Congressional Bank Mortgage Rates, Fees & Info

Bethesda, MD

LEI: 2549008CZOYIG4FIKS25

Tax ID: 43-2022906

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Congressional Bank is a smaller bank specializing in Home Purchase loans. Congressional Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Washington, Elizabeth City, Baltimore, Wilmington, and Orlando among others. We have data for 30 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Congressional Bank 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. Congressional Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) 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.

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

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.32% 11/21/24
    30 Year Conventional Refi 6.27% 11/21/24
    30 Year Cash-out Refi 6.70% 11/21/24
    30 Year FHA Purchase 7.53% 11/21/24
    30 Year VA Purchase 5.99% 11/21/24
    30 Year USDA Purchase 6.26% 11/21/24
    15 Year Conventional Purchase 5.68% 11/21/24
    15 Year Conventional Refi 5.81% 11/21/24
    15 Year Cash-out Refi 5.81% 11/21/24
    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.

    Congressional Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Congressional Bank. 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

    112

    Origination Dollar Volume (All Markets)

    $93,750,000

    Awards

    Congressional Bank 30 Year Conventional Loans silver Congressional Bank 30 Year Conventional Loans silver
    Show all (2) awards

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 55 $47,895,000 $870,818 $7,701 4.46%
    Elizabeth City, NC (FHA|USDA|VA) 1 $27,805,000 $27,805,000 $0 4.74%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 9 $3,705,000 $411,667 $3,897 4.37%
    WILMINGTON, NC (FHA|USDA|VA) 5 $1,775,000 $355,000 $5,121 4.27%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $1,440,000 $360,000 $6,713 4.69%
    COLUMBUS, OH (FHA|USDA|VA) 4 $1,100,000 $275,000 $5,809 4.50%
    Outside of Metro Areas 4 $990,000 $247,500 $6,908 3.90%
    RICHMOND, VA (FHA|USDA|VA) 1 $795,000 $795,000 $10,584 4.63%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $770,000 $192,500 $4,740 3.22%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $770,000 $385,000 $4,018 3.19%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $660,000 $330,000 $9,015 5.25%
    TUCSON, AZ (FHA|USDA|VA) 1 $535,000 $535,000 $33,048 2.38%
    WINCHESTER, VA-WV (FHA|USDA|VA) 2 $520,000 $260,000 $10,810 4.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $495,000 $495,000 $6,597 4.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $455,000 $455,000 $7,601 3.25%
    Danville, VA (FHA|USDA|VA) 2 $420,000 $210,000 $6,100 2.63%
    HARRISONBURG, VA (FHA|USDA|VA) 1 $405,000 $405,000 $0 4.37%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $395,000 $395,000 $7,329 5.63%
    OCALA, FL (FHA|USDA|VA) 1 $395,000 $395,000 $6,701 4.75%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $345,000 $345,000 $6,635 3.00%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $305,000 $305,000 $4,862 3.88%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $295,000 $295,000 $4,748 3.99%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $275,000 $275,000 $4,600 2.99%
    LAWRENCE, KS (FHA|USDA|VA) 1 $215,000 $215,000 $2,994 5.38%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $205,000 $205,000 $5,606 4.63%
    Sandpoint, ID (FHA|USDA|VA) 1 $195,000 $195,000 $5,283 3.75%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $195,000 $195,000 $4,560 3.88%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $175,000 $175,000 $4,277 4.63%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $115,000 $115,000 $0 4.13%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $105,000 $105,000 $3,549 3.88%
    Congressional Bank's top markets include Washington, Elizabeth City, Baltimore, Wilmington, and Orlando among others.

    Their top states include:
  • North Carolina (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Congressional Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    RSI BANK
    Similarity Rank: 30
    Schuyler Savings Bank
    Similarity Rank: 51
    North Jersey Federal Credit Union
    Similarity Rank: 124
    The First National Bank of Long Island
    Similarity Rank: 142
    POINT BREEZE
    Similarity Rank: 144
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 156
    Sharefax Credit Union
    Similarity Rank: 170
    N C P D Federal Credit Union
    Similarity Rank: 201
    CINFED Federal Credit Union
    Similarity Rank: 210
    Community Star Credit Union
    Similarity Rank: 249

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 94 $85,330,000 $907,766 $5,186 4.30%
    FHA 9 $3,675,000 $408,333 $13,281 4.56%
    VA 7 $4,315,000 $616,429 $16,425 3.77%
    USDA 2 $430,000 $215,000 $7,673 3.88%

    For 2022, Congressional Bank's most frequently originated type of loan was Conventional, with 94 originations. Their 2nd most popular type was FHA, with 9 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 75 $70,765,000 $943,533 $7,508 4.42%
    Cash Out Refi 26 $18,150,000 $698,077 $6,476 4.18%
    Refi 7 $2,475,000 $353,571 $3,431 3.21%
    Home Improvement 2 $900,000 $450,000 $2,310 4.90%
    Other 2 $1,460,000 $730,000 $6,193 3.50%

    For 2022, Congressional Bank's most frequently cited loan purpose was Home Purchase, with 75 originations. The 2nd most popular reason was Cash Out Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 82 $35,510,000 $433,049 $7,078 4.24%
    15 Year 10 $3,480,000 $348,000 $9,351 3.15%
    5 Year 9 $12,485,000 $1,387,222 $0 5.67%
    Other 4 $4,560,000 $1,140,000 $2,955 4.28%
    10 Year 3 $495,000 $165,000 $175 4.92%
    20 Year 2 $410,000 $205,000 $3,107 3.18%
    3 Year 2 $36,810,000 $18,405,000 $0 5.52%

    For 2022, Congressional Bank's most frequently cited loan duration was 30 Year, with 82 originations. The 2nd most popular length was 15 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 50 $21,010,000 $420,200
    $5k+ 18 $10,050,000 $558,333
    $2k-3k 6 $1,490,000 $248,333
    $3k-4k 6 $2,530,000 $421,667
    $4k-5k 5 $2,145,000 $429,000
    $<1k 3 $205,000 $68,333

    Congressional Bank's average total fees were $7,078, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 50 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 44 $56,170,000 $1,276,591
    3-4% 36 $16,730,000 $464,722
    2.5-3% 10 $3,910,000 $391,000
    5-6% 10 $3,790,000 $379,000
    6-7% 7 $11,955,000 $1,707,857
    <2.5% 4 $1,180,000 $295,000
    Over 8% 1 $15,000 $15,000

    During 2022, Congressional Bank's average interest rate for loans was 4.24%, while their most frequently originated rate bucket for loans was 4-5%, with 44 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 42 $12,560,000 $299,048 $6,157 4.47%
    $400k-600k 30 $14,850,000 $495,000 $8,404 4.18%
    $600k-1MM 16 $11,490,000 $718,125 $7,773 4.31%
    $100k-200k 11 $1,725,000 $156,818 $3,508 3.64%
    $1MM+ 9 $52,925,000 $5,880,556 $16,919 4.65%
    $100,000 or less 4 $200,000 $50,000 $1,761 3.81%

    2022 saw Congressional Bank place emphasis on $200k-400k loans with 42 originations, totaling $12,560,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 22 $10,300,000 $468,182 $7,900 3.94%
    $250k+ 22 $13,100,000 $595,455 $8,634 4.25%
    $100k-150k 19 $6,395,000 $336,579 $6,224 4.37%
    $50k-75k 17 $4,205,000 $247,353 $5,550 3.85%
    $75k-100k 17 $6,115,000 $359,706 $6,848 4.25%
    $50k or less 2 $290,000 $145,000 $3,455 4.13%

    Congressional Bank lent most frequently to those with incomes in the $150k-250k range, with 22 originations. The second most popular income band? $250k+, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 28 $12,360,000 $441,429 $6,396 4.11%
    20-30% 16 $5,570,000 $348,125 $5,563 3.92%
    41% 8 $2,790,000 $348,750 $5,526 4.66%
    <20% 6 $2,420,000 $403,333 $3,625 3.44%
    44% 6 $2,240,000 $373,333 $6,176 5.08%
    50-60% 5 $2,585,000 $517,000 $12,641 4.95%
    43% 5 $1,125,000 $225,000 $4,105 3.50%
    38% 4 $1,170,000 $292,500 $5,091 4.00%
    40% 4 $2,510,000 $627,500 $4,465 3.75%
    48% 3 $1,615,000 $538,333 $10,854 3.58%
    37% 3 $1,885,000 $628,333 $24,561 4.29%
    36% 3 $1,035,000 $345,000 $6,314 3.92%
    39% 2 $520,000 $260,000 $6,855 4.12%
    45% 2 $1,100,000 $550,000 $21,579 3.18%
    46% 1 $385,000 $385,000 $8,749 4.63%
    42% 1 $485,000 $485,000 $8,297 3.38%
    47% 1 $355,000 $355,000 $5,292 4.75%

    Congressional Bank lent most frequently to those with DTI ratios of 30-36%, with 28 originations. The next most common DTI ratio? 20-30%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 12 $53,090,000 $4,424,167 $0 5.35%
    White 53 $21,775,000 $410,849 $6,907 4.00%
    Asian 14 $7,170,000 $512,143 $8,269 4.25%
    Not provided 16 $6,450,000 $403,125 $6,040 4.10%
    Black 17 $5,265,000 $309,706 $7,187 4.59%

    Approval Rates

    Total approvals of all applications
    90.91%

    Congressional Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    63.39%

    Congressional Bank 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 112 $93,750,000 $837,054

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    112 $93,750,000 $837,054

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $1,355,000 $193,571 $3,104 4.63%
    40-60% 15 $14,985,000 $999,000 $4,756 3.98%
    60-80% 40 $27,620,000 $690,500 $6,463 4.39%
    80-100% 46 $20,880,000 $453,913 $7,814 4.24%
    Over 100% 2 $28,870,000 $14,435,000 $42,420 4.06%
    Under 20% 2 $40,000 $20,000 $175 4.13%