Altitude Financial Corporation Mortgage Rates, Fees & Info

PHOENIX, AZ

LEI: 5493001I7Z53NDBE4X59

Tax ID: 84-4620031

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Altitude Financial Corporation is a smaller mortgage company specializing in Refi and Home Purchase loans. Altitude Financial Corporation has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Tucson, Phoenix, Sierra Vista, Show Low, and Flagstaff among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Altitude Financial Corporation 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. Altitude Financial Corporation is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.68% 4/18/24
    30 Year Conventional Refi 6.43% 4/18/24
    30 Year Cash-out Refi 6.74% 4/18/24
    30 Year FHA Purchase 7.28% 4/18/24
    30 Year FHA Refi 7.22% 4/18/24
    30 Year VA Purchase 6.26% 4/18/24
    30 Year VA Refi 5.96% 4/18/24
    30 Year USDA Purchase 6.62% 4/18/24
    15 Year Conventional Purchase 6.16% 4/18/24
    15 Year Conventional Refi 6.20% 4/18/24
    15 Year Cash-out Refi 6.20% 4/18/24
    15 Year FHA Refi 5.68% 4/18/24
    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.

    Altitude Financial Corporation Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Altitude Financial Corporation. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,854

    Origination Dollar Volume (All Markets)

    $440,900,000
    Show all (17) awards

    Top 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
    TUCSON, AZ (FHA|USDA|VA) 1,597 $381,375,000 $238,807 $2,625 2.79%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 126 $33,120,000 $262,857 $2,816 2.79%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 80 $14,130,000 $176,625 $2,827 2.89%
    Show Low, AZ (FHA|USDA|VA) 14 $3,440,000 $245,714 $3,104 2.75%
    FLAGSTAFF, AZ (FHA|USDA|VA) 8 $2,290,000 $286,250 $2,262 2.88%
    Nogales, AZ (FHA|USDA|VA) 8 $1,290,000 $161,250 $2,681 2.81%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $1,205,000 $401,667 $2,412 3.21%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 5 $1,145,000 $229,000 $2,853 2.72%
    Safford, AZ (FHA|USDA|VA) 5 $1,025,000 $205,000 $3,415 2.88%
    Outside of Metro Areas 3 $745,000 $248,333 $2,674 2.75%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $355,000 $355,000 $2,654 2.63%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $330,000 $165,000 $3,125 3.19%
    GREELEY, CO (FHA|USDA|VA) 1 $295,000 $295,000 $1,172 2.75%
    Payson, AZ (FHA|USDA|VA) 1 $155,000 $155,000 $1,684 2.50%
    Altitude Financial Corporation's top markets include Tucson, Phoenix, Sierra Vista, Show Low, and Flagstaff among others.

    Their top states include:
  • Arizona (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against ALTITUDE FINANCIAL CORPORATION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    First American Bank
    Similarity Rank: 152
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 825
    TRI-EMERALD FINANCIAL GROUP, INC.
    Similarity Rank: 1054
    Armed Forces Bank
    Similarity Rank: 1136
    PIMA Federal Credit Union
    Similarity Rank: 1152
    ARIZONA CENTRAL
    Similarity Rank: 1408
    First Credit Union
    Similarity Rank: 1573
    ALTITUDE FINANCIAL CORPORATION
    Similarity Rank: 2226
    Canyon State Credit Union
    Similarity Rank: 2387
    Western State Bank
    Similarity Rank: 2900

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,550 $364,040,000 $234,865 $2,254 2.85%
    VA 202 $55,730,000 $275,891 $4,352 2.46%
    FHA 99 $20,585,000 $207,929 $5,380 2.69%
    USDA 3 $545,000 $181,667 $3,231 2.58%

    For 2020, Altitude Financial Corporation's most frequently originated type of loan was Conventional, with 1,550 originations. Their 2nd most popular type was VA, with 202 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 931 $212,495,000 $228,244 $1,992 2.76%
    Home Purchase 612 $157,980,000 $258,137 $3,626 2.78%
    Cash Out Refi 311 $70,425,000 $226,447 $2,704 2.96%

    For 2020, Altitude Financial Corporation's most frequently cited loan purpose was Refi, with 931 originations. The 2nd most popular reason was Home Purchase, with 612 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,579 $381,455,000 $241,580 $2,757 2.83%
    15 Year 186 $38,870,000 $208,978 $2,022 2.52%
    20 Year 47 $11,065,000 $235,426 $2,138 2.78%
    Other 26 $6,170,000 $237,308 $2,046 2.88%
    10 Year 16 $3,340,000 $208,750 $1,986 2.49%

    For 2020, Altitude Financial Corporation's most frequently cited loan duration was 30 Year, with 1,579 originations. The 2nd most popular length was 15 Year, with 186 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,488 $357,980,000 $240,578
    $1k-2k 284 $61,380,000 $216,127
    $2k-3k 58 $13,810,000 $238,103
    $3k-4k 14 $3,770,000 $269,286
    $4k-5k 5 $1,725,000 $345,000
    $5k+ 5 $2,235,000 $447,000

    Altitude Financial Corporation's average total fees were $2,757, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,488 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,089 $259,735,000 $238,508
    <2.5% 444 $115,270,000 $259,617
    3-4% 318 $65,400,000 $205,660
    4-5% 3 $495,000 $165,000

    During 2020, Altitude Financial Corporation's average interest rate for loans was 2.83%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,089 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 910 $249,170,000 $273,813 $2,859 2.75%
    $100k-200k 692 $105,870,000 $152,991 $2,301 2.85%
    $400k-600k 167 $77,675,000 $465,120 $3,103 2.74%
    $100,000 or less 83 $6,845,000 $82,470 $2,274 2.99%
    $600k-1MM 2 $1,340,000 $670,000 $6,893 3.19%

    2020 saw Altitude Financial Corporation place emphasis on $200k-400k loans with 910 originations, totaling $249,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 418 $109,770,000 $262,608 $2,688 2.83%
    $50k or less 400 $75,640,000 $189,100 $2,546 2.73%
    $50k-75k 382 $76,780,000 $200,995 $2,719 2.81%
    $75k-100k 325 $74,805,000 $230,169 $2,709 2.80%
    $150k-250k 238 $73,300,000 $307,983 $2,737 2.84%
    $250k+ 91 $30,605,000 $336,319 $2,221 2.77%

    Altitude Financial Corporation lent most frequently to those with incomes in the $100k-150k range, with 418 originations. The second most popular income band? $50k or less, with 400 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 496 $117,540,000 $236,976 $2,301 2.82%
    30-36% 331 $81,085,000 $244,970 $2,834 2.85%
    <20% 280 $61,530,000 $219,750 $2,232 2.79%
    41% 63 $15,095,000 $239,603 $2,845 2.81%
    37% 61 $14,685,000 $240,738 $2,823 2.81%
    42% 56 $12,360,000 $220,714 $2,542 2.89%
    39% 54 $12,450,000 $230,556 $3,247 2.84%
    40% 51 $11,805,000 $231,471 $2,899 2.84%
    43% 49 $11,885,000 $242,551 $3,266 2.83%
    44% 49 $10,735,000 $219,082 $2,921 2.96%
    45% 47 $11,345,000 $241,383 $3,114 2.82%
    36% 42 $11,640,000 $277,143 $2,853 2.84%
    38% 40 $8,850,000 $221,250 $2,658 2.81%
    46% 32 $8,350,000 $260,938 $3,765 2.73%
    50-60% 28 $6,160,000 $220,000 $5,399 2.59%
    49% 25 $5,795,000 $231,800 $2,525 2.73%
    47% 24 $5,470,000 $227,917 $3,306 2.84%
    48% 17 $4,165,000 $245,000 $3,243 2.74%

    Altitude Financial Corporation lent most frequently to those with DTI ratios of 20-30%, with 496 originations. The next most common DTI ratio? 30-36%, with 331 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,616 $383,160,000 $237,104 $2,639 2.80%
    Not provided 169 $41,465,000 $245,355 $2,740 2.79%
    Asian 38 $8,650,000 $227,632 $2,300 2.78%
    Black 25 $6,125,000 $245,000 $3,513 2.86%
    American Indian 6 $1,500,000 $250,000 $2,020 3.15%

    Approval Rates

    Total approvals of all applications
    99.44%

    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
    84.57%

    Altitude Financial Corporation has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,854 $440,900,000 $237,810

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 41 $5,985,000 $145,976
    Single Family (1-4 Units):Site-Built 1,813 $434,915,000 $239,887

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 86 $12,930,000 $150,349 $2,048 2.72%
    40-60% 363 $79,145,000 $218,030 $1,989 2.75%
    60-80% 779 $185,045,000 $237,542 $2,319 2.89%
    80-100% 595 $156,165,000 $262,462 $3,315 2.74%
    Over 100% 24 $6,580,000 $274,167 $9,254 2.45%
    Under 20% 7 $1,035,000 $147,857 $2,252 2.70%