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lightstream loans

Gbkeith said:
I have been. And every bit of it is worth less every day.
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I've been sitting on a pile and it's just inflating away, so I'm going to buy another house. I like the safety money but it feels like I've got a hole in the bucket.

Lightstream never was approved for me. My credit is as good as it gets, but they don't like self employment I guess.
 
Surveyboy said:
Ah yes, inflation is out of control, and things are more expensive now than they were before, and none of that is in our control so just stop working and that'll even things out. :Rolleyes2:
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you sound like a professional victim
let me know how that works out for you ....pussy
 
Surveyboy said:
Ah yes, inflation is out of control, and things are more expensive now than they were before, and none of that is in our control so just stop working and that'll even things out. :Rolleyes2:
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He has literally never had a smart take in his life. Why would he start now? Having someguy in a user name in any form is the calling card of Idiocracy.
 
I used lightstream to get some cash to buy a stupid jeep a few years ago when I was between jobs, had a month off before I started the new job, and wanted to it sorted out and maybe wheel it a few times before I had to go back to work....new job had a starting bonus that should have paid off the loan, except they changed that when I started and there was no bonus. I ended up selling the POS and paying it off in a few months, but the process was simple and quick. I have great credit, and the interest rate reflected that but was a bit on the high side which is understandable for an unsecured loan.

If you have your shit together to some extent...I'd say it's a decent option.....otherwise, they probably won't loan money to you so won't be able to fuck things up. It was my understanding that they only considered loans to low risk borrowers, maybe that's changed...dunno
 
Lbhsbz said:
I used lightstream to get some cash to buy a stupid jeep a few years ago when I was between jobs, had a month off before I started the new job, and wanted to it sorted out and maybe wheel it a few times before I had to go back to work....new job had a starting bonus that should have paid off the loan, except they changed that when I started and there was no bonus. I ended up selling the POS and paying it off in a few months, but the process was simple and quick. I have great credit, and the interest rate reflected that but was a bit on the high side which is understandable for an unsecured loan.

If you have your shit together to some extent...I'd say it's a decent option.....otherwise, they probably won't loan money to you so won't be able to fuck things up. It was my understanding that they only considered loans to low risk borrowers, maybe that's changed...dunno
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What kind of income verification did they do? I've heard they don't do much.


I have stellar credit, but since becoming self-employed a little over a year ago, I learned that banks won't even talk to you without 2 years of self-employment income history or proof of current W-2 income. Even trying to get a well secured HELOC I was turned down almost instantly by 4 or 5 banks. Kind of annoying.
 
bgaidan said:
What kind of income verification did they do? I've heard they don't do much.


I have stellar credit, but since becoming self-employed a little over a year ago, I learned that banks won't even talk to you without 2 years of self-employment income history or proof of current W-2 income. Even trying to get a well secured HELOC I was turned down almost instantly by 4 or 5 banks. Kind of annoying.
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No employment verification that I know of. I applied on a weekend and the approval takes about 10 minutes from what I remember. I’m sure it’s entirely based off of your credit score and they aren’t loaning to anyone with anything less than great credit.
 
bgaidan said:
What kind of income verification did they do? I've heard they don't do much.


I have stellar credit, but since becoming self-employed a little over a year ago, I learned that banks won't even talk to you without 2 years of self-employment income history or proof of current W-2 income. Even trying to get a well secured HELOC I was turned down almost instantly by 4 or 5 banks. Kind of annoying.
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None, if I recall correctly...just asked me how much money I made, and what my current monthly obligations were...very easily could have lied, but I imagine they check that out on the back end before they hand you the money. No paperwork needed to be submitted at all.
 
What are the current rates? Seeing 7.24% doesn't seem that great?

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I saw the above rates a few minutes ago. My local CU has a 6.5% rate, however I'm looking to both get a truck and make some fixes on this house before it goes on the market. Lightstream still looks like a nice fast way to get it done.

Anyone get a lightstream loan with 35% D/I or greater? It's where I'm at until we move, which will put us at 0% D/I. lol
 
What’s your credit score? I’m pretty sure that’s all Lightstream cares about. They don’t ask for any income verification or anything
 
KenV said:
I saw the above rates a few minutes ago. My local CU has a 6.5% rate, however I'm looking to both get a truck and make some fixes on this house before it goes on the market. Lightstream still looks like a nice fast way to get it done.

Anyone get a lightstream loan with 35% D/I or greater? It's where I'm at until we move, which will put us at 0% D/I. lol
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If you're gonna sell the house shortly, who gives a shit what the interest rate is? Pay off the loan when the house sells, you're only paying a couple months worth of interest.
 
I agree. I put the rates in since the above post mentioned recent rates and going local was brought up earlier.

What I failed to say clearly is that my using the $ for more than just a truck probably disqualifies me from an auto loan with my CU. That led to me thinking about the D/I ratio requirement for lightstream.
 
KenV said:
I agree. I put the rates in since the above post mentioned recent rates and going local was brought up earlier.

What I failed to say clearly is that my using the $ for more than just a truck probably disqualifies me from an auto loan with my CU. That led to me thinking about the D/I ratio requirement for lightstream.
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Just jump on Lightstream and apply. I've done it once, when I was bored waiting for my new job to start and didn't want to spend my savings on a toy to keep me occupied for a bit....took less than 10 minutes and I had money in my acct. Fuck getting a loan from anywhere else after that experience...so simple and easy and fast.
 
Takotruckin said:
What’s your credit score? I’m pretty sure that’s all Lightstream cares about. They don’t ask for any income verification or anything
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crispins said:
This is correct, I currently have 2 loans with them, they cared about nothing but my credit score.
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2big bronco said:
They started digging a little deeper when I started asking for 50-100k but it was still pretty painless.
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Just saw these because I'm a :homer: today. Thanks Gents.
 
2big bronco said:
They started digging a little deeper when I started asking for 50-100k but it was still pretty painless.
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Yeah, when I got approved for their highest loan amount and longest term offered 3 yrs ago, even with an 800 credit score, they asked me for proof of cash reserves in the bank ( which was actually more cash than the amount of the loan) and a w2 & pay stub. But I sent them the 3 documents they requested and was approved the next day.

And then once approved and they deposited the cash in my bank account, I never heard another word from them- they never asked for any proof that I completed/bought what the loan was for.
 
WTF? said:
Yeah, when I got approved for their highest loan amount and longest term offered 3 yrs ago, even with an 800 credit score, they asked me for proof of cash reserves in the bank ( which was actually more cash than the amount of the loan) and a w2 & pay stub. But I sent them the 3 documents they requested and was approved the next day.

And then once approved and they deposited the cash in my bank account, I never heard another word from them- they never asked for any proof that I completed/bought what the loan was for.
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They asked me for proof of funds in my retirement account and called me to negotiate the loan over the phone. Money was in my account the next day.
 
I’ve done 5 or 6 loans with them from $18k - $26k and all were extremely simple, approval within an hour or so and funds deposited in my account within 48 hours. I’ve also paid off all but two halfway through the loan term and payoff is equally as easy. They are a great source for quick cash.
 
What ever happened to the OP of this thread? Last seen December of ‘23.
 
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