FAQs - Home Improvement Financing


Who is Acorn Finance?

Acorn Finance is a lending marketplace where the nation’s top online consumer lenders pre-qualify customers for personalized loan options in 60 seconds, with no impact to their credit score.

Acorn Finance uses an initial soft credit inquiry to provide access (for eligible individuals) to competitive loan offers through a fast and easy online process.


What types of lending options are available?

Depending on the lender that fits you best, you may be offered a personal loan or personal line of credit.

A personal loan lets you borrow money now and pay it back over time with fixed monthly payments. Personal loans have fixed rates of interest and typically have terms ranging from 2 to 12 years. They may be unsecured (no collateral) or secured (collateral required).

A personal line of credit allows you to borrow at any time based on a preset limit. As long as your account is open and your credit remains in good standing, you can borrow up to the maximum amount and pay interest only on the amount you actually borrow.


What are Acorn Finance’s credit requirements?

Acorn Finance is an online lending marketplace where you can easily compare rates and monthly payments from different lenders without impacting your credit score. Anyone can check for offers on Acorn Finance.

However, each lender that participates on the Acorn marketplace has a specific set of credit requirements that helps them determine, based on risk, who to lend money to. These requirements typically includes things like:

    • Your credit score
    • Your employment status and income level
    • Your credit history

Your debt-to-income ratio (lenders typically look to see if your outstanding debt obligations plus any new debt can be supported by your income so they can evaluate how likely it is that you will be able to repay the loan)

Generally speaking, the minimum credit score our lenders consider is around 560.

They also look at other information from your credit report to determine your eligibility for a loan. For example, if you have a recent bankruptcy filing or have missed payments on loans or credit cards within the past few years, the lenders may not provide offers.


Does Acorn finance require a minimum credit score to check offers?

There is no minimum credit score requirement to check offers on Acorn Finance. Using your submitted application information and a soft credit check, our network of lenders will evaluate your loan request in seconds to see if you are pre-qualified for offers.

Each lender has an established underwriting formula and typically includes factors such as your credit history, your current debt-to-income ratio, and your employment status in determining your creditworthiness and what offers you qualify for.


How much can be borrowed?

Acorn Finance's network of lenders offers loans from $2,000 to $100,000 for qualified borrowers.


What can the funds be used for?

Anything. For instance, your purchase with Honest Home.


How long does it take to get approved?

Qualified applicants can be approved quickly during business hours and may receive their funds as soon as within 1 business day.


Are there any fees?

Acorn Finance's lenders charge no penalties for early repayment, and no processing fees on loans of more than $40,000. If you borrow less than $40,000, some lenders may charge an origination fee between 1-6%. You’ll see no-fee options clearly highlighted on your offers pages, so you can make a fully informed choice.


Can a co-borrower be included?

Yes. Co-borrowers are encouraged to apply, and can be added immediately after the initial applicant submits their information.


Does Acorn Finance have a phone number to call?

Yes, Acorn's phone number is: 916-404-1982


To initiate the home improvement financing process for your project simply click on Get Started.

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