Comprehensive Guide to LightStream’s Debt Consolidation Loan Options
Discover everything about LightStream’s debt consolidation loans, including eligibility, loan amounts, interest rates, and the application process. Learn how these loans can streamline your debt payments with flexible terms and no hidden fees. Ideal for consumers with good credit seeking lower rates and quick funding options.
LightStream, a division of SunTrust Bank Inc., offers specialized online loans for debt consolidation tailored to consumers with strong credit profiles and low debt-to-income ratios. Applicants generally need a minimum credit score of 720 to qualify. These unsecured loans come with competitive interest rates, helping borrowers reduce their monthly payments and save money. The funds are strictly for debt repayment purposes outlined in the application; they cannot be used to pay off other LightStream loans or fund businesses.
With loan amounts from $5,000 to $100,000 and flexible repayment terms from 24 to 84 months, borrowers can customize their repayment plans. Faster approval processes are possible, with some receiving funds on the same day. No origination, prepayment, or late fees are charged, and interest rates vary based on creditworthiness and autopay options.
Automatic payments can lower interest rates to as low as 5.49% APR for loans between $10,000 and $24,999 with 24 to 36-month terms. Without autopay, a 0.5% fee applies. The application process is simple and efficient, requiring personal information such as Social Security number, birth date, and contact details, with some borrowers qualifying for same-day funding.
