LightStream Personal Loans: 2025 Review

LightStream is best for excellent credit borrowers looking to consolidate debt or finance a home renovation

LightStream is a 2025 Bankrate Award winner for best home improvement personal loan for the fourth year in a row. It offers loans of up to $100,000 — among the highest in the personal loan industry. Repayment terms are capped at 84 months, which is higher than the standard 60-month limit offered by most lenders. Its low starting personal loan rates along with a no-fee policy and rate beat program make its loans relatively low cost.

LightStream personal loan purposes

For qualified borrowers, LightStream is a great choice for large purchases and costs like large purchases and home improvement projects. It's also a good choice for debt consolidation thanks to its autopay discount and rate beat program, which can result in big savings.

That said, borrowers can’t use loan proceeds to cover post-secondary education expenses or refinance student loans. Borrowers are also prohibited from using the funds to invest in the stock market, contribute to any retirement, life insurance or education savings plan or to refinance an existing LightStream loan. These are common restrictions across lenders, and LightStream is still a very flexible option for most other expenses.

Where LightStream personal loans stands out

• Low rates: LightStream’s lowest APR is currently 6.24 percent, including a 0.50 percent autopay discount.
• Rate beat program: If an approved borrower gets a better rate with another lender, LightStream will beat the competing offer by 0.10 percent.
• No fees: LightStream doesn’t charge any fees, not even an origination fee.
• Fast approval and funding: Borrowers may receive funds as soon as the same day they apply with LightStream, which is great for time-sensitive needs.

Where LightStream personal loans falls short

• Minimum loan amount is high: While many personal loan lenders let you borrow as little as $1,000, LightStream’s minimum is $5,000. 
• Requires a long credit history: LightStream borrowers should have several years of credit history with a variety of account types, so it’s not a good choice for borrowers just starting out on their credit journey.
• No prequalification available: Most other lenders offer prequalification, but LightStream requires borrowers to submit a formal application, which can temporarily lower their credit score. 

How this lender compares

LightStream vs. SoFi

LightStream and SoFi offer similar loans. Loan amounts range from $5,000 to  $100,000, and both lenders offer competitive rates.

The main difference is that LightStream doesn’t offer prequalification, while SoFi does. This means borrowers can check their rate with SoFi without having to submit a formal application. SoFi also offers a variety of member-specific perks, like referral bonuses and rate discounts, that LightStream currently lacks.

You may be able to maximize your savings by applying with SoFi first to avoid a hard hit to your credit score. Then, if you qualify for a loan with LightStream, you can compare offers — and potentially use LightStream's rate beat program to get the lowest possible APR.

LightStream vs. Best Egg

LightStream and Best Egg are on opposite sides of the personal loan spectrum. While both are online lenders, Best Egg has significantly higher interest rates than LightStream. Its loan amounts are lower as well, and unlike LightStream, Best Egg charges an origination fee in addition to other lender fees, making it potentially more expensive.

Best Egg's minimum credit score requirement of 600 is low compared to the minimum credit score to qualify for LightStream, making it a good choice for borrowers with poor credit, and it's a top lender for bad credit personal loans. 

Do you qualify for a LightStream personal loan?

Like other lenders, LightStream requires borrowers to provide their contact information, date of birth, physical address and Social Security number to apply. The lender doesn’t list specific credit requirements on its website, but according to a representative, borrowers need a minimum credit score of 695 to qualify.

LightStream also considers the requested loan amount, purpose and repayment term in addition to their credit history and financial situation for approval.

How Bankrate rates this lender