How do I manage my LightStream loan?

LightStream's online account services area enables our customers with funded loans to virtually manage all aspects of their relationship with us. Here you can:

• Review your loan(s) and payment history.
• Make extra payments or pay off your loan.
• Update your contact information.
• Update your security information (user id, password, security question and answer).
• Conveniently apply for another loan.

If you have a funded loan - just sign in to begin.

At LightStream, the nation’s premier online consumer lender, we offer good-credit customers fast, easy financing for practically anything and the best loan experience they’ll ever have.

We’re part of Truist, and we believe in working and living with a greater purpose. As part of our team, you’ll help us build better banking solutions for people, businesses and communities, and ultimately, a better future for us all.

If you’re interested in joining our talented team, please visit the Truist Career Site to view all open positions.

Equal Opportunity Employer

Truist supports a diverse workforce and is a Drug Testing and Equal Opportunity Employer and does not discriminate against individuals on the basis of race, gender, color, religion, national origin, age, disability, veteran status or other classification protected by law.

EEO Poster

For additional career information, disability assistance, or to learn more about E-Verify, please visit the Truist Career Site.

Which credit agency do you use to get my credit score?

LightStream pulls a hard inquiry from TransUnion or Equifax. Credit scores often vary by agency and scoring models. For more information regarding how your credit score was calculated you may contact either of the credit agencies directly. It should be noted again that each individual profile is different and that we make our credit decision based on the specific facts of that profile.
 

How do I submit a credit reporting notice of dispute?

If you think the information LightStream has provided to credit reporting agencies for your account(s) is inaccurate, please follow these steps:

Submit in writing the following, which is required by LightStream in order to conduct an investigation:

• Identifying information such as your name, address, and telephone number
• LightStream Account number(s) and/or type(s) of product(s), which you are disputing
• Specific information regarding your dispute (Incorrect Status, Incorrect Payment History, Unsolicited Account, etc.) and an explanation of the basis for this dispute
• Copies of all supporting documentation or other information to assist LightStream in substantiating the basis of this dispute. Some examples of documentation may include: A copy of the relevant portion of the consumer report that contains the allegedly inaccurate information, a police report, a fraud or identity theft affidavit, a court order, or account statements.

If available, the following items can also be provided to help LightStream more thoroughly investigate your dispute:

• Your date of birth
• A SSN or Tax ID number (minimum last six digits is preferred) to better identify your account
• The Consumer Reporting Agency name(s) reporting the disputed information
• Any additional information that would be helpful in identifying the account in question

As a convenience, you may fill in this optional Credit Report Dispute Form which you may submit as your written statement.

Please note that LightStream requires sufficient identifying account information and documentation of your specific dispute in order to investigate the dispute. If sufficient information is not received, LightStream may be unable to investigate your dispute.

Written disputes and supporting documentation are to be mailed to the following address:

Credit Bureau Disputes
PO Box 849
Wilson, NC 27894

Upon receipt of your dispute at the specified address, LightStream will begin the investigation of your dispute which can take up to 30 days.

Why do you need my credit card number?

Since LightStream provides lending completely online, we request your credit card information as a method to further verify your personal identity. Please be assured that your credit card information is not stored in our system or shared with anyone. It is only requested after you are approved for a loan and are in the funding process.

How do you define 'excellent' credit?

LightStream only approves good-to-excellent credit profiles.

Our process looks beyond an individual’s FICO® score to closely examine their entire credit profile. We require a good-to-excellent FICO score as a qualifier to be reviewed. However, a high FICO score does not necessarily mean applicants will be approved.

Given the unique nature of each individual's credit profile, we believe there is no single definition for “excellent credit”.

We find that individuals with excellent credit usually share the following characteristics:

• Credit History: Five or more years of significant credit history with a variety of account types (major credit cards, installment loans, vehicle loans and mortgage debt if applicable.)
• Assets: A proven ability to save, evidenced by: retirement/investment accounts and liquid assets––including checking and savings accounts, etc.
• Income vs Debt: Stable, sufficient income and assets with the ability to easily repay current debt obligations (including little, if any, revolving credit card debt) in addition to any new loan with LightStream. 
• Payment History: An excellent payment history with no delinquencies or other problems repaying debt obligations.

Finally, it should be noted again that each individual profile is different and that we make our credit decision based on the specific reporting of the individual’s current profile.

Ultimately, our determination of excellent credit is based on whether we conclude that there is a very high likelihood our loan will be repaid in a complete, timely manner.

Note for co-applicants: We equally review each party on the application as each individual is equally responsible for the loan.

Does LightStream offer GAP insurance?

No, LightStream does not offer Guaranteed Auto Protection (GAP) insurance (optional coverage for newer cars that can be added to your collision insurance policy) for any of our loans. If you are refinancing an existing loan that has GAP coverage, the coverage will not transfer.

How do you define 'good' credit?

LightStream only approves good-to-excellent credit profiles.

Our process looks beyond an individual’s FICO® score to closely examine their entire credit profile. We require a good-to-excellent FICO score as a qualifier to be reviewed. However, a high FICO score does not necessarily mean applicants will be approved.

Given the unique nature of each individual's credit profile, we believe there is no single definition for “good credit”.

We find that individuals with good credit usually share the following characteristics:

• Credit History: Several years of credit history with a variety of account types (major credit cards, installment loans, vehicle loans and mortgage debt if applicable.)
• Assets: An ability to save, evidenced by: retirement/investment accounts and liquid assets––including checking and savings accounts, etc.
• Income vs Debt: Stable, sufficient income and assets with the ability to repay current debt obligations in addition to any new loan with LightStream. 
• Payment History: A good payment history with few, if any, delinquencies or other problems repaying debt obligations.

Finally, it should be noted again that each individual profile is different and that we make our credit decision based on the specific reporting of the individual’s current profile.

Ultimately, our determination of good credit is based on whether we conclude that there is a high likelihood our loan will be repaid in a complete, timely manner.

Note for co-applicants: We equally review each party on the application as each individual is equally responsible for the loan.

How does the whole LightStream loan process work?

Here is how it works:

• Apply online. You will receive a response shortly (during business hours).
• Accept loan agreement. Once approved, e-sign your loan agreement and set up your loan for funding.
• That's it! Use your loan. Receive your funds as early as today!

It’s that simple. We’re so confident that you will love the experience, we guarantee it!

I believe I’m a victim of identity theft. What should I do?

Contact us right away by emailing customerservice@LightStream.com. Be sure to include your name, contact number, reference number (if available), and a brief description of the issue.

How does LightStream calculate interest?

LightStream offers a simple interest loan, with a fixed interest rate. Simple interest accrues on a daily basis, based on the unpaid principal balance. This means that with each payment, you will pay down interest accrued, and then the remainder will be applied towards principal.

How long are my funds available?

When approved for a LightStream home improvement loan, the funds must be transferred into your account within 90 days. After 90 days, the loan approval will expire and a new loan application will be required.

When approved for all other loan purposes, the funds must be transferred into your account within 30 days. After 30 days, the loan approval will expire and a new loan application will be required.
 

Can I get a loan if I work in a marijuana related industry?

Due to the illegal status of marijuana under federal law, and regulatory restrictions on financial institutions, LightStream does not accept income that is derived from the marijuana industry (wholesale and retail distributors, dealers and/or growers of marijuana) in its loan underwriting decision. Borrowers are also not permitted to use loan proceeds for any activity deemed illegal under state or federal law.

What restrictions are there on how I can use the proceeds of my loan?

You are required to use your loan proceeds for the loan purpose that you selected in your loan application.

In addition, please note that:

• You may not use your loan proceeds to refinance an existing LightStream loan.
• We are currently unable to provide loans for the funding of college or post-secondary educational expenses, or refinance loans that were used for such purposes.
• Loans are made to individuals for personal use, not to businesses. You may not use your loan proceeds for business purposes.
• Funding and payments need to be made to and from a personal banking account.
• We do not provide any loans for cash out refinance purposes.
• You may not use the proceeds of a LightStream loan to purchase bonds, stocks, stock options, or pay back a loan against a stock option. You also may not use your proceeds to contribute to any sort of retirement, life insurance or education savings plan.
• You may not use your loan proceeds for the purchase of cryptocurrencies.

How do you determine the interest rate on your PreK – 12 loan? Can I get a loan for college?

All of our interest rates are fixed, including those for PreK-12 educational expenses. You can determine your interest rate range by going to the Rates/Terms page. Your actual rate will be determined by your credit profile. Applications meeting LightStream's excellent credit profile may receive the lowest rate.

Please note that we are currently unable to:

• Provide loans used to fund college or post-secondary education expenses, or
• Refinance previous college or post-secondary education loans.

Also, loans are fully amortizing with NO deferment period. Of course, that means you will be debt-free sooner.

How do you determine the interest rate on a vehicle loan?

You can buy any vehicle (new or used) from anyone (dealer or individual). Your interest rate will be determined based on:

• loan purpose
• loan term
• loan amount
• your credit profile
• payment method you select

Do you have any vehicle restrictions?

Whether you are purchasing or refinancing, we do not place any restrictions on the vehicle's:

• year
• make
• model
• mileage

Do you have any down payment requirements?

We do not require any down payment for your vehicle purchase; you may apply for a loan for the full amount of the vehicle.