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 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.
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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. | ||
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
820Origination Dollar Volume (All Markets)
$190,490,000Top 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) | 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% |
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
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
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
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
Approval Rates
Total approvals of all applications95.66%
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 origination47.20%
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 |