Anchor Loans Lp Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300623VT8YKPHWM78

Tax ID: 46-3223427

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Mortgage Data

Review & Overview

Anchor Loans Lp is a smaller mortgage company specializing in Home Purchase and Refi loans. Anchor Loans Lp has a high proportion of conventional loans.

Anchor Loans Lp has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.27% 3/28/24
30 Year Conventional Refi 6.27% 3/28/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Anchor Loans Lp Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Anchor Loans Lp. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

1,873

Origination Dollar Volume (All Markets)

$941,805,000

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 1,873 $941,805,000 $502,832 $0 8.25%
Anchor Loans Lp's top markets include

Their top states include:
  • California (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,873 $941,805,000 $502,832 $0 8.25%

    For 2020, Anchor Loans Lp's most frequently originated type of loan was Conventional, with 1,873 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,585 $694,585,000 $438,224 $0 8.30%
    Refi 288 $247,220,000 $858,403 $0 7.99%

    For 2020, Anchor Loans Lp's most frequently cited loan purpose was Home Purchase, with 1,585 originations. The 2nd most popular reason was Refi, with 288 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    1 Year 1,246 $561,450,000 $450,602 $0 8.36%
    Other 627 $380,355,000 $606,627 $0 8.04%

    For 2020, Anchor Loans Lp's most frequently cited loan duration was 1 Year, with 1,246 originations. The 2nd most popular length was Other, with 627 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 989 $439,575,000 $444,464
    Over 8% 716 $461,980,000 $645,223
    6-7% 168 $40,250,000 $239,583

    During 2020, Anchor Loans Lp's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 989 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 495 $70,775,000 $142,980 $0 8.14%
    $200k-400k 388 $113,970,000 $293,737 $0 8.40%
    $100,000 or less 338 $23,250,000 $68,787 $0 8.28%
    $400k-600k 247 $118,985,000 $481,721 $0 8.16%
    $600k-1MM 211 $159,965,000 $758,128 $0 8.22%
    $1MM+ 194 $454,860,000 $2,344,639 $0 8.32%

    2020 saw Anchor Loans Lp place emphasis on $100k-200k loans with 495 originations, totaling $70,775,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 1,873 $941,805,000 $502,832 $0 8.25%

    Approval Rates

    Total approvals of all applications
    98.55%

    Anchor Loans Lp has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    56.38%

    Anchor Loans Lp has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,873 $941,805,000 $502,832

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $3,395,000 $679,000
    Single Family (1-4 Units):Manufactured 22 $3,080,000 $140,000
    Single Family (1-4 Units):Site-Built 1,846 $935,330,000 $506,679

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 41 $7,385,000 $180,122 $0 8.60%
    40-60% 275 $103,205,000 $375,291 $0 8.03%
    60-80% 1,505 $792,025,000 $526,262 $0 8.22%
    80-100% 17 $16,205,000 $953,235 $0 8.53%
    Over 100% 22 $21,160,000 $961,818 $0 8.52%
    Under 20% 13 $1,825,000 $140,385 $0 15.08%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Anchor Mortgage, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%