Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
-
About Anchor Loans
Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $7.1 Billion life-to-date in total loan volume to real estate investors. They have been around since 1998 and they were the first in the industry to lend over $1 Billion in a single year in 2016. Their primary loan programs is their fix and flip. They also offer new construction loans, refinancing, hard money bridge loans, and hard money loans for commercial properties.They offer rates ranging between 8% and 13%, loan amounts ranging from $50,000 to $20,000,000 with a maximum LTV of 75%, and terms between 6 months and 1 year for fix and flip loans.Anchor has flexible guidelines and customized loan programs for borrowers with various levels of experience and credit history to finance a broad range of non-owner occupied residential and commercial properties.
Visit Website
Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans, Refinance / Cash Out Loans, Bridge Loans, Hard Money Loans
Property Types Covered: Single Family, Multi Family, Apartment
Areas Served: AL, AZ, AK, CA, CO, DE, FL, GA, IL, IN, KS, LA, MD, MA, MS, MO, NV, NJ, NY, OH, OK, OR, PA, SC, TN, TX, VA, WA, WI, DC, AR, CT, HI, IA, KY, ME, MI, MT, NC, ND, NE, NH, NM, WV, WY, MN, RI
-
Lending Guidelines for Anchor Loans
Below are the general loan guidelines published on the Anchor Loans website. Please confirm all terms and rates directly with the lender.
Fix and Flip Loans
Loan Amounts: $50,000 - $20,000,000
Available Rates: 7.99% - 13%
Typical Terms: 6 months - 12 months
Points Charged: 1% - 4%
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: N/A
Time to Close: 5 DaysCommercial Hard Money Loans
Loan Amounts: $50,000 - $10,000,000
Available Rates: 9% - 13%
Typical Terms: 6 months - 12 months
Points Charged: 2% - 4%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 620
Time to Close: N/ANew Construction Loans
Loan Amounts: $50,000 - $10,000,000
Available Rates: 9% - 13%
Typical Terms: 6 months - 12 months
Points Charged: 2% - 4%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 620
Time to Close: N/ARefinance / Cash Out Loans
Loan Amounts: $50,000 - $10,000,000
Available Rates: 9% - 13%
Typical Terms: 6 months - 12 months
Points Charged: 2% - 4%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 620
Time to Close: N/ABridge Loans
Loan Amounts: $50,000 - $10,000,000
Available Rates: 9% - 13%
Typical Terms: 6 months - 12 months
Points Charged: 2% - 4%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 620
Time to Close: N/AHard Money Loans
Loan Amounts: $50,000 - $20,000,000
Available Rates: 7.99% - 13%
Typical Terms: 6 months - 12 months
Points Charged: 1% - 3%
Max Loan-to-Value (LTV): 75%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: N/A
Time to Close: 5 Days -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by Anchor Loans.
Loan Example 1
Don is an investor in Houston, TX. He discovers an older property for sale and wants to rehab it and sell it for a profit. The house costs $200,000 but he does not have the full amount so he obtains a fix-and-flip loan with Anchor Loans. The loan-to-value (LTV) on the note is 85%. This means that Don will need to bring 15% of the purchase price to the closing and the principle will be $170,000 on the note. The parameters of the deal dictate a 9% note for 6 months. They also require a 3 point origination fee, that will also need to be paid upon closing.
The borrower must contribute a total of $32,400 upon closing to cover the $30,000 down payment in addition to the $5,100 origination fee. After the deal closes, he will need to pay the lender $1,275 in monthly interest fees, or 9% multiplied times $170,000 divided by 12 months in a year. At the end of the note, he sells the renovated house for $300,000. After subtracting the $7,650 in interest expenses ($1,275 multiplied times 6 months), the $5,100 origination fee, the $170,000 principle on the note, and the $30,000 he contributed to the closing, he will earn a total profit of $87,250 ($300,000 sales price minus $212,750 in costs). This profit would be reduced by any renovation costs paid by Don.
Loan Example 2
Anchor Loans issues a fix and flip loan to Maurice for a renovation project in Houston, TX. The deal includes the following:
$310,000 purchase price
55% loan-to-value (LTV)
6 month term
13% interest rate
3% origination feeMaurice plans to list the project when the note expires for $403,000. If he achieves this goal, the outcome will be as follows:
$403,000 sales price
- $170,500 loan principle (55% LTV)
- $139,500 cash paid at closing (45% on 55% LTV)
- $5,115 origination points (3% of the $170,500 principle)
- $11,083 interest payments (6 months x 13% interest)
-----------------------
= $76,803 total profit (does not include taxes or rehab costs) -
Yelp! Review
by Holly M. 09/06/2024 Tom Taylor at Anchor loans continues to EXCEED EXPECTATIONS! I currently have 6 loans with Anchor and couldn't be happier with their level of service and...
Read more on Yelp!Tom Taylor at Anchor loans continues to EXCEED EXPECTATIONS! I currently have 6 loans with Anchor and couldn't be happier with their level of service and...
Read more on Yelp!Yelp! Review
by Francis K. 06/28/2024 Yelp! Review
by James C. 12/08/2023 As a professional real estate investor, I've used Anchor loans in the past about 10 years ago, and until recently I've tried to contact to get a loan for a...
Read more on Yelp!As a professional real estate investor, I've used Anchor loans in the past about 10 years ago, and until recently I've tried to contact to get a loan for a...
Read more on Yelp!Yelp! Review
by Ron H. 12/08/2023 As a professional real estate investor, I've used Anchor loans in the past about 10 years ago, and until recently I've tried to contact to get a loan for a...
Read more on Yelp!As a professional real estate investor, I've used Anchor loans in the past about 10 years ago, and until recently I've tried to contact to get a loan for a...
Read more on Yelp!Yelp! Review
by Martha S. 10/18/2022 I would give -1 if I could. Run from this company! After a 45 day loan, they wanted a one week extension and still could not perform. Why? Because they...
Read more on Yelp!I would give -1 if I could. Run from this company! After a 45 day loan, they wanted a one week extension and still could not perform. Why? Because they...
Read more on Yelp!by JH1 Homes 10/16/2021
I do high volume flips & development in the seattle area and have almost only positive feedback. Every hard money lender has issues so you have to roll with the punches. I have worked with about 5 different ones over the years. Anchor offers the best rates for top performers and has funded some larger development deals and saved my bacon when other lenders wouldn’t help, because they trusted me and my experience as an investor. If you prove yourself and build a solid relationship they will take care of you!
I do high volume flips & development in the seattle area and have almost only positive feedback. Every hard money lender has issues so you have to roll with the punches. I have worked with about 5 different ones over the years. Anchor offers the best rates for top performers and has funded some larger development deals and saved my bacon when other lenders wouldn’t help, because they trusted me and my experience as an investor. If you prove yourself and build a solid relationship they will take care of you!by Mench 07/29/2021
I was approve of my loan but then waiting for my payment receipt to and it seems financial dept is ignoring my message. No response at all. Can I hear from you Sir Steve and make an immediate action on the status of my approve loan.
I was approve of my loan but then waiting for my payment receipt to and it seems financial dept is ignoring my message. No response at all. Can I hear from you Sir Steve and make an immediate action on the status of my approve loan.by Dina K 01/25/2021
We’ve used Anchor Loans now for the third time and we have to say that our experience with them has been great. After the initial account sign up process, all of our deals have funded within a couple of days.
We’ve used Anchor Loans now for the third time and we have to say that our experience with them has been great. After the initial account sign up process, all of our deals have funded within a couple of days.by MattFlips 01/21/2021
Anchor Loans was able to fund my deal within a couple days. I would have lost my deal if I had not found them on time. Great support through the process from their processing team.
Anchor Loans was able to fund my deal within a couple days. I would have lost my deal if I had not found them on time. Great support through the process from their processing team.by _mikemankowski 12/06/2020
In 2 years our company has done well into 50 deals, 95% fix and flips. Anchor reached out to fund a few deals, promising a great experience. I can not express to whoever reads this how piss poor this company operates. How they even are allowed to lend is unbelievable to me. It took over 60 days alone to close 3 deals with them. Before closing they changed terms from 90% financing to 80% financing. Email responses took days for simple questions. Now during our flips, it has taken over a month to get a repair draw sent after filling out all necessary paperwork. Which by the way, should be done by the draw inspector. Complete nightmare. This is an absolute joke of a company. Go elsewhere - go ANYWHERE but with Anchor.
In 2 years our company has done well into 50 deals, 95% fix and flips. Anchor reached out to fund a few deals, promising a great experience. I can not express to whoever reads this how piss poor this company operates. How they even are allowed to lend is unbelievable to me. It took over 60 days alone to close 3 deals with them. Before closing they changed terms from 90% financing to 80% financing. Email responses took days for simple questions. Now during our flips, it has taken over a month to get a repair draw sent after filling out all necessary paperwork. Which by the way, should be done by the draw inspector. Complete nightmare. This is an absolute joke of a company. Go elsewhere - go ANYWHERE but with Anchor.Yelp! Review
by Robert N. 09/25/2020 by sean 07/08/2020
I would stay away!! Anchor does many things that are not above board. They sell the notes and to service debt that is not theirs. They short the investors that give them money which are called "Junior Lenders". This is illegal!! They are a lender that will set you up for failure. They are currently in litigation with my company and they want me to drop my case against them in exchange for payoffs. Really!! I have been wanting these loans paid off for a year but they continue to collude with another lender "Aloha Capital" to try and "strong arm" me into dropping my case. Look up "RICO" and you will see that lenders with these tactics fit right in the "RICO" charge. Contact me if you have been forced into "Deeds in Lieu" and or Bankruptcy. Have your attorney look up cases where Anchor Loans was the defendant and you will see the trend. We have gathered information from other victims and will not stop.
I would stay away!! Anchor does many things that are not above board. They sell the notes and to service debt that is not theirs. They short the investors that give them money which are called "Junior Lenders". This is illegal!! They are a lender that will set you up for failure. They are currently in litigation with my company and they want me to drop my case against them in exchange for payoffs. Really!! I have been wanting these loans paid off for a year but they continue to collude with another lender "Aloha Capital" to try and "strong arm" me into dropping my case. Look up "RICO" and you will see that lenders with these tactics fit right in the "RICO" charge. Contact me if you have been forced into "Deeds in Lieu" and or Bankruptcy. Have your attorney look up cases where Anchor Loans was the defendant and you will see the trend. We have gathered information from other victims and will not stop.by Iowanpro1 03/20/2020
Invested in many properties and many hard money lenders. Horrible to deal with...sent information to over three times and can never find it. Terms are horrid. Prey on you on 3 month extensions. Not helpful. Would rather lose a property than ever deal with them.
Invested in many properties and many hard money lenders. Horrible to deal with...sent information to over three times and can never find it. Terms are horrid. Prey on you on 3 month extensions. Not helpful. Would rather lose a property than ever deal with them.Yelp! Review
by Josh J. 03/20/2020 Invested in many properties and many hard money lenders. Horrible to deal with...sent information to over three times and can never find it. Terms are...
Read more on Yelp!Invested in many properties and many hard money lenders. Horrible to deal with...sent information to over three times and can never find it. Terms are...
Read more on Yelp!Yelp! Review
by Lincoln F. 03/16/2020 I can't believe all the low ratings this company have. I have worked with them on one deal completed. Now my second deal is near completion. I'm about to...
Read more on Yelp!I can't believe all the low ratings this company have. I have worked with them on one deal completed. Now my second deal is near completion. I'm about to...
Read more on Yelp!Yelp! Review
by Pete S. 03/12/2020 by Cornerstone Homes 11/30/2019
I wish I could have put a no star rating. But to leave a review I had to put at least one. This is the most inept group of people I have ever had the misfortune to work with. From the originator to the lack of knowledge processors to the underwriter. We were very out front about our situation and after going back and forth for over 6 weeks.....we decided to walk away. There are good hard money lenders.....hard pass on this one.
I wish I could have put a no star rating. But to leave a review I had to put at least one. This is the most inept group of people I have ever had the misfortune to work with. From the originator to the lack of knowledge processors to the underwriter. We were very out front about our situation and after going back and forth for over 6 weeks.....we decided to walk away. There are good hard money lenders.....hard pass on this one.by ChicagoNWSinvestor 11/29/2019
This is a sub prime, hard money, 2% origination, 12% interest, interest only loan, 20% down, and you have to show all the payments AND rehab budget in a bank account. They will change the numbers, delay, and force you into a closing. WATCH OUT!!
This is a sub prime, hard money, 2% origination, 12% interest, interest only loan, 20% down, and you have to show all the payments AND rehab budget in a bank account. They will change the numbers, delay, and force you into a closing. WATCH OUT!!Yelp! Review
by Mike H. 11/27/2019 EVERYTHING PEOPLE ARE SAYING IS TRUE!!! THESE PEOPLE ARE CROOKS!!!! They will start off great, saying and doing all the right things, but there is a...
Read more on Yelp!EVERYTHING PEOPLE ARE SAYING IS TRUE!!! THESE PEOPLE ARE CROOKS!!!! They will start off great, saying and doing all the right things, but there is a...
Read more on Yelp!Yelp! Review
by Angel B. 11/02/2019 They are nothing but liars!! They claim they want to help you when you get in a pinch, but claim they never said that, hummm i have emails!! filed a...
Read more on Yelp!They are nothing but liars!! They claim they want to help you when you get in a pinch, but claim they never said that, hummm i have emails!! filed a...
Read more on Yelp!Yelp! Review
by Ernest D. 07/18/2019 I would highly recommend this company. Our loan originator and his team were absolutely amazing and a pleasure to work with. I am highly satisfied with...
Read more on Yelp!I would highly recommend this company. Our loan originator and his team were absolutely amazing and a pleasure to work with. I am highly satisfied with...
Read more on Yelp!by JosephP 05/08/2019
Anchor loans closed our loan really fast and without any hassle, unlike other lenders we have used in the past. We will definitely use them again in the future.
Anchor loans closed our loan really fast and without any hassle, unlike other lenders we have used in the past. We will definitely use them again in the future.Yelp! Review
by Mags M. 05/01/2019 Savy investors - save yourself the unbelievable headache of contemplating financing with this incredibly incompetent organization whom is nothing short of...
Read more on Yelp!Savy investors - save yourself the unbelievable headache of contemplating financing with this incredibly incompetent organization whom is nothing short of...
Read more on Yelp!Yelp! Review
by Anonymous M. 12/06/2018 Their rep Tom Taylor is awful to work with. He is short on the phone, does not give full information, and is rude. There are other staff members that are...
Read more on Yelp!Their rep Tom Taylor is awful to work with. He is short on the phone, does not give full information, and is rude. There are other staff members that are...
Read more on Yelp!Yelp! Review
by Danyel C. 10/05/2018 Recently, I have had the pleasure of working with Kiron who is in the insurance department at Anchor Loans! He has been very professional and prompt with...
Read more on Yelp!Recently, I have had the pleasure of working with Kiron who is in the insurance department at Anchor Loans! He has been very professional and prompt with...
Read more on Yelp!Yelp! Review
by Mr. Bowtie A. 09/25/2018 WARNING ! DO NOT USE ANCHOR LOANS ON ANY OF YOUR DEALS !! I do about 15 deals a year and have given them PLENTY of business and money but the level of...
Read more on Yelp!WARNING ! DO NOT USE ANCHOR LOANS ON ANY OF YOUR DEALS !! I do about 15 deals a year and have given them PLENTY of business and money but the level of...
Read more on Yelp!Yelp! Review
by John J. 09/08/2018 Was told that to borrow 50,000 the terms were 2 points(1,000) and 11% interest. After submitting the requested documentation 7 days later I was told "we...
Read more on Yelp!Was told that to borrow 50,000 the terms were 2 points(1,000) and 11% interest. After submitting the requested documentation 7 days later I was told "we...
Read more on Yelp!Yelp! Review
by Jill J. 07/26/2018 Anchor Loans is the worst ever. Whatever you do, do not use Anchor Loans for any real estate financing. Their staff are rude, they'll completely screw up...
Read more on Yelp!Anchor Loans is the worst ever. Whatever you do, do not use Anchor Loans for any real estate financing. Their staff are rude, they'll completely screw up...
Read more on Yelp!Yelp! Review
by Tom G. 11/03/2016 My experience with Anchor Loans has been nothing short of amazing! Stephanie A. went above and beyond to help our loan fund on time, and her responsiveness...
Read more on Yelp!My experience with Anchor Loans has been nothing short of amazing! Stephanie A. went above and beyond to help our loan fund on time, and her responsiveness...
Read more on Yelp!Yelp! Review
by Eric S. 05/05/2016 One of the benefits of buying a new construction home is that it comes with a builder's warranty. But the warranty is only as good as the integrity of the...
Read more on Yelp!One of the benefits of buying a new construction home is that it comes with a builder's warranty. But the warranty is only as good as the integrity of the...
Read more on Yelp!Yelp! Review
by Claire S. 11/19/2014 After the problems I was experiencing with them were brought to the management's attention, they did their best to remedy the situation, and I really...
Read more on Yelp!After the problems I was experiencing with them were brought to the management's attention, they did their best to remedy the situation, and I really...
Read more on Yelp!
Your Information is Processing