Constructive Loans Mortgage Rates, Fees & InfoDOVER, DE
Tax ID: 32-0544462
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewConstructive 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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|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
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Constructive Loans. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$12,785,000
Constructive Loans's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.36%.
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%|
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Constructive Loans's most frequently originated type of loan was Conventional, with 49 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||33||$9,755,000||$295,606||$0||5.07%|
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 Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
For 2022, Constructive Loans's most frequently cited loan duration was 30 Year, with 49 originations.
|Loan Rate||Originations||Total Value||Average Loan|
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.
2022 saw Constructive Loans place emphasis on $100k-200k loans with 18 originations, totaling $2,610,000 in origination value.
|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.
|Applicant Ethnicity||Originations||Total Value||Average Loan||Average Fees||Average Rate|
Approval RatesTotal approvals of all applications
Constructive Loans has an average approval rate.
Pick RateApprovals leading to origination
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|