Constructive Loans Mortgage Rates, Fees & Info
DOVER, DELEI: 549300YMIOLU51FSTO86
Tax ID: 32-0544462
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Mortgage Data
Review & Overview
Constructive Loans is a smaller mortgage company specializing in Cash Out Refi loans. Constructive Loans has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Detroit, Chicago, Buffalo, and Jacksonville among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)Constructive Loans 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. 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 | 6.27% | 6/4/23 |
| 30 Year Conventional Refi | 6.27% | 6/4/23 |
| 30 Year Cash-out Refi | 6.27% | 6/4/23 |
| 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. | ||
Constructive Loans Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
49Origination Dollar Volume (All Markets)
$12,785,000Relative Rate
Constructive Loans's average 30 year fixed mortgage rate was
5.12%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.36%.
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 |
|---|---|---|---|---|---|
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $5,025,000 | $1,675,000 | $0 | 3.49% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 14 | $1,240,000 | $88,571 | $0 | 4.50% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 5 | $995,000 | $199,000 | $0 | 5.80% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 6 | $910,000 | $151,667 | $0 | 5.31% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $0 | 7.75% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $0 | 5.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $0 | 4.63% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $0 | 4.08% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 5.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 3 | $295,000 | $98,333 | $0 | 5.63% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 5.13% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 7.75% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 6.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 4.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 4.88% |
| SYRACUSE, NY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 6.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.50% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 8.50% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 5.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 8.49% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 49 | $12,785,000 | $260,918 | $0 | 5.12% |
For 2022, Constructive Loans's most frequently originated type of loan was Conventional, with 49 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 33 | $9,755,000 | $295,606 | $0 | 5.07% |
| Home Purchase | 12 | $2,290,000 | $190,833 | $0 | 5.33% |
| Refi | 4 | $740,000 | $185,000 | $0 | 4.84% |
For 2022, Constructive Loans's most frequently cited loan purpose was Cash Out Refi, with 33 originations. The 2nd most popular reason was Home Purchase, with 12 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 49 | $12,785,000 | $260,918 | $0 | 5.12% |
For 2022, Constructive Loans's most frequently cited loan duration was 30 Year, with 49 originations.
Interest Rates
During 2022, Constructive Loans's average interest rate for loans was 5.12%, while their most frequently originated rate bucket for loans was 4-5%, with 28 originations.
Loan Sizing
2022 saw Constructive Loans place emphasis on $100k-200k loans with 18 originations, totaling $2,610,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 1 | $115,000 | $115,000 | $0 | 4.00% |
Constructive Loans lent most frequently to those with incomes in the $50k or less range, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.48%
Constructive Loans has an average approval rate.
Pick Rate
Approvals leading to origination-30.61%
Constructive Loans has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 49 | $12,785,000 | $260,918 |