Guide to LightStream's Debt Consolidation Loan Options
This article offers a comprehensive overview of LightStream's debt consolidation loans, highlighting eligibility, loan terms, interest rates, application process, and important usage restrictions. Perfect for consumers seeking to streamline debt payments, it emphasizes the benefits of competitive interest rates and quick approval times. Understand the key features and conditions to see if LightStream’s offerings meet your financial needs, and learn how to access these debt relief options efficiently and securely.
Guide to LightStream's Debt Consolidation Loan Options
LightStream, a digital lending arm of SunTrust Bank, specializes in providing debt consolidation and credit card amalgamation loans for borrowers with strong credit profiles and low debt-to-income ratios. Applicants need a minimum credit score of 720 to qualify for a loan.
The company offers competitive interest rates on unsecured debt consolidation loans, helping borrowers reduce their monthly payments. Funds are strictly allocated for the purpose specified in the application, with no allowances for other uses.
Loan proceeds cannot be used to settle existing LightStream loans or finance businesses.
These loans let consumers combine multiple credit card bills or interest payments into a single monthly installment, with amounts ranging from $5,000 to $100,000. Repayment periods include options like 24-36 months, 37-48 months, up to 73-84 months. The fixed interest rate offered depends on the borrower’s credit score and chosen loan term.
For example, interest rates can be as low as 5.49% APR for loans between $10,000 and $24,999 over 24 to 36 months when enrolling in automatic payments. Without autopay, an additional 0.5% fee applies. The application process is straightforward and quick, with many approvals issued in the same day. Required details include social security number, date of birth, and contact info. There are no origination, prepayment, or late fees.
Note:
Information presented here is gathered from research, data, and expert insights, but may vary based on individual circumstances and lender policies. Financial scenarios change over time, so always consult a financial professional before making decisions. We are not responsible for inaccuracies or differing opinions presented elsewhere.
