Atlantic City USDA Loan Rates, Closing Costs & Stats

ATLANTIC CITY-HAMMONTON, NJ

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Atlantic City's 29 lenders originated 93 USDA loans during 2021. The total origination value was $15,945,000, with an average USDA loan value of $171,452.

Atlantic City USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Atlantic City averaged 6.02% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

Atlantic City's average USDA mortgage closing costs are $5,123.

The average rate for the prior week (2023-01-20) was 6.32% and one month ago for the week of 2022-12-23, the average rate was 6.15%.

The average rate one year ago was 3.6%.

For refis of the same type during the week of 2023-01-27, the average rate was 5.96%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Atlantic City USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Atlantic City level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
UNION HOME MORTGAGE CORP. 15 2.88% $5,411
CALIBER HOME LOANS, INC. 13 2.85% $4,291
GREENTREE MORTGAGE COMPANY, L.P. 11 2.94% $4,795
FINANCE OF AMERICA MORTGAGE LLC 5 3.15% $5,778
CROSSCOUNTRY MORTGAGE, LLC 5 2.90% $6,757
Prosperity Home Mortgage, LLC 5 2.75% $6,678
MLD MORTGAGE INC. 4 3.03% $5,767
Advisors Mortgage Group, L.L.C. 4 3.09% $5,388
DRAPER AND KRAMER MORTGAGE CORP. 4 2.75% $5,314
ALLIED MORTGAGE GROUP, INC. 4 3.03% $5,526
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 3.17% $6,305
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 2.69% $8,003
Meridian Bank Corporation 2 2.81% $5,230
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.00% $5,412
RESIDENTIAL HOME FUNDING CORP. 1 2.88% $4,446
1st Colonial Community Bank 1 2.75% $7,084
UNITED WHOLESALE MORTGAGE, LLC 1 2.50% $7,644
ABSOLUTE HOME MORTGAGE CORPORATION 1 3.25% $7,128
AMERICAN FINANCIAL NETWORK, INC. 1 3.00% $11,373
AmRes Corporation 1 2.75% $5,125
Carrington Mortgage Services, LLC 1 2.88% $7,665
EMM LOANS LLC 1 3.13% $5,084
FAMILY FIRST FUNDING LLC 1 3.13% $6,251
FREEDOM MORTGAGE CORPORATION 1 3.00% $2,019
Gateway First Bank 1 3.00% $5,175
GUARANTEED RATE, INC. 1 3.13% $3,820
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.75% $7,372
KELLER MORTGAGE, LLC 1 2.75% $3,995
Nations Lending Corporation 1 2.75% $11,883

The top Atlantic City USDA lender as defined by loan originations is UNION HOME MORTGAGE CORP., with 15 USDA loans originated. Their average total fees are $5,411, which is $1,121 higher than the next largest lender, CALIBER HOME LOANS, INC..

The lowest fee Atlantic City USDA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. ($4,291), GREENTREE MORTGAGE COMPANY, L.P. ($4,795), UNION HOME MORTGAGE CORP. ($5,411), .

The lowest rate Atlantic City USDA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. (2.85%), UNION HOME MORTGAGE CORP. (2.88%), GREENTREE MORTGAGE COMPANY, L.P. (2.94%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Atlantic City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $229,900 (4.6%) $401,416 (10.0%) 0.85 2,451
2018-02-01 $229,900 (3.4%) $405,384 (10.0%) 0.83 2,488
2018-03-01 $230,000 (1.4%) $405,999 (6.6%) 0.81 2,589
2018-04-01 $234,900 (2.6%) $407,283 (5.6%) 0.80 2,602
2018-05-01 $239,900 (3.2%) $414,048 (6.7%) 0.80 2,612
2018-06-01 $244,900 (4.2%) $419,228 (6.9%) 0.82 2,593
2018-07-01 $248,250 (4.4%) $424,252 (9.0%) 0.83 2,543
2018-08-01 $249,000 (4.2%) $424,710 (8.9%) 0.83 2,520
2018-09-01 $249,900 (4.2%) $425,003 (5.8%) 0.84 2,497
2018-10-01 $249,450 (4.0%) $417,739 (3.3%) 0.84 2,473
2018-11-01 $245,900 (2.9%) $413,927 (2.9%) 0.83 2,446
2018-12-01 $244,900 (4.3%) $411,453 (3.0%) 0.84 2,411
2019-01-01 $244,450 (6.3%) $411,215 (2.4%) 0.84 2,289
2019-02-01 $245,000 (6.6%) $419,585 (3.5%) 0.83 2,381
2019-03-01 $251,943 (9.5%) $447,757 (10.3%) 0.82 2,484
2019-04-01 $261,750 (11.4%) $481,849 (18.3%) 0.83 2,515
2019-05-01 $260,250 (8.5%) $434,412 (4.9%) 0.81 2,583
2019-06-01 $259,000 (5.8%) $428,780 (2.3%) 0.81 2,601
2019-07-01 $257,000 (3.5%) $426,720 (0.6%) 0.80 2,602
2019-08-01 $249,182 (0.1%) $420,946 (-0.9%) 0.79 2,585
2019-09-01 $247,955 (-0.8%) $414,999 (-2.4%) 0.79 2,538
2019-10-01 $247,136 (-0.9%) $410,005 (-1.9%) 0.80 2,496
2019-11-01 $249,765 (1.6%) $406,043 (-1.9%) 0.82 2,369
2019-12-01 $248,200 (1.4%) $397,777 (-3.3%) 0.83 2,245
2020-01-01 $246,988 (1.0%) $398,736 (-3.0%) 0.83 2,122
2020-02-01 $248,950 (1.6%) $403,876 (-3.7%) 0.81 2,125
2020-03-01 $249,900 (-0.8%) $413,196 (-7.7%) 0.78 2,197
2020-04-01 $249,900 (-4.5%) $412,052 (-14.5%) 0.78 2,150
2020-05-01 $249,765 (-4.0%) $411,604 (-5.3%) 0.76 2,093
2020-06-01 $248,975 (-3.9%) $413,931 (-3.5%) 0.73 1,913
2020-07-01 $249,250 (-3.0%) $425,111 (-0.4%) 0.72 1,723
2020-08-01 $249,000 (-0.1%) $423,703 (0.7%) 0.71 1,572
2020-09-01 $249,950 (0.8%) $431,045 (3.9%) 0.72 1,536
2020-10-01 $249,900 (1.1%) $432,006 (5.4%) 0.72 1,536
2020-11-01 $249,900 (0.1%) $440,756 (8.6%) 0.73 1,533
2020-12-01 $246,500 (-0.7%) $428,252 (7.7%) 0.73 1,501
2021-01-01 $239,394 (-3.1%) $421,797 (5.8%) 0.71 1,303
2021-02-01 $239,844 (-3.7%) $436,549 (8.1%) 0.70 1,168
2021-03-01 $239,900 (-4.0%) $442,341 (7.1%) 0.68 1,093
2021-04-01 $249,450 (-0.2%) $461,216 (11.9%) 0.68 1,073
2021-05-01 $269,900 (8.1%) $472,284 (14.7%) 0.71 1,088
2021-06-01 $269,450 (8.2%) $465,402 (12.4%) 0.71 1,118
2021-07-01 $276,000 (10.7%) $453,894 (6.8%) 0.73 1,264
2021-08-01 $281,175 (12.9%) $452,914 (6.9%) 0.75 1,321
2021-09-01 $289,000 (15.6%) $446,543 (3.6%) 0.77 1,296
2021-10-01 $294,900 (18.0%) $454,529 (5.2%) 0.79 1,198
2021-11-01 $287,450 (15.0%) $444,559 (0.9%) 0.77 1,110
2021-12-01 $285,000 (15.6%) $450,987 (5.3%) 0.77 1,010
2022-01-01 $289,450 (20.9%) $451,293 (7.0%) 0.78 875
2022-02-01 $287,000 (19.7%) $464,529 (6.4%) 0.75 782
2022-03-01 $277,000 (15.5%) $484,465 (9.5%) 0.69 783
2022-04-01 $292,450 (17.2%) $512,287 (11.1%) 0.70 806
2022-05-01 $327,625 (21.4%) $544,867 (15.4%) 0.75 907
2022-06-01 $329,000 (22.1%) $555,690 (19.4%) 0.73 993
2022-07-01 $329,000 (19.2%) $544,059 (19.9%) 0.74 1,124
2022-08-01 $325,000 (15.6%) $551,907 (21.9%) 0.75 1,120
2022-09-01 $324,867 (12.4%) $545,120 (22.1%) 0.76 1,058
2022-10-01 $329,000 (11.6%) $562,096 (23.7%) 0.77 1,050
2022-11-01 $327,450 (13.9%) $570,806 (28.4%) 0.79 1,054
2022-12-01 $325,000 (14.0%) $570,941 (26.6%) 0.81 967
Atlantic City's median listing price for 2022-12-01 was $325,000, a difference of $40,000 (14.0%) versus the prior year and $-2,450 versus the prior month.

Atlantic City's median listing price comes in at 81% of the national average.

Atlantic City's average listing price for 2022-12-01 was $570,941, a difference of $119,954 (26.6%) versus the prior year and $135 versus the prior month.

For the 2022-12-01 period, Atlantic City had 967 MLS listings, a difference of -87 listings (-8%) versus the prior month and -43 listings (-4%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Atlantic City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 109 days 1,714 sqft
2018-02-01 107 days 1,719 sqft
2018-03-01 89 days 1,707 sqft
2018-04-01 76 days 1,743 sqft
2018-05-01 80 days 1,751 sqft
2018-06-01 86 days 1,786 sqft
2018-07-01 93 days 1,779 sqft
2018-08-01 93 days 1,790 sqft
2018-09-01 89 days 1,800 sqft
2018-10-01 87 days 1,780 sqft
2018-11-01 89 days 1,737 sqft
2018-12-01 96 days 1,719 sqft
2019-01-01 101 days 1,731 sqft
2019-02-01 96 days 1,726 sqft
2019-03-01 82 days 1,736 sqft
2019-04-01 73 days 1,734 sqft
2019-05-01 75 days 1,742 sqft
2019-06-01 78 days 1,727 sqft
2019-07-01 83 days 1,734 sqft
2019-08-01 85 days 1,735 sqft
2019-09-01 87 days 1,726 sqft
2019-10-01 89 days 1,716 sqft
2019-11-01 95 days 1,700 sqft
2019-12-01 101 days 1,677 sqft
2020-01-01 103 days 1,658 sqft
2020-02-01 95 days 1,649 sqft
2020-03-01 76 days 1,680 sqft
2020-04-01 84 days 1,665 sqft
2020-05-01 96 days 1,680 sqft
2020-06-01 109 days 1,657 sqft
2020-07-01 110 days 1,660 sqft
2020-08-01 73 days 1,600 sqft
2020-09-01 60 days 1,564 sqft
2020-10-01 60 days 1,581 sqft
2020-11-01 66 days 1,569 sqft
2020-12-01 79 days 1,527 sqft
2021-01-01 89 days 1,476 sqft
2021-02-01 85 days 1,457 sqft
2021-03-01 73 days 1,463 sqft
2021-04-01 57 days 1,465 sqft
2021-05-01 53 days 1,508 sqft
2021-06-01 52 days 1,527 sqft
2021-07-01 50 days 1,575 sqft
2021-08-01 51 days 1,573 sqft
2021-09-01 57 days 1,592 sqft
2021-10-01 64 days 1,576 sqft
2021-11-01 63 days 1,548 sqft
2021-12-01 71 days 1,568 sqft
2022-01-01 80 days 1,546 sqft
2022-02-01 72 days 1,489 sqft
2022-03-01 46 days 1,498 sqft
2022-04-01 45 days 1,511 sqft
2022-05-01 43 days 1,603 sqft
2022-06-01 44 days 1,593 sqft
2022-07-01 46 days 1,600 sqft
2022-08-01 56 days 1,580 sqft
2022-09-01 66 days 1,600 sqft
2022-10-01 64 days 1,608 sqft
2022-11-01 67 days 1,600 sqft
2022-12-01 80 days 1,587 sqft
Atlantic City's median listing age (time on market) for 2022-12-01 was 80 days. This is 13% longer than the same period one year ago.

Atlantic City's median square footage for active listings during the 2022-12-01 period was 1,587 sqft. One year prior, the average listing was 1,568 sqft.