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At a glance
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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)
Available in Florida and Georgia
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
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
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.”
Home equity loans
Home equity lines of credit (HELOCs)
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
Star ranking and total number reflects the lifetime consumer reviews received while this lender has been an advertiser on Bankrate.
Customer service rating
Level of service
81% of reviews would recommend this lender
0 of 0 rates honored
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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.
Great rate - Great Service - Great Company
MaryAnne | Florida | 10/23/2020
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.
Closed on time:Yes
Level of service
Great Job by Anchor
Tommy | Florida | 10/23/2020
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.