Constructive Loans Mortgage Rates, Fees & Info

DOVER, DE

LEI: 549300YMIOLU51FSTO86

Tax ID: 32-0544462

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Review & 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 by origination volume include: Chicago, New York, Miami, Philadelphia, and Washington among others. We have data for 99 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.27% 3/28/24
30 Year Conventional Refi 6.27% 3/28/24
30 Year Cash-out Refi 6.27% 3/28/24
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






Your Estimates

Estimated 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.


Originations

820

Origination Dollar Volume (All Markets)

$190,490,000

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
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, KY (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.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Product Mix

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

    For 2021, Constructive Loans's most frequently originated type of loan was Conventional, with 820 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Constructive Loans's most frequently cited loan purpose was Cash Out Refi, with 470 originations. The 2nd most popular reason was 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 2021, Constructive Loans's most frequently cited loan duration was 30 Year, with 608 originations. The 2nd most popular length was 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 for loans was 5.38%, while their most frequently originated rate bucket for loans was 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
    95.66%

    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 origination
    47.20%

    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%