HomeHome ImprovementHome Improvement Loans New Jersey
Advertising Disclosure Acorn Finance receives compensation from some of the companies featured on our website, which may influence the presentation and order of the offers shown. Please note that not all loan options, savings products, or lenders are represented on our site.

Home Improvement Loans in New Jersey

Get personalized rates in 60 seconds for home improvement loans in New Jersey, without affecting your credit score.

How much would you like to finance?

New Jersey Home Improvement Loans

If you’re looking for a home improvement loan in New Jersey, Acorn Finance can help. With Acorn Finance, you can shop and compare offers from our partner network of top national lenders within minutes or at no impact to your credit. Find our more about how you can get the best home improvement loan in New Jersey.

Get Started

Compare rates from top lenders

Helping Homeowners Get Home Improvement Loans in New Jersey

If you're one of the many New Jersey residents spending more time inside and at home these days, you might be more aware of your home's repair and improvement needs. Whether you need to make major repairs or simply complete minor remodeling, if you don't have large amounts of cash at your disposal, a New Jersey home improvement loan can help you bridge the gap. Read on to learn more about home improvement loans in New Jersey.

New Jersey Home Improvement Loans: FAQs

Can you apply for a home improvement loan in New Jersey?

Yes, the state of New Jersey has plenty of home improvement loans available for you on the lending market. There are personal home improvement loans, FHA, VA, USDA, and loans through Fannie Mae or Freddie Mac, as well as home equity loans and home equity lines of credit (HELOC). With so many options available, finding the right loan for you will need to be customized to fit your specific financial situation and home improvement project.

For example, if you already own your home and have at least 20% equity, then you could pursue a home equity loan or home equity line of credit (HELOC). Or, if you don't want to use your home as collateral, you could pursue a personal home improvement loan. Or, if you are a veteran or active-duty military (thank you for your service), you might pursue a VA loan which has no down payment required or mortgage insurance (PMI) as well as lower interest rates.

How do home improvement loans work in New Jersey?

Home improvement loans are available on the market to provide you with the money to maintain, repair, or improve your home.

In most cases, money is funded directly into the personal account of the homeowner who can then use the funds. The loan amount plus any interest and additional fees are then paid in full through monthly payments spread out over a predetermined amount of time. The loan term can be as little as one year for a personal home improvement loan or up to twenty years for a home equity loan or home equity line of credit (HELOC).

The interest paid over the life of the loan will vary based on the competitiveness of the interest rate you find and the duration of the repayment period. The longer the repayment period, the lower the monthly payments, though, more interest is likely to accrue over the life of the loan. On the flip side, if you choose a shorter repayment period, your monthly payments will likely be higher, but you'll likely accumulate less interest overall.

Is getting a home improvement loan in New Jersey worth it?

When considering if a home improvement loan is worth it, consider the following:

  • Project cost: Get estimates for materials and labor. If the project could be paid in cash instead, it might make the overall project less expensive in the long run.
  • Budget: If you're looking for low monthly payments, you'll generally have a longer repayment term. Before solidifying the loan, you should seriously consider how much it will cost you in interest over the life of the loan. Compare multiple offers within 60 seconds or less with no credit impact at Acorn Finance.
  • Debt-to-Income Ratio: Debt-to-income ratio measures how much of your gross monthly income goes to pay debt. Lenders typically prefer a ratio of 35% or less.
  • How long you will be in the home: Homeowners that intended to move within 5 years of the home improvement loan should reconsider. You should have time to pay off the loan, so the timeframe can vary depending on the loan terms - but you get the idea.

Home improvement loans are a great way to access the funds you need to improve your home. Plus, if repaid on time, they can boost your credit score. Whether they are worth it or not will depend on personal circumstances and needs.

How do you find the right New Jersey home improvement loan?

Here are some questions to consider when deciding which type of home improvement loan is right for you:

  1. Do you have equity in your home? If not, you won't qualify for a home equity loan or HELOC. Instead, you'll need to use a personal home improvement loan or alternative.
  2. How fast do you need funding? Personal loans can provide faster funding than HELOCs and home equity loans or government grants.
  3. How good is your credit? If your credit isn't that great, it may be harder to get an unsecured personal home improvement loan with favorable terms compared to a home equity loan or HELOC.
  4. How important is it to save money? Cash is almost always the cheapest option when paying for a home improvement project. However, most homeowners value retaining a savings cushion if possible. So, home equity loans and HELOCs often come with lower interest rates compared to personal loans – but you'll need to consider closing costs.
  5. Do you need your money in one lump sum or over time? A personal loan or home equity loan will give you the funding all at once in a lump sum. Whereas a HELOC will allow you to use credit as you need it.

New Jersey Home Improvement Loan Calculator


Find the loan you're looking for

Table comparing monthly payments, APRs for approved personal loans.
See your options
Take a few minute to answer few questions, and we'll match you with the right range of lenders to consider
Choose your loan
Find your favorite marketplace of offers and apply directly with the lender you prefer
Do your project
If you're approved, use your funds to cover all your costs now, and pay the lender back month by month

What can I do with a $20,000 personal loan?

A $20,000 personal loan has a number of uses, including (but not limited to):
Home improvement Buying a car Wedding costs
Debt consolidation Medical bills Startup business costs

Still have questions?

Find New Jersey Home Improvement Loans at Acorn Finance

Finding the right home improvement loan can be a time consuming and difficult. At Acorn Finance, we have done our best to make the process for finding the right loan much easier. Check offers from our network of trusted lenders without an impact to your credit score! Many homeowners have lots of questions, so here are our common tips when it comes to searching for the right home improvement loans in New Jersey.

What are the requirements for New Jersey home improvement loans?


If you're looking for a home improvement loan in New Jersey, it'll be important to consider what the requirements are. The requirements can vary based on the loan type and lender, however, some of the most common requirements are below:

  • Be at least 18 years old
  • Be a U.S. citizen or permanent resident
  • Have income or available assets
  • Have a valid bank account
  • Have the necessary credit score for your loan and lender

In terms of income, assets, and credit scores, you may expect lenders to want a minimum of a 600-credit score and a debt-to-income ratio below 35%, though requirements vary by lender. To find out which lenders you qualify for, check offers at Acorn Finance.

What can you use a home improvement loan for?


Home improvement loans can be used for a multitude of home improvement projects. Some projects might include:

  • Replacing a garage door (2020 national average of $3,695 with a 94.5% recoup)
  • Doing a minor kitchen remodel (2020 national average of $23,452 with a 77.6% recoup)
  • Doing a major kitchen remodel (2020 national average of $68,490 with a 58.6% recoup)
  • Adding a wooden deck (2020 national average of $14,360 with a 72.1% recoup)
  • Replacing vinyl siding (2020 national average of $14,359 with a 74.7% recoup)
  • Replacing an entryway door (2020 national average of $1,881 with a 68.8% recoup)
  • Replacing an asphalt shingle roof (2020 national average of $24,700 with a 65.9% recoup)
  • Building a new master suite addition (2020 national average of $135,547 with a 53.9% recoup)
  • Adding a manufactured stone veneer around house (2020 national average of $9,357 with a 95.6% recoup)

How much can you borrow with a home improvement loan in New Jersey?


One home, endless possibilities


Personal Loan Information