Anchor Home Mortgage Mortgage Review 2020

By Erik J. Martin

About our reviews

Bankrate’s editorial team researches, reviews and rates lenders to help you find one that fits your needs. Our experts consider a range of factors, including rates, loan types, time to close, fees and more. Reviews are updated regularly. Bankrate is an independent, advertising-supported comparison service. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.

Anchor Home Mortgage

Bankrate Score

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4.1

User reviews
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( 16 )

4.3

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.

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 president Chris Stockhoff. “Our skilled lending professionals are committed to finding the right loan for your particular needs.”

Nationwide availability

Available in Florida and Georgia

Minimum credit score

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

Loan types

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, streamline (VA/FHA)

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

Find your mortgage match

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

Anchor Home Mortgage overview

Loan types

  • Conventional fixed-rate and adjustable-rate (ARM)
  • Jumbo
  • FHA
  • VA
  • USDA
  • Home equity loans
  • Home equity lines of credit (HELOCs)
  • Refinancing including rate-and-term refinancing, cash-out refinancing, streamline (VA/FHA)

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 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 $510,400: 620, 3% down, 50% DTI
  • High balance (in all counties) loans up to $765,600: 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:

Get started with Anchor Home Mortgage

Borrowers can apply in person in the Alpharetta, Georgia, office, online or by phone. If you apply online, a representative will contact you.

Hours

Monday - Friday: 8:30 a.m. - 7 p.m. EST Contact: 678-679-7000

Anchor Home Mortgage consumer rating and reviews

4.3 reviews
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81% recommended

Customer Service Rating

Knowledge
4.3
Level of service
4.4
Professionalism
4.3
Responsiveness
4.4
0 out of 0 rates honored
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(16 reviews)
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The 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.

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Showing 6 of 6 Reviews
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Bill
Gainesville, Ga

12/12/2019

Stand up Company

The owner of the company stands behind his word to provide 100% satisfaction. Tony was very responsive and always provided great customer service.

Anchor Home Mortgage Inc replied to this:
"Thank you for your feedback! We work very hard to exceed our client's expectations at every possible opportunity. We look forward to assisting you with your future mortgage needs."
Anchor Home Mortgage Inc replied to this:
"Thank you for your feedback! We work very hard to exceed our client's expectations at every possible opportunity. We look forward to assisting you with your future mortgage needs."
Knowledge
4.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
No
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d smith
cohutta,ga

12/24/2019

the team anchor mtg.

The associates worked diligently to procure the best rate for my interest closeing went smoothly would be glad to highly recommend to any needing mortgage financeing

Knowledge
4.0
Level of service
4.0
Professionalism
4.0
Responsiveness
4.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Paul B.
Bradenton, FL

6/26/2020

Professional, Efficient, and Fast!

It took only 16 days from submitting our application for mortgage refinancing until the closing. The systems that Anchor uses make it very easy to communicate and load required underwriting documents. Our Anchor representative (Cori Fraser), and loan processor (Jessica Fountain) were just amazing.....

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Josh Felix
Atlanta, GA

7/24/2020

No Reason To Look Elsewhere! Anchor = Top Notch!

What an incredible experience from start to finish! Every communication was friendly and professional, every promise was met and I was able to secure the best rate overall! I think the piece most people don't take in to account is the educational aspect, Chris and his team truly ensure you are educa...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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MaryAnne
Florida

10/23/2020

Great rate - Great Service - Great Company

The process demands were made easy by Tony Coelho working patiently with me every step of the way. He alerted me to appraisal and title waivers lessoning the loan cost. Anchor delivered all that was promised - which surprised my doubting husband.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Tommy
Florida

10/23/2020

Great Job by Anchor

Anchor was very easy to work with. The entire process was online except for the signing of the closing documents. In Florida, they arranged for my closing on a Saturday. They stayed in constant contact with me and walked me through the process. Excellent service.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes