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 90 lenders originated 627 VA loans during 2021. The total origination value was $162,165,000, with an average VA loan value of $258,636.

Atlantic City VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Atlantic City averaged 0.25% for the week of 2022-11-25, compared to the national average (all VA variants) of 0% for the same period.

Atlantic City's average VA mortgage closing costs are $5,733.

The average rate for the prior week (2022-11-18) was 6.54% and one month ago for the week of 2022-10-21, the average rate was 7.09%.

The average rate one year ago was 3.57%.

For refis of the same type during the week of 2022-11-25, the average rate was 0.39%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Mortgage Research Center, LLC 80 2.94% $6,201
QUICKEN LOANS, LLC 49 2.50% $4,666
FREEDOM MORTGAGE CORPORATION 45 2.45% $2,540
GREENTREE MORTGAGE COMPANY, L.P. 32 2.83% $8,571
CALIBER HOME LOANS, INC. 26 2.59% $6,701
NEW DAY FINANCIAL, LLC 25 2.78% $7,131
USAA Federal Savings Bank 18 2.85% $4,597
UNION HOME MORTGAGE CORP. 13 2.80% $7,775
FINANCE OF AMERICA MORTGAGE LLC 12 2.92% $11,359
PENNYMAC LOAN SERVICES, LLC 11 2.27% $5,219
LOANDEPOT.COM, LLC 10 2.51% $5,899
CLEARPATH LENDING 10 2.35% $3,850
CROSSCOUNTRY MORTGAGE, LLC 10 2.80% $17,568
NAVY FEDERAL CREDIT UNION 10 2.46% $6,985
NATION ONE MORTGAGE CORPORATION 9 3.74% $9,451
Wells Fargo Bank 9 2.40% $5,751
The Federal Savings Bank 8 2.56% $7,241
LAKEVIEW LOAN SERVICING, LLC 7 2.59% $3,517
Citizens Bank 6 2.77% $9,434
PENTAGON FEDERAL CREDIT UNION 6 2.46% $3,995
ALLIED MORTGAGE GROUP, INC. 6 2.90% $7,305
UNITED WHOLESALE MORTGAGE, LLC 6 2.60% $8,223
Gateway First Bank 5 2.73% $9,025
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 3.38% $5,451
Low VA Rates, LLC 5 2.30% $3,718
MUTUAL OF OMAHA MORTGAGE, INC. 5 2.90% $6,173
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 5 2.93% $9,087
GUARANTEED RATE, INC. 4 2.81% $8,777
Mr. Cooper ( Nationstar Mortgage ) 4 2.72% $2,524
DHI MORTGAGE COMPANY, LTD. 4 2.81% $8,005
Barrington Bank & Trust Company, N.A. 4 2.88% $8,084
Paramount Residential Mortgage Group, Inc. 4 3.12% $9,823
VILLAGE CAPITAL MORTGAGE 4 2.63% $2,487
Equity Prime Mortgage LLC 3 3.04% $4,578
Advisors Mortgage Group, L.L.C. 3 3.00% $11,864
AMERICAN FINANCIAL NETWORK, INC. 3 2.29% $12,676
FAMILY FIRST FUNDING LLC 3 2.63% $5,854
InterContinental Capital Group, Inc 3 2.50% $4,316
Lakeview Community Capital, LLC 3 2.54% $2,002
MOVEMENT MORTGAGE, LLC 3 2.83% $7,190
Prosperity Home Mortgage, LLC 3 2.58% $6,165
MORTGAGE ACCESS CORP. 2 3.00% $4,085
NP, Inc. 2 2.25% $4,427
NVR Mortgage Finance, Inc. 2 2.81% $6,539
ABSOLUTE HOME MORTGAGE CORPORATION 2 3.20% $7,576
PANORAMA MORTGAGE GROUP, LLC 2 2.81% $11,194
EMM LOANS LLC 2 3.31% $14,917
CONTOUR MORTGAGE CORPORATION 2 2.81% $6,733
DRAPER AND KRAMER MORTGAGE CORP. 2 2.63% $2,614
BAYSHORE MORTGAGE FUNDING, LLC 2 2.81% $6,898
NBKC BANK 2 2.50% $3,087
NETWORK CAPITAL FUNDING CORPORATION 2 2.25% $4,466
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 3.13% $9,828
1st Colonial Community Bank 2 2.50% $11,394
HOME POINT FINANCIAL CORPORATION 2 2.38% $4,826
Wyndham Capital Mortgage, Inc. 2 2.56% $2,625
NEWREZ LLC 2 3.25% $7,677
KS StateBank 2 2.25% $5,890
PLANET HOME LENDING, LLC 1 2.25% $2,204
Princeton Mortgage Corporation 1 2.50% $4,876
Credence Funding Corporation 1 2.25% $2,950
Republic Bank 1 2.63% $8,750
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $12,644
SOVEREIGN LENDING GROUP INCORPORATED 1 2.75% $5,891
Strong Home Mortgage, LLC 1 2.50% $3,137
SUCCESS MORTGAGE PARTNERS, INC. 1 2.99% $6,792
TD Bank 1 2.88% $6,663
TOWNE MORTGAGE COMPANY 1 3.38% $6,653
UNITED MORTGAGE CORP. 1 3.25% $10,600
UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 2.38% $2,363
AMERISAVE MORTGAGE CORPORATION 1 4.75% $6,179
HOMESPIRE MORTGAGE CORPORATION 1 2.38% $6,222
HORIZON Federal Credit Union 1 3.50% $3,517
AmeriHome Mortgage Company, LLC 1 3.13% $2,363
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.25% $6,181
GLENDENNING MORTGAGE CORPORATION 1 2.50% $2,615
Flagstar Bank, FSB 1 2.30% $3,320
Magnolia Bank 1 2.88% $7,414
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 2.63% $5,520
Mid-Continent Funding, Inc. 1 2.50% $9,502
First Savings Bank 1 3.25% $8,321
West Town Bank & Trust 1 2.75% $13,109
First Home Bank 1 2.25% $11,042
First Guaranty Mortgage Corporation 1 2.25% $3,191
Financial Freedom Mortgage, LLC 1 3.13% $14,812
Nations Lending Corporation 1 3.25% $487
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.99% $7,188
NFM, INC. 1 2.50% $0
OCEANSIDE MORTGAGE COMPANY 1 2.49% $452
DAS Acquisition Company, LLC 1 2.63% $10,006

The top Atlantic City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 80 VA loans originated. Their average total fees are $6,201, which is $1,534 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Atlantic City VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,540), CLEARPATH LENDING ($3,850), USAA Federal Savings Bank ($4,597), QUICKEN LOANS, LLC ($4,666) and PENNYMAC LOAN SERVICES, LLC ($5,219).

The lowest rate Atlantic City VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (2.27%), CLEARPATH LENDING (2.35%), FREEDOM MORTGAGE CORPORATION (2.45%), NAVY FEDERAL CREDIT UNION (2.46%) and QUICKEN LOANS, LLC (2.50%).


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%) 0.83 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%) $424,861 (5.8%) 0.84 2,498
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%) $428,674 (2.3%) 0.81 2,602
2019-07-01 $257,000 (3.5%) $426,668 (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 (-2.3%) 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 (-3.4%) 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%) $465,481 (12.5%) 0.71 1,117
2021-07-01 $276,000 (10.7%) $453,917 (6.8%) 0.73 1,265
2021-08-01 $282,400 (13.4%) $453,073 (6.9%) 0.75 1,322
2021-09-01 $289,000 (15.6%) $446,706 (3.6%) 0.77 1,297
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%) $464,392 (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 $327,000 (21.2%) $544,942 (15.4%) 0.75 906
2022-06-01 $329,000 (22.1%) $555,844 (19.4%) 0.73 992
2022-07-01 $329,000 (19.2%) $544,192 (19.9%) 0.74 1,123
2022-08-01 $325,000 (15.1%) $552,192 (21.9%) 0.75 1,118
2022-09-01 $324,867 (12.4%) $545,241 (22.1%) 0.76 1,057
2022-10-01 $329,000 (11.6%) $562,250 (23.7%) 0.77 1,050
Atlantic City's median listing price for 2022-10-01 was $329,000, a difference of $34,100 (11.6%) versus the prior year and $4,133 versus the prior month.

Atlantic City's median listing price comes in at 77% of the national average.

Atlantic City's average listing price for 2022-10-01 was $562,250, a difference of $107,721 (23.7%) versus the prior year and $17,009 versus the prior month.

For the 2022-10-01 period, Atlantic City had 1,050 MLS listings, a difference of -7 listings (-1%) versus the prior month and -148 listings (-12%) 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 1,711 sqft
2018-02-01 107 days 1,707 sqft
2018-03-01 89 days 1,700 sqft
2018-04-01 76 days 1,740 sqft
2018-05-01 80 days 1,752 sqft
2018-06-01 86 days 1,781 sqft
2018-07-01 93 days 1,771 sqft
2018-08-01 93 days 1,792 sqft
2018-09-01 89 days 1,800 sqft
2018-10-01 87 days 1,775 sqft
2018-11-01 89 days 1,732 sqft
2018-12-01 96 days 1,709 sqft
2019-01-01 101 days 1,706 sqft
2019-02-01 96 days 1,700 sqft
2019-03-01 82 days 1,708 sqft
2019-04-01 73 days 1,715 sqft
2019-05-01 75 days 1,728 sqft
2019-06-01 78 days 1,723 sqft
2019-07-01 83 days 1,725 sqft
2019-08-01 85 days 1,721 sqft
2019-09-01 87 days 1,716 sqft
2019-10-01 89 days 1,712 sqft
2019-11-01 95 days 1,700 sqft
2019-12-01 101 days 1,670 sqft
2020-01-01 103 days 1,643 sqft
2020-02-01 95 days 1,639 sqft
2020-03-01 76 days 1,667 sqft
2020-04-01 84 days 1,651 sqft
2020-05-01 96 days 1,673 sqft
2020-06-01 109 days 1,629 sqft
2020-07-01 110 days 1,620 sqft
2020-08-01 73 days 1,595 sqft
2020-09-01 60 days 1,554 sqft
2020-10-01 60 days 1,560 sqft
2020-11-01 66 days 1,557 sqft
2020-12-01 79 days 1,524 sqft
2021-01-01 89 days 1,468 sqft
2021-02-01 85 days 1,447 sqft
2021-03-01 73 days 1,452 sqft
2021-04-01 57 days 1,449 sqft
2021-05-01 53 days 1,504 sqft
2021-06-01 52 days 1,509 sqft
2021-07-01 50 days 1,551 sqft
2021-08-01 51 days 1,556 sqft
2021-09-01 57 days 1,573 sqft
2021-10-01 64 days 1,568 sqft
2021-11-01 63 days 1,544 sqft
2021-12-01 71 days 1,561 sqft
2022-01-01 80 days 1,542 sqft
2022-02-01 72 days 1,489 sqft
2022-03-01 46 days 1,496 sqft
2022-04-01 45 days 1,508 sqft
2022-05-01 43 days 1,598 sqft
2022-06-01 44 days 1,601 sqft
2022-07-01 46 days 1,611 sqft
2022-08-01 56 days 1,592 sqft
2022-09-01 66 days 1,603 sqft
2022-10-01 64 days 1,614 sqft
Atlantic City's median listing age (time on market) for 2022-10-01 was 64 days. This is -1% shorter than the same period one year ago.

Atlantic City's median square footage for active listings during the 2022-10-01 period was 1,614 sqft. One year prior, the average listing was 1,568 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.