Alameda Mortgage Corporation is a California-based lender that offers residential mortgages. They’ve been around for a while and provide a mix of conventional and government-backed loans. Their focus is on the California market and with rates generally higher than the median, buyers should exercise caution when exploring loan options.
See today’s mortgage interest rates on TrueRate.
How Alameda Mortgage Corp compares to other lenders
| Headquarters | Walnut Creek, California |
| Website | alamedamortgage.com |
| Rate | 0.20% higher than the median rate |
| Lender fees | $1,990 (median on Alameda Mortgage Corp loans) |
| Added cost after 1 year, compared to the median interest rate | $256 |
| Added cost after 10 years, compared to the median interest rate | $5,010 |
| Added cost after 1 year (vs. Tomo Mortgage) | $2,834 |
| Added cost 10 years (vs. Tomo Mortgage) | $17,094 |
For a $400,000 mortgage, Alameda Mortgage Corp’s rates—about 0.20% higher than the market median—and $1,990 in lender fees would result in an added cost of $256 approximately in the first year and about $5,010 over 10 years compared to the median lender.
What customers are saying
Reviews of Alameda Mortgage Corporation highlight a generally positive borrower experience, particularly when it comes to the responsiveness and professionalism of individual loan officers. Customers frequently praised team members for providing clear communication, proactive support, and personalized guidance throughout the mortgage process. Many noted that even complex transactions, such as refinancing under tight deadlines, were handled smoothly and efficiently.
However, not all feedback was positive. Some reviewers reported delays in loan processing, last-minute requests for documentation, and inconsistent communication after closing. A few also expressed frustration with what they felt were misleading assurances regarding loan approvals.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.