Anchor Loans Lp Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 549300623VT8YKPHWM78
Tax ID: 46-3223427
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Mortgage Data
Review & Overview
Anchor Loans Lp is a small mortgage company specializing in Home Purchase 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 11/22/24 |
| 30 Year Conventional Refi | 6.27% | 11/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,502Origination Dollar Volume (All Markets)
$1,308,000,000Top 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 | 2,502 | $1,308,000,000 | $522,782 | $0 | 7.74% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 2,502 | $1,308,000,000 | $522,782 | $0 | 7.74% |
For 2021, Anchor Loans Lp's most frequently originated type of loan was Conventional, with 2,502 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 2,189 | $1,123,455,000 | $513,228 | $0 | 7.74% |
| Refi | 313 | $184,545,000 | $589,601 | $0 | 7.73% |
For 2021, Anchor Loans Lp's most frequently cited loan purpose was Home Purchase, with 2,189 originations. The 2nd most popular reason was Refi, with 313 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 1 Year | 2,200 | $1,049,530,000 | $477,059 | $0 | 7.76% |
| Other | 302 | $258,470,000 | $855,861 | $0 | 7.62% |
For 2021, Anchor Loans Lp's most frequently cited loan duration was 1 Year, with 2,200 originations. The 2nd most popular length was Other, with 302 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 1,316 | $722,840,000 | $549,271 |
| 6-7% | 696 | $290,920,000 | $417,989 |
| Over 8% | 490 | $294,240,000 | $600,490 |
During 2021, 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 1,316 originations.
Loan Sizing
2021 saw Anchor Loans Lp place emphasis on $200k-400k loans with 615 originations, totaling $172,295,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 2,502 | $1,308,000,000 | $522,782 | $0 | 7.74% |
Approval Rates
Total approvals of all applications100.00%
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 origination68.90%
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 | 2,502 | $1,308,000,000 | $522,782 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2,502 | $1,308,000,000 | $522,782 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Anchor Loans, Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |