Alterra Home Loans
Alterra Home Loans is a division of Venta Financial Services, a full service Residential Mortgage Lender. With offices in several states across the country, Alterra is big enough to compete with national banks, but small enough where every client matters. The Alterra Home Loans Team is committed to providing clients with the highest quality service combined with the lowest mortgage rates available. Whether you are a first time home buyer, purchasing your dream home, refinancing an outstanding loan, or consolidating debt our highly experienced team of mortgage bankers can meet your home lending needs.
I purchased a home in Oct 2015, the experience was smooth and easy. I worked with a loan officer in the Houston area and could not have been happier. I had purchased homes in the past and have never experienced such superior service and felt like I was family. My loan officer followed up with me weekly until the day of closing.
The transaction has been quick and smooth.
Although this was my first experience with the purchase of a home, I have never in my years of dealing with banks, financiers or loan officers been treated in the professional and sincere manner that I was by Mrs. Pamela Stevens. Mrs. Stevens answered all my questions and verbally walked me through the many procedural steps involved with the home buying process. She was quick to answer or return my calls and email. She kept me informed of status updates and was quick to let me know of any delays. She guided me through every step of the process and left me with a sense of security that I was being taken care of. I could not have asked for a better person to assist me with this home purchase and I feel blessed to have had her work with me to provide my family their dream home.
Alterra Home Loans launched in 2007. The company is headquartered in Las Vegas; and from October 2016 to May 2017, it closed more than $1.8 billion in loans, according to the U.S. Small Business Administration.
Alterra Home Loans is 100% minority-owned and focuses on lending to traditionally underserved communities, including Latino and African-American borrowers.
The website provides basic information on the company’s loan products, a tool for locating a local office and a pre-qualification questionnaire designed to collect buyer information so a loan officer can follow up with a phone call or email.
Alterra Home Loans is currently licensed to do business in 33 states and the District of Columbia.
In Alabama, Colorado, D.C., Delaware, Iowa, Kansas, Maryland, Michigan, Mississippi, Nebraska, North Carolina, Ohio, South Carolina, Tennessee, Utah and Wisconsin, the company is licensed to do business but does not have a brick-and-mortar location.
The minimum credit score needed to get a loan with Alterra Home Loans depends on the type of mortgage you want. The lender requires a minimum credit score of 580 for FHA loans. For a home renovation loan, the minimum credit score is 620.
Alterra Home Loans prides itself on doing everything possible to help borrowers get the homes they want. “Where others stop, we keep fighting,” the website says. That could be helpful for borrowers who do not meet standard requirements but are still good candidates for loans.
The lender issues loans for:
There is little information about the Alterra Home Loans mortgage process available on the company’s website, and a company representative was not available to answer questions. Here’s what we know based on the information available.
How to apply. You can start the application process online by clicking the Apply Now button at GoAlterra.com. This brings you to an eight-step questionnaire designed to gather some basic information about you, the type of loan you’re looking for and the kind of property you want to buy. You must provide an email address to complete the form. After completing the pre-qualification form and providing your contact information, you will be contacted by a loan officer who will walk you through the application process and help you select the right loan for your situation.
If you’d rather skip the online application, you can call Alterra at (844) 400-4565 or use the search tool to locate a loan officer near you.
Mobile application. Alterra Home Loans has a mobile app, Pronto. The application allows you to start the application process, securely upload required financial documents, chat with your lender and check the status of your loan application from a mobile device.
Editorial Note: Parts of this article were reviewed by a lender to ensure accuracy prior to publication. The overall conclusions, recommendations and opinions are the author’s alone.
The information in this article is accurate as of the date of publishing.