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 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 7.03% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.86% and one month ago for the week of 2024-03-15, the average rate was 6.82%.

    The average rate one year ago was 6.51%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.24%.

    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
    Atlantic City's median listing price for 2024-03-01 was $383,000, a difference of $33,100 (9.5%) versus the prior year and $-14,000 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 2024-03-01 was $697,536, a difference of $75,970 (12.2%) versus the prior year and $7,610 versus the prior month.

    For the 2024-03-01 period, Atlantic City had 850 MLS listings, a difference of 9 listings (1%) versus the prior month and 48 listings (6%) 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
    Atlantic City's median listing age (time on market) for 2024-03-01 was 52 days. This is 1% longer than the same period one year ago.

    Atlantic City's median square footage for active listings during the 2024-03-01 period was 1,457 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.