LightStream debt consolidation loans allow borrowers to combine existing debts – such as other personal loans, credit cards, payday loans, bills and more – into one monthly payment, both for simplicity and the potential for a lower APR. LightStream debt consolidation loans have APRs ranging from 5.95% to 17.29%, depending on the applicant’s credit history, income and existing debt. Those are some of the lowest rates on the market overall.
Overall, LightStream debt consolidation loans are excellent, but it’s important to be aware of the fine print before applying. And like with any debt consolidation loan, LightStream debt consolidation loans are only worth getting if your APR will be lower than the APRs on the existing debts that you’re trying to consolidate.
LightStream Debt Consolidation Loan Details:
APR range: 5.95% - 17.29%
Origination fee: $0
Late fee: $0
Loan amounts: $5,000 - $100,000
Payback periods: 24 - 84 months
Timeline for approval/funding: Same day - 2 business days
If you’re looking to refinance existing auto debt, you shouldn’t choose a LightStream debt consolidation loan. Rather, you should get a LightStream auto refinancing loan. They function the same way: You receive a lump sum, use it to pay off your existing debt and pay the new debt back over time. But the auto refinancing loans are significantly cheaper, with APRs ranging from 3.99% to 8.64%.
To get either a regular LightStream debt consolidation loan or an auto refinancing loan, you’ll reportedly need a credit score of at least 660.
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