Altitude Financial Corporation Mortgage Rates, Fees & Info

PHOENIX, AZ

LEI: 5493001I7Z53NDBE4X59

Tax ID: 84-4620031

5 stars - out of 5 stars, based on 56 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

3,177

Origination Dollar Volume (All Markets)

$787,375,000
Show all (13) awards

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 applications
99.36%

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 origination
83.20%

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%