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 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, Santa Cruz, and Stockton among others. We have data for 13 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
753Origination Dollar Volume (All Markets)
$198,955,000Awards
ALTURA - 2021
ALTURA is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 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% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 753 | $198,955,000 | $264,216 | $2,801 | 3.01% |
For 2021, Altura's most frequently originated type of loan was Conventional, with 753 originations.
Loan Reason
For 2021, Altura's most frequently cited loan purpose was Refi, with 367 originations. The 2nd most popular reason was Cash Out Refi, with 257 originations.
Loan Duration/Length
For 2021, Altura's most frequently cited loan duration was 30 Year, with 469 originations. The 2nd most popular length was 20 Year, with 147 originations.
Origination Fees/Closing Costs
Altura's average total fees were $3,144, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.91%, while their most frequently originated rate bucket for loans was 2.5-3%, with 318 originations.
Loan Sizing
2021 saw Altura place emphasis on $200k-400k loans with 386 originations, totaling $110,660,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications91.08%
Altura has an average approval rate.
Pick Rate
Approvals leading to origination84.06%
Altura has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 753 | $198,955,000 | $264,216 |
LTV Distribution
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% |