Atlantic City VA Loan Rates, Closing Costs & Stats

ATLANTIC CITY-HAMMONTON, NJ

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    • 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 67 lenders originated 314 VA loans during 2022. The total origination value was $94,050,000, with an average VA loan value of $299,522.

    Atlantic City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Atlantic City averaged 5.98% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Atlantic City's average VA mortgage closing costs are $6,362.

    The average rate for the prior week (2023-05-19) was 6.1% and one month ago for the week of 2023-04-21, the average rate was 6.12%.

    The average rate one year ago was 4.69%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.44%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 54 4.68% $8,810
    QUICKEN LOANS, LLC 23 4.17% $13,230
    GREENTREE MORTGAGE COMPANY, L.P. 21 5.36% $9,026
    CALIBER HOME LOANS, INC. 18 4.07% $9,185
    CROSSCOUNTRY MORTGAGE, LLC 12 4.70% $10,205
    USAA Federal Savings Bank 11 4.38% $9,435
    NAVY FEDERAL CREDIT UNION 10 3.90% $6,150
    LOANDEPOT.COM, LLC 9 3.26% $6,128
    NATION ONE MORTGAGE CORPORATION 7 5.38% $11,342
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 4.70% $9,959
    UNITED WHOLESALE MORTGAGE, LLC 6 4.29% $11,101
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 4.38% $4,297
    DRAPER AND KRAMER MORTGAGE CORP. 5 4.83% $9,475
    NEW DAY FINANCIAL, LLC 5 3.69% $12,371
    UNION HOME MORTGAGE CORP. 5 4.73% $7,380
    NFM, INC. 5 4.73% $9,096
    PENNYMAC LOAN SERVICES, LLC 5 3.55% $9,608
    FINANCE OF AMERICA MORTGAGE LLC 5 3.72% $10,095
    FREEDOM MORTGAGE CORPORATION 5 4.35% $15,704
    Paramount Residential Mortgage Group, Inc. 4 3.97% $15,981
    PENTAGON FEDERAL CREDIT UNION 4 3.41% $11,791
    Flagstar Bank, FSB 4 3.85% $14,992
    EMM LOANS LLC 3 5.00% $11,647
    Nations Lending Corporation 3 4.29% $12,351
    NETWORK CAPITAL FUNDING CORPORATION 3 3.88% $12,466
    PLANET HOME LENDING, LLC 3 3.96% $9,679
    Gateway First Bank 3 5.38% $7,527
    CARDINAL FINANCIAL 3 4.79% $17,625
    MLD MORTGAGE INC. 3 5.63% $2,443
    DHI MORTGAGE COMPANY, LTD. 3 4.08% $9,526
    Mr. Cooper ( Nationstar Mortgage ) 2 6.50% $14,114
    GUARANTEED RATE, INC. 2 4.54% $5,534
    Carrington Mortgage Services, LLC 2 4.25% $7,509
    Republic Bank 2 4.19% $12,689
    Advisors Mortgage Group, L.L.C. 2 5.44% $9,587
    ENVOY MORTGAGE, LTD 2 4.44% $5,146
    Prosperity Home Mortgage, LLC 2 3.50% $6,430
    MOVEMENT MORTGAGE, LLC 2 4.19% $9,443
    ALLIED MORTGAGE GROUP, INC. 2 4.44% $10,565
    Armed Forces Bank 2 4.44% $8,055
    AMERISAVE MORTGAGE CORPORATION 2 3.56% $10,825
    Wyndham Capital Mortgage, Inc. 1 3.75% $2,553
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 4.99% $13,467
    Barrington Bank & Trust Company, N.A. 1 3.25% $12,613
    BROKER SOLUTIONS, INC. 1 5.49% $21,813
    DAS Acquisition Company, LLC 1 5.63% $10,022
    GUILD MORTGAGE COMPANY 1 3.63% $4,327
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 4.50% $18,631
    HOME POINT FINANCIAL CORPORATION 1 4.75% $15,254
    Hometown Lenders, Inc. 1 4.75% $8,698
    LADERA LENDING, INC. 1 3.00% $8,355
    LAKEVIEW LOAN SERVICING, LLC 1 3.25% $9,253
    Low VA Rates, LLC 1 4.25% $846
    MDE Home Loans, LLC 1 4.75% $132
    Mid-Continent Funding, Inc. 1 4.50% $9,694
    M&T Bank 1 5.25% $5,265
    MUTUAL OF OMAHA MORTGAGE, INC. 1 3.75% $16,290
    NEWREZ LLC 1 3.38% $25,818
    Philadelphia Mortgage Advisors, Inc. 1 3.88% $11,875
    RELIANCE FIRST CAPITAL, LLC 1 5.88% $5,225
    TD Bank 1 4.88% $1,628
    The Federal Savings Bank 1 4.75% $11,838
    TIDEWATER MORTGAGE SERVICES, INC. 1 3.75% $11,512
    TOWNE MORTGAGE COMPANY 1 3.38% $9,902
    US MORTGAGE CORPORATION 1 3.50% $10,697
    Wells Fargo Bank 1 2.50% $6,331
    Acre Mortgage and Financial Inc 1 4.88% $4,595

    The top Atlantic City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 54 VA loans originated. Their average total fees are $8,810, which is $4,420 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 ($6,150), Mortgage Research Center, LLC ($8,810), GREENTREE MORTGAGE COMPANY, L.P. ($9,026), CALIBER HOME LOANS, INC. ($9,185) and USAA Federal Savings Bank ($9,435).

    The lowest rate Atlantic City VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (3.90%), CALIBER HOME LOANS, INC. (4.07%), QUICKEN LOANS, LLC (4.17%), USAA Federal Savings Bank (4.38%) and Mortgage Research Center, LLC (4.68%).

    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%) 0.84 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 $249,900 (8.7%) $480,554 (18.4%) 0.83 2,461
    2019-04-01 $262,125 (11.6%) $483,380 (18.7%) 0.83 2,512
    2019-05-01 $261,850 (9.2%) $434,961 (5.1%) 0.82 2,576
    2019-06-01 $259,700 (6.0%) $429,605 (2.5%) 0.81 2,593
    2019-07-01 $258,363 (4.1%) $427,530 (0.8%) 0.81 2,594
    2019-08-01 $249,999 (0.4%) $422,481 (-0.5%) 0.78 2,745
    2019-09-01 $248,900 (-0.4%) $410,219 (-3.5%) 0.79 2,770
    2019-10-01 $248,725 (-0.3%) $410,806 (-1.7%) 0.80 2,488
    2019-11-01 $249,900 (1.6%) $406,837 (-1.7%) 0.82 2,361
    2019-12-01 $248,500 (1.5%) $398,579 (-3.1%) 0.83 2,237
    2020-01-01 $247,000 (1.0%) $399,595 (-2.8%) 0.83 2,114
    2020-02-01 $249,000 (1.6%) $404,743 (-3.5%) 0.82 2,117
    2020-03-01 $249,900 (0.0%) $414,093 (-13.8%) 0.78 2,189
    2020-04-01 $249,900 (-4.7%) $412,963 (-14.6%) 0.78 2,142
    2020-05-01 $249,900 (-4.6%) $412,544 (-5.2%) 0.76 2,085
    2020-06-01 $249,000 (-4.1%) $415,004 (-3.4%) 0.73 1,904
    2020-07-01 $249,508 (-3.4%) $426,406 (-0.3%) 0.72 1,714
    2020-08-01 $249,250 (-0.3%) $425,094 (0.6%) 0.71 1,563
    2020-09-01 $250,000 (0.4%) $432,534 (5.4%) 0.72 1,527
    2020-10-01 $249,900 (0.5%) $433,476 (5.5%) 0.72 1,527
    2020-11-01 $249,900 (0.0%) $442,298 (8.7%) 0.73 1,524
    2020-12-01 $247,500 (-0.4%) $429,830 (7.8%) 0.74 1,492
    2021-01-01 $239,900 (-2.9%) $423,522 (6.0%) 0.72 1,294
    2021-02-01 $239,900 (-3.7%) $438,677 (8.4%) 0.70 1,159
    2021-03-01 $239,925 (-4.0%) $444,527 (7.4%) 0.68 1,084
    2021-04-01 $249,450 (-0.2%) $463,571 (12.3%) 0.68 1,064
    2021-05-01 $269,900 (8.0%) $474,776 (15.1%) 0.72 1,079
    2021-06-01 $269,950 (8.4%) $467,359 (12.6%) 0.71 1,111
    2021-07-01 $278,250 (11.5%) $455,458 (6.8%) 0.73 1,257
    2021-08-01 $282,425 (13.3%) $454,587 (6.9%) 0.75 1,314
    2021-09-01 $289,000 (15.6%) $448,262 (3.6%) 0.77 1,288
    2021-10-01 $297,900 (19.2%) $456,477 (5.3%) 0.79 1,189
    2021-11-01 $291,725 (16.7%) $446,656 (1.0%) 0.78 1,101
    2021-12-01 $288,000 (16.4%) $454,046 (5.6%) 0.78 1,001
    2022-01-01 $294,950 (23.0%) $454,285 (7.3%) 0.80 866
    2022-02-01 $287,000 (19.6%) $467,772 (6.6%) 0.75 773
    2022-03-01 $277,250 (15.6%) $487,724 (9.7%) 0.69 774
    2022-04-01 $299,000 (19.9%) $515,956 (11.3%) 0.71 798
    2022-05-01 $329,288 (22.0%) $548,455 (15.5%) 0.75 898
    2022-06-01 $329,450 (22.0%) $559,021 (19.6%) 0.73 984
    2022-07-01 $329,900 (18.6%) $547,056 (20.1%) 0.75 1,115
    2022-08-01 $325,000 (15.1%) $555,363 (22.2%) 0.75 1,110
    2022-09-01 $325,000 (12.5%) $548,329 (22.3%) 0.76 1,048
    2022-10-01 $329,900 (10.7%) $565,351 (23.9%) 0.78 1,041
    2022-11-01 $333,450 (14.3%) $574,247 (28.6%) 0.80 1,045
    2022-12-01 $329,900 (14.6%) $584,433 (28.7%) 0.81 931
    2023-01-01 $338,194 (14.7%) $595,339 (31.1%) 0.84 858
    2023-02-01 $344,450 (20.0%) $630,617 (34.8%) 0.83 819
    2023-03-01 $349,675 (26.1%) $622,006 (27.5%) 0.82 802
    2023-04-01 $369,900 (23.7%) $685,307 (32.8%) 0.86 770
    Atlantic City's median listing price for 2023-04-01 was $369,900, a difference of $70,900 (23.7%) versus the prior year and $20,225 versus the prior month.

    Atlantic City's median listing price comes in at 86% of the national average.

    Atlantic City's average listing price for 2023-04-01 was $685,307, a difference of $169,351 (32.8%) versus the prior year and $63,301 versus the prior month.

    For the 2023-04-01 period, Atlantic City had 770 MLS listings, a difference of -32 listings (-4%) versus the prior month and -28 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 1,718 sqft
    2018-02-01 107 days 1,717 sqft
    2018-03-01 89 days 1,700 sqft
    2018-04-01 76 days 1,748 sqft
    2018-05-01 80 days 1,754 sqft
    2018-06-01 86 days 1,784 sqft
    2018-07-01 93 days 1,786 sqft
    2018-08-01 93 days 1,800 sqft
    2018-09-01 89 days 1,800 sqft
    2018-10-01 87 days 1,788 sqft
    2018-11-01 89 days 1,746 sqft
    2018-12-01 96 days 1,721 sqft
    2019-01-01 101 days 1,735 sqft
    2019-02-01 96 days 1,727 sqft
    2019-03-01 75 days 1,732 sqft
    2019-04-01 74 days 1,756 sqft
    2019-05-01 75 days 1,756 sqft
    2019-06-01 78 days 1,734 sqft
    2019-07-01 82 days 1,749 sqft
    2019-08-01 90 days 1,740 sqft
    2019-09-01 97 days 1,712 sqft
    2019-10-01 90 days 1,716 sqft
    2019-11-01 95 days 1,700 sqft
    2019-12-01 100 days 1,685 sqft
    2020-01-01 102 days 1,666 sqft
    2020-02-01 95 days 1,656 sqft
    2020-03-01 75 days 1,687 sqft
    2020-04-01 84 days 1,672 sqft
    2020-05-01 96 days 1,696 sqft
    2020-06-01 108 days 1,661 sqft
    2020-07-01 109 days 1,667 sqft
    2020-08-01 73 days 1,612 sqft
    2020-09-01 60 days 1,588 sqft
    2020-10-01 59 days 1,584 sqft
    2020-11-01 65 days 1,574 sqft
    2020-12-01 78 days 1,538 sqft
    2021-01-01 88 days 1,477 sqft
    2021-02-01 84 days 1,470 sqft
    2021-03-01 71 days 1,465 sqft
    2021-04-01 56 days 1,460 sqft
    2021-05-01 53 days 1,518 sqft
    2021-06-01 52 days 1,530 sqft
    2021-07-01 50 days 1,582 sqft
    2021-08-01 51 days 1,591 sqft
    2021-09-01 57 days 1,609 sqft
    2021-10-01 63 days 1,608 sqft
    2021-11-01 62 days 1,580 sqft
    2021-12-01 70 days 1,596 sqft
    2022-01-01 80 days 1,588 sqft
    2022-02-01 71 days 1,515 sqft
    2022-03-01 45 days 1,500 sqft
    2022-04-01 44 days 1,557 sqft
    2022-05-01 43 days 1,609 sqft
    2022-06-01 44 days 1,598 sqft
    2022-07-01 46 days 1,609 sqft
    2022-08-01 55 days 1,584 sqft
    2022-09-01 66 days 1,598 sqft
    2022-10-01 62 days 1,600 sqft
    2022-11-01 66 days 1,598 sqft
    2022-12-01 77 days 1,600 sqft
    2023-01-01 82 days 1,598 sqft
    2023-02-01 72 days 1,609 sqft
    2023-03-01 56 days 1,611 sqft
    2023-04-01 53 days 1,630 sqft
    Atlantic City's median listing age (time on market) for 2023-04-01 was 53 days. This is 20% longer than the same period one year ago.

    Atlantic City's median square footage for active listings during the 2023-04-01 period was 1,630 sqft. One year prior, the average listing was 1,557 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.