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 6.84% for the week of 2024-06-07, compared to the national average (all USDA variants) of 6.699% for the same period.

Atlantic City's average USDA mortgage closing costs are $5,337.

The average rate for the prior week (2024-05-31) was 6.82% and one month ago for the week of 2024-05-03, the average rate was 6.81%.

The average rate one year ago was 6.71%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.95%.

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 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
2024-04-01 $399,000 (7.9%) $726,147 (6.0%) 0.93 869
2024-05-01 $397,000 (4.2%) $767,739 (8.6%) 0.90 878
Atlantic City's median listing price for 2024-05-01 was $397,000, a difference of $16,000 (4.2%) versus the prior year and $-2,000 versus the prior month.

Atlantic City's median listing price comes in at 90% of the national average.

Atlantic City's average listing price for 2024-05-01 was $767,739, a difference of $60,533 (8.6%) versus the prior year and $41,592 versus the prior month.

For the 2024-05-01 period, Atlantic City had 878 MLS listings, a difference of 9 listings (1%) versus the prior month and 132 listings (18%) 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
2024-04-01 55 days 1,498 sqft
2024-05-01 47 days 1,485 sqft
Atlantic City's median listing age (time on market) for 2024-05-01 was 47 days. This is -6% shorter than the same period one year ago.

Atlantic City's median square footage for active listings during the 2024-05-01 period was 1,485 sqft. One year prior, the average listing was 1,590 sqft.