Altura Mortgage Rates, Fees & Info

Riverside, CA

LEI: 549300TG5MQ8D4SYP955

Tax ID: 95-2023588

5 stars - out of 5 stars, based on 27 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Altura is a smaller mortgage company specializing in Refi and Cash Out Refi loans. Altura has a high proportion of conventional loans. Their top markets include Riverside, Los Angeles, San Diego, Santa Cruz, and Stockton among others. Altura has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Altura is typically a low fee lendor.


Originations

753

Origination Dollar Volume (All Markets)

$198,955,000

Awards

ALTURA 30 Year Conventional Loans gold ALTURA 30 Year Conventional Loans silver ALTURA 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Altura's average 30 year fixed rate mortgage of loans were 2.91%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.24%.

Relative Fees

Altura's average total fees for a 30 year fixed rate mortgage are $3,144.

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
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 706 $175,980,000 $249,263 $2,749 3.01%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 23 $10,795,000 $469,348 $4,732 3.10%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 11 $8,905,000 $809,545 $3,738 3.11%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $595,000 $595,000 $3,571 3.38%
STOCKTON, CA (FHA|USDA|VA) 2 $530,000 $265,000 $2,112 3.82%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $325,000 $325,000 $3,970 2.88%
MADERA, CA (FHA|USDA|VA) 1 $315,000 $315,000 $2,994 2.75%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $305,000 $305,000 $2,385 2.38%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $295,000 $295,000 $2,871 3.12%
BOISE CITY, ID (FHA|USDA|VA) 1 $255,000 $255,000 $2,740 2.87%
EL CENTRO, CA (FHA|USDA|VA) 2 $240,000 $120,000 $1,901 3.08%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $210,000 $105,000 $2,129 3.50%
FRESNO, CA (FHA|USDA|VA) 1 $205,000 $205,000 $2,677 2.88%

Altura's top markets include Riverside, Los Angeles, San Diego, Santa Cruz, and Stockton among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 753 $198,955,000 $264,216 $2,801 3.01%

For the 2021 period, Altura's most frequently originated loan type of loans were Conventional, with 753 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 367 $96,715,000 $263,529 $2,765 2.65%
Cash Out Refi 257 $82,545,000 $321,187 $3,134 2.96%
Home Improvement 54 $4,010,000 $74,259 $1,263 4.65%
Other 47 $3,825,000 $81,383 $1,269 4.26%
Home Purchase 28 $11,860,000 $423,571 $5,812 2.99%

For the 2021, Altura's most frequently cited loan purpose of loans were Refi, with 367 originations. The 2nd most popular reason of loans were Cash Out Refi, with 257 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 469 $141,775,000 $302,292 $3,144 2.91%
20 Year 147 $18,825,000 $128,061 $1,692 3.92%
15 Year 107 $23,225,000 $217,056 $2,821 2.29%
10 Year 21 $10,865,000 $517,381 $2,832 2.69%
Other 9 $4,265,000 $473,889 $2,476 3.18%

For the 2021, Altura's most frequently cited loan length of loans were 30 Year, with 469 originations. The 2nd most popular length of loans were 20 Year, with 147 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 344 $83,680,000 $243,256
$1k-2k 292 $79,000,000 $270,548
$2k-3k 25 $7,045,000 $281,800
$3k-4k 24 $7,480,000 $311,667
$5k+ 13 $6,315,000 $485,769

$3,144 of loans were Altura's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 344 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 318 $86,010,000 $270,472
<2.5% 205 $49,465,000 $241,293
3-4% 151 $55,825,000 $369,702
4-5% 48 $5,540,000 $115,417
5-6% 31 $2,115,000 $68,226

During 2021, Altura's average interest rate of loans were 2.91%, while their most frequently originated rate bucket of loans were 2.5-3%, with 318 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 386 $110,660,000 $286,684 $3,022 2.82%
$100k-200k 179 $26,995,000 $150,810 $2,415 2.84%
$400k-600k 90 $42,310,000 $470,111 $3,570 2.98%
$100,000 or less 86 $5,080,000 $59,070 $1,418 4.26%
$600k-1MM 7 $4,625,000 $660,714 $7,597 3.28%
$1MM+ 5 $9,285,000 $1,857,000 $27,244 3.30%

2021 saw Altura place emphasis on $200k-400k loans with 386 originations, totaling $110,660,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 197 $52,555,000 $266,777 $2,857 3.15%
$75k-100k 131 $31,905,000 $243,550 $2,823 2.97%
$50k-75k 122 $26,590,000 $217,951 $2,782 2.88%
$150k-250k 86 $24,950,000 $290,116 $2,533 3.37%
$50k or less 55 $10,355,000 $188,273 $2,867 2.93%
$250k+ 22 $5,690,000 $258,636 $3,218 3.84%

Altura lent most frequently to those with incomes in the $100k-150k range, with 197 originations. The second most popular income band? $75k-100k, with 131 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 152 $36,310,000 $238,882 $2,615 2.96%
30-36% 127 $33,525,000 $263,976 $2,812 3.10%
<20% 73 $17,125,000 $234,589 $2,783 2.77%
42% 33 $7,115,000 $215,606 $2,254 3.32%
39% 32 $7,470,000 $233,438 $2,683 3.17%
40% 26 $5,820,000 $223,846 $2,582 3.35%
41% 25 $6,655,000 $266,200 $2,829 3.31%
44% 23 $6,455,000 $280,652 $3,551 2.85%
37% 21 $4,885,000 $232,619 $3,280 3.46%
36% 21 $4,375,000 $208,333 $2,956 3.57%
38% 19 $5,375,000 $282,895 $2,990 3.14%
43% 15 $4,465,000 $297,667 $3,354 2.95%
49% 12 $3,620,000 $301,667 $2,951 2.78%
45% 12 $3,510,000 $292,500 $3,198 3.00%
46% 12 $3,760,000 $313,333 $3,600 3.17%
47% 7 $1,775,000 $253,571 $3,341 3.20%
48% 7 $1,385,000 $197,857 $2,650 2.85%
50-60% 2 $200,000 $100,000 $1,307 5.39%

Altura lent most frequently to those with DTI ratios of 20-30%, with 152 originations. The next most common DTI ratio? 30-36%, with 127 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 364 $90,820,000 $249,505 $2,942 2.97%
Not provided 307 $83,495,000 $271,971 $2,606 3.08%
Asian 25 $7,955,000 $318,200 $2,897 2.74%
Black 27 $7,245,000 $268,333 $3,237 3.12%
Not applicable 9 $5,205,000 $578,333 $3,098 3.32%
American Indian 9 $2,495,000 $277,222 $3,378 2.74%
Filipino 10 $1,420,000 $142,000 $1,565 3.31%
Other Asian 2 $320,000 $160,000 $2,427 2.25%

Approval Rates

Total approvals of all applications
88.49%

Altura has an average approval rate.

Pick Rate

Approvals leading to origination
74.88%

Altura has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 753 $198,955,000 $264,216

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
753 $198,955,000 $264,216

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 96 $16,340,000 $170,208 $2,432 2.81%
40-60% 173 $45,275,000 $261,705 $2,860 2.76%
60-80% 238 $82,530,000 $346,765 $3,170 2.95%
80-100% 42 $16,770,000 $399,286 $4,141 2.97%
Under 20% 84 $5,500,000 $65,476 $1,365 4.56%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Aldridge Pite, LLP Conventional home mortgage Closing on a mortgage 1 14.3%
Aldridge Pite, LLP Conventional home mortgage Struggling to pay mortgage 2 28.6%
Aldridge Pite, LLP Conventional home mortgage Trouble during payment process 1 14.3%
Aldridge Pite, LLP FHA mortgage Struggling to pay mortgage 2 28.6%
Aldridge Pite, LLP Other type of mortgage Trouble during payment process 1 14.3%