Atlantic City USDA Loan Rates, Closing Costs & Stats

ATLANTIC CITY-HAMMONTON, NJ

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    • 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.