Constructive Loans Mortgage Rates, Fees & Info
DOVER, DELEI: 549300YMIOLU51FSTO86
Tax ID: 32-0544462
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Mortgage 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
820Origination Dollar Volume (All Markets)
$190,490,000Relative 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 applications89.06%
Constructive Loans has an average approval rate.
Pick Rate
Approvals leading to origination30.36%
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% |
