Altura Mortgage Rates, Fees & Info

Riverside, CA

LEI: 549300TG5MQ8D4SYP955

Tax ID: 95-2023588

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Altura is a smaller mortgage company specializing in Cash Out Refi loans. Altura has a high proportion of conventional loans. Their top markets by origination volume include: Riverside, Los Angeles, Bakersfield, El Centro, and San Diego among others. We have data for 5 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 6.05% 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






    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

    311

    Origination Dollar Volume (All Markets)

    $46,645,000

    Awards

    ALTURA 30 Year Conventional Loans gold
    Show all (1) awards

    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) 297 $41,485,000 $139,680 $1,919 5.66%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 11 $4,215,000 $383,182 $2,561 5.05%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $635,000 $635,000 $0 4.85%
    EL CENTRO, CA (FHA|USDA|VA) 1 $155,000 $155,000 $3,305 4.25%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $155,000 $155,000 $1,444 3.92%
    Altura's top markets include Riverside, Los Angeles, Bakersfield, El Centro, and San Diego among others.

    Their top states include:
  • California (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.

    MYPOINT Credit Union
    Similarity Rank: 55
    FRONTWAVE
    Similarity Rank: 176
    LBS FINANCIAL
    Similarity Rank: 210
    Cabrillo Credit Union
    Similarity Rank: 248
    LA Financial Federal Credit Union
    Similarity Rank: 321
    Water and Power Community Credit Union
    Similarity Rank: 500
    Christian Community Credit Union
    Similarity Rank: 515
    ALTA VISTA CREDIT UNION
    Similarity Rank: 612
    PASADENA SERVICE FEDERAL CREDIT UNION
    Similarity Rank: 612
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 732

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 311 $46,645,000 $149,984 $1,935 5.62%

    For 2018, Altura's most frequently originated type of loan was Conventional, with 311 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 90 $22,740,000 $252,667 $2,766 4.88%
    Home Improvement 81 $4,975,000 $61,420 $1,195 6.06%
    Other 75 $4,005,000 $53,400 $1,117 6.44%
    Refi 36 $5,760,000 $160,000 $2,031 5.27%
    Home Purchase 29 $9,165,000 $316,034 $3,929 5.00%

    For 2018, Altura's most frequently cited loan purpose was Cash Out Refi, with 90 originations. The 2nd most popular reason was Home Improvement, with 81 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 186 $12,240,000 $65,806 $1,229 6.19%
    30 Year 87 $21,255,000 $244,310 $3,183 4.95%
    15 Year 21 $3,455,000 $164,524 $2,927 4.38%
    Other 13 $9,115,000 $701,154 $2,602 4.53%
    10 Year 4 $580,000 $145,000 $2,565 3.97%

    For 2018, Altura's most frequently cited loan duration was 20 Year, with 186 originations. The 2nd most popular length was 30 Year, with 87 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 233 $31,115,000 $133,541
    $1k-2k 6 $1,370,000 $228,333
    $3k-4k 5 $1,335,000 $267,000
    $2k-3k 1 $225,000 $225,000
    $4k-5k 1 $315,000 $315,000
    $5k+ 1 $495,000 $495,000

    Altura's average total fees were $3,183, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 233 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 124 $29,130,000 $234,919
    6-7% 70 $4,040,000 $57,714
    5-6% 56 $9,380,000 $167,500
    7-8% 48 $2,240,000 $46,667
    3-4% 11 $1,745,000 $158,636
    % 2 $110,000 $55,000

    During 2018, Altura's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 4-5%, with 124 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 160 $7,720,000 $48,250 $1,229 6.27%
    $100k-200k 71 $9,985,000 $140,634 $2,221 5.00%
    $200k-400k 58 $15,470,000 $266,724 $3,143 4.94%
    $400k-600k 14 $6,500,000 $464,286 $4,443 4.79%
    $600k-1MM 5 $3,455,000 $691,000 $0 4.58%
    $1MM+ 3 $3,515,000 $1,171,667 $0 4.48%

    2018 saw Altura place emphasis on $100,000 or less loans with 160 originations, totaling $7,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 72 $8,220,000 $114,167 $1,692 6.01%
    $50k-75k 61 $8,145,000 $133,525 $2,245 5.29%
    $75k-100k 60 $7,900,000 $131,667 $2,036 5.75%
    $150k-250k 46 $7,250,000 $157,609 $1,983 5.95%
    $50k or less 42 $3,880,000 $92,381 $1,760 5.05%
    $250k+ 15 $1,705,000 $113,667 $1,619 6.10%

    Altura lent most frequently to those with incomes in the $100k-150k range, with 72 originations. The second most popular income band? $50k-75k, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 64 $5,080,000 $79,375 $1,392 6.00%
    30-36% 34 $3,360,000 $98,824 $1,569 6.47%
    <20% 28 $1,970,000 $70,357 $1,255 5.31%
    42% 16 $1,560,000 $97,500 $1,474 6.17%
    39% 16 $1,290,000 $80,625 $1,405 6.59%
    40% 13 $1,325,000 $101,923 $1,532 6.28%
    37% 10 $1,180,000 $118,000 $1,652 6.02%
    41% 8 $830,000 $103,750 $1,543 6.41%
    36% 6 $360,000 $60,000 $1,209 6.78%
    45% 4 $720,000 $180,000 $3,457 5.09%
    46% 4 $930,000 $232,500 $3,687 4.81%
    38% 3 $255,000 $85,000 $1,563 5.49%
    43% 2 $660,000 $330,000 $2,220 4.58%
    49% 2 $410,000 $205,000 $2,729 5.31%
    44% 2 $530,000 $265,000 $3,384 5.13%
    47% 2 $610,000 $305,000 $3,590 5.38%
    48% 2 $360,000 $180,000 $2,717 5.31%
    >60% 1 $45,000 $45,000 $1,132 6.58%
    50-60% 1 $25,000 $25,000 $1,232 7.29%

    Altura lent most frequently to those with DTI ratios of 20-30%, with 64 originations. The next most common DTI ratio? 30-36%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 193 $26,725,000 $138,472 $2,101 5.50%
    Not provided 80 $11,150,000 $139,375 $1,348 5.87%
    Not applicable 4 $3,170,000 $792,500 $0 4.53%
    Black 18 $3,060,000 $170,000 $2,126 5.93%
    Asian 9 $2,055,000 $228,333 $2,945 5.53%
    American Indian 7 $485,000 $69,286 $1,643 5.97%

    Approval Rates

    Total approvals of all applications
    78.59%

    Altura has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    72.99%

    Altura has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 311 $46,645,000 $149,984

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $8,890,000 $740,833
    Single Family (1-4 Units):Site-Built 299 $37,755,000 $126,271

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 47 $5,175,000 $110,106 $1,719 5.24%
    40-60% 41 $8,695,000 $212,073 $2,458 4.65%
    60-80% 62 $19,980,000 $322,258 $3,193 4.91%
    80-100% 18 $5,540,000 $307,778 $3,652 4.77%
    Under 20% 142 $7,020,000 $49,437 $1,156 6.45%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Aldridge Pite, LLP Conventional home mortgage Struggling to pay mortgage 4 66.7%
    Aldridge Pite, LLP Conventional home mortgage Trouble during payment process 1 16.7%
    Aldridge Pite, LLP Other type of mortgage Struggling to pay mortgage 1 16.7%