Yes, LightStream offers wedding loans of up to $100,000 with an APR range of 4.98%- 19.99%, depending on your overall creditworthiness. LightStream wedding loans can be used for any wedding-related expense, such as the engagement ring, the venue, the cake, or the honeymoon.
Key Facts About LightStream Wedding Loans
Loan amounts: $5,000 - $100,000
APR range: 4.98% - 19.99%
Credit score requirement: 660 according to multiple third party sources
Repayment period: 24 - 144 months
To be clear, LightStream’s wedding loans have similar terms and functionality as its general-purpose personal loans, but they’re just marketed a bit differently.
Finally, it’s worth noting that you may want to consider saving up for your wedding rather than using a loan. It’s best to start married life with as little debt as possible.
LightStream’s rates range from a minimum of 3.99% to a maximum of 17.29%, depending on the borrower’s creditworthiness and the type of LightStream loan. Unlike most personal loan providers, LightStream has separate APR ranges for different types of loan purposes. For example, LightStream’s rates for debt consolidation loans range from 5.95% to 17.29%. And the range is 4.99% to 13.79% for swimming pool loans.… read full answer
No matter what type of loan you get, your LightStream rate will be 0.5% cheaper if you set up automatic payments from a bank account, rather than manually making a payment after receiving an invoice each month. In addition, if you have already been approved for a loan from another lender, LightStream promises to beat their rate by 0.1%. But LightStream requires proof that you were approved for a loan with the exact same terms (other than a lower rate) by 2 p.m. EST the business day before your LightStream loan gets funded.
LightStream’s rates for 2022:
Home improvement/solar/pool loans: 4.99% to 13.79%
Debt consolidation loans: 5.95% to 17.29%
New auto purchase loans: 3.99% to 8.84%
Used auto purchase from dealer loans: 3.99% to 8.84%
Used auto purchase from individual loans: 4.99% to 9.69%
Auto lease buyout loans: 4.99% to 9.69%
Auto loan refinance loans: 3.99% to 8.84%
Boat/RV/aircraft purchase or refinance loans: 4.29% to 11.34%
Motorcycle purchase or refinance loans: 4.29% to 11.34%
Timeshare/fractional purchase or refinance loans: 5.95% to 17.29%
PreK-12 education or refinance loans: 5.95% to 17.29%
Medical/adoption expense loans: 5.95% to 17.29%
LightStream’s rates are remarkably inexpensive compared to many other online lenders, which may charge up to a 36% APR on their personal loans.
There are several ways to pay for a wedding with no money, from taking out a personal loan (if you have income, but no money on hand) to opting for a simple ceremony without the pomp and circumstance. Marriage licenses cost between $5 and $100, depending on the state – so it’s possible to get married without spending much at all. Other options include asking family for assistance or crowdfunding. Let’s go through all of the different possibilities.… read full answer
How to pay for a wedding with no money:
Get a personal loan. Depending on the lender, you’ll be able to borrow from $1,000 to $100,000 for wedding expenses (or pretty much anything else). You’ll typically have 1 to 7 years to pay it back, and there are loan options for people with all credit scores. You can get a personal loan if you have no money saved, but you’ll need a steady income and little existing debt.
Take out a home equity loan. If you own a house before marriage, you could borrow against the value of that property through a home equity loan or line of credit. But this isn’t the greatest option, as your house serves as collateral.
Use credit cards. Depending on how high of a credit limit you have, you may be able to charge some or all of your wedding expenses to a credit card. But credit cards tend to have much higher rates than personal loans, so if you go this route, use a credit card with a 0% introductory APR.
Have a simple wedding. Marriage licenses are inexpensive. So consider simply having a small ceremony with your closest friends and family at someone from the group’s home or a park where you don’t have to pay rental fees. You could also ask friends to use their talents to bake a cake or perform music, for example.
Ask family for help. Parents often front a lot of the costs of a wedding – about two-thirds, actually, on average. If you’re comfortable doing so, you can ask them to chip in.
Ask guests for money. In lieu of traditional wedding gifts, you could ask guests to give you money toward the cost of the wedding. You’ll need to ask for these gifts in advance if you want to use them to pay for the wedding itself; otherwise, you’ll have to borrow money and use the gifts to recoup the costs.
Crowdfund. Crowdfunding all sorts of expenses has become more popular in the past few years. If you have an especially dedicated group of friends, or a big social network, they might contribute money toward your wedding.
Enter a contest. If you’re lucky, you may win a sweepstakes that pays for a wedding dress, honeymoon, wedding ring or more.
Get sponsored. If you have a large following on social media, you may be able to convince companies to sponsor your wedding in return for giving them advertising.
Get a grant. There are few opportunities for wedding grants. The only currently viable option, Wish Upon a Wedding, is for people with terminal or life-altering illnesses.
If those ideas won’t work for you, you should take one of two approaches. The first is to wait and save some money until you have enough to pay for the wedding you want. The second is to just go to a courthouse and get married legally. Then, you could throw a big party on your first anniversary, for example, after taking some time to save.
From the number of times I've seen this type of question recently, spring wedding season must almost be upon us. Please don't tell my catering son-in-law about my answer, Rather than asking "experts" their opinion, sit down with your to-be and decide if you want to begin marriage in debt. Debt is one of the largest contributing factors to marital troubles. If scaling back your agreed upon plans is not possible, you might get early on a good sense of your partners attitude toward money. And up until you say "I Do", you have a less expensive solution to major differences in financial attitudes than hring a divorce attorney after the honeymoon is over.… read full answer
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