Anchor Home Mortgage Review 2023

Breakdown of Anchor Home Mortgage overall score 

• Affordability: This broker charges a flat underwriting fee.

• Availability: Anchor Home Mortgage works with borrowers in Florida and Georgia only. If you’re in one of these states, you might find better deals working with a broker than going at it alone.

• Borrower experience: You might find a more hands-on experience working with a broker, especially one with high marks like Anchor Home Mortgage.

• Methodology

  Bankrate’s expert editorial team collects lender information through a variety of methods. We contact lenders directly, and we also turn to regulatory filings and to assessments by third parties. Our research takes into account three main factors – affordability, availability and borrower experience.

  Bankrate’s reporters and editors have decades of experience covering the mortgage industry. They’re skilled at gathering information through interviews and by scouring regulatory filings. Bankrate evaluates more than 85 lenders for factors relating to affordability, availability and customer experience, assigning each a Bankrate Score out of five stars. Here’s how we assess each of the categories:

  • Affordability. Loan cost is a deciding factor for many borrowers. We look at two metrics: 1) a lender’s lowest advertised annual percentage rate (APR) based on Bankrate’s sample scenario, which assumes a 740 or higher credit score and a 20 percent down payment, among other factors and 2) established-customer discounts or incentive pricing, when applicable.
  • Availability. Another factor is how quickly your loan application will be approved, and how many loan programs the lender offers. So we evaluate approval and closing timelines and diversity of loan products.
  • Customer experience. Finally, we delve into what it’s like to deal with the lender as a consumer. We look at the lender’s application process and availability of customer service support. We also consider the results of J.D. Power’s 2022 Mortgage Origination Satisfaction Survey.

  Bankrate’s editorial team confirms the accuracy of data at the time of publication. Our team is dedicated to maintaining the timeliness of information – the mortgage industry is changing constantly, so we regularly revisit these reviews to update them.

  Bankrate’s methodology page spells out our rating process in greater detail.

Affordability: 3/5

Anchor Home Mortgage is a broker that works with several lenders, so you won’t find current mortgage rates on its website. It typically charges a $1,050 underwriting fee.

Availability: 4.5/5

Anchor Home Mortgage can connect you to conventional, FHA, VA and USDA loan options, provided you live in one of the two states it works in: Florida or Georgia.

Borrower experience: 4.4/5

Anchor Home Mortgage has been in business for more than 10 years and is accredited by the Better Business Bureau with an A+ rating. The brokers website offers a convenient online application and a range of calculators to help you understand the costs of homebuying and homeownership. Its partner rates, however, aren’t available online To learn more, you can contact the broker at 678-679-7000.

Refinancing with Anchor Home Mortgage

You can refinance an existing loan or do a cash-out refinance with Anchor Home Mortgage. You’ll need to complete an application for more information.

Alternatives to Anchor Home Mortgage

• Optimum First Mortgage review – Also available in Florida and Georgia, plus other states, and refunds fees on the majority of loans
• AmeriSave Mortgage Corporation review – An equivalent rating from the Better Business Bureau, similar closing time and available nearly everywhere (except New York)
• Homefinity mortgage review – Similar closing time and widespread availability