LightStream pre-approval is possible through certain personal finance websites only. LightStream does not allow potential applicants to check for pre-approval directly through its website. The site only has the option to submit an application, which results in a hard inquiry into your credit history.
LightStream partners with certain personal finance websites, such as WalletHub, to offer pre-approval. WalletHub’s free personal loan pre-qualification tool lets prospective borrowers check their approval odds and potential rates with multiple lenders, including LightStream. This tool has no impact on the user’s credit score. Keep in mind, though, that people who are pre-approved must still submit an application and undergo a hard pull in order to receive a loan.
There are a few other ways to gauge your LightStream approval odds, too. First off, many sources report that LightStream requires a minimum credit score of 660. You can check your credit score for free on WalletHub to see how it measures up. If your score is 660 or higher, and you have a steady income, you have a decent shot of getting approved. And the higher above 660 your score is, the better APR you can expect to get. Higher scores can also help you qualify for higher loan amounts.
LightStream also offers a rate calculator on their website. You can see what APR range you can expect based on the loan’s purpose, size, and length of time for payoff. And you can select whether you plan to use autopay (the cheaper option) or pay manually after getting a monthly invoice.
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