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 10 lenders originated 25 USDA loans during 2023. The total origination value was $4,415,000, with an average USDA loan value of $176,600.
Atlantic City USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Atlantic City
averaged
6.9%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Atlantic City's average USDA mortgage closing costs are $5,337.
The average rate for the prior week (2024-04-12) was
6.76% and
one month ago for the week of 2024-03-15, the
average rate was 6.84%.
The average rate one year ago was 6.18%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.51%.
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Advisors Mortgage Group, L.L.C. | 10 | 6.08% | $5,250 |
| GREENTREE MORTGAGE COMPANY, L.P. | 4 | 6.25% | $6,498 |
| NATION ONE MORTGAGE CORPORATION | 2 | 6.44% | $12,419 |
| Meridian Bank Corporation | 2 | 6.31% | $8,278 |
| TOTAL MORTGAGE SERVICES, LLC | 1 | 7.13% | $8,073 |
| AMERICAN FINANCIAL NETWORK, INC. | 1 | 6.13% | $6,416 |
| Presidential Bank, FSB | 1 | 7.00% | $7,306 |
| Republic Bank | 1 | 6.25% | $5,795 |
| SUCCESS MORTGAGE PARTNERS, INC. | 1 | 6.13% | $5,504 |
| CALIBER HOME LOANS, INC. | 1 | 5.63% | $3,764 |
The top Atlantic City USDA lender as defined by loan originations is Advisors Mortgage Group, L.L.C., with
10 USDA loans originated. Their average total fees are
$5,250, which is $1,248
lower than the next largest lender,
GREENTREE MORTGAGE COMPANY, L.P..
The lowest fee Atlantic City USDA lenders (with over 10 loans originated) are
Advisors Mortgage Group, L.L.C. ($5,250), .
The lowest rate Atlantic City USDA lenders (with over 10 loans originated) are
Advisors Mortgage Group, L.L.C. (6.08%), .
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%) | $402,492 (9.7%) | 0.85 | 2,453 |
| 2018-02-01 | $229,900 (3.4%) | $406,646 (9.7%) | 0.83 | 2,489 |
| 2018-03-01 | $230,000 (1.3%) | $406,980 (6.3%) | 0.81 | 2,591 |
| 2018-04-01 | $234,900 (2.6%) | $408,403 (5.3%) | 0.80 | 2,603 |
| 2018-05-01 | $239,900 (3.2%) | $414,991 (6.4%) | 0.80 | 2,614 |
| 2018-06-01 | $244,900 (4.2%) | $419,994 (6.5%) | 0.82 | 2,596 |
| 2018-07-01 | $248,225 (4.3%) | $425,032 (8.6%) | 0.83 | 2,545 |
| 2018-08-01 | $249,000 (4.2%) | $425,498 (8.5%) | 0.83 | 2,523 |
| 2018-09-01 | $249,900 (4.2%) | $425,840 (5.5%) | 0.84 | 2,499 |
| 2018-10-01 | $249,450 (4.0%) | $418,731 (3.3%) | 0.84 | 2,475 |
| 2018-11-01 | $245,900 (2.9%) | $414,921 (2.9%) | 0.83 | 2,447 |
| 2018-12-01 | $244,900 (4.3%) | $412,550 (3.1%) | 0.84 | 2,411 |
| 2019-01-01 | $244,450 (6.3%) | $412,337 (2.5%) | 0.84 | 2,290 |
| 2019-02-01 | $245,000 (6.6%) | $420,656 (3.5%) | 0.83 | 2,381 |
| 2019-03-01 | $251,943 (9.5%) | $448,447 (10.2%) | 0.82 | 2,483 |
| 2019-04-01 | $260,750 (11.0%) | $481,933 (18.0%) | 0.83 | 2,512 |
| 2019-05-01 | $260,500 (8.6%) | $434,864 (4.8%) | 0.81 | 2,576 |
| 2019-06-01 | $259,000 (5.8%) | $429,431 (2.3%) | 0.81 | 2,594 |
| 2019-07-01 | $258,238 (4.0%) | $427,480 (0.6%) | 0.81 | 2,593 |
| 2019-08-01 | $249,727 (0.3%) | $421,877 (-0.9%) | 0.79 | 2,576 |
| 2019-09-01 | $249,318 (-0.2%) | $415,853 (-2.4%) | 0.80 | 2,529 |
| 2019-10-01 | $249,045 (-0.2%) | $410,806 (-1.9%) | 0.80 | 2,488 |
| 2019-11-01 | $249,900 (1.6%) | $406,981 (-1.9%) | 0.82 | 2,361 |
| 2019-12-01 | $248,625 (1.5%) | $398,634 (-3.4%) | 0.83 | 2,238 |
| 2020-01-01 | $247,000 (1.0%) | $399,589 (-3.1%) | 0.83 | 2,115 |
| 2020-02-01 | $249,000 (1.6%) | $404,799 (-3.8%) | 0.82 | 2,119 |
| 2020-03-01 | $249,900 (-0.8%) | $414,010 (-7.7%) | 0.78 | 2,190 |
| 2020-04-01 | $249,900 (-4.2%) | $412,880 (-14.3%) | 0.78 | 2,143 |
| 2020-05-01 | $249,900 (-4.1%) | $412,459 (-5.2%) | 0.76 | 2,086 |
| 2020-06-01 | $249,000 (-3.9%) | $414,922 (-3.4%) | 0.73 | 1,905 |
| 2020-07-01 | $249,700 (-3.3%) | $426,311 (-0.3%) | 0.72 | 1,715 |
| 2020-08-01 | $249,500 (-0.1%) | $424,998 (0.7%) | 0.71 | 1,564 |
| 2020-09-01 | $250,000 (0.3%) | $432,432 (4.0%) | 0.72 | 1,528 |
| 2020-10-01 | $249,900 (0.3%) | $433,378 (5.5%) | 0.72 | 1,528 |
| 2020-11-01 | $249,900 (0.0%) | $442,511 (8.7%) | 0.73 | 1,525 |
| 2020-12-01 | $247,750 (-0.4%) | $429,836 (7.8%) | 0.74 | 1,493 |
| 2021-01-01 | $239,900 (-2.9%) | $423,689 (6.0%) | 0.72 | 1,294 |
| 2021-02-01 | $239,900 (-3.7%) | $438,429 (8.3%) | 0.70 | 1,161 |
| 2021-03-01 | $239,950 (-4.0%) | $444,573 (7.4%) | 0.68 | 1,084 |
| 2021-04-01 | $249,450 (-0.2%) | $463,558 (12.3%) | 0.68 | 1,064 |
| 2021-05-01 | $269,900 (8.0%) | $474,776 (15.1%) | 0.72 | 1,079 |
| 2021-06-01 | $269,900 (8.4%) | $467,187 (12.6%) | 0.71 | 1,112 |
| 2021-07-01 | $277,500 (11.1%) | $455,260 (6.8%) | 0.73 | 1,259 |
| 2021-08-01 | $282,450 (13.2%) | $454,887 (7.0%) | 0.75 | 1,313 |
| 2021-09-01 | $289,000 (15.6%) | $448,561 (3.7%) | 0.77 | 1,289 |
| 2021-10-01 | $297,950 (19.2%) | $456,631 (5.4%) | 0.79 | 1,188 |
| 2021-11-01 | $291,725 (16.7%) | $446,731 (1.0%) | 0.78 | 1,101 |
| 2021-12-01 | $288,000 (16.3%) | $454,046 (5.6%) | 0.78 | 1,001 |
| 2022-01-01 | $295,000 (23.0%) | $454,540 (7.3%) | 0.80 | 865 |
| 2022-02-01 | $287,000 (19.6%) | $467,882 (6.7%) | 0.75 | 772 |
| 2022-03-01 | $279,250 (16.4%) | $487,819 (9.7%) | 0.70 | 774 |
| 2022-04-01 | $299,000 (19.9%) | $515,956 (11.3%) | 0.71 | 797 |
| 2022-05-01 | $329,288 (22.0%) | $548,532 (15.5%) | 0.75 | 897 |
| 2022-06-01 | $329,450 (22.1%) | $559,180 (19.7%) | 0.73 | 983 |
| 2022-07-01 | $329,700 (18.8%) | $547,193 (20.2%) | 0.74 | 1,114 |
| 2022-08-01 | $325,000 (15.1%) | $555,510 (22.1%) | 0.75 | 1,109 |
| 2022-09-01 | $325,000 (12.5%) | $548,294 (22.2%) | 0.76 | 1,047 |
| 2022-10-01 | $329,900 (10.7%) | $565,509 (23.8%) | 0.78 | 1,040 |
| 2022-11-01 | $333,450 (14.3%) | $574,247 (28.5%) | 0.80 | 1,045 |
| 2022-12-01 | $330,000 (14.6%) | $584,388 (28.7%) | 0.81 | 931 |
| 2023-01-01 | $338,950 (14.9%) | $595,391 (31.0%) | 0.84 | 858 |
| 2023-02-01 | $344,450 (20.0%) | $630,571 (34.8%) | 0.83 | 819 |
| 2023-03-01 | $349,900 (25.3%) | $621,566 (27.4%) | 0.83 | 802 |
| 2023-04-01 | $369,900 (23.7%) | $685,307 (32.8%) | 0.86 | 770 |
| 2023-05-01 | $381,000 (15.7%) | $707,206 (28.9%) | 0.86 | 746 |
| 2023-06-01 | $392,450 (19.1%) | $710,963 (27.1%) | 0.88 | 769 |
| 2023-07-01 | $394,900 (19.8%) | $703,810 (28.6%) | 0.90 | 771 |
| 2023-08-01 | $399,000 (22.8%) | $703,404 (26.6%) | 0.92 | 779 |
| 2023-09-01 | $400,000 (23.1%) | $676,860 (23.5%) | 0.93 | 796 |
| 2023-10-01 | $414,850 (25.8%) | $668,742 (18.3%) | 0.98 | 823 |
| 2023-11-01 | $401,175 (20.3%) | $687,322 (19.7%) | 0.96 | 862 |
| 2023-12-01 | $399,000 (20.9%) | $677,421 (15.9%) | 0.97 | 834 |
| 2024-01-01 | $399,000 (17.7%) | $684,996 (15.1%) | 0.97 | 821 |
| 2024-02-01 | $397,000 (15.3%) | $689,926 (9.4%) | 0.96 | 841 |
| 2024-03-01 | $383,000 (9.5%) | $697,536 (12.2%) | 0.90 | 850 |
Atlantic City's median listing price comes in at 90% of the national average.
Atlantic City's average listing price for 2024-03-01 was $697,536, a difference of $75,970 (12.2%) versus the prior year and $7,610 versus the prior month.
For the 2024-03-01 period, Atlantic City had 850 MLS listings, a difference of 9 listings (1%) versus the prior month and 48 listings (6%) 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 | 96 days | 1,680 sqft |
| 2018-02-01 | 91 days | 1,680 sqft |
| 2018-03-01 | 70 days | 1,668 sqft |
| 2018-04-01 | 66 days | 1,709 sqft |
| 2018-05-01 | 71 days | 1,728 sqft |
| 2018-06-01 | 75 days | 1,748 sqft |
| 2018-07-01 | 82 days | 1,743 sqft |
| 2018-08-01 | 81 days | 1,749 sqft |
| 2018-09-01 | 78 days | 1,768 sqft |
| 2018-10-01 | 78 days | 1,743 sqft |
| 2018-11-01 | 79 days | 1,704 sqft |
| 2018-12-01 | 87 days | 1,682 sqft |
| 2019-01-01 | 92 days | 1,685 sqft |
| 2019-02-01 | 84 days | 1,660 sqft |
| 2019-03-01 | 74 days | 1,687 sqft |
| 2019-04-01 | 67 days | 1,701 sqft |
| 2019-05-01 | 67 days | 1,715 sqft |
| 2019-06-01 | 70 days | 1,711 sqft |
| 2019-07-01 | 75 days | 1,721 sqft |
| 2019-08-01 | 78 days | 1,712 sqft |
| 2019-09-01 | 80 days | 1,701 sqft |
| 2019-10-01 | 81 days | 1,688 sqft |
| 2019-11-01 | 87 days | 1,680 sqft |
| 2019-12-01 | 92 days | 1,640 sqft |
| 2020-01-01 | 93 days | 1,623 sqft |
| 2020-02-01 | 82 days | 1,611 sqft |
| 2020-03-01 | 66 days | 1,635 sqft |
| 2020-04-01 | 76 days | 1,610 sqft |
| 2020-05-01 | 88 days | 1,629 sqft |
| 2020-06-01 | 100 days | 1,610 sqft |
| 2020-07-01 | 84 days | 1,621 sqft |
| 2020-08-01 | 62 days | 1,588 sqft |
| 2020-09-01 | 52 days | 1,551 sqft |
| 2020-10-01 | 52 days | 1,550 sqft |
| 2020-11-01 | 60 days | 1,551 sqft |
| 2020-12-01 | 73 days | 1,519 sqft |
| 2021-01-01 | 81 days | 1,454 sqft |
| 2021-02-01 | 75 days | 1,433 sqft |
| 2021-03-01 | 62 days | 1,439 sqft |
| 2021-04-01 | 50 days | 1,442 sqft |
| 2021-05-01 | 49 days | 1,501 sqft |
| 2021-06-01 | 48 days | 1,508 sqft |
| 2021-07-01 | 45 days | 1,554 sqft |
| 2021-08-01 | 49 days | 1,567 sqft |
| 2021-09-01 | 55 days | 1,578 sqft |
| 2021-10-01 | 59 days | 1,572 sqft |
| 2021-11-01 | 57 days | 1,553 sqft |
| 2021-12-01 | 66 days | 1,573 sqft |
| 2022-01-01 | 76 days | 1,562 sqft |
| 2022-02-01 | 66 days | 1,495 sqft |
| 2022-03-01 | 43 days | 1,493 sqft |
| 2022-04-01 | 42 days | 1,506 sqft |
| 2022-05-01 | 40 days | 1,580 sqft |
| 2022-06-01 | 42 days | 1,577 sqft |
| 2022-07-01 | 45 days | 1,600 sqft |
| 2022-08-01 | 53 days | 1,549 sqft |
| 2022-09-01 | 64 days | 1,564 sqft |
| 2022-10-01 | 60 days | 1,576 sqft |
| 2022-11-01 | 65 days | 1,565 sqft |
| 2022-12-01 | 74 days | 1,567 sqft |
| 2023-01-01 | 80 days | 1,562 sqft |
| 2023-02-01 | 66 days | 1,568 sqft |
| 2023-03-01 | 51 days | 1,557 sqft |
| 2023-04-01 | 50 days | 1,554 sqft |
| 2023-05-01 | 51 days | 1,590 sqft |
| 2023-06-01 | 47 days | 1,639 sqft |
| 2023-07-01 | 46 days | 1,612 sqft |
| 2023-08-01 | 50 days | 1,650 sqft |
| 2023-09-01 | 48 days | 1,600 sqft |
| 2023-10-01 | 49 days | 1,607 sqft |
| 2023-11-01 | 48 days | 1,579 sqft |
| 2023-12-01 | 58 days | 1,526 sqft |
| 2024-01-01 | 68 days | 1,500 sqft |
| 2024-02-01 | 58 days | 1,500 sqft |
| 2024-03-01 | 52 days | 1,457 sqft |
Atlantic City's median square footage for active listings during the 2024-03-01 period was 1,457 sqft. One year prior, the average listing was 1,557 sqft.