Information
About lender
Headway Sales Inc. DBA Acorn Finance is a financial institution offering home improvement financing. It provides a platform for lenders and applicants and connects them.
You don’t pay any fees to the company, as it collects payments from the elders. The terms you see on the company’s page are those for the best credit and financial situation borrowers. Depending on your situation, the terms will be different.
The company is located in California and currently services 47 states of the US. Exceptions are Massachusetts, Nevada, and Rhode Island.
Pros and cons
Pros
You pay no dealer fees. It is free for contractors, as the company charges lenders.
The application doesn’t affect your credit score.
The funds are deposited quickly: within one business day.
Cons
The terms you will see on the company’s website are only advertised ones. You may get higher APRs.
It is not a direct lender but a platform advertising different offers.
Terms and conditions
There are options for home improvement financing, home remodel financing, and building financing. In those major categories, you may receive funds for almost any type of expense related to your home.
You can borrow from $1,000 to $100,000, depending on your financial and credit situation. California and Texas have minimum amounts of $2,000.
The best loan terms you can get are interest rates in the form of APR as low as 5.73% and repayment terms of up to 12 years.
The advertised terms for good credit borrowers are 8.94% on a $10,000 loan. The payments will be 84 months, and you will be paying $161 per month. These terms are illustrated and may differ from what you will get.
Funding a loan
You pre-qualify for a personalized loan option in 60 seconds without any affect on your credit score. The company will use a soft credit check.
The qualified customer can be approved during business hours and receive funds on the same business day. In most cases, the funds are deposited within 24-48 hours after the application.
The services of Acorn Finance are available across the country, except for MA, NV, and RI states.
