Atlantic City VA Loan Rates, Closing Costs & Stats

ATLANTIC CITY-HAMMONTON, NJ

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Atlantic City's 56 lenders originated 206 VA loans during 2023. The total origination value was $65,180,000, with an average VA loan value of $316,408.

Atlantic City VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Atlantic City averaged 6.57% for the week of 2024-05-17, compared to the national average (all VA variants) of 6.502% for the same period.

Atlantic City's average VA mortgage closing costs are $6,764.

The average rate for the prior week (2024-05-10) was 6.88% and one month ago for the week of 2024-04-12, the average rate was 6.86%.

The average rate one year ago was 6.37%.

For refis of the same type during the week of 2024-05-17, the average rate was 7.38%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Atlantic City VA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for VA 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
Mortgage Research Center, LLC 27 6.66% $9,869
QUICKEN LOANS, LLC 13 6.24% $12,300
GREENTREE MORTGAGE COMPANY, L.P. 13 6.36% $9,575
Advisors Mortgage Group, L.L.C. 12 6.76% $8,093
NAVY FEDERAL CREDIT UNION 10 5.99% $7,942
NATION ONE MORTGAGE CORPORATION 9 6.90% $10,838
UNITED WHOLESALE MORTGAGE, LLC 7 6.16% $13,207
CROSSCOUNTRY MORTGAGE, LLC 7 6.68% $11,016
UNION HOME MORTGAGE CORP. 6 6.75% $11,082
The Federal Savings Bank 5 5.90% $14,759
LOANDEPOT.COM, LLC 5 6.22% $10,806
Prosperity Home Mortgage, LLC 4 5.75% $10,420
DHI MORTGAGE COMPANY, LTD. 4 6.34% $9,705
NEWREZ LLC 4 6.59% $10,427
PINNACLE MORTGAGE, INC. 3 6.58% $6,932
AMERICAN FINANCIAL NETWORK, INC. 3 6.50% $11,622
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.50% $8,897
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.54% $15,787
GUARANTEED RATE, INC. 3 6.03% $10,231
Mr. Cooper ( Nationstar Mortgage ) 3 6.13% $21,828
NFM, INC. 3 5.67% $19,269
SUCCESS MORTGAGE PARTNERS, INC. 2 6.56% $9,116
MUTUAL OF OMAHA MORTGAGE, INC. 2 6.56% $20,963
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.88% $9,258
Wells Fargo Bank 2 6.06% $523
USAA Federal Savings Bank 2 5.69% $30,448
MLD MORTGAGE INC. 2 5.31% $5,584
Citizens Bank 2 6.31% $4,089
VILLAGE CAPITAL MORTGAGE 2 6.13% $16,859
NEW DAY FINANCIAL, LLC 2 7.31% $13,078
CARDINAL FINANCIAL 1 6.25% $17,575
Northpointe Bank 1 7.25% $9,634
Paramount Residential Mortgage Group, Inc. 1 7.25% $17,719
PENNYMAC LOAN SERVICES, LLC 1 6.88% $10,661
PENTAGON FEDERAL CREDIT UNION 1 6.13% $4,145
ACADEMY MORTGAGE CORPORATION 1 6.38% $4,424
PLANET HOME LENDING, LLC 1 5.50% $2,049
PLAZA HOME MORTGAGE, INC. 1 6.25% $17,019
BROKER SOLUTIONS, INC. 1 6.99% $12,007
Barrington Bank & Trust Company, N.A. 1 6.25% $22,859
RESIDENTIAL HOME FUNDING CORP. 1 6.13% $19,066
Armed Forces Bank 1 5.25% $5,147
ALLIED MORTGAGE GROUP, INC. 1 6.25% $4,737
U.S. Bank 1 6.75% $4,925
FREEDOM MORTGAGE CORPORATION 1 6.75% $10,414
Gateway First Bank 1 5.75% $15,170
VERITAS FUNDING, LLC 1 7.13% $26,309
FBC MORTGAGE, LLC 1 5.75% $5,058
HOMESTEAD FUNDING CORP. 1 6.25% $11,174
Keystone Funding, Inc. 1 6.75% $10,589
EMM LOANS LLC 1 6.25% $8,795
Meridian Bank Corporation 1 6.00% $3,858
DRAPER AND KRAMER MORTGAGE CORP. 1 6.63% $3,447
MOVEMENT MORTGAGE, LLC 1 7.25% $3,767
Credence Funding Corporation 1 5.75% $5,816
NBKC BANK 1 5.63% $4,760

The top Atlantic City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 27 VA loans originated. Their average total fees are $9,869, which is $2,431 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Atlantic City VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($7,942), Advisors Mortgage Group, L.L.C. ($8,093), GREENTREE MORTGAGE COMPANY, L.P. ($9,575), Mortgage Research Center, LLC ($9,869) and QUICKEN LOANS, LLC ($12,300).

The lowest rate Atlantic City VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.99%), QUICKEN LOANS, LLC (6.24%), GREENTREE MORTGAGE COMPANY, L.P. (6.36%), Mortgage Research Center, LLC (6.66%) and Advisors Mortgage Group, L.L.C. (6.76%).


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
Atlantic City's median listing price for 2024-04-01 was $399,000, a difference of $29,100 (7.9%) versus the prior year and $16,000 versus the prior month.

Atlantic City's median listing price comes in at 93% of the national average.

Atlantic City's average listing price for 2024-04-01 was $726,147, a difference of $40,840 (6.0%) versus the prior year and $28,611 versus the prior month.

For the 2024-04-01 period, Atlantic City had 869 MLS listings, a difference of 19 listings (2%) versus the prior month and 99 listings (13%) 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
Atlantic City's median listing age (time on market) for 2024-04-01 was 55 days. This is 9% longer than the same period one year ago.

Atlantic City's median square footage for active listings during the 2024-04-01 period was 1,498 sqft. One year prior, the average listing was 1,554 sqft.

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.