Constructive Loans
Constructive Loans, a wholesale business-purpose mortgage lender d/b/a Constructive Capital, provides DSCR rental, fix & flip, and investor line of credit loans to real estate investors exclusively through a broker network, using property-first underwriting. Wholly owned by Adamas Trust, Inc. since 2025.
- Company typePrivate
- Founded2017
- HeadquartersOak Brook, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Constructive Loans does
Constructive Loans, LLC, operating as Constructive Capital, is a wholesale business-purpose mortgage lender headquartered in Oakbrook Terrace, Illinois. The company finances real estate investors exclusively through a network of mortgage brokers and third-party originators, offering four core products: DSCR rental loans (up to 80% LTV, 30-year fixed or interest-only, minimum FICO 660), fix & flip / RTL loans (up to 95% TLTC, 18-month terms, up to $2M per project), investor lines of credit (up to $5M maximum exposure, 12-month terms), and ground-up construction loans (up to 70% LTC, 100% rehab financing). Underwriting is property-first, evaluating loans on Debt Service Coverage Ratio rather than borrower income documentation, which removes the conventional W-2 and tax-return barriers that typically exclude investor borrowers.
The company operates via a dedicated broker portal with named account executives supporting smaller brokers and correspondent lenders. Products are offered under BPL Mortgage, LLC (NMLS ID #2574042) in Arizona, California, Idaho, Minnesota, Oregon, Utah, and Vermont, and under Constructive Loans, LLC in all other states except North Dakota, Nevada, and South Dakota. Revenue is generated through origination activity and interest income on originated loans, with a 30-day rate lock and competitive pricing supported by diversified capital sources. In 2025, Adamas Trust, Inc. acquired the remaining 50% interest in Constructive Loans, making it a wholly-owned subsidiary and consolidating the origination platform within the trust's investment portfolio, which expanded by $3.1 billion during 2025.
Constructive's value proposition centers on funding speed (85% of approved wholesale applications funded within 20 days), price leadership across rate environments, and a full product suite covering the investor lifecycle from acquisition through renovation and rental. The company is led by President Ben Fertig, with a C-suite including CFO Paul Glover, COO Tess Siwa, CCO Megan Castleton, CMO Greg Hohnstein, and CPO Sabrina Burreal, supported by VPs covering wholesale, product, and secondary marketing. Brand-building activities include the Constructive Conversations podcast and executive thought leadership across Scotsman Guide, AAPL Private Lender, The Mortgage Note, and major industry conferences (IMN, AAPL, NAMB National, Geraci Captivate).
Constructive Loans firmographics
Firmographics- Name
- Constructive Loans
- Legal name
- Constructive Loans, LLC
- Website
- https://constructiveloans.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Constructive Loans, a wholesale business-purpose mortgage lender d/b/a Constructive Capital, provides DSCR rental, fix & flip, and investor line of credit loans to real estate investors exclusively through a broker network, using property-first underwriting. Wholly owned by Adamas Trust, Inc. since 2025.
- Ownership category
- akta.pro rank
Constructive Loans industry classification
Industry- Product category
- Business Purpose Mortgage Lending
- NAICS
- Mortgage and Nonmortgage Loan Brokers (52231), Mortgage and Nonmortgage Loan Brokers (522310)
- SIC
- Mortgage Bankers & Loan Correspondents (6162), Asset-Backed Securities (6189)
- akta.pro primary industry
- Wholesale Mortgage Lending (Broker Channel) (FSALACAA)
- akta.pro secondary industries
- Private Credit / Direct Lending (FSAAAHAG), Senior Secured Direct Lending (FSANADAA)
Keywords
Where Constructive Loans is headquartered
LocationHeadquarters
- HQ city
- Oak Brook
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Constructive Loans business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Loan Origination and Securitization: Constructive Capital originates business purpose loans (DSCR rental, fix & flip, lines of credit) for real estate investors through a broker network. The company generates revenue through interest income on the loans it originates and sells. As a subsidiary of Adamas Trust, Inc., loan originations feed into the parent company's investment portfolio and securitization activities.
- Interest Income on Investment Portfolio: As a fully consolidated subsidiary of Adamas Trust following the 2025 acquisition, Constructive Capital's loan origination activities contribute to the parent company's expanded investment portfolio, generating interest income of $601.9 million in 2025.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | DSCR Rental Loan - Up to 80% LTV, 30-year fixed terms |
| Unit Pricing | Pay-as-you-go | Fix & Flip / RTL Loan - Up to 95% TLTC, up to $2M per project |
| Unit Pricing | Pay-as-you-go | Investor Lines of Credit - Up to $5M maximum exposure, 1-4 unit properties |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels7 records
Constructive Loans product offering
Product offeringCore offering
Constructive Capital is a wholesale lender that originates business purpose mortgage loans for real estate investors, including DSCR rental loans, RTL/fix & flip loans (with ground-up construction), and revolving investor lines of credit. Loans are underwritten based on property cash flow (Debt Service Coverage Ratio) rather than borrower income, and products are distributed exclusively through a network of licensed mortgage brokers and third-party originators using a dedicated broker portal.
Product overview
Constructive Capital operates as a wholesale lending platform offering a diversified portfolio of business purpose loan products for real estate investors. The core offerings include DSCR Rental Loans for long-term rental property acquisitions (SFRs, 2-4 units, condos, 5-8 units), RTL/Fix & Flip Loans for short-term renovation projects, and Investor Lines of Credit for investors managing multiple concurrent projects. A complementary Ground-Up Construction product supports new residential builds. All products feature property-focused underwriting rather than borrower income verification, and are distributed exclusively through a broker/wholesale channel.
Differentiator
Problem solved
Functional benefit
Products and services
- DSCR Rental Loans Debt Service Coverage Ratio (DSCR) rental loans for real estate investors purchasing single-family rentals, 2-4 unit properties, condos, and 5-8 unit properties. Underwriting focuses on property cash flow rather than borrower income, with terms up to 30 years fixed or interest-only options, up to 80% LTV for purchase/rate-and-term, up to 75% LTV for cash-out refinance, minimum FICO 660, maximum loan amount $2M, and 30-day rate lock.
- RTL / Fix & Flip Loans Short-term Residential Transition Loans (RTL) for investors purchasing distressed properties, completing renovations, or pursuing multi-unit opportunities. Features up to 95% Total Loan to Cost (TLTC), up to 90% Initial Loan to Cost (ILTC), 18-month terms, loan amounts up to $2M per project, minimum FICO 680, available for SFRs, 2-4 units, and condos, with no appraisal options available.
- Investor Lines of Credit Revolving lines of credit for real estate investors running ongoing or concurrent fix-and-flip and rehab projects. Provides capital access up to $5 million maximum exposure, up to 90% LTC, up to 70% ARV, 1-4 unit properties, terms up to 12 months, and minimum FICO 680, allowing investors to finance, sell, pay down, and reuse the line for successive projects.
- Ground-Up Construction Loans Construction financing for new single-family residential builds and 2-4 unit properties. Features up to 70% LTC with 100% rehab financing available, rapid draw reimbursement, and minimum FICO of 700.
Quantifiable outcome
- 85% of approved wholesale applications funded within 20 days
- +3 more outcomes
Companies that use Constructive Loans
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles2 records
Constructive Loans technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Constructive Loans partnerships and signals
Strategic signalScale indicators5 records
Recent moves5 records
Expansion highlights5 records
Constructive Loans competitors and assessment
Company assessmentDirect peers
- Kiavi (formerly LendingHome): Kiavi is a leading direct wholesale/private lender to real estate investors, offering fix-and-flip, bridge, and DSCR rental loans through broker and direct channels. Highly comparable as a non-QM business-purpose lender serving the same SMB investor and broker customers.
- Visio Financial (Lument portfolio): Visio Financial is a private direct and wholesale lender specializing in fix-and-flip, rental, and bridge loans for real estate investors. Operates in a similar broker/TPO channel and product mix as Constructive.
- Deephaven Mortgage: Deephaven Mortgage is a non-QM and business-purpose lender focused on DSCR rental, fix-and-flip, and second-home investor loans distributed through brokers. Direct peer in product mix and broker channel for investor lending.
- Roc Capital Solutions: ROC Capital is a direct private lender to real estate investors offering fix-and-flip, rental (DSCR), and construction loans nationally. Comparable product mix and SMB investor focus; shares the property-first underwriting philosophy.
- NewRez (Wholesale / non-QM division): NewRez operates a sizeable wholesale mortgage channel with non-QM and DSCR products distributed through TPOs and brokers. Comparable in wholesale broker distribution and investor-focused product set, though NewRez is broader (owned by Rithm Capital/NHF).
- Angel Oak Mortgage Solutions: Angel Oak Mortgage Solutions is a wholesale non-QM lender distributing DSCR, fix-and-flip and bank statement products through a broker network. Highly relevant as a broker-channel peer in business-purpose lending.
Emerging players
- Longbridge Financial: Longbridge Financial is a non-QM lender offering proprietary reverse mortgage and investor loan products distributed via wholesale/broker channels. Comparable wholesale broker distribution model with focus on underserved borrower segments.
Broad incumbents
- United Wholesale Mortgage (UWM): UWM is the largest wholesale mortgage lender in the U.S., serving brokers across conventional, government, and increasingly non-QM investor products. Broader portfolio but competes for broker mind-share and DSCR product attention with Constructive.
- Rocket Pro TPO (Rocket Mortgage wholesale): Rocket Pro TPO is a leading wholesale broker channel serving business purpose and investor lending at scale, with broker portal similar to Constructive's. Broader incumbent in broker distribution with overlapping investor product lines.
- Caliber Home Loans (Non-QM / Business Purpose): Caliber operates a diversified mortgage platform with a business-purpose lending division that originates investor loans and services the wholesale channel. Comparable in non-QM investor lending and broker distribution.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Constructive Loans financial estimates
Financial estimateRevenue estimate
Valuation estimate
Constructive Loans leadership team
Management profileNumber of profiles
Profiles12 records
Constructive Loans subsidiaries and ownership
Company hierarchySubsidiaries1 record
Constructive Loans funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Constructive Loans M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Constructive Loans
What does Constructive Loans do?
Constructive Capital is a wholesale lender that originates business purpose mortgage loans for real estate investors, including DSCR rental loans, RTL/fix & flip loans (with ground-up construction), and revolving investor lines of credit. Loans are underwritten based on property cash flow (Debt Service Coverage Ratio) rather than borrower income, and products are distributed exclusively through a network of licensed mortgage brokers and third-party originators using a dedicated broker portal.
Is Constructive Loans a public or private company?
Constructive Loans is a private company. It is classified as corporate owned and is currently operating.
When was Constructive Loans founded?
Constructive Loans was founded in 2017. It employs 101 to 250 people.
Where is Constructive Loans based?
Constructive Loans is headquartered in Oak Brook, United States, in the North America region.
How does Constructive Loans make money?
Two revenue lines are on record. Loan Origination and Securitization is the primary driver. The others are interest Income on Investment Portfolio.
Who are Constructive Loans's main competitors?
Direct peers on record are Kiavi (formerly LendingHome), Visio Financial (Lument portfolio), Deephaven Mortgage, Roc Capital Solutions, NewRez (Wholesale / non-QM division) and Angel Oak Mortgage Solutions. Longbridge Financial is listed as an emerging player. Broad incumbents are United Wholesale Mortgage (UWM), Rocket Pro TPO (Rocket Mortgage wholesale) and Caliber Home Loans (Non-QM / Business Purpose).
Does Constructive Loans have an API?
No public API is recorded for Constructive Loans.
What industry is Constructive Loans in?
Constructive Loans's product category is Business Purpose Mortgage Lending. Its primary akta.pro industry code is FSALACAA, Wholesale Mortgage Lending (Broker Channel), with a secondary code of FSAAAHAG, Private Credit / Direct Lending. Its NAICS code is 52231 and its SIC code is 6162.