Recreational loans overview

For secured recreational loans, there is no set credit score requirement, although higher credit scores are generally viewed more favorably and can result in lower interest rates. Other factors are also considered when you apply for a loan, including but not limited to your income, debt-to-income ratio, and any down payment you plan to make.

The LightStream unsecured loan requires good-to-excellent credit profiles.

Here are some characteristics we find people with good-to-excellent credit share:

• Credit history: Several years of credit history (excellent credit profiles have 5 or more years) with a variety of account types, including major credit cards, installment loans, vehicle loans, and mortgage debt, if applicable.

• Assets: The ability to save money, shown by retirement or investment accounts, as well as liquid assets such as checking and savings accounts.
• Income vs debt: Stable income and assets with the ability to repay current debt obligations in addition to the new LightStream unsecured loan. (Excellent credit profiles typically include little, if any, credit card debt.)

• Payment history: A good-to-excellent payment history with few or no late payments, and no other problems repaying debt.


Everyone’s credit profile is unique, and during our approval process, we look beyond your credit score and examine your entire credit profile. Please note: A high FICO® score doesn’t guarantee approval.

Note for joint applicants: Each party on an application is reviewed equally since they share responsibility for this loan.

Generally, recreational loan terms range from 60 to 240 months, although 60 to 180 months is common. Your monthly payment will depend on the amount you borrow and your interest rate. Longer terms can result in lower monthly payments, while shorter terms decrease the amount you’ll pay in interest. Comparing multiple options can help you find the best terms for your situation.

Refinancing your recreational loan can be a great way to take advantage of lower interest rates and decrease your monthly payments.

Depending on your location, we offer two different options for refinancing: the Truist secured recreational loan and the LightStream unsecured recreational loan.

Some things to know about each:

• If you have an existing Truist secured recreational loan, you’ll need to make six (6) contractual payments before you can refinance.
• LightStream unsecured recreational loan proceeds cannot be used to refinance an existing LightStream loan or be used for cash out refinance purposes.

Keep in mind that the recreational vehicle title must be in your name, and you’ll need a copy of your current registration before you can refinance your existing loan. A Truist teammate can help you explore the best option for your situation.

There are no pre-payment penalties for paying off your loan early. There are many factors you’ll need to consider when deciding if paying off your loan early is the right move. Learn more about paying off debt vs. investing.