Altura Mortgage Rates, Fees & Info

Riverside, CA

LEI: 549300TG5MQ8D4SYP955

Tax ID: 95-2023588

5 stars - Updated: 5/20/24 - out of 5 stars, based on 19 reviews

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

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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.

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 6.05% 5/20/24
30 Year Conventional Refi 6.26% 5/20/24
30 Year Cash-out Refi 6.30% 5/20/24
15 Year Conventional Purchase 5.50% 5/20/24
15 Year Conventional Refi 5.87% 5/20/24
15 Year Cash-out Refi 5.87% 5/20/24
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






Your Estimates

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

This is not an official calculator from Altura. 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

359

Origination Dollar Volume (All Markets)

$159,995,000
Show all (7) awards

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%
Altura's top markets include Riverside, Los Angeles, San Diego, San Francisco, and San Luis Obispo among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • 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.

    Los Angeles Federal Credit Union
    Similarity Rank: 72
    MISSION
    Similarity Rank: 93
    LBS FINANCIAL
    Similarity Rank: 258
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 312
    SOUTHLAND CREDIT UNION
    Similarity Rank: 342
    FIRST ENTERTAINMENT
    Similarity Rank: 351
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 477
    LA Financial Federal Credit Union
    Similarity Rank: 660
    I.L.W.U. CREDIT UNION
    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 159 $101,395,000 $637,704 $6,259 4.99%
    Other 68 $5,100,000 $75,000 $1,253 9.15%
    Home Improvement 53 $4,535,000 $85,566 $1,042 8.74%
    Cash Out Refi 42 $22,630,000 $538,810 $3,663 5.41%
    Refi 37 $26,335,000 $711,757 $3,430 4.88%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 222 $138,230,000 $622,658 $5,476 4.95%
    20 Year 122 $9,400,000 $77,049 $1,039 9.01%
    Other 6 $7,800,000 $1,300,000 $0 5.90%
    15 Year 5 $935,000 $187,000 $4,174 5.62%
    5 Year 3 $3,565,000 $1,188,333 $0 6.08%
    10 Year 1 $65,000 $65,000 $3,166 7.00%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 204 $124,210,000 $608,873
    $2k-3k 15 $11,035,000 $735,667
    $5k+ 4 $2,280,000 $570,000
    $3k-4k 2 $520,000 $260,000
    $4k-5k 2 $880,000 $440,000
    $<1k 1 $305,000 $305,000

    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

    Loan Rate Originations Total Value Average Loan
    4-5% 153 $107,055,000 $699,706
    Over 8% 110 $8,750,000 $79,545
    6-7% 43 $18,535,000 $431,047
    5-6% 29 $16,625,000 $573,276
    7-8% 12 $2,120,000 $176,667
    3-4% 11 $6,605,000 $600,455
    <2.5% 1 $305,000 $305,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 93 $70,125,000 $754,032 $6,059 4.80%
    $100,000 or less 91 $4,715,000 $51,813 $1,097 8.96%
    $400k-600k 60 $29,780,000 $496,333 $5,419 4.93%
    $100k-200k 51 $6,915,000 $135,588 $3,202 7.70%
    $200k-400k 35 $9,965,000 $284,714 $4,037 5.45%
    $1MM+ 29 $38,495,000 $1,327,414 $6,957 5.01%

    2023 saw Altura place emphasis on $600k-1MM loans with 93 originations, totaling $70,125,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 122 $58,320,000 $478,033 $5,043 6.03%
    $100k-150k 85 $20,725,000 $243,824 $4,332 6.99%
    $250k+ 84 $61,420,000 $731,190 $6,124 5.58%
    $75k-100k 32 $4,320,000 $135,000 $2,794 7.94%
    $50k-75k 20 $3,170,000 $158,500 $3,418 6.68%
    $50k or less 7 $675,000 $96,429 $2,123 6.80%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 57 $20,095,000 $352,544 $4,548 6.87%
    20-30% 48 $8,000,000 $166,667 $3,489 7.59%
    42% 37 $15,255,000 $412,297 $4,460 7.78%
    49% 25 $13,795,000 $551,800 $5,300 4.93%
    40% 22 $8,010,000 $364,091 $4,411 6.24%
    41% 20 $7,620,000 $381,000 $4,866 7.06%
    38% 19 $9,365,000 $492,895 $5,210 6.40%
    43% 15 $7,195,000 $479,667 $4,366 5.44%
    48% 15 $10,625,000 $708,333 $5,236 4.90%
    <20% 14 $7,070,000 $505,000 $5,032 5.40%
    46% 12 $8,190,000 $682,500 $5,737 4.75%
    39% 12 $5,010,000 $417,500 $4,263 6.11%
    45% 12 $7,950,000 $662,500 $4,779 4.75%
    47% 11 $6,595,000 $599,545 $5,186 5.20%
    44% 11 $6,345,000 $576,818 $6,385 5.58%
    37% 11 $3,205,000 $291,364 $3,138 6.83%
    36% 8 $3,680,000 $460,000 $7,103 5.93%
    50-60% 1 $625,000 $625,000 $20,932 7.25%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 179 $61,805,000 $345,279 $4,234 6.95%
    White 107 $46,685,000 $436,308 $5,177 6.22%
    Asian 52 $35,250,000 $677,885 $5,556 4.78%
    Not applicable 8 $10,750,000 $1,343,750 $0 5.93%
    American Indian 5 $3,195,000 $639,000 $5,467 6.27%
    Black 7 $2,245,000 $320,714 $5,579 5.85%
    Asian Indian 1 $65,000 $65,000 $1,020 8.67%

    Approval Rates

    Total approvals of all applications
    77.76%

    Altura has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    76.60%

    Altura has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 359 $159,995,000 $445,669

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    359 $159,995,000 $445,669

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $15,260,000 $346,818 $4,378 6.62%
    40-60% 36 $20,100,000 $558,333 $4,879 5.25%
    60-80% 92 $69,230,000 $752,500 $5,354 4.83%
    80-100% 77 $47,815,000 $620,974 $6,165 4.96%
    Over 100% 1 $605,000 $605,000 $0 8.67%
    Under 20% 108 $6,950,000 $64,352 $1,183 8.91%