Altura Mortgage Rates, Fees & Info
Riverside, CALEI: 549300TG5MQ8D4SYP955
Tax ID: 95-2023588
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Mortgage Data
Review & Overview
Altura is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Altura has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Riverside, Los Angeles, San Diego, Santa Maria, and San Luis Obispo among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)Altura has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Altura 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.05% | 9/25/23 |
| 30 Year Conventional Refi | 6.26% | 9/25/23 |
| 30 Year Cash-out Refi | 6.30% | 9/25/23 |
| 15 Year Conventional Purchase | 5.50% | 9/25/23 |
| 15 Year Conventional Refi | 5.87% | 9/25/23 |
| 15 Year Cash-out Refi | 5.87% | 9/25/23 |
| 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. | ||
Altura Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
396Origination Dollar Volume (All Markets)
$106,730,000Awards
ALTURA - 2022
ALTURA is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Altura's average 30 year fixed mortgage rate was
4.27%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.49%.
Relative Fees (Closing Costs)
Altura's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,246.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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 |
|---|---|---|---|---|---|
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 356 | $82,180,000 | $230,843 | $3,025 | 5.30% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 16 | $15,570,000 | $973,125 | $5,007 | 4.38% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 6 | $3,300,000 | $550,000 | $7,233 | 4.84% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $1,905,000 | $1,905,000 | $0 | 3.99% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $5,794 | 5.00% |
| Outside of Metro Areas | 1 | $485,000 | $485,000 | $5,262 | 3.88% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $10,669 | 3.63% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,807 | 5.25% |
| Red Bluff, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,620 | 4.63% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $3,331 | 5.13% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,921 | 4.38% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,904 | 5.13% |
| TYLER, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,984 | 4.50% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $4,450 | 4.19% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,238 | 5.13% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,745 | 5.38% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,172 | 3.50% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,629 | 3.88% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,610 | 7.49% |
Similar Lenders
We use machine learning to identify the top lenders compared against ALTURA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 316
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 395 | $106,695,000 | $270,114 | $3,227 | 5.22% |
| USDA | 1 | $35,000 | $35,000 | $0 | 8.81% |
For 2022, Altura's most frequently originated type of loan was Conventional, with 395 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2022, Altura's most frequently cited loan purpose was Cash Out Refi, with 149 originations. The 2nd most popular reason was Home Improvement, with 77 originations.
Loan Duration/Length
For 2022, Altura's most frequently cited loan duration was 30 Year, with 213 originations. The 2nd most popular length was 20 Year, with 141 originations.
Origination Fees/Closing Costs
Altura's average total fees were $4,246, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 187 originations.
Interest Rates
During 2022, Altura's average interest rate for loans was 4.27%, while their most frequently originated rate bucket for loans was 3-4%, with 115 originations.
Loan Sizing
2022 saw Altura place emphasis on $200k-400k loans with 119 originations, totaling $34,455,000 in origination value.
Applicant Income
Altura lent most frequently to those with incomes in the $100k-150k range, with 97 originations. The second most popular income band? $50k-75k, with 84 originations.
Applicant Debt to Income Ratio
Altura lent most frequently to those with DTI ratios of 30-36%, with 76 originations. The next most common DTI ratio? 20-30%, with 63 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.80%
Altura has a below average approval rate.
Pick Rate
Approvals leading to origination81.31%
Altura has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 396 | $106,730,000 | $269,520 |