Library Of Congress Mortgage Rates, Fees & Info

Washington, DC

LEI: 549300P1ORVTMT2T7756

Tax ID: 53-0201233

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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 Refi and Cash Out Refi loans. Library Of Congress has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Hagerstown, California, and Dallas among others. We have data for 15 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 an above 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

    116

    Origination Dollar Volume (All Markets)

    $25,250,000

    Awards

    LIBRARY OF CONGRESS 30 Year Conventional Loans gold LIBRARY OF CONGRESS 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) 80 $18,840,000 $235,500 $2,354 3.27%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 20 $4,110,000 $205,500 $1,739 3.30%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 2 $390,000 $195,000 $2,624 3.38%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $265,000 $265,000 $3,242 3.25%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $235,000 $235,000 $4,328 3.00%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $225,000 $225,000 $1,724 3.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,485 3.00%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $165,000 $165,000 $2,998 3.38%
    PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 1 $155,000 $155,000 $0 3.50%
    RICHMOND, VA (FHA|USDA|VA) 2 $140,000 $70,000 $0 3.00%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $125,000 $125,000 $3,155 3.25%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $115,000 $115,000 $0 2.75%
    Outside of Metro Areas 1 $105,000 $105,000 $3,207 2.88%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $105,000 $105,000 $0 2.75%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 2 $50,000 $25,000 $1,109 4.13%
    Library Of Congress's top markets include Washington, Baltimore, Hagerstown, California, and Dallas among others.

    Their top states include:
  • Maryland (FHA|USDA|VA)
  • Virginia (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.

    Poli Mortgage Group, Inc.
    Similarity Rank: 1100
    Beeline Loans, Inc.
    Similarity Rank: 1505
    Kwik Mortgage Corporation
    Similarity Rank: 1602
    IDB Global Federal Credit Union
    Similarity Rank: 1782
    VILLAGE BANK MORTGAGE CORPORATION
    Similarity Rank: 1920
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2052
    Credence Funding Corporation
    Similarity Rank: 2400
    ACNB Bank
    Similarity Rank: 2450
    UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION,INC.
    Similarity Rank: 2842
    U S WIDE FINANCIAL LLC
    Similarity Rank: 2964

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 81 $22,425,000 $276,852 $2,297 3.39%
    HELOC 35 $2,825,000 $80,714 n/a 2.99%

    For 2020, Library Of Congress's most frequently originated type of loan was Conventional, with 81 originations. Their 2nd most popular type was HELOC, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 44 $12,620,000 $286,818 $2,370 3.12%
    Home Improvement 32 $2,160,000 $67,500 $1,212 3.55%
    Cash Out Refi 22 $7,700,000 $350,000 $2,600 3.20%
    Other 10 $1,000,000 $100,000 $1,065 3.18%
    Home Purchase 8 $1,770,000 $221,250 $2,161 3.22%

    For 2020, Library Of Congress's most frequently cited loan purpose was Refi, with 44 originations. The 2nd most popular reason was Home Improvement, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 57 $17,835,000 $312,895 $2,446 3.22%
    15 Year 56 $6,810,000 $121,607 $1,864 3.29%
    10 Year 2 $340,000 $170,000 $2,187 4.19%
    20 Year 1 $265,000 $265,000 $3,304 3.25%

    For 2020, Library Of Congress's most frequently cited loan duration was 30 Year, with 57 originations. The 2nd most popular length was 15 Year, with 56 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 15 $4,175,000 $278,333
    $<1k 5 $735,000 $147,000
    $2k-3k 2 $1,000,000 $500,000
    $3k-4k 1 $615,000 $615,000

    Library Of Congress's average total fees were $2,446, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 15 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 59 $14,155,000 $239,915
    2.5-3% 42 $9,040,000 $215,238
    5-6% 9 $505,000 $56,111
    <2.5% 6 $1,550,000 $258,333

    During 2020, Library Of Congress's average interest rate for loans was 3.22%, while their most frequently originated rate bucket for loans was 3-4%, with 59 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 48 $13,810,000 $287,708 $2,392 3.08%
    $100,000 or less 31 $1,685,000 $54,355 $1,176 3.68%
    $100k-200k 25 $3,515,000 $140,600 $2,057 3.17%
    $400k-600k 10 $4,970,000 $497,000 $2,898 3.16%
    $600k-1MM 2 $1,270,000 $635,000 $3,125 3.25%

    2020 saw Library Of Congress place emphasis on $200k-400k loans with 48 originations, totaling $13,810,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 45 $10,225,000 $227,222 $2,606 3.12%
    $150k-250k 30 $6,940,000 $231,333 $2,004 3.21%
    $75k-100k 17 $2,535,000 $149,118 $2,002 3.68%
    $50k-75k 13 $1,735,000 $133,462 $2,155 3.48%
    $250k+ 8 $3,410,000 $426,250 $2,642 3.08%
    $50k or less 3 $405,000 $135,000 $1,581 3.33%

    Library Of Congress lent most frequently to those with incomes in the $100k-150k range, with 45 originations. The second most popular income band? $150k-250k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 39 $9,175,000 $235,256 $2,316 3.25%
    <20% 29 $8,355,000 $288,103 $2,465 3.06%
    30-36% 18 $3,820,000 $212,222 $2,419 3.39%
    37% 5 $815,000 $163,000 $1,686 3.05%
    41% 4 $270,000 $67,500 $1,210 3.44%
    39% 4 $640,000 $160,000 $1,658 3.69%
    36% 3 $465,000 $155,000 $2,202 2.96%
    38% 3 $695,000 $231,667 $1,541 3.83%
    42% 3 $215,000 $71,667 $3,155 3.25%
    46% 2 $120,000 $60,000 $1,109 4.38%
    49% 2 $320,000 $160,000 $0 2.75%
    44% 1 $65,000 $65,000 $1,229 5.50%
    43% 1 $35,000 $35,000 $0 3.25%
    50-60% 1 $155,000 $155,000 $0 2.75%
    48% 1 $105,000 $105,000 $0 2.75%

    Library Of Congress lent most frequently to those with DTI ratios of 20-30%, with 39 originations. The next most common DTI ratio? <20%, with 29 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 73 $15,435,000 $211,438 $2,311 3.21%
    Black 32 $7,750,000 $242,188 $2,289 3.36%
    Not provided 8 $1,430,000 $178,750 $2,412 3.44%
    Other Asian 1 $345,000 $345,000 $2,333 3.50%
    Japanese 1 $155,000 $155,000 $0 3.50%
    Filipino 1 $135,000 $135,000 $1,160 3.13%

    Approval Rates

    Total approvals of all applications
    85.11%

    Library Of Congress has an average approval rate.

    Pick Rate

    Approvals leading to origination
    96.55%

    Library Of Congress has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 116 $25,250,000 $217,672

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 116 $25,250,000 $217,672

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $2,045,000 $157,308 $2,409 3.62%
    40-60% 14 $4,040,000 $288,571 $2,305 2.93%
    60-80% 33 $9,805,000 $297,121 $2,425 3.13%
    80-100% 22 $6,990,000 $317,727 $2,409 3.23%
    Under 20% 34 $2,370,000 $69,706 $1,269 3.43%