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, Home Purchase, and Refi loans. Constructive Loans has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, New York, Dallas, Philadelphia, and Houston among others. We have data for 73 markets. (Some data included below & more in-depth data is available with an active subscription.)Constructive Loans has an 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% | 12/16/24 |
| 30 Year Conventional Refi | 6.27% | 12/16/24 |
| 30 Year Cash-out Refi | 6.27% | 12/16/24 |
| 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
557Origination Dollar Volume (All Markets)
$97,115,000Top 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 176 | $26,000,000 | $147,727 | $0 | 7.53% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 47 | $19,865,000 | $422,660 | $0 | 6.70% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 39 | $6,045,000 | $155,000 | $0 | 6.40% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 46 | $5,990,000 | $130,217 | $0 | 6.40% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 40 | $5,720,000 | $143,000 | $0 | 6.36% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 19 | $3,535,000 | $186,053 | $0 | 6.61% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 8 | $3,520,000 | $440,000 | $0 | 5.16% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 19 | $2,945,000 | $155,000 | $0 | 7.38% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 19 | $2,845,000 | $149,737 | $0 | 6.49% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 16 | $2,220,000 | $138,750 | $0 | 7.25% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 10 | $1,340,000 | $134,000 | $0 | 6.61% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 6 | $1,000,000 | $166,667 | $0 | 6.93% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $895,000 | $895,000 | $0 | 5.45% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 7 | $825,000 | $117,857 | $0 | 8.45% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $0 | 6.21% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 6 | $650,000 | $108,333 | $0 | 5.90% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $0 | 7.90% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 5 | $615,000 | $123,000 | $0 | 7.17% |
| PITTSBURGH, PA (FHA|USDA|VA) | 6 | $600,000 | $100,000 | $0 | 6.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $0 | 6.13% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 5 | $525,000 | $105,000 | $0 | 7.66% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $0 | 5.64% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $480,000 | $120,000 | $0 | 6.58% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $0 | 8.46% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 4 | $420,000 | $105,000 | $0 | 6.89% |
| ROCHESTER, NY (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $0 | 6.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 6.06% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 6.80% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 5.38% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 5.75% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 4.70% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $0 | 6.60% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 8.00% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $0 | 8.44% |
| FOND DU LAC, WI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 6.38% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 6.38% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 7.63% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 7.08% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 7.85% |
| DOVER, DE (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 5.75% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 6.75% |
| ERIE, PA (FHA|USDA|VA) | 3 | $185,000 | $61,667 | $0 | 7.63% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 6.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 6.70% |
| TULSA, OK (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 6.85% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 5.75% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 6.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 9.25% |
| LAREDO, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 6.80% |
| Outside of Metro Areas | 1 | $145,000 | $145,000 | $0 | 7.13% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 5.25% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 8.45% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 6.75% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 6.75% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.25% |
| NILES, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 7.00% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.38% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.78% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.65% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 8.49% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 5.95% |
| AKRON, OH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 11.40% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 5.38% |
| COLUMBUS, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 6.50% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 6.25% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 6.78% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.88% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.98% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 9.05% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 5.50% |
| PINE BLUFF, AR (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 7.00% |
| JOPLIN, MO (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 7.60% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 10.10% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 557 | $97,115,000 | $174,354 | $0 | 6.96% |
For 2020, Constructive Loans's most frequently originated type of loan was Conventional, with 557 originations.
Loan Reason
For 2020, Constructive Loans's most frequently cited loan purpose was Cash Out Refi, with 291 originations. The 2nd most popular reason was Home Purchase, with 151 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 441 | $78,115,000 | $177,132 | $0 | 6.34% |
| Other | 91 | $13,325,000 | $146,429 | $0 | 9.36% |
| 1 Year | 25 | $5,675,000 | $227,000 | $0 | 9.19% |
For 2020, Constructive Loans's most frequently cited loan duration was 30 Year, with 441 originations. The 2nd most popular length was Other, with 91 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 265 | $43,745,000 | $165,075 |
| 5-6% | 120 | $25,690,000 | $214,083 |
| Over 8% | 102 | $15,670,000 | $153,627 |
| 7-8% | 55 | $8,735,000 | $158,818 |
| 4-5% | 15 | $3,275,000 | $218,333 |
During 2020, Constructive Loans's average interest rate for loans was 6.34%, while their most frequently originated rate bucket for loans was 6-7%, with 265 originations.
Loan Sizing
2020 saw Constructive Loans place emphasis on $100k-200k loans with 267 originations, totaling $37,935,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 69 | $10,365,000 | $150,217 | $0 | 7.11% |
Constructive Loans lent most frequently to those with incomes in the $50k or less range, with 69 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.54%
Constructive Loans has a below average approval rate.
Pick Rate
Approvals leading to origination5.57%
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 | 557 | $97,115,000 | $174,354 |