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
  • 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 Refi and Cash Out Refi loans. Altura has a high proportion of conventional loans. Their top markets by origination volume include: Riverside, Los Angeles, San Diego, and Bakersfield among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Altura has an above 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.

    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% 4/22/24
    30 Year Conventional Refi 6.26% 4/22/24
    30 Year Cash-out Refi 6.30% 4/22/24
    15 Year Conventional Purchase 5.50% 4/22/24
    15 Year Conventional Refi 5.87% 4/22/24
    15 Year Cash-out Refi 5.87% 4/22/24
    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

    692

    Origination Dollar Volume (All Markets)

    $200,010,000

    Awards

    ALTURA 30 Year Conventional Loans silver
    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) 657 $166,645,000 $253,645 $2,910 3.23%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 28 $25,850,000 $923,214 $2,656 3.25%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 6 $7,310,000 $1,218,333 $2,995 3.09%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $205,000 $205,000 $3,523 3.00%
    Altura's top markets include Riverside, Los Angeles, San Diego, and Bakersfield 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.

    Chaffey Federal Credit Union
    Similarity Rank: 345
    MANHATTAN FINANCIAL GROUP, INC.
    Similarity Rank: 384
    MYPOINT Credit Union
    Similarity Rank: 560
    ALTURA
    Similarity Rank: 628
    Christian Community Credit Union
    Similarity Rank: 716
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 1053
    FFC Mortgage Corp.
    Similarity Rank: 1428
    LA Financial Federal Credit Union
    Similarity Rank: 1677
    LONG BEACH FIREMEN S CREDIT UNION
    Similarity Rank: 1848
    SOUTHLAND CREDIT UNION
    Similarity Rank: 1974

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 692 $200,010,000 $289,032 $2,907 3.23%

    For 2020, Altura's most frequently originated type of loan was Conventional, with 692 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 303 $85,005,000 $280,545 $2,856 2.90%
    Cash Out Refi 246 $75,880,000 $308,455 $3,256 3.17%
    Home Purchase 58 $33,830,000 $583,276 $4,570 3.16%
    Other 54 $3,400,000 $62,963 $1,156 4.80%
    Home Improvement 31 $1,895,000 $61,129 $1,124 4.36%

    For 2020, Altura's most frequently cited loan purpose was Refi, with 303 originations. The 2nd most popular reason was Cash Out Refi, with 246 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 421 $118,825,000 $282,245 $3,277 3.14%
    20 Year 131 $16,655,000 $127,137 $1,770 3.95%
    15 Year 97 $20,905,000 $215,515 $2,869 2.62%
    Other 33 $38,995,000 $1,181,667 $2,449 3.43%
    10 Year 9 $1,545,000 $171,667 $3,046 2.69%
    5 Year 1 $3,085,000 $3,085,000 $0 3.35%

    For 2020, Altura's most frequently cited loan duration was 30 Year, with 421 originations. The 2nd most popular length was 20 Year, with 131 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 449 $106,335,000 $236,826
    $1k-2k 139 $31,485,000 $226,511
    $2k-3k 45 $12,265,000 $272,556
    $3k-4k 18 $5,020,000 $278,889
    $5k+ 9 $3,225,000 $358,333
    $4k-5k 7 $1,955,000 $279,286

    Altura's average total fees were $3,277, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 449 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 288 $75,080,000 $260,694
    3-4% 261 $99,905,000 $382,778
    <2.5% 77 $18,175,000 $236,039
    5-6% 31 $1,595,000 $51,452
    4-5% 22 $4,730,000 $215,000
    6-7% 11 $365,000 $33,182
    % 2 $160,000 $80,000

    During 2020, Altura's average interest rate for loans was 3.14%, while their most frequently originated rate bucket for loans was 2.5-3%, with 288 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 367 $105,845,000 $288,406 $3,234 3.05%
    $100k-200k 158 $24,680,000 $156,203 $2,675 3.00%
    $100,000 or less 88 $4,730,000 $53,750 $1,535 4.40%
    $400k-600k 54 $24,570,000 $455,000 $3,532 3.07%
    $1MM+ 18 $35,130,000 $1,951,667 $0 3.44%
    $600k-1MM 7 $5,055,000 $722,143 $4,460 3.60%

    2020 saw Altura place emphasis on $200k-400k loans with 367 originations, totaling $105,845,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 174 $45,690,000 $262,586 $3,112 3.16%
    $50k-75k 133 $26,185,000 $196,880 $2,816 3.26%
    $75k-100k 127 $30,725,000 $241,929 $3,109 3.21%
    $150k-250k 91 $25,305,000 $278,077 $2,707 3.44%
    $50k or less 71 $13,325,000 $187,676 $2,650 3.16%
    $250k+ 23 $5,425,000 $235,870 $2,913 3.74%

    Altura lent most frequently to those with incomes in the $100k-150k range, with 174 originations. The second most popular income band? $50k-75k, with 133 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 187 $44,535,000 $238,155 $2,833 3.19%
    30-36% 118 $30,550,000 $258,898 $3,032 3.27%
    <20% 67 $12,465,000 $186,045 $2,644 3.19%
    36% 29 $7,165,000 $247,069 $2,905 3.09%
    37% 27 $6,025,000 $223,148 $3,031 3.05%
    42% 22 $4,400,000 $200,000 $2,738 3.39%
    39% 20 $5,290,000 $264,500 $3,077 3.37%
    44% 19 $5,395,000 $283,947 $3,432 3.24%
    40% 18 $5,860,000 $325,556 $3,539 3.30%
    41% 18 $3,850,000 $213,889 $2,791 3.45%
    38% 18 $3,290,000 $182,778 $2,777 3.69%
    43% 18 $4,620,000 $256,667 $3,079 3.10%
    45% 12 $2,740,000 $228,333 $3,270 3.10%
    47% 12 $3,480,000 $290,000 $3,125 3.60%
    48% 11 $2,725,000 $247,727 $2,877 2.99%
    49% 9 $2,255,000 $250,556 $2,931 3.42%
    50-60% 7 $1,415,000 $202,143 $2,522 4.26%
    46% 5 $1,095,000 $219,000 $2,808 3.20%
    >60% 2 $320,000 $160,000 $2,030 3.30%

    Altura lent most frequently to those with DTI ratios of 20-30%, with 187 originations. The next most common DTI ratio? 30-36%, with 118 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 373 $94,025,000 $252,078 $2,940 3.21%
    Not provided 229 $64,745,000 $282,729 $2,797 3.28%
    Not applicable 14 $20,620,000 $1,472,857 $0 3.49%
    Black 32 $8,380,000 $261,875 $3,175 2.92%
    Asian 15 $5,005,000 $333,667 $3,120 3.08%
    American Indian 10 $2,750,000 $275,000 $3,248 3.04%
    Other Asian 7 $1,815,000 $259,286 $2,891 2.88%
    Filipino 4 $1,450,000 $362,500 $3,816 3.09%
    Asian Indian 1 $515,000 $515,000 $4,402 2.38%
    Native Hawaiian or Islander 2 $440,000 $220,000 $3,207 3.25%
    Other Pacific Islander 3 $195,000 $65,000 $1,169 5.43%
    Korean 1 $55,000 $55,000 $1,013 3.13%
    Japanese 1 $15,000 $15,000 $1,301 6.58%

    Approval Rates

    Total approvals of all applications
    92.92%

    Altura has an average approval rate.

    Pick Rate

    Approvals leading to origination
    65.61%

    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 692 $200,010,000 $289,032

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 25 $39,725,000 $1,589,000
    Single Family (1-4 Units):Site-Built 667 $160,285,000 $240,307

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 74 $13,610,000 $183,919 $2,506 3.08%
    40-60% 145 $41,605,000 $286,931 $2,768 3.00%
    60-80% 289 $98,465,000 $340,709 $3,246 3.11%
    80-100% 75 $25,105,000 $334,733 $3,889 3.08%
    Over 100% 1 $2,725,000 $2,725,000 $0 3.50%
    Under 20% 80 $11,450,000 $143,125 $1,354 4.52%