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 and Cash Out Refi 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 Bakersfield among others. We have data for 10 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.88% | 4/5/25 |
| 30 Year Conventional Refi | 6.54% | 4/5/25 |
| 30 Year Cash-out Refi | 6.63% | 4/5/25 |
| 30 Year FHA Purchase | 7.76% | 4/5/25 |
| 15 Year Conventional Purchase | 5.85% | 4/5/25 |
| 15 Year Conventional Refi | 5.63% | 4/5/25 |
| 15 Year Cash-out Refi | 5.63% | 4/5/25 |
| 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
234Origination Dollar Volume (All Markets)
$78,620,000Awards
ALTURA - 2024
ALTURA is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Altura's average 30 year fixed mortgage rate was
6.44%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.11%.
Relative Fees (Closing Costs)
Altura's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,553.
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 $8,356.
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) | 194 | $46,720,000 | $240,825 | $4,639 | 7.70% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 20 | $17,540,000 | $877,000 | $7,230 | 6.33% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 11 | $9,955,000 | $905,000 | $6,061 | 6.55% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $2,100,000 | $1,050,000 | $8,941 | 6.06% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $4,063 | 6.38% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $4,779 | 6.99% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $5,274 | 6.99% |
| TWIN FALLS, ID (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $6,890 | 7.63% |
| CHICO, CA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,332 | 6.75% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,931 | 6.63% |
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: 42
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Similarity Rank: 535
Similarity Rank: 546
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 231 | $77,675,000 | $336,255 | $4,982 | 7.50% |
| FHA | 3 | $945,000 | $315,000 | $10,450 | 6.58% |
For 2024, Altura's most frequently originated type of loan was Conventional, with 231 originations. Their 2nd most popular type was FHA, with 3 originations.
Loan Reason
For 2024, Altura's most frequently cited loan purpose was Other, with 74 originations. The 2nd most popular reason was Home Purchase, with 70 originations.
Loan Duration/Length
For 2024, Altura's most frequently cited loan duration was 30 Year, with 116 originations. The 2nd most popular length was 20 Year, with 100 originations.
Origination Fees/Closing Costs
Altura's average total fees were $5,553, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 91 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 101 | $54,885,000 | $543,416 |
| Over 8% | 89 | $7,125,000 | $80,056 |
| 5-6% | 33 | $13,865,000 | $420,152 |
| 7-8% | 9 | $2,185,000 | $242,778 |
| 4-5% | 2 | $560,000 | $280,000 |
During 2024, Altura's average interest rate for loans was 6.44%, while their most frequently originated rate bucket for loans was 6-7%, with 101 originations.
Loan Sizing
2024 saw Altura place emphasis on $100,000 or less loans with 72 originations, totaling $4,330,000 in origination value.
Applicant Income
Altura lent most frequently to those with incomes in the $150k-250k range, with 64 originations. The second most popular income band? $100k-150k, with 58 originations.
Applicant Debt to Income Ratio
Altura lent most frequently to those with DTI ratios of 30-36%, with 33 originations. The next most common DTI ratio? 20-30%, with 30 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications71.10%
Altura has a below average approval rate.
Pick Rate
Approvals leading to origination67.95%
Altura 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 | 234 | $78,620,000 | $335,983 |