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 Home Purchase loans. Altura 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.) Their top markets by origination volume include: Riverside, Los Angeles, San Diego, San Francisco, and San Luis Obispo among others. We have data for 16 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.05% | 12/16/24 |
| 30 Year Conventional Refi | 6.26% | 12/16/24 |
| 30 Year Cash-out Refi | 6.30% | 12/16/24 |
| 15 Year Conventional Purchase | 5.50% | 12/16/24 |
| 15 Year Conventional Refi | 5.87% | 12/16/24 |
| 15 Year Cash-out Refi | 5.87% | 12/16/24 |
| 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. | ||
Altura Mortgage Calculator
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This is not an official calculator from Altura. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
359Origination Dollar Volume (All Markets)
$159,995,000Awards
ALTURA - 2023
ALTURA is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Altura's average 30 year fixed mortgage rate was
4.95%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -1.53%.
Relative Fees (Closing Costs)
Altura's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,476.
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 $9,089.
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) | 231 | $58,205,000 | $251,970 | $4,123 | 7.11% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 61 | $50,175,000 | $822,541 | $6,204 | 5.17% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 53 | $43,545,000 | $821,604 | $5,367 | 4.75% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $1,960,000 | $980,000 | $6,033 | 6.50% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $1,435,000 | $1,435,000 | $3,447 | 4.50% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $815,000 | $815,000 | $12,709 | 4.25% |
| Outside of Metro Areas | 1 | $725,000 | $725,000 | $4,679 | 4.25% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $6,352 | 4.50% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $4,391 | 4.50% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $5,094 | 6.63% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,237 | 4.50% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,673 | 6.13% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,388 | 7.50% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,202 | 7.63% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,651 | 3.75% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,721 | 5.75% |
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: 72
Similarity Rank: 93
Similarity Rank: 258
Similarity Rank: 261
Similarity Rank: 312
Similarity Rank: 342
Similarity Rank: 351
Similarity Rank: 477
Similarity Rank: 660
Similarity Rank: 680
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 357 | $158,935,000 | $445,196 | $4,737 | 6.37% |
| FHA | 2 | $1,060,000 | $530,000 | $17,899 | 6.88% |
For 2023, Altura's most frequently originated type of loan was Conventional, with 357 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
For 2023, Altura's most frequently cited loan purpose was Home Purchase, with 159 originations. The 2nd most popular reason was Other, with 68 originations.
Loan Duration/Length
For 2023, Altura's most frequently cited loan duration was 30 Year, with 222 originations. The 2nd most popular length was 20 Year, with 122 originations.
Origination Fees/Closing Costs
Altura's average total fees were $5,476, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 204 originations.
Interest Rates
During 2023, Altura's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 4-5%, with 153 originations.
Loan Sizing
2023 saw Altura place emphasis on $600k-1MM loans with 93 originations, totaling $70,125,000 in origination value.
Applicant Income
Altura lent most frequently to those with incomes in the $150k-250k range, with 122 originations. The second most popular income band? $100k-150k, with 85 originations.
Applicant Debt to Income Ratio
Altura lent most frequently to those with DTI ratios of 30-36%, with 57 originations. The next most common DTI ratio? 20-30%, with 48 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications77.76%
Altura has a below average approval rate.
Pick Rate
Approvals leading to origination76.60%
Altura has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 359 | $159,995,000 | $445,669 |