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Alterra is a retail home loan provider operating in 15 states, although the majority of their home offices are located in California. Their descriptions of their loan products are pretty bare bones – very simplistically described and very little detail. Alterra offers many kinds of financial products, and their home mortgage options include fixed rates, adjustable rates, jumbo mortgages, FHA loans, VA loans, conventional loans of various kinds, non-conventional loans of various kinds like loans to foreign nationals, jumbo loans and nonwarrantable condos.

Strange Offerings as Mortgage Products

Many of the nonconventional offerings provided by Alterra are designed to attract business owners like builders, contractors and construction companies. Those particular loans are shorter term and have some nicely relaxed requirements that would be attractive to commercial home builders and sellers. Some of the most unusual loans they offer is referred to as I-TIN Loan Products. They are theoretically designed for people without a social security number looking to buy a home to live in the United States. Theses loans require higher down payment among other extra expenses but are 30-year fixed mortgages

The Transparency and Clarity of Alterra’s Website

It is hard to describe this website as transparent since its informative descriptions of the  services they offer are so sparse. There is one page of the site that is in Spanish. The rest of the site is in English, and the descriptions of the programs definitely do not include anything like a thorough list of the flat fees or service charges associated with the process. Most companies provide web tools that allow the borrower to calculate their financial situation in relation to loan requirements and financial obligations. The website is dominated by lots of pictures, especially close ups, of former clients and their staff. Hard information on the site is very hard to come by.