Anchor Home Mortgage Mortgage Review 2021

By Erik J. Martin

Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.

At a glance

Anchor Home Mortgage

4.0

  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon

Bankrate Score

Find your mortgage match

Get paired with your best mortgage offers in 2 minutes or less.

Find my best matches
Mortgage percent icon

Loans offered

Conventional fixed-rate and adjustable-rate (ARM), jumbo, FHA, VA, USDA, home equity loans, home equity lines of credit (HELOCs); refinancing options include rate-and-term refinancing, cash-out refinancing and streamline (FHA/VA)
Location Icon

Nationwide availability

Available in Florida and Georgia
Credit good icon

Min. credit score required

620 for conventional loans; 680 for jumbo loans; 580 for FHA loans; 660 for home equity loans; 680 for HELOCs

Pros and cons

Pros

  • Working with a broker, customers have access to more lender, loan and rate options
  • Closings typically within 14 days
  • Website provides helpful resources including loan calculators, forms and glossary

Cons

  • Doesn’t offer construction loans or land/lot loans
  • Doesn’t offer rehab loans
  • Only available in two states

Anchor Home Mortgage overview

Anchor Home Mortgage is an online mortgage broker with one brick-and-mortar location that originates loans for over 50 lenders and banks. The company was established in 2008 and is headquartered in Alpharetta, Georgia. “We’ve served over 20,000 customers, and we pride ourselves on closing in under two weeks and offering some of the best mortgage rates available,” says company president Chris Stockhoff. “Our skilled lending professionals are committed to finding the right loan for your particular needs.”

Loan types

  • Conventional fixed-rate
  • Adjustable-rate (ARM)
  • Jumbo
  • FHA
  • VA
  • USDA
  • Home equity loans
  • Home equity lines of credit (HELOCs)
  • Rate-and-term refinancing
  • Cash-out refinancing
  • Streamline (FHA/VA)

Lender fees

Anchor Home Mortgage charges a single underwriting flat fee between $495 and $1,050, depending on the loan product and purpose.

Minimum borrower requirements

Anchor Home Mortgage adheres to the conforming loan requirements and underwriting guidelines for mortgages approved by government-sponsored enterprises (GSEs) Fannie Mae, and Freddie Mac, as well as those backed by the FHA, VA and USDA. Requirements will vary based on the loan and borrower. In general, minimum FICO scores, minimum down payment and maximum debt-to-income ratio (DTI, the percentage of your monthly gross income used to pay debts) can range from, respectively:

  • Conforming loans up to $548,250: 620, 3% down, 50% DTI
  • High balance (in all counties) loans up to $822,375: 680, 10% down, 45% DTI
  • Jumbo loans up to $3.5 million: 680, 10% down, 45% DTI
  • FHA loans: 580, 3.5% down, 57% DTI
  • VA loans: 640, 0% down, 57% DTI
  • USDA loans: 640, 0% down, 43% DTI

Other mortgage lender reviews:

Find your mortgage match

Get paired with your best mortgage offers in 2 minutes or less.

Anchor Home Mortgage consumer reviews

4.3

  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon

16 reviews

5 stars
4 stars
3 stars
2 stars
1 stars
13
0
0
1
2

Customer service rating

Knowledge
4.3
Level of service
4.3
Professionalism
4.4
Responsiveness
4.4

81% of reviews would recommend this lender

0 of 0 rates honored

Review this lender

Write a review of your experience with Anchor Home Mortgage Inc.

4 of 4 reviews

The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.

  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon

Professional, Efficient, and Fast!

Paul B. | Bradenton, FL | 6/26/2020

  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon

No Reason To Look Elsewhere! Anchor = Top Notch!

Josh Felix | Atlanta, GA | 7/24/2020

  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon

Great rate - Great Service - Great Company

MaryAnne | Florida | 10/23/2020

  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon

Great Job by Anchor

Tommy | Florida | 10/23/2020