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 Home Improvement, Refi, and Cash Out Refi loans. Library Of Congress has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Richmond, Baltimore, North Port, and Cape Coral among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Library Of Congress has an 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.

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

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    Originations

    75

    Origination Dollar Volume (All Markets)

    $13,065,000

    Awards

    LIBRARY OF CONGRESS 30 Year Conventional Loans bronze LIBRARY OF CONGRESS 30 Year Conventional Loans gold
    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) 58 $10,090,000 $173,966 $3,515 4.24%
    RICHMOND, VA (FHA|USDA|VA) 1 $535,000 $535,000 $3,228 3.50%
    Outside of Metro Areas 2 $520,000 $260,000 $4,822 4.50%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 6 $490,000 $81,667 $1,366 3.88%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $375,000 $375,000 $4,057 3.75%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $375,000 $375,000 $4,855 3.50%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $310,000 $155,000 $3,892 3.38%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $135,000 $135,000 $2,096 3.75%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $105,000 $105,000 $663 4.75%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $75,000 $75,000 $1,286 5.25%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $55,000 $55,000 $1,274 5.75%
    Library Of Congress's top markets include Washington, Richmond, Baltimore, North Port, and Cape Coral among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Jersey (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.

    UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION,INC.
    Similarity Rank: 636
    NYMEO FEDERAL CREDIT UNION
    Similarity Rank: 697
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 828
    EDUCATIONAL SYSTEMS
    Similarity Rank: 1134
    IDB Global Federal Credit Union
    Similarity Rank: 1182
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1323
    LANGLEY
    Similarity Rank: 1728
    Philadelphia Mortgage Advisors, Inc.
    Similarity Rank: 1798
    PIKE CREEK MORTGAGE SERVICES, INC.
    Similarity Rank: 1995
    STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED
    Similarity Rank: 2016

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 38 $9,490,000 $249,737 $3,258 4.33%
    HELOC 37 $3,575,000 $96,622 n/a 4.07%

    For 2019, Library Of Congress's most frequently originated type of loan was Conventional, with 38 originations. Their 2nd most popular type was HELOC, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 29 $2,635,000 $90,862 $1,339 4.28%
    Refi 17 $4,795,000 $282,059 $3,876 3.82%
    Other 16 $1,460,000 $91,250 $1,035 4.53%
    Cash Out Refi 8 $2,840,000 $355,000 $3,637 4.11%
    Home Purchase 5 $1,335,000 $267,000 $3,862 4.15%

    For 2019, Library Of Congress's most frequently cited loan purpose was Home Improvement, with 29 originations. The 2nd most popular reason was Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 44 $4,740,000 $107,727 $2,281 4.24%
    30 Year 22 $7,170,000 $325,909 $4,288 3.83%
    10 Year 6 $330,000 $55,000 $1,246 5.42%
    20 Year 2 $750,000 $375,000 $2,374 3.50%
    5 Year 1 $75,000 $75,000 $1,286 5.25%

    For 2019, Library Of Congress's most frequently cited loan duration was 15 Year, with 44 originations. The 2nd most popular length was 30 Year, with 22 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 46 $10,290,000 $223,696
    5-6% 25 $2,095,000 $83,800
    4-5% 4 $680,000 $170,000

    During 2019, Library Of Congress's average interest rate for loans was 3.83%, while their most frequently originated rate bucket for loans was 3-4%, with 46 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 34 $1,760,000 $51,765 $1,375 4.59%
    $100k-200k 17 $2,155,000 $126,765 $2,304 4.00%
    $200k-400k 16 $4,880,000 $305,000 $4,474 3.95%
    $400k-600k 7 $3,525,000 $503,571 $4,518 3.45%
    $600k-1MM 1 $745,000 $745,000 $7,268 4.00%

    2019 saw Library Of Congress place emphasis on $100,000 or less loans with 34 originations, totaling $1,760,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 20 $3,050,000 $152,500 $3,502 4.09%
    $150k-250k 20 $4,350,000 $217,500 $3,568 4.36%
    $75k-100k 15 $1,805,000 $120,333 $2,745 4.36%
    $250k+ 9 $3,085,000 $342,778 $3,964 3.51%
    $50k-75k 6 $450,000 $75,000 $2,317 4.46%
    $50k or less 5 $325,000 $65,000 $2,094 4.53%

    Library Of Congress lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $150k-250k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 23 $5,915,000 $257,174 $3,700 3.75%
    30-36% 17 $3,005,000 $176,765 $3,087 4.33%
    <20% 11 $2,115,000 $192,273 $4,552 3.74%
    39% 5 $195,000 $39,000 $418 4.25%
    40% 4 $270,000 $67,500 $1,337 5.00%
    36% 3 $555,000 $185,000 $2,737 4.38%
    50-60% 2 $210,000 $105,000 $1,304 4.63%
    44% 2 $100,000 $50,000 $0 4.38%
    41% 1 $65,000 $65,000 $644 5.75%
    43% 1 $25,000 $25,000 $0 3.25%
    37% 1 $105,000 $105,000 $0 5.50%
    45% 1 $65,000 $65,000 $1,794 5.75%
    46% 1 $305,000 $305,000 $0 5.50%
    48% 1 $25,000 $25,000 $0 5.50%
    49% 1 $55,000 $55,000 $0 5.50%
    38% 1 $55,000 $55,000 $0 5.25%

    Library Of Congress lent most frequently to those with DTI ratios of 20-30%, with 23 originations. The next most common DTI ratio? 30-36%, with 17 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 51 $8,625,000 $169,118 $3,234 4.20%
    Black 24 $4,440,000 $185,000 $3,299 4.22%

    Approval Rates

    Total approvals of all applications
    85.57%

    Library Of Congress has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.33%

    Library Of Congress has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 75 $13,065,000 $174,200

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 75 $13,065,000 $174,200

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $1,545,000 $140,455 $2,899 4.91%
    40-60% 4 $1,570,000 $392,500 $3,133 3.50%
    60-80% 14 $4,780,000 $341,429 $3,828 3.86%
    80-100% 8 $2,670,000 $333,750 $5,005 3.70%
    Under 20% 38 $2,500,000 $65,789 $1,206 4.31%