Altitude Financial Corporation Mortgage Rates, Fees & Info
PHOENIX, AZLEI: 5493001I7Z53NDBE4X59
Tax ID: 84-4620031
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Altitude Financial Corporation is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Altitude Financial Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Tucson, Phoenix, Sierra Vista, Nogales, and Show Low among others. Altitude Financial Corporation has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Altitude Financial Corporation is typically an average fee lendor.Originations
3,177Origination Dollar Volume (All Markets)
$787,375,000Awards
ALTITUDE FINANCIAL CORPORATION - 2021
ALTITUDE FINANCIAL CORPORATION is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Altitude Financial Corporation's average 30 year fixed rate mortgage of loans were
3.02%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.13%.
Relative Fees
Altitude Financial Corporation's average total fees for a 30 year fixed rate
mortgage are $3,408.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| TUCSON, AZ (FHA|USDA|VA) | 2,618 | $651,400,000 | $248,816 | $3,245 | 2.96% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 194 | $55,640,000 | $286,804 | $3,086 | 2.97% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 197 | $37,675,000 | $191,244 | $3,603 | 3.01% |
| Nogales, AZ (FHA|USDA|VA) | 79 | $16,605,000 | $210,190 | $3,422 | 3.01% |
| Show Low, AZ (FHA|USDA|VA) | 21 | $4,675,000 | $222,619 | $3,576 | 2.95% |
| Safford, AZ (FHA|USDA|VA) | 20 | $4,190,000 | $209,500 | $3,122 | 3.01% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 10 | $3,680,000 | $368,000 | $2,271 | 2.86% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 6 | $2,750,000 | $458,333 | $4,343 | 2.98% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 7 | $2,465,000 | $352,143 | $2,364 | 2.93% |
| Outside of Metro Areas | 5 | $1,795,000 | $359,000 | $3,467 | 3.18% |
| FORT COLLINS, CO (FHA|USDA|VA) | 4 | $1,480,000 | $370,000 | $1,929 | 2.56% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $3,779 | 3.25% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $2,696 | 3.06% |
| Durango, CO (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $3,402 | 3.00% |
| Stephenville, TX (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $4,607 | 3.13% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $10,826 | 2.63% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,984 | 3.25% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $1,591 | 3.25% |
| Payson, AZ (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $1,499 | 3.63% |
| YUMA, AZ (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $2,999 | 2.69% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,730 | 3.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,533 | 3.00% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,561 | 3.00% |
Altitude Financial Corporation's top markets include Tucson, Phoenix, Sierra Vista, Nogales, and Show Low among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 2,636 | $644,630,000 | $244,549 | $2,653 | 2.98% |
| VA | 264 | $84,070,000 | $318,447 | $6,043 | 2.64% |
| FHA | 255 | $54,535,000 | $213,863 | $6,642 | 3.06% |
| USDA | 22 | $4,140,000 | $188,182 | $3,484 | 2.88% |
For the 2021 period, Altitude Financial Corporation's most frequently originated loan type of loans were Conventional, with 2,636 originations. Their 2nd most popular type is VA, with 264 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 1,488 | $416,010,000 | $279,577 | $4,151 | 3.04% |
| Refi | 947 | $202,535,000 | $213,870 | $2,158 | 2.78% |
| Cash Out Refi | 742 | $168,830,000 | $227,534 | $2,881 | 3.04% |
For the 2021, Altitude Financial Corporation's most frequently cited loan purpose of loans were Home Purchase, with 1,488 originations. The 2nd most popular reason of loans were Refi, with 947 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 2,738 | $694,240,000 | $253,557 | $3,408 | 3.02% |
| 15 Year | 299 | $65,265,000 | $218,278 | $2,361 | 2.51% |
| 20 Year | 87 | $19,405,000 | $223,046 | $2,323 | 2.82% |
| Other | 30 | $5,450,000 | $181,667 | $2,429 | 3.00% |
| 10 Year | 23 | $3,015,000 | $131,087 | $2,018 | 2.39% |
For the 2021, Altitude Financial Corporation's most frequently cited loan length of loans were 30 Year, with 2,738 originations. The 2nd most popular length of loans were 15 Year, with 299 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2,389 | $600,555,000 | $251,383 |
| $1k-2k | 504 | $113,480,000 | $225,159 |
| $3k-4k | 139 | $33,575,000 | $241,547 |
| $2k-3k | 110 | $26,810,000 | $243,727 |
| $5k+ | 35 | $12,955,000 | $370,143 |
$3,408 of loans were Altitude Financial Corporation's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 2,389 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 1,528 | $380,290,000 | $248,881 |
| 3-4% | 1,114 | $276,130,000 | $247,873 |
| <2.5% | 482 | $119,920,000 | $248,797 |
| 4-5% | 53 | $11,035,000 | $208,208 |
During 2021, Altitude Financial Corporation's average interest rate of loans were 3.02%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,528 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 1,571 | $430,745,000 | $274,185 | $3,597 | 2.98% |
| $100k-200k | 1,130 | $174,830,000 | $154,717 | $2,684 | 2.97% |
| $400k-600k | 292 | $140,720,000 | $481,918 | $3,556 | 2.89% |
| $100,000 or less | 149 | $12,075,000 | $81,040 | $2,358 | 2.90% |
| $600k-1MM | 30 | $22,400,000 | $746,667 | $7,611 | 2.84% |
| $1MM+ | 5 | $6,605,000 | $1,321,000 | $11,564 | 3.15% |
2021 saw Altitude Financial Corporation place emphasis on $200k-400k loans with 1,571 originations, totaling $430,745,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 745 | $160,345,000 | $215,228 | $3,522 | 2.99% |
| $100k-150k | 613 | $169,965,000 | $277,268 | $3,105 | 2.95% |
| $50k or less | 594 | $98,170,000 | $165,269 | $3,250 | 2.96% |
| $75k-100k | 582 | $143,160,000 | $245,979 | $3,090 | 3.01% |
| $150k-250k | 410 | $134,190,000 | $327,293 | $3,422 | 2.98% |
| $250k+ | 154 | $60,660,000 | $393,896 | $3,415 | 2.90% |
Altitude Financial Corporation lent most frequently to those with incomes in the $50k-75k range, with 745 originations. The second most popular income band? $100k-150k, with 613 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 752 | $185,820,000 | $247,101 | $2,964 | 2.93% |
| 30-36% | 568 | $142,460,000 | $250,810 | $3,119 | 3.01% |
| <20% | 372 | $84,760,000 | $227,849 | $2,626 | 2.80% |
| 43% | 136 | $32,250,000 | $237,132 | $3,270 | 3.11% |
| 42% | 125 | $31,725,000 | $253,800 | $3,251 | 3.00% |
| 41% | 115 | $29,895,000 | $259,957 | $3,350 | 3.07% |
| 36% | 112 | $27,350,000 | $244,196 | $3,221 | 3.03% |
| 37% | 112 | $28,450,000 | $254,018 | $3,203 | 3.03% |
| 39% | 110 | $28,680,000 | $260,727 | $3,399 | 3.09% |
| 38% | 103 | $24,525,000 | $238,107 | $3,341 | 3.05% |
| 44% | 100 | $23,660,000 | $236,600 | $4,120 | 3.10% |
| 40% | 97 | $23,935,000 | $246,753 | $3,261 | 3.06% |
| 46% | 77 | $16,565,000 | $215,130 | $3,481 | 2.98% |
| 45% | 75 | $18,805,000 | $250,733 | $3,854 | 2.99% |
| 50-60% | 74 | $21,570,000 | $291,486 | $7,257 | 2.79% |
| 47% | 71 | $19,205,000 | $270,493 | $3,824 | 2.96% |
| 49% | 62 | $17,250,000 | $278,226 | $4,588 | 2.99% |
| 48% | 49 | $12,165,000 | $248,265 | $3,573 | 3.03% |
Altitude Financial Corporation lent most frequently to those with DTI ratios of 20-30%, with 752 originations. The next most common DTI ratio? 30-36%, with 568 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 2,603 | $639,165,000 | $245,549 | $3,246 | 2.96% |
| Not provided | 406 | $103,670,000 | $255,345 | $3,297 | 2.94% |
| Asian | 116 | $30,410,000 | $262,155 | $2,942 | 3.02% |
| Black | 39 | $10,405,000 | $266,795 | $4,764 | 2.95% |
| American Indian | 10 | $2,710,000 | $271,000 | $3,851 | 2.80% |
| Native Hawaiian | 3 | $1,015,000 | $338,333 | $2,055 | 2.88% |
Approval Rates
Total approvals of all applications99.36%
Altitude Financial Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination83.20%
Altitude Financial Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,177 | $787,375,000 | $247,836 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3,177 | $787,375,000 | $247,836 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 167 | $26,445,000 | $158,353 | $2,253 | 2.73% |
| 40-60% | 632 | $133,170,000 | $210,712 | $2,354 | 2.80% |
| 60-80% | 1,199 | $300,865,000 | $250,930 | $2,785 | 3.06% |
| 80-100% | 1,130 | $313,430,000 | $277,372 | $4,150 | 2.99% |
| Over 100% | 39 | $11,975,000 | $307,051 | $11,263 | 2.72% |
| Under 20% | 8 | $880,000 | $110,000 | $2,890 | 2.70% |
