LightStream Personal Loans Review: What You Need To Know

Editor's note: LightStream is no longer accepting new loan applications. Its website says existing customers can still sign in to manage their accounts. On Oct. 14, 2026, Truist Financial agreed to sell about $7.7 billion of unsecured consumer loans representing substantially all of LightStream's assets to Carlyle Group. Truist said the transaction is expected to close in the fourth quarter of 2026.

This review is preserved for reference. The rates, fees, terms and funding details below reflect the August 2026 version of the product and aren't current offers. New borrowers can't apply for a LightStream loan.

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If you need a loan now, review the alternatives section and compare current terms directly with each lender.

What Happened to LightStream?

LightStream stopped accepting new applications in October 2026. Its homepage says, "We are no longer accepting applications," and directs clients with active accounts to sign in to manage them.

Truist's third-quarter 2026 earnings release says the bank signed an agreement on Oct. 14, 2026, to sell $7.7 billion of unsecured consumer loans representing substantially all the assets of LightStream, its unsecured lending platform, to Carlyle Group. Truist said the transaction is expected to close in the fourth quarter. Banking Dive reported that the sale is estimated to generate about $7.2 billion in net proceeds.

The sale isn't the same as a confirmed servicing transfer. Until Truist or LightStream provides additional instructions, existing borrowers should continue following the payment instructions in their loan agreements and account statements.

LightStream's homepage lists customer-service hours of Monday through Friday from 9:30 a.m. to 7 p.m. Eastern time and Saturday from noon to 4 p.m. Eastern time. Those hours may change during the transition, so use the contact information on your statement or the official website.

What Existing LightStream Borrowers Should Do

If you have an active LightStream loan, these steps can help you keep the account in order:

• Sign in and review your account: Confirm your balance, payment amount, next due date and current payment instructions.

• Keep making payments on time: The ownership of a loan can change without canceling the borrower's obligation to repay it.

• Watch for official servicing notices: Save emails and letters from Truist, LightStream or a new servicer. Do not change payment instructions based only on an unexpected message.

• Keep your documents: Save your loan agreement, payment history, payoff information and account notices.

• Check AutoPay: Confirm that the linked payment account is current. Review your statement for any change to the AutoPay rate discount or payment amount.

• Verify unfamiliar requests: If someone asks you to redirect a payment, call the number on your statement or use the official LightStream website instead of an unfamiliar link or phone number.

The sale announcement doesn't by itself change the interest rate, repayment schedule or other terms in your loan agreement. If you receive a servicing-transfer notice, compare it with your agreement and follow the new servicer's official payment instructions.

MoneyLion offers a service to help you find personal loan offers. Based on the information you provide, you can get matched with offers for up to $100,000 from our top providers. You can compare rates, terms and fees from different lenders and choose the best offer for you.

What LightStream Offered Before Closing

The following sections describe the August 2026 version of LightStream's product. They are historical reference points, not current offers or application requirements.

Interest Rates

The August 2026 version of this review listed a 7.24% to 24.89% annual percentage rate (APR) range with AutoPay. It stated that choosing AutoPay reduced the APR by 0.5 percentage points. Rates varied by creditworthiness, loan purpose and term.

Other August 2026 page text displayed different starting APR figures. Because LightStream is no longer accepting applications, a new borrower can't use the website to reconcile those versions. Treat the 7.24% to 24.89% range as an archived reference only, not a current rate quote.

For context, the Federal Reserve's G.19 release published on Oct. 7, 2026, reported an 11.86% average APR for 24-month personal loans at commercial banks in August 2026. That market figure isn't a LightStream rate or a prediction of what another lender will offer.

Loan Amounts and Terms

The August 2026 version listed:

• Loan amounts: $5,000 to $100,000.

• Terms: 24 to 240 months, depending on the loan purpose and amount.

• Longer terms: Terms of seven years or longer were described as available for larger loans.

• Loan purpose: Eligible uses included debt consolidation, home improvements, large purchases and similar expenses.

Longer terms can reduce the monthly payment but increase total interest. A 20-year repayment period can cost substantially more than a five-year period, even when the monthly payment is lower.

Fees

The August 2026 terms stated that LightStream didn't charge origination fees, late fees or prepayment penalties. Those statements describe the archived product terms and should not be applied to another lender's loan.

Some loans can involve state taxes or other charges that depend on the borrower's location and loan documents. Review the agreement and closing disclosures for the specific loan rather than assuming that every borrower paid the same amount.

Eligibility

LightStream didn't publish a single minimum credit score. Its August 2026 materials described a fuller review that could include:

• Good-to-excellent credit

• Several years of credit history

• Multiple types of credit accounts

• Savings and investment assets

• Income relative to existing debt

• Payment history

FICO describes a good score as 670 to 739, a very good score as 740 to 799 and an exceptional score as 800 or higher. Higher scores generally improve access to competitive rates, but no score guaranteed LightStream approval.

Payment history makes up 35% of a FICO Score, according to myFICO. Other factors, including debt, credit history and the application details, also affect a lender's decision.

Prequalification and Hard Inquiries

LightStream didn't offer a soft-pull prequalification process before it stopped accepting applications. Applying triggered a hard credit inquiry before the lender showed a final rate.

A hard inquiry can remain on a credit report for two years, but it usually affects a FICO Score for about 12 months. Experian says a single hard inquiry typically lowers a FICO Score by fewer than five points. The effect varies by person and credit profile.

Funding

The August 2026 version described possible same-day wire funding on a banking business day when the loan was fully approved and the borrower completed signing, funding details and final verification before 2:30 p.m. Eastern time. Otherwise, funding could take additional business days. ACH funding required scheduling on the business day before the requested receipt date.

Those funding details are historical. They don't apply to new borrowers because LightStream is no longer accepting applications.

AutoPay and Rate Beat

AutoPay was described as reducing the APR by 0.5 percentage points when selected before funding. Existing borrowers should check their loan statements and agreement to confirm how any AutoPay discount is reflected after the ownership transition.

The August 2026 review also described a Rate Beat program that could match an approved competing unsecured-loan rate and beat it by 0.1 percentage points under stated conditions. Because the program is no longer available to new applicants and its rules can't be rechecked through a new application, it is not a current comparison option.

Who LightStream Was Best For

Before applications closed, LightStream was positioned for borrowers with good-to-excellent credit, several years of credit history and steady income who wanted a larger unsecured loan without origination, late or prepayment fees.

It was less suited to borrowers with average, poor or thin credit, or to anyone who wanted to compare a potential rate through soft-pull prequalification before submitting a full application.

Those fit considerations are historical. They shouldn't be read as current eligibility guidance because LightStream is no longer taking applications.

Alternatives If You Need a Personal Loan Now

If you need to borrow now, compare current lenders directly. Potential comparison points include banks, credit unions and online lenders like SoFi, Upstart and PenFed Credit Union. Availability, APRs, loan amounts, fees and credit requirements can change, so review each provider's current disclosures before applying.

Look for lenders that offer a soft-pull rate check if you want to compare estimated terms before a hard inquiry. Then compare:

• APR: The yearly cost of borrowing, including interest and certain finance charges.

• Total repayment: The full amount you will repay over the loan term.

• Monthly payment: The amount due each month and whether it fits your budget.

• Fees: Origination, late-payment, returned-payment and prepayment terms.

• Loan amount and term: Whether the lender offers enough for your purpose without stretching repayment too long.

• Funding timing: When the lender can deliver funds after approval.

• Collateral: Whether the loan is unsecured or backed by an asset.

A longer term may lower the monthly payment while increasing total interest. Prequalification helps you compare estimated terms, but read the lender's disclosures to confirm whether the check is soft or hard.

Is LightStream Still Lending Money?

LightStream's website says it's no longer accepting applications. Existing clients can still sign in to manage active accounts.

The former product's August 2026 terms remain useful only for readers who are reviewing an existing loan or comparing how LightStream was structured before closing. They shouldn't be used as a current application offer.

Can LightStream Borrowers Still Make Payments?

Existing borrowers should continue making payments according to their loan agreement and current account instructions. Sign in to confirm the next due date and payment amount, and contact LightStream through its official website or the number on your statement if you have an account question.

If servicing changes after the Carlyle transaction closes, follow the official notice and verify the new payment destination before redirecting payments.

Can LightStream Be Trusted?

LightStream was an online lending platform provided by Truist Bank. Its current website remains available for existing customers to manage active accounts, but new borrowers cannot apply.

A company sale or loan transfer doesn't, by itself, answer questions about the future servicing experience. Existing borrowers should rely on their loan agreement, account statements and official notices. Prospective borrowers should compare lenders that are currently accepting applications and review their disclosures before submitting a credit application.

The Bottom Line

LightStream is no longer taking new applications. Truist agreed on Oct. 14, 2026, to sell about $7.7 billion of LightStream unsecured consumer loans to Carlyle Group, and Truist said the transaction is expected to close in the fourth quarter.

Existing borrowers should keep payments current, review their account and save all loan documents while watching for official servicing notices. Anyone looking for a personal loan now should compare active lenders directly, check whether they offer soft-pull prequalification and evaluate APR, total repayment, fees and funding timing instead of relying on LightStream's archived terms.

Key Terms

• Annual percentage rate (APR): The yearly cost of borrowing, including interest and applicable finance charges.

• AutoPay: Automatic payments that reduced the historical LightStream APR by 0.5 percentage points when selected before funding.

• Hard credit inquiry: A formal credit check that can affect a credit score for about 12 months and remain on a credit report for two years.

• Prequalification: An estimate of potential loan terms, usually based on a soft credit inquiry.

• Unsecured loan: A loan that does not require collateral.

• Fully amortizing loan: A loan repaid in full through scheduled payments by the end of the term.

• Servicing: The process of collecting payments and managing a loan account. The servicer can change even when the loan terms remain the same.

Sources

• LightStream by Truist: Homepage and existing-customer sign-in notice

• Truist Financial Corp.: Third-quarter 2026 earnings release and LightStream loan-sale announcement

• myFICO: What Is a Credit Score?

• Federal Reserve: Consumer Credit, G.19

Parts of this article were created with AI assistance. MoneyLion editors reviewed, fact-checked and edited the final version and are responsible for its accuracy.