Constructive Loans Mortgage Rates, Fees & Info

DOVER, DE

LEI: 549300YMIOLU51FSTO86

Tax ID: 32-0544462

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Constructive Loans is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Constructive Loans has a high proportion of conventional loans. Their top markets include Chicago, New York, Miami, Philadelphia, and Washington among others. Constructive Loans has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

820

Origination Dollar Volume (All Markets)

$190,490,000

Relative Rate

Constructive Loans 's average 30 year fixed rate mortgage of loans were 5.38%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 2.23%.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 267 $51,165,000 $191,629 $0 7.04%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 73 $44,305,000 $606,918 $0 5.41%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 19 $11,645,000 $612,895 $0 6.47%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 63 $10,425,000 $165,476 $0 5.73%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 20 $4,380,000 $219,000 $0 5.02%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 15 $4,225,000 $281,667 $0 4.66%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 18 $3,200,000 $177,778 $0 5.42%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $3,155,000 $1,051,667 $0 6.67%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 20 $3,120,000 $156,000 $0 5.49%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 16 $3,080,000 $192,500 $0 6.20%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 9 $3,035,000 $337,222 $0 7.07%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 16 $2,730,000 $170,625 $0 5.27%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 27 $2,575,000 $95,370 $0 5.99%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 19 $2,305,000 $121,316 $0 5.70%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 14 $2,250,000 $160,714 $0 5.16%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 14 $2,210,000 $157,857 $0 4.59%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 14 $2,040,000 $145,714 $0 6.28%
Outside of Metro Areas 4 $1,730,000 $432,500 $0 5.13%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 5 $1,665,000 $333,000 $0 6.20%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $1,615,000 $538,333 $0 6.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 5 $1,255,000 $251,000 $0 6.02%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 7 $1,235,000 $176,429 $0 5.38%
PORT ST. LUCIE, FL (FHA|USDA|VA) 10 $1,150,000 $115,000 $0 5.70%
ST. LOUIS, MO-IL (FHA|USDA|VA) 7 $1,095,000 $156,429 $0 7.43%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $1,060,000 $265,000 $0 6.16%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 6 $950,000 $158,333 $0 6.10%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 10 $930,000 $93,000 $0 6.03%
Greeneville, TN (FHA|USDA|VA) 3 $885,000 $295,000 $0 6.46%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $885,000 $295,000 $0 6.71%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $870,000 $435,000 $0 5.00%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $850,000 $425,000 $0 5.13%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $845,000 $281,667 $0 5.83%
JACKSONVILLE, FL (FHA|USDA|VA) 7 $805,000 $115,000 $0 5.46%
PITTSBURGH, PA (FHA|USDA|VA) 9 $795,000 $88,333 $0 6.07%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 1 $785,000 $785,000 $0 6.50%
BOULDER, CO (FHA|USDA|VA) 1 $765,000 $765,000 $0 4.50%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 5 $725,000 $145,000 $0 5.55%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $710,000 $355,000 $0 5.06%
WHEELING, WV-OH (FHA|USDA|VA) 4 $640,000 $160,000 $0 6.63%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 5 $605,000 $121,000 $0 6.78%
ASHEVILLE, NC (FHA|USDA|VA) 1 $545,000 $545,000 $0 7.75%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $505,000 $505,000 $0 8.49%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $480,000 $240,000 $0 5.44%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $450,000 $225,000 $0 5.25%
MONTGOMERY, AL (FHA|USDA|VA) 2 $380,000 $190,000 $0 6.68%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 6 $380,000 $63,333 $0 4.63%
ROCHESTER, NY (FHA|USDA|VA) 1 $375,000 $375,000 $0 6.50%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $345,000 $345,000 $0 5.00%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $330,000 $165,000 $0 5.19%
KANSAS CITY, MO-KS (FHA|USDA|VA) 3 $325,000 $108,333 $0 6.42%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $315,000 $315,000 $0 8.49%
PANAMA CITY, FL (FHA|USDA|VA) 1 $295,000 $295,000 $0 5.38%
Pottsville, PA (FHA|USDA|VA) 3 $295,000 $98,333 $0 5.25%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $295,000 $295,000 $0 7.13%
EAST STROUDSBURG, PA (FHA|USDA|VA) 3 $285,000 $95,000 $0 7.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $270,000 $135,000 $0 5.38%
ANCHORAGE, AK (FHA|USDA|VA) 1 $265,000 $265,000 $0 8.49%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $255,000 $255,000 $0 5.88%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 3 $255,000 $85,000 $0 5.83%
GAINESVILLE, GA (FHA|USDA|VA) 1 $235,000 $235,000 $0 8.49%
DAYTON-KETTERING, OH (FHA|USDA|VA) 2 $220,000 $110,000 $0 5.31%
Alice, TX (FHA|USDA|VA) 2 $210,000 $105,000 $0 5.75%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $195,000 $195,000 $0 4.25%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $195,000 $195,000 $0 7.75%
BATON ROUGE, LA (FHA|USDA|VA) 2 $190,000 $95,000 $0 6.44%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 2 $180,000 $90,000 $0 7.62%
COLUMBUS, OH (FHA|USDA|VA) 2 $170,000 $85,000 $0 5.13%
Key West, FL (FHA|USDA|VA) 1 $165,000 $165,000 $0 7.75%
Aberdeen, WA (FHA|USDA|VA) 1 $155,000 $155,000 $0 8.99%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $145,000 $145,000 $0 6.63%
MIDLAND, TX (FHA|USDA|VA) 1 $145,000 $145,000 $0 6.38%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $140,000 $70,000 $0 4.81%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $140,000 $70,000 $0 5.38%
Riverton, WY (FHA|USDA|VA) 1 $135,000 $135,000 $0 8.49%
LANCASTER, PA (FHA|USDA|VA) 1 $135,000 $135,000 $0 5.63%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $130,000 $65,000 $0 4.75%
GREEN BAY, WI (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.13%
ERIE, PA (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.63%
Laconia, NH (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.63%
DOVER, DE (FHA|USDA|VA) 1 $125,000 $125,000 $0 6.38%
BECKLEY, WV (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.88%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.25%
BATTLE CREEK, MI (FHA|USDA|VA) 1 $115,000 $115,000 $0 5.38%
SYRACUSE, NY (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.25%
Palatka, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.99%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $95,000 $95,000 $0 5.00%
FORT SMITH, AR-OK (FHA|USDA|VA) 1 $95,000 $95,000 $0 8.49%
ROCKFORD, IL (FHA|USDA|VA) 1 $95,000 $95,000 $0 5.38%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $95,000 $95,000 $0 4.88%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $95,000 $95,000 $0 6.13%
LAFAYETTE, LA (FHA|USDA|VA) 1 $95,000 $95,000 $0 5.25%
JONESBORO, AR (FHA|USDA|VA) 1 $95,000 $95,000 $0 4.75%
RACINE, WI (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.75%
Atchison, KS (FHA|USDA|VA) 1 $85,000 $85,000 $0 7.75%
UTICA-ROME, NY (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.13%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $75,000 $75,000 $0 9.99%
Seymour, IN (FHA|USDA|VA) 1 $75,000 $75,000 $0 8.99%
MORRISTOWN, TN (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.50%
SAVANNAH, GA (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.88%

Constructive Loans 's top markets include Chicago, New York, Miami, Philadelphia, and Washington among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 820 $190,490,000 $232,305 $0 6.17%

For the 2021 period, Constructive Loans 's most frequently originated loan type of loans were Conventional, with 820 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 470 $101,340,000 $215,617 $0 5.62%
Home Purchase 264 $64,540,000 $244,470 $0 7.37%
Refi 86 $24,610,000 $286,163 $0 5.51%

For the 2021, Constructive Loans 's most frequently cited loan purpose of loans were Cash Out Refi, with 470 originations. The 2nd most popular reason of loans were Home Purchase, with 264 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 608 $135,230,000 $222,418 $0 5.38%
1 Year 209 $53,285,000 $254,952 $0 8.46%
Other 3 $1,975,000 $658,333 $0 7.75%

For the 2021, Constructive Loans 's most frequently cited loan length of loans were 30 Year, with 608 originations. The 2nd most popular length of loans were 1 Year, with 209 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
5-6% 309 $68,425,000 $221,440
4-5% 175 $40,255,000 $230,029
Over 8% 144 $28,170,000 $195,625
6-7% 101 $21,715,000 $215,000
7-8% 69 $27,385,000 $396,884
3-4% 22 $4,540,000 $206,364

During 2021, Constructive Loans 's average interest rate of loans were 5.38%, while their most frequently originated rate bucket of loans were 5-6%, with 309 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 361 $51,585,000 $142,895 $0 6.12%
$200k-400k 188 $50,840,000 $270,426 $0 6.43%
$100,000 or less 177 $14,345,000 $81,045 $0 6.13%
$400k-600k 42 $19,980,000 $475,714 $0 5.83%
$600k-1MM 36 $26,830,000 $745,278 $0 5.90%
$1MM+ 16 $26,910,000 $1,681,875 $0 6.34%

2021 saw Constructive Loans place emphasis on $100k-200k loans with 361 originations, totaling $51,585,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 64 $14,320,000 $223,750 $0 7.65%

Constructive Loans lent most frequently to those with incomes in the $50k or less range, with 64 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 673 $163,965,000 $243,633 $0 6.11%
White 44 $10,170,000 $231,136 $0 6.00%
Not provided 47 $7,455,000 $158,617 $0 6.12%
Black 45 $7,005,000 $155,667 $0 7.24%
Asian 11 $1,895,000 $172,273 $0 6.69%

Approval Rates

Total approvals of all applications
89.06%

Constructive Loans has an average approval rate.

Pick Rate

Approvals leading to origination
30.36%

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 820 $190,490,000 $232,305

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
820 $190,490,000 $232,305

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 3 $385,000 $128,333 $0 6.25%
40-60% 42 $12,950,000 $308,333 $0 5.27%
60-80% 555 $125,035,000 $225,288 $0 5.45%
80-100% 45 $8,945,000 $198,778 $0 7.09%
Over 100% 174 $42,960,000 $246,897 $0 8.47%
Under 20% 1 $215,000 $215,000 $0 6.50%