Anchor Loans Surpasses $5 Billion in Loan Originations
Anchor Loans, the nation's number one hard-money lender to the fix-and-flip industry, has exceeded $5 billion in loan originations since the company's inception in 1998. Anchor is the nation's first private lender to fix-and-flip investors to reach this milestone.
According to Stephen Pollack, "This is the second consecutive year that we have originated over $1 billion in loans in a single year. Surpassing $5 billion total, and $1 billion in a single year, are firsts for our industry."
A breakdown of characteristics for Anchor Loans found on privatelenderlink.com are as follows:
Loan Amounts: $50,000 to $10,000,000
Where We Lend: AL, AZ, AK, CA, CO, CT, DE, FL, GA, IL, IN, KS, LA, MD, MA, MI, MS, MO, NV, NJ, NM, NY, NC, OH, OK, OR, PA, SC, TN, TX, VA, WA, WI, & D.C. (as of 6/2017)
Loan Types: Purchase, Refinance, Rehab, Construction, Rental
Property Types: (Non-Owner occupied ONLY) Single-family residences, duplexes, triplexes, quadruplexes, apartments and other commercial properties
LTC (loan-to-cost): up to 80% | up to 85% in California
LTV (loan-to-value): up to 65% ARV | up to 75% in California
Interest Rates: 9% to 13% | 8% to 12% in California
Origination Fee: 2.0 to 4.0 points
Loan Term: 6 to 12 months
Lien Position: 1st only
Payment: Monthly interest-only
Minimum Credit Score: 620+ preferred (lower on a case-by-case basis)
No Pre-payment Penalty (except on rental loans)
Disclaimer - This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product.