Atlantic City USDA Loans

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 5.52% for the week of 2022-08-05, compared to the national average (all USDA variants) of 5.294% for the same period.

    The average rate for the prior week (2022-07-29) was 5.45% and one month ago for the week of 2022-07-01, the average rate was 5.58%.

    The average rate one year ago was 3.26%.

    For refis of the same type during the week of 2022-08-05, the average rate was 5.36%.

    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 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. Total Fees
    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 $229,950 (2.3%) $403,847 (10.2%) 0.85 2,608
    2018-02-01 $234,150 (4.1%) $409,199 (10.4%) 0.84 2,645
    2018-03-01 $235,000 (2.6%) $410,281 (7.7%) 0.81 2,742
    2018-04-01 $239,900 (4.4%) $410,506 (6.5%) 0.81 2,757
    2018-05-01 $244,950 (3.8%) $417,946 (7.3%) 0.82 2,766
    2018-06-01 $246,000 (3.0%) $421,746 (7.3%) 0.82 2,764
    2018-07-01 $249,000 (4.2%) $427,732 (9.0%) 0.83 2,712
    2018-08-01 $249,000 (4.0%) $424,887 (9.5%) 0.83 2,719
    2018-09-01 $249,900 (4.1%) $424,215 (5.9%) 0.84 2,682
    2018-10-01 $249,900 (3.1%) $420,603 (3.8%) 0.84 2,655
    2018-11-01 $249,900 (4.4%) $417,762 (4.1%) 0.84 2,626
    2018-12-01 $249,000 (6.0%) $414,645 (3.5%) 0.85 2,588
    2019-01-01 $246,250 (7.1%) $412,214 (2.1%) 0.85 2,440
    2019-02-01 $247,700 (5.8%) $422,348 (3.2%) 0.83 2,543
    2019-03-01 $256,943 (9.3%) $465,823 (13.5%) 0.84 2,658
    2019-04-01 $269,000 (12.1%) $524,353 (27.7%) 0.85 2,725
    2019-05-01 $269,000 (9.8%) $436,601 (4.5%) 0.83 2,793
    2019-06-01 $260,000 (5.7%) $429,865 (1.9%) 0.80 2,817
    2019-07-01 $259,950 (4.4%) $427,984 (0.1%) 0.81 2,807
    2019-08-01 $255,614 (2.7%) $416,908 (-1.9%) 0.80 2,978
    2019-09-01 $249,900 (0.0%) $404,760 (-4.6%) 0.79 3,047
    2019-10-01 $249,900 (0.0%) $410,925 (-2.3%) 0.80 2,690
    2019-11-01 $250,000 (0.0%) $409,573 (-2.0%) 0.81 2,550
    2019-12-01 $249,900 (0.4%) $404,652 (-2.4%) 0.83 2,423
    2020-01-01 $249,900 (1.5%) $408,432 (-0.9%) 0.83 2,282
    2020-02-01 $249,900 (0.9%) $409,682 (-3.0%) 0.81 2,309
    2020-03-01 $255,700 (-0.5%) $425,202 (-8.7%) 0.80 2,380
    2020-04-01 $250,000 (-7.1%) $424,299 (-19.1%) 0.78 2,327
    2020-05-01 $252,900 (-6.0%) $423,571 (-3.0%) 0.77 2,277
    2020-06-01 $250,000 (-3.9%) $423,211 (-1.6%) 0.73 2,066
    2020-07-01 $252,450 (-2.9%) $438,423 (2.4%) 0.72 1,868
    2020-08-01 $254,900 (-0.3%) $443,974 (6.5%) 0.73 1,689
    2020-09-01 $256,950 (2.8%) $434,600 (7.4%) 0.73 1,636
    2020-10-01 $254,900 (2.0%) $443,702 (8.0%) 0.73 1,678
    2020-11-01 $256,950 (2.8%) $445,013 (8.7%) 0.74 1,682
    2020-12-01 $249,900 (0.0%) $434,008 (7.3%) 0.73 1,644
    2021-01-01 $249,000 (-0.4%) $425,401 (4.2%) 0.73 1,427
    2021-02-01 $249,450 (-0.2%) $442,924 (8.1%) 0.72 1,262
    2021-03-01 $245,950 (-3.8%) $449,946 (5.8%) 0.69 1,174
    2021-04-01 $252,500 (1.0%) $471,426 (11.1%) 0.68 1,139
    2021-05-01 $279,900 (10.7%) $485,648 (14.7%) 0.74 1,152
    2021-06-01 $279,900 (12.0%) $472,231 (11.6%) 0.73 1,196
    2021-07-01 $282,875 (12.1%) $463,992 (5.8%) 0.73 1,320
    2021-08-01 $290,750 (14.1%) $461,820 (4.0%) 0.76 1,442
    2021-09-01 $299,000 (16.4%) $451,588 (3.9%) 0.79 1,421
    2021-10-01 $299,900 (17.7%) $452,070 (1.9%) 0.79 1,305
    2021-11-01 $299,000 (16.4%) $444,653 (-0.1%) 0.79 1,216
    2021-12-01 $298,200 (19.3%) $449,669 (3.6%) 0.80 1,105
    2022-01-01 $299,000 (20.1%) $453,508 (6.6%) 0.80 944
    2022-02-01 $296,450 (18.8%) $468,104 (5.7%) 0.76 840
    2022-03-01 $287,450 (16.9%) $496,377 (10.3%) 0.71 840
    2022-04-01 $300,000 (18.8%) $527,699 (11.9%) 0.71 869
    2022-05-01 $337,000 (20.4%) $540,498 (11.3%) 0.75 992
    2022-06-01 $334,950 (19.7%) $550,623 (16.6%) 0.74 1,085
    Atlantic City's median listing price for 2022-06-01 was $334,950, a difference of $55,050 (19.7%) versus the prior year and $-2,050 versus the prior month.

    Atlantic City's median listing price comes in at 74% of the national average.

    Atlantic City's average listing price for 2022-06-01 was $550,623, a difference of $78,392 (16.6%) versus the prior year and $10,125 versus the prior month.

    For the 2022-06-01 period, Atlantic City had 1,085 MLS listings, a difference of 93 listings (9%) versus the prior month and -111 listings (-9%) 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
    2018-01-01 108 days 1,784 sqft
    2018-02-01 103 days 1,786 sqft
    2018-03-01 84 days 1,784 sqft
    2018-04-01 75 days 1,800 sqft
    2018-05-01 79 days 1,820 sqft
    2018-06-01 84 days 1,844 sqft
    2018-07-01 91 days 1,843 sqft
    2018-08-01 89 days 1,841 sqft
    2018-09-01 87 days 1,853 sqft
    2018-10-01 87 days 1,844 sqft
    2018-11-01 89 days 1,803 sqft
    2018-12-01 95 days 1,764 sqft
    2019-01-01 100 days 1,765 sqft
    2019-02-01 95 days 1,760 sqft
    2019-03-01 72 days 1,763 sqft
    2019-04-01 70 days 1,771 sqft
    2019-05-01 72 days 1,797 sqft
    2019-06-01 74 days 1,783 sqft
    2019-07-01 80 days 1,791 sqft
    2019-08-01 85 days 1,774 sqft
    2019-09-01 87 days 1,732 sqft
    2019-10-01 86 days 1,781 sqft
    2019-11-01 92 days 1,786 sqft
    2019-12-01 96 days 1,762 sqft
    2020-01-01 99 days 1,753 sqft
    2020-02-01 89 days 1,750 sqft
    2020-03-01 70 days 1,774 sqft
    2020-04-01 79 days 1,745 sqft
    2020-05-01 91 days 1,748 sqft
    2020-06-01 105 days 1,746 sqft
    2020-07-01 99 days 1,744 sqft
    2020-08-01 66 days 1,700 sqft
    2020-09-01 56 days 1,698 sqft
    2020-10-01 53 days 1,700 sqft
    2020-11-01 59 days 1,679 sqft
    2020-12-01 72 days 1,601 sqft
    2021-01-01 83 days 1,560 sqft
    2021-02-01 81 days 1,521 sqft
    2021-03-01 71 days 1,513 sqft
    2021-04-01 56 days 1,502 sqft
    2021-05-01 52 days 1,598 sqft
    2021-06-01 51 days 1,583 sqft
    2021-07-01 49 days 1,600 sqft
    2021-08-01 49 days 1,628 sqft
    2021-09-01 56 days 1,648 sqft
    2021-10-01 62 days 1,632 sqft
    2021-11-01 62 days 1,625 sqft
    2021-12-01 69 days 1,635 sqft
    2022-01-01 78 days 1,650 sqft
    2022-02-01 71 days 1,564 sqft
    2022-03-01 46 days 1,568 sqft
    2022-04-01 43 days 1,617 sqft
    2022-05-01 40 days 1,662 sqft
    2022-06-01 42 days 1,645 sqft
    Atlantic City's median listing age (time on market) for 2022-06-01 was 42 days. This is -18% shorter than the same period one year ago.

    Atlantic City's median square footage for active listings during the 2022-06-01 period was 1,645 sqft. One year prior, the average listing was 1,583 sqft.