Yes, LightStream Finance is a legitimate company. They are an online lender that specializes in personal loans, auto loans, home improvement loans and more. They are a subsidiary of SunTrust Banks Inc.
and have a reputation for providing transparent and competitive loan rates, flexible terms and excellent customer service.
LightStream Finance is committed to offering their customers secure loan applications and processing that is both quick and easy. They are also known for their excellent customer service and no hidden fees policy.
Furthermore, they work hard to ensure borrowers can get the best loan options and terms that are tailored to meet their specific needs.
LightStream Finance has been in operation for more than 10 years and has earned a good reputation for providing excellent loan products and rates to its customers. They have an A+ rating from the Better Business Bureau and have been publicly praised by companies such as Facebook, Amazon and Apple.
In summary, LightStream Finance is a legitimate online lender, offering competitive loan rates and flexible terms with excellent customer service. They have an extensive track record of many satisfied customers and a stellar reputation in the financial industry.
Is it hard to get a loan from LightStream?
The process for getting a loan from LightStream depends on your individual circumstances. Generally, the process of getting a loan from LightStream can be quick and easy. LightStream offers competitive rates and terms and has a streamlined application process.
You can start by filling out a simple application form on their website, which will ask you questions about your financial situation and the details of the loan you want. Afterwards, you may be asked to provide financial documents such as bank statements and proof of income.
LightStream also performs a soft credit check as part of the application process, which will not affect your credit score.
Once you have submitted your application, LightStream will review your information and make a decision on your loan application. If approved, you will typically receive the funds within one to two business days.
Overall, the process of getting a loan from LightStream is not difficult, but the final decision will depend on the individual circumstances.
What bank does LightStream use?
LightStream is the online lending division of SunTrust Bank, which is now known as Truist Bank. Founded in 1985, Truist Bank has grown to become one of the largest financial services companies in the country, operating more than 2,100 ATMs and nearly 1,100 branches in the Mid-Atlantic and Southeast regions.
LightStream is a direct-to-consumer lender, partnering with Truist Bank to serve customers who need an alternative to traditional financing. Through the LightStream platform, borrowers can access low rates, flexible terms, and easy access to funds.
What credit score do you need for a LightStream auto loan?
The minimum credit score you need to be eligible for a LightStream auto loan is 600, but your credit score can vary depending on your specific circumstances. Generally, the higher your credit score, the better interest rate you will receive.
LightStream also looks at other factors such as your monthly income and debt-to-income ratio, as well as the make and model of the vehicle you are looking to purchase. If you have a higher credit score, you may be eligible for a lower interest rate and better loan terms.
It’s important to note that while a higher credit score can make you more likely to qualify and get a better loan, the loan may still be offered at a higher interest rate than what some other lenders may offer.
Does LightStream require proof of income?
Yes, LightStream does require proof of income in order to complete the loan application process. The type of proof of income that is accepted by LightStream varies depending on the type of loan you are applying for, but typically LightStream will request one or more of the following documents: pay stubs, most recent tax returns, W2s, or asset statements.
You may also be asked to provide a written statement from your employer detailing your income for the last two years. Ultimately, providing proof of income is necessary in order for LightStream to verify the information provided in your loan application and to ensure you are able to make the loan payments.
How long does loan approval take with LightStream?
Loan approval with LightStream typically takes minutes from the time you submit your online application. They use an automated system to review and approve applications within minutes without the need for a human review.
Once your application is approved, LightStream will deposit the loan funds directly into your bank account according to your pre-selected delivery date. All in all, you could get your loan funds the same day you apply in some instances.
LightStream offers an easy, hassle-free loan approval process with no paperwork or waiting periods. They have not only designed their approval process to be fast and efficient, but have invested heavily in an advanced data-matched credit system to ensure fast approval of approved loans so that credit-worthy borrowers can get quick access to their funds.
Their commitment to providing fast loan approval makes LightStream one of the fastest–and most sought after–financial companies online.
Will LightStream contact my employer?
No, LightStream does not contact your employer unless you have given your explicit permission for them to do so. LightStream is dedicated to protecting your privacy, and so they will only contact your employer upon your consent.
For example, if you are using a LightStream loan to purchase a car and are having the car financed through your employer, then you may choose to give LightStream permission to contact your employer to verify the transaction.
Other than that, there is no need for LightStream to contact your employer.
Does LightStream approve you instantly?
No, LightStream does not approve you instantly. LightStream is a loan provider which offers personal loan options to help you finance big purchases or consolidate credit card debt. When applying for a loan, you must submit an inquiry through the LightStream website or by calling customer service.
Your loan application will be evaluated based on a variety of factors, such as your credit profile, income, ability to make payments, and any other information you provide. After a favorable decision, LightStream will notify you of the loan amount and the loan details.
However, this process can take several days or possibly longer, depending on the complexity of the loan.
Who owns LightStream?
LightStream is a lending platform owned by Truist Bank, one of the largest banks in the United States. LightStream, a division of Truist Bank, is based in Atlanta, GA. The company originated in 2013 as part of SunTrust (later acquired by BB&T in 2018).
LightStream is a leading online consumer lender and offers a full suite of lending products for a variety of uses including home improvement, recreational vehicle financing, and consolidating higher-interest credit card debt.
LightStream takes pride in providing the best customer experience by making loan decisions quickly and providing unique benefits such as fixed-rate interest, no hidden fees, and flexible repayment solutions.
Many of the products are secured by customer deposits at Truist and offer highly competitive rates without charging any origination fees, prepayment penalties, or other added/hidden fees. LightStream stands as one of the leading online lenders in the U.
S. with a trusted customer base and best in class digital offering.
Are LightStream car loans unsecured?
No, LightStream car loans are not unsecured. LightStream requires a minimum loan amount of $5,000 and all loans require having an existing loan on the vehicle to be refinanced, specific terms and conditions, and successful credit and identity verification.
All loans must be secured by the vehicle you’re buying, as it’s required collateral. If you don’t make payments as agreed on your loan, LightStream has the right to repossess the vehicle in order to recoup its losses.
Can LightStream be trusted?
Yes, LightStream can be trusted. LightStream is a division of SunTrust Bank, one of the largest and most respected banks in the US, with over 160 years of experience. Since it is backed by a large bank, LightStream is regulated by the federal government and is FDIC insured.
LightStream also provides customers with numerous tools and resources to help them make smart financial decisions, as well as 24/7 customer support to address any issues or concerns. Additionally, LightStream takes steps to protect its customers’ data and privacy, such as encrypting all data and storing it on secure servers.
For added protection, it also requires customers to verify their identity when they log into their accounts. Overall, LightStream is a trusted and secure financial services provider.
Is LightStream a real bank?
Yes, LightStream is a real bank. It is a division of SunTrust Bank, a financial services company that has been providing banking and investment services since 1985. LightStream offers a variety of financial services to its customers, including online banking, car loans, home loans, credit cards, and more.
As a division of a real, legitimate bank, LightStream is subject to the same federal regulations and standards of service as any other bank, ensuring that your money is secure and protected.
When did Truist acquire LightStream?
Truist acquired LightStream in June 2020. LightStream, a division of SunTrust Banks, Inc. , joined Truist upon completion of the merger between SunTrust Banks and BB&T Corporation. The acquisition of LightStream, a digital lending platform, further strengthens Truist’s commitment to providing consumers, business owners, and shareholders innovative and convenient banking solutions.
LightStream has been a part of SunTrust Banks since 2014, when SunTrust acquired the company from First Data Corporation. With their combined strength and resources, Truist and LightStream together stand to offer an even greater range of financial solutions for customers and stakeholders.
Is LightStream associated with SunTrust Bank?
Yes, LightStream is associated with SunTrust Bank. LightStream is a national online lending division of SunTrust Bank, a trusted name in banking and financial services since 1985. Through LightStream, SunTrust delivers a unique and streamlined loan experience, with application process, approval and funding all done online in a matter of minutes.
LightStream provides competitive rates and offers a wide range of loan options, from auto loans to home improvements, to consolidate debt and much more. Whether you’re looking to buy a new car, remodel your home or pay off existing debt, LightStream can provide solutions for all of your credit needs.
Is LightStream hard to get approved for?
No, LightStream is not hard to get approved for. LightStream is an online lender that focuses on providing competitive rates on consumer loans, and approvals are determined based on your credit score and other financial information.
It’s important to note that LightStream looks at information such as your credit history, past income, debt-to-income ratio, employment history, and other factors when determining your eligibility. That being said, the approval process is generally quick and straightforward, and the likelihood of being approved often relies on your credit score.
LightStream offers a variety of consumer loan options, and borrowers with good or excellent credit scores (typically above 700) are more likely to get approved. If you don’t have a great credit score, LightStream may still be willing to work with you, however, you may need to provide additional information and personal references to get approved.