Anchor Home Mortgage Review 2022

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.

Good for

Borrowers in Florida and Georgia interested in non-QM options and quick closings

Loan types

• Conventional
• Jumbo
• FHA
• VA
• USDA
• Fixed-rate
• Adjustable-rate
• Rate-and-term, cash-out and streamline refinancing
• Home equity line of credit (HELOC)
• Home equity loan
• Non-QM loan

Lender fees

Anchor Home Mortgage charges a $1,050 underwriting fee.

Rates 

Anchor Home Mortgage is a broker that works with several lenders, and does not display mortgage rates on its website.

Online services

The Anchor Home Mortgage website offers a convenient online application and a range of calculators to help borrowers understand the costs of homebuying and homeownership. Rates, however, are not publicly advertised online.

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 Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA) and U.S. Department of Agriculture (USDA). The requirements vary based on the loan and borrower. The broker will consider alternative credit data, such as rent payment history, on loans that allow this information in underwriting.

Refinancing with Anchor Home Mortgage 

You can refinance an existing loan with Anchor Home Mortgage. Cash-out refinances are also available. Refinance rates are not listed online, though. You will need to complete an application for more information. 

Not sure if Anchor Home Mortgage is right for you? Consider these alternatives

• Optimum First Mortgage review: Also available in Florida and Georgia, plus 12 additional 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
• Mr. Cooper mortgage review: A closing guarantee and discount programs
• LoanDepot review: One of the biggest lenders with a fully-online process

Breakdown of Anchor Home Mortgage overall review score 

• Affordability: 3/5
• Availability: 4.3/5
• Borrower experience: 4.3/5

Review methodology

To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.