Alterra Home Loans Mortgage Review


Top perks 

Caters to underserved borrowers

“Underserved” means any group that is at a disadvantage because they have less access to financial products. Alterra Home Loans makes a special effort to serve borrowers who have fewer options. That includes those with lower income, limited financial resources, or no SSN. It could also include borrowers using alternative documents to qualify and people pooling resources to buy a home. In other words, Alterra Home Loans is a good fit for creditworthy borrowers who typically have to jump through more hoops to get a mortgage and might not know they can qualify.  


Alterra Home Loans is Hispanic-owned and places a lot of emphasis on serving the Hispanic community. Spanish-speaking loan officers are available to work with any applicant.

ITIN loans for foreign nationals

Many lenders require a SSN to get a mortgage. Alterra Home Loans is one of a small group of lenders that offers mortgages to people who have an individual taxpayer identification number (ITIN) but no SSN. Since you don’t have to be eligible to work in the U.S. to get an ITIN, undocumented immigrants are eligible to apply for a 30-year fixed-rate mortgage. 

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Specialty loans

Alterra Home Loans offers USDA loans and mortgages for non-warrantable condos, which not all lenders do. Alterra Home Loans also offers portfolio loans for borrowers who need more flexible underwriting. 


Alterra Home Loans’s customers leave very good online reviews, in English and Spanish. Reviewers tend to comment on their positive interactions with Alterra Home Loans staff and say costs are lower than expected.

Pronto Plus loan tracking app

Alterra Home Loans offers a digital mortgage application and tracking experience on Pronto Plus, its proprietary app. You can track your application, upload documents, share your financial information, and e-sign documents from any device.

What could be improved 


Alterra Home Loans is not yet licensed to make mortgage loans in every state.

Website prequalification tool

Alterra Home Loans has a prequalification web page, but it’s actually a form to capture your information. You’ll enter your email address and phone number along with a few details about the loan you’re researching, and a loan officer will contact you at a later time. 


Alterra Home Loans does not publish information about mortgage rates and fees. 

Home equity products

If you’re considering a cash-out refinance and you want to compare HELOC and home equity loan options, you’ll need to find those products elsewhere.

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