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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.