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

Jump to:

  • 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 Home Purchase 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 by origination volume include: Tucson, Sierra Vista, Phoenix, Nogales, and Denver among others. We have data for 19 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 an average 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.68% 12/3/24
    30 Year Conventional Refi 6.43% 12/3/24
    30 Year Cash-out Refi 6.74% 12/3/24
    30 Year FHA Purchase 7.28% 12/3/24
    30 Year FHA Refi 7.22% 12/3/24
    30 Year VA Purchase 6.26% 12/3/24
    30 Year VA Refi 5.96% 12/3/24
    30 Year USDA Purchase 6.62% 12/3/24
    15 Year Conventional Purchase 6.16% 12/3/24
    15 Year Conventional Refi 6.20% 12/3/24
    15 Year Cash-out Refi 6.20% 12/3/24
    15 Year FHA Refi 5.68% 12/3/24
    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

    1,449

    Origination Dollar Volume (All Markets)

    $416,525,000
    Show all (9) 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) 1,149 $336,995,000 $293,294 $4,793 4.76%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 127 $25,745,000 $202,717 $4,403 5.06%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 67 $24,265,000 $362,164 $5,145 5.16%
    Nogales, AZ (FHA|USDA|VA) 75 $17,105,000 $228,067 $4,923 5.25%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 6 $3,500,000 $583,333 $2,750 5.19%
    FLAGSTAFF, AZ (FHA|USDA|VA) 4 $2,090,000 $522,500 $7,122 5.34%
    Show Low, AZ (FHA|USDA|VA) 7 $1,955,000 $279,286 $3,946 5.36%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $750,000 $375,000 $3,140 3.69%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 2 $730,000 $365,000 $3,514 6.00%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $565,000 $565,000 $6,644 3.13%
    Durango, CO (FHA|USDA|VA) 1 $525,000 $525,000 $512 4.38%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $525,000 $525,000 $3,801 5.38%
    Hailey, ID (FHA|USDA|VA) 1 $355,000 $355,000 $4,456 5.63%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $295,000 $295,000 $4,769 7.00%
    Outside of Metro Areas 1 $265,000 $265,000 $8,633 5.13%
    YUMA, AZ (FHA|USDA|VA) 1 $245,000 $245,000 $8,278 4.25%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $235,000 $235,000 $13,226 5.88%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $215,000 $215,000 $3,523 5.63%
    Payson, AZ (FHA|USDA|VA) 1 $165,000 $165,000 $1,435 7.13%
    Altitude Financial Corporation's top markets include Tucson, Sierra Vista, Phoenix, Nogales, and Denver among others.

    Their top states include:
  • Arizona (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Texas (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.

    American Southwest Credit Union
    Similarity Rank: 70
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,094 $314,700,000 $287,660 $3,761 4.86%
    FHA 209 $54,455,000 $260,550 $7,941 4.97%
    VA 117 $41,785,000 $357,137 $8,758 4.48%
    USDA 29 $5,585,000 $192,586 $4,221 4.92%

    For 2022, Altitude Financial Corporation's most frequently originated type of loan was Conventional, with 1,094 originations. Their 2nd most popular type was FHA, with 209 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,081 $334,135,000 $309,098 $5,084 5.00%
    Cash Out Refi 271 $60,755,000 $224,188 $4,087 4.55%
    Refi 97 $21,635,000 $223,041 $3,271 3.89%

    For 2022, Altitude Financial Corporation's most frequently cited loan purpose was Home Purchase, with 1,081 originations. The 2nd most popular reason was Cash Out Refi, with 271 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,362 $397,700,000 $291,997 $4,884 4.91%
    15 Year 58 $12,460,000 $214,828 $2,922 3.89%
    20 Year 15 $3,585,000 $239,000 $3,762 3.92%
    Other 10 $1,580,000 $158,000 $3,094 3.88%
    10 Year 4 $1,200,000 $300,000 $2,953 2.88%

    For 2022, Altitude Financial Corporation's most frequently cited loan duration was 30 Year, with 1,362 originations. The 2nd most popular length was 15 Year, with 58 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 797 $237,915,000 $298,513
    $1k-2k 265 $68,715,000 $259,302
    $2k-3k 137 $34,285,000 $250,255
    $5k+ 97 $35,675,000 $367,784
    $3k-4k 83 $19,885,000 $239,578
    $4k-5k 70 $20,050,000 $286,429

    Altitude Financial Corporation's average total fees were $4,884, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 797 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 463 $134,275,000 $290,011
    3-4% 383 $109,365,000 $285,548
    4-5% 330 $94,780,000 $287,212
    6-7% 159 $44,245,000 $278,270
    2.5-3% 55 $16,225,000 $295,000
    7-8% 53 $15,605,000 $294,434
    <2.5% 5 $1,965,000 $393,000
    Over 8% 1 $65,000 $65,000

    During 2022, Altitude Financial Corporation's average interest rate for loans was 4.91%, while their most frequently originated rate bucket for loans was 5-6%, with 463 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 786 $222,180,000 $282,672 $5,144 4.92%
    $100k-200k 348 $54,200,000 $155,747 $3,372 4.70%
    $400k-600k 195 $93,505,000 $479,513 $6,327 4.86%
    $100,000 or less 66 $5,220,000 $79,091 $2,747 4.82%
    $600k-1MM 48 $32,810,000 $683,542 $4,886 4.76%
    $1MM+ 6 $8,610,000 $1,435,000 $9,107 3.94%

    2022 saw Altitude Financial Corporation place emphasis on $200k-400k loans with 786 originations, totaling $222,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 348 $81,220,000 $233,391 $4,927 4.75%
    $100k-150k 293 $95,015,000 $324,283 $4,939 4.91%
    $75k-100k 275 $74,795,000 $271,982 $5,103 4.99%
    $50k or less 230 $37,080,000 $161,217 $3,541 4.57%
    $150k-250k 202 $81,920,000 $405,545 $5,388 5.01%
    $250k+ 94 $43,390,000 $461,596 $4,571 5.00%

    Altitude Financial Corporation lent most frequently to those with incomes in the $50k-75k range, with 348 originations. The second most popular income band? $100k-150k, with 293 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 260 $74,960,000 $288,308 $4,249 4.79%
    30-36% 241 $68,635,000 $284,793 $4,217 4.77%
    50-60% 99 $28,665,000 $289,545 $8,136 4.84%
    <20% 94 $24,400,000 $259,574 $3,235 4.54%
    44% 76 $23,880,000 $314,211 $5,086 5.08%
    43% 67 $21,115,000 $315,149 $5,116 4.68%
    39% 63 $18,205,000 $288,968 $4,384 4.89%
    42% 57 $16,705,000 $293,070 $4,623 4.71%
    37% 55 $16,065,000 $292,091 $4,779 4.78%
    49% 54 $14,310,000 $265,000 $5,370 5.03%
    38% 54 $14,990,000 $277,593 $4,813 4.95%
    41% 53 $16,025,000 $302,358 $4,216 4.76%
    47% 50 $14,790,000 $295,800 $5,030 5.03%
    45% 49 $12,385,000 $252,755 $4,795 5.31%
    36% 46 $12,950,000 $281,522 $4,593 4.60%
    48% 45 $12,635,000 $280,778 $6,146 5.32%
    40% 45 $13,595,000 $302,111 $4,834 5.05%
    46% 36 $10,000,000 $277,778 $4,796 4.97%
    >60% 1 $65,000 $65,000 $4,756 8.13%

    Altitude Financial Corporation lent most frequently to those with DTI ratios of 20-30%, with 260 originations. The next most common DTI ratio? 30-36%, with 241 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,177 $333,405,000 $283,267 $4,711 4.87%
    Not provided 192 $55,210,000 $287,552 $5,094 4.70%
    Asian 48 $19,080,000 $397,500 $4,958 4.80%
    Black 24 $6,360,000 $265,000 $4,761 4.96%
    American Indian 7 $2,235,000 $319,286 $6,192 5.25%
    Native Hawaiian or Islander 1 $235,000 $235,000 $2,116 3.38%

    Approval Rates

    Total approvals of all applications
    98.60%

    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
    68.81%

    Altitude Financial Corporation has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,449 $416,525,000 $287,457

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,449 $416,525,000 $287,457

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 70 $9,730,000 $139,000 $3,049 4.81%
    40-60% 194 $42,540,000 $219,278 $3,143 4.52%
    60-80% 447 $132,185,000 $295,716 $4,268 4.88%
    80-100% 698 $220,650,000 $316,117 $5,342 4.93%
    Over 100% 28 $10,350,000 $369,643 $15,144 4.48%
    Under 20% 12 $1,070,000 $89,167 $3,115 4.84%