Anchor Home Mortgage Review 2021

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At a glance

Anchor Home Mortgage

4.4

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Bankrate Score

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Loans offered

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
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Nationwide availability

Available in Florida and Georgia
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Min. credit score required

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

Pros and cons

Pros

  • Working with a broker, borrowers have access to more lender, loan and rate options
  • Closings typically within 30 days
  • Website provides helpful resources including loan calculators, forms and glossary

Cons

  • Doesn’t offer construction, land/lot or 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.”

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.

Reputation 

Anchor Home Mortgage is accredited by the Better Business Bureau with an A+ rating

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, U.S. Department of Veterans Affairs and U.S. Department of Agriculture. The requirements vary based on the loan and borrower. Stockhoff says 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

Breakdown of Anchor Home Mortgage overall review score 

  • Affordability: 14.75/15
  • Availability: 12/15
  • Borrower experience: 13/15

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.

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Anchor Home Mortgage consumer reviews

4.3

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16 reviews

5 stars
4 stars
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1 stars
13
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Customer service rating

Knowledge
4.3
Level of service
4.4
Professionalism
4.3
Responsiveness
4.4

81% of reviews would recommend this lender

2 of 2 rates honored

Review this lender

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

2 of 2 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.

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Great rate - Great Service - Great Company

MaryAnne | Florida | 10/23/2020

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Great Job by Anchor

Tommy | Florida | 10/23/2020

Written by
David McMillin
Contributing writer
David McMillin writes about credit cards, mortgages, banking, taxes and travel. David's goal is to help readers figure out how to save more and stress less.
Edited by
Mortgage editor