Can you pay off a LightStream loan early?

To apply for a LightStream personal loan enter your personal and financial information on the online application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.

How to Apply for a LightStream Personal Loan

1. Enter your personal information on the application. LightStream requires the following personal information on the application: full name, email, home address, housing status, home phone, date of birth, Social Security number and the last 4 digits of the Driver’s license.… read full answer
2. Enter your financial information on the application. LightStream requires the following financial information on the application: employment status, annual income, total monthly housing costs, and checking and savings balances plus stocks and bonds.
3. Double check the application for accuracy. To ensure that your LightStream personal loan application gets processed as quickly as possible, make sure that all the information is correct and complete before you submit it.
4. Submit your application. LightStream will typically provide a decision on your application within 1 - 2 business days.

If you are approved for a LightStream personal loan, you will generally receive the funds within 1 - 2 business days after approval. After that, it’s your responsibility to make monthly payments until you have fully paid back your loan, including interest.

Yes, LightStream does a hard credit inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.

LightStream's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the … read full answercredit score simulator on WalletHub.

If you're looking for a lender that does not do a hard inquiry at all, you could consider Opploans and NetCredit.

It is not very difficult to get a personal loan from LightStream because they offer personal loans for people with credit scores as low as 660+. Other LightStream personal loan requirements include being at least 18 years old, having an SSN, and having enough income to afford monthly loan payments.

LightStream Personal Loan Requirements

• Minimum Credit Score: 660+ credit score
• Age: 18+ years old
• Residency: U.S. citizen or permanent resident
• Identification Type: SSN only

Once you make sure you've met all the requirements for a LightStream personal loan, you should have a good chance of approval. However, the exact interest rate you receive will depend on factors such as your credit score, income, and debt.

You can use WalletHub's free pre-qualification tool to see if you're likely to get approved and what rates you could get. Plus, it won't hurt your credit.