LightStream home improvement loans are some of the best on the market, with loan amounts up to $100,000 and APRs of 4.99% to 13.79%. That’s extremely cheap, considering most lenders don’t have APRs below 6% and many have maximum APRs of 25%+. In order to qualify for a LightStream home improvement loan and take advantage of these low rates, you will need a credit score of at least 660, according to multiple sources.
LightStream is one of the few lenders with different APR ranges for different types of loans. For example, LightStream debt consolidation loans have slightly higher rates than LightStream home improvement loans. That goes for other LightStream loans, too, as they have maximum APRs above 16%. So the home improvement loans are especially low-cost.
In addition to cheap rates, LightStream home improvement loans have no origination fees, prepayment fees or late fees. Plus, you can borrow anywhere from $5,000 to $100,000 for 24-144 months. LightStream even offers the possibility of funding the same day you apply, though that’s not guaranteed.
When you get a LightStream home improvement loan, you will receive a lump sum of money at the beginning. You can then use this money to pay for whatever materials and labor you need. You’ll be required to pay off the loan in equal monthly installments. But you can pay above what’s required and finish paying off the loan early with no penalty if you wish.
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