggested board.