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 Home Purchase, Cash Out Refi, and Refi loans. Constructive Loans has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Miami, New Haven, and Trenton among others. We have data for 65 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 relatively high 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% | 11/17/24 |
| 30 Year Conventional Refi | 6.27% | 11/17/24 |
| 30 Year Cash-out Refi | 6.27% | 11/17/24 |
| 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
587Origination Dollar Volume (All Markets)
$174,545,000Relative Rate
Constructive Loans's average 30 year fixed mortgage rate was
8.24%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 1.76%.
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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 213 | $105,095,000 | $493,404 | $0 | 8.19% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 117 | $19,585,000 | $167,393 | $0 | 8.71% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 11 | $5,395,000 | $490,455 | $0 | 10.20% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 19 | $4,975,000 | $261,842 | $0 | 7.84% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 23 | $3,535,000 | $153,696 | $0 | 8.30% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 9 | $3,455,000 | $383,889 | $0 | 8.58% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 9 | $2,845,000 | $316,111 | $0 | 8.43% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 9 | $1,695,000 | $188,333 | $0 | 8.40% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 5 | $1,585,000 | $317,000 | $0 | 7.53% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 11 | $1,565,000 | $142,273 | $0 | 8.21% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 9 | $1,545,000 | $171,667 | $0 | 8.32% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $1,515,000 | $303,000 | $0 | 10.25% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 11 | $1,495,000 | $135,909 | $0 | 8.65% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 11 | $1,445,000 | $131,364 | $0 | 8.97% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 13 | $1,425,000 | $109,615 | $0 | 8.45% |
| Torrington, CT (FHA|USDA|VA) | 5 | $1,355,000 | $271,000 | $0 | 8.30% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 10 | $1,350,000 | $135,000 | $0 | 8.59% |
| PITTSBURGH, PA (FHA|USDA|VA) | 9 | $1,335,000 | $148,333 | $0 | 9.61% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $1,020,000 | $510,000 | $0 | 12.49% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $0 | 8.56% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 5 | $935,000 | $187,000 | $0 | 7.80% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 4 | $880,000 | $220,000 | $0 | 9.28% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 6 | $790,000 | $131,667 | $0 | 8.08% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $0 | 8.21% |
| SYRACUSE, NY (FHA|USDA|VA) | 4 | $530,000 | $132,500 | $0 | 8.31% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $490,000 | $122,500 | $0 | 8.33% |
| GREELEY, CO (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 8.81% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $0 | 8.63% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $0 | 8.06% |
| Outside of Metro Areas | 2 | $420,000 | $210,000 | $0 | 7.69% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 8.50% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 3 | $255,000 | $85,000 | $0 | 8.31% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 8.88% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 7.69% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 11.99% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 8.61% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 7.86% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 8.38% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 12.49% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 8.69% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 9.38% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 8.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 11.99% |
| READING, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 8.38% |
| LOUISVILLE, KY (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 8.75% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 7.75% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 8.51% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 8.25% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 8.50% |
| TULSA, OK (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 8.13% |
| ELMIRA, NY (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 8.75% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 9.50% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 8.13% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 8.88% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 12.99% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 9.13% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 8.79% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 9.38% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 8.13% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 8.13% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 8.50% |
| FLINT, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 8.25% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 8.69% |
| SUMTER, SC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 9.00% |
| LAWTON, OK (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 9.38% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 587 | $174,545,000 | $297,351 | $0 | 8.49% |
For 2023, Constructive Loans's most frequently originated type of loan was Conventional, with 587 originations.
Loan Reason
For 2023, Constructive Loans's most frequently cited loan purpose was Home Purchase, with 260 originations. The 2nd most popular reason was Cash Out Refi, with 214 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 547 | $159,835,000 | $292,203 | $0 | 8.24% |
| 1 Year | 40 | $14,710,000 | $367,750 | $0 | 11.79% |
For 2023, Constructive Loans's most frequently cited loan duration was 30 Year, with 547 originations. The 2nd most popular length was 1 Year, with 40 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 392 | $110,300,000 | $281,378 |
| 7-8% | 177 | $56,565,000 | $319,576 |
| 6-7% | 18 | $7,680,000 | $426,667 |
During 2023, Constructive Loans's average interest rate for loans was 8.24%, while their most frequently originated rate bucket for loans was Over 8%, with 392 originations.
Loan Sizing
2023 saw Constructive Loans place emphasis on $100k-200k loans with 209 originations, totaling $30,155,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 17 | $2,395,000 | $140,882 | $0 | 8.32% |
Constructive Loans lent most frequently to those with incomes in the $50k or less range, with 17 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.86%
Constructive Loans has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination75.47%
Constructive Loans has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 587 | $174,545,000 | $297,351 |