Library Of Congress Mortgage Rates, Fees & Info

Washington, DC

LEI: 549300P1ORVTMT2T7756

Tax ID: 53-0201233

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

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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

    Library Of Congress is a smaller mortgage company specializing in Other and Cash Out Refi loans. Library Of Congress 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.) Their top markets by origination volume include: Washington, Baltimore, Salisbury, Hagerstown, and Scranton among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Library Of Congress 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. Library Of Congress is typically a low 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.

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    Originations

    108

    Origination Dollar Volume (All Markets)

    $15,250,000

    Awards

    LIBRARY OF CONGRESS 30 Year Conventional Loans silver LIBRARY OF CONGRESS 30 Year Conventional Loans gold LIBRARY OF CONGRESS 30 Year Conventional Loans gold
    Show all (3) 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) 93 $13,675,000 $147,043 $3,791 4.97%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 9 $1,085,000 $120,556 $2,792 4.92%
    SALISBURY, MD-DE (FHA|USDA|VA) 2 $210,000 $105,000 $3,413 5.69%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.25%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.75%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $55,000 $55,000 $3,819 3.75%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.50%
    Library Of Congress's top markets include Washington, Baltimore, Salisbury, Hagerstown, and Scranton among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)

    • Similar Lenders

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

    Bank of Clarke County
    Similarity Rank: 320
    LIBRARY OF CONGRESS
    Similarity Rank: 448
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 450
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    EDUCATIONAL SYSTEMS
    Similarity Rank: 693
    JOHNSON MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 1220
    IDB Global Federal Credit Union
    Similarity Rank: 1240
    City National Bank of West Virginia
    Similarity Rank: 1482
    Poli Mortgage Group, Inc.
    Similarity Rank: 1596
    IAPPROVE LENDING
    Similarity Rank: 1740

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 54 $4,920,000 $91,111 n/a 5.21%
    Conventional 53 $10,285,000 $194,057 $3,713 4.70%
    FHA 1 $45,000 $45,000 $0 5.00%

    For 2018, Library Of Congress's most frequently originated type of loan was HELOC, with 54 originations. Their 2nd most popular type was Conventional, with 53 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 39 $3,845,000 $98,590 $2,243 5.22%
    Home Improvement 33 $2,385,000 $72,273 $2,301 5.37%
    Cash Out Refi 21 $6,165,000 $293,571 $3,698 4.13%
    Home Purchase 12 $2,300,000 $191,667 $4,225 4.57%
    Refi 3 $555,000 $185,000 $0 4.25%

    For 2018, Library Of Congress's most frequently cited loan purpose was Other, with 39 originations. The 2nd most popular reason was Home Improvement, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 55 $4,885,000 $88,818 $2,522 5.19%
    30 Year 30 $8,800,000 $293,333 $3,806 4.05%
    15 Year 19 $1,475,000 $77,632 $3,046 5.68%
    10 Year 3 $65,000 $21,667 $0 5.33%
    5 Year 1 $25,000 $25,000 $0 4.50%

    For 2018, Library Of Congress's most frequently cited loan duration was Other, with 55 originations. The 2nd most popular length was 30 Year, with 30 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 30 $8,300,000 $276,667

    Library Of Congress's average total fees were $3,806, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 30 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 53 $8,095,000 $152,736
    5-6% 32 $2,080,000 $65,000
    3-4% 16 $4,730,000 $295,625
    6-7% 6 $290,000 $48,333
    7-8% 1 $55,000 $55,000

    During 2018, Library Of Congress's average interest rate for loans was 4.05%, while their most frequently originated rate bucket for loans was 4-5%, with 53 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 60 $3,070,000 $51,167 $3,412 5.37%
    $100k-200k 22 $2,970,000 $135,000 $3,640 4.89%
    $200k-400k 22 $7,130,000 $324,091 $3,747 4.02%
    $400k-600k 3 $1,415,000 $471,667 $4,026 4.13%
    $600k-1MM 1 $665,000 $665,000 $0 4.75%

    2018 saw Library Of Congress place emphasis on $100,000 or less loans with 60 originations, totaling $3,070,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 46 $6,150,000 $133,696 $3,463 5.03%
    $150k-250k 28 $4,420,000 $157,857 $3,726 5.00%
    $50k-75k 14 $1,580,000 $112,857 $3,988 4.92%
    $75k-100k 11 $1,885,000 $171,364 $3,771 4.71%
    $250k+ 5 $935,000 $187,000 $5,343 5.18%
    $50k or less 4 $280,000 $70,000 $3,551 4.31%

    Library Of Congress lent most frequently to those with incomes in the $100k-150k range, with 46 originations. The second most popular income band? $150k-250k, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 28 $4,120,000 $147,143 $3,838 5.19%
    20-30% 26 $3,820,000 $146,923 $4,006 4.57%
    <20% 8 $500,000 $62,500 $0 5.09%
    41% 8 $1,310,000 $163,750 $2,984 4.73%
    42% 7 $1,015,000 $145,000 $4,146 4.98%
    40% 6 $560,000 $93,333 $3,333 4.94%
    39% 6 $460,000 $76,667 $0 5.52%
    36% 5 $1,375,000 $275,000 $3,630 4.80%
    38% 4 $500,000 $125,000 $3,515 5.25%
    44% 2 $130,000 $65,000 $0 5.75%
    43% 2 $470,000 $235,000 $2,760 4.94%
    47% 2 $460,000 $230,000 $0 4.63%
    46% 1 $65,000 $65,000 $0 5.25%
    48% 1 $15,000 $15,000 $0 5.00%
    37% 1 $375,000 $375,000 $3,887 4.25%

    Library Of Congress lent most frequently to those with DTI ratios of 30-36%, with 28 originations. The next most common DTI ratio? 20-30%, with 26 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 78 $7,410,000 $95,000 $2,516 5.21%
    White 16 $4,570,000 $285,625 $3,767 4.33%
    Black 10 $2,530,000 $253,000 $3,727 4.12%
    Asian 4 $740,000 $185,000 $4,607 4.59%

    Approval Rates

    Total approvals of all applications
    90.65%

    Library Of Congress has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.26%

    Library Of Congress has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 108 $15,250,000 $141,204

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 108 $15,250,000 $141,204

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $1,660,000 $138,333 $3,777 4.98%
    40-60% 7 $2,155,000 $307,857 $3,517 4.07%
    60-80% 19 $5,885,000 $309,737 $3,905 4.18%
    80-100% 7 $1,775,000 $253,571 $3,667 3.91%
    Under 20% 63 $3,775,000 $59,921 $3,277 5.40%