Atlantic City VA Loans

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 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 5.51% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.54% and one month ago for the week of 2022-04-08, the average rate was 5.27%.

The average rate one year ago was 2.98%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.45%.

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 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. Total Fees
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 & INVESTMENT LLC 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 $229,950 (2.3%) $403,847 (10.2%) 0.85 2,608
2018-02-01 $234,150 (4.1%) $409,199 (10.4%) 0.84 2,645
2018-03-01 $235,000 (2.6%) $410,281 (7.7%) 0.81 2,742
2018-04-01 $239,900 (4.4%) $410,506 (6.5%) 0.81 2,757
2018-05-01 $244,950 (3.8%) $417,946 (7.3%) 0.82 2,766
2018-06-01 $246,000 (3.0%) $421,746 (7.3%) 0.82 2,764
2018-07-01 $249,000 (4.2%) $427,732 (9.0%) 0.83 2,712
2018-08-01 $249,000 (4.0%) $424,887 (9.5%) 0.83 2,719
2018-09-01 $249,900 (4.1%) $424,215 (5.9%) 0.84 2,682
2018-10-01 $249,900 (3.1%) $420,603 (3.8%) 0.84 2,655
2018-11-01 $249,900 (4.4%) $417,762 (4.1%) 0.84 2,626
2018-12-01 $249,000 (6.0%) $414,645 (3.5%) 0.85 2,588
2019-01-01 $246,250 (7.1%) $412,214 (2.1%) 0.85 2,440
2019-02-01 $247,700 (5.8%) $422,348 (3.2%) 0.83 2,543
2019-03-01 $256,943 (9.3%) $465,823 (13.5%) 0.84 2,658
2019-04-01 $269,000 (12.1%) $524,353 (27.7%) 0.85 2,725
2019-05-01 $269,000 (9.8%) $436,601 (4.5%) 0.83 2,793
2019-06-01 $260,000 (5.7%) $429,865 (1.9%) 0.80 2,817
2019-07-01 $259,950 (4.4%) $427,984 (0.1%) 0.81 2,807
2019-08-01 $255,614 (2.7%) $416,908 (-1.9%) 0.80 2,978
2019-09-01 $249,900 (0.0%) $404,760 (-4.6%) 0.79 3,047
2019-10-01 $249,900 (0.0%) $410,925 (-2.3%) 0.80 2,690
2019-11-01 $250,000 (0.0%) $409,573 (-2.0%) 0.81 2,550
2019-12-01 $249,900 (0.4%) $404,652 (-2.4%) 0.83 2,423
2020-01-01 $249,900 (1.5%) $408,432 (-0.9%) 0.83 2,282
2020-02-01 $249,900 (0.9%) $409,682 (-3.0%) 0.81 2,309
2020-03-01 $255,700 (-0.5%) $425,202 (-8.7%) 0.80 2,380
2020-04-01 $250,000 (-7.1%) $424,299 (-19.1%) 0.78 2,327
2020-05-01 $252,900 (-6.0%) $423,571 (-3.0%) 0.77 2,277
2020-06-01 $250,000 (-3.9%) $423,211 (-1.6%) 0.73 2,066
2020-07-01 $252,450 (-2.9%) $438,423 (2.4%) 0.72 1,868
2020-08-01 $254,900 (-0.3%) $443,974 (6.5%) 0.73 1,689
2020-09-01 $256,950 (2.8%) $434,600 (7.4%) 0.73 1,636
2020-10-01 $254,900 (2.0%) $443,702 (8.0%) 0.73 1,678
2020-11-01 $256,950 (2.8%) $445,013 (8.7%) 0.74 1,682
2020-12-01 $249,900 (0.0%) $434,008 (7.3%) 0.73 1,644
2021-01-01 $249,000 (-0.4%) $425,401 (4.2%) 0.73 1,427
2021-02-01 $249,450 (-0.2%) $442,924 (8.1%) 0.72 1,262
2021-03-01 $245,950 (-3.8%) $449,946 (5.8%) 0.69 1,174
2021-04-01 $252,500 (1.0%) $471,426 (11.1%) 0.68 1,139
2021-05-01 $279,900 (10.7%) $485,648 (14.7%) 0.74 1,152
2021-06-01 $279,900 (12.0%) $472,231 (11.6%) 0.73 1,196
2021-07-01 $282,875 (12.1%) $463,992 (5.8%) 0.73 1,320
2021-08-01 $290,750 (14.1%) $461,820 (4.0%) 0.76 1,442
2021-09-01 $299,000 (16.4%) $451,588 (3.9%) 0.79 1,421
2021-10-01 $299,900 (17.7%) $452,070 (1.9%) 0.79 1,305
2021-11-01 $299,000 (16.4%) $444,653 (-0.1%) 0.79 1,216
2021-12-01 $298,200 (19.3%) $449,669 (3.6%) 0.80 1,105
2022-01-01 $299,000 (20.1%) $453,508 (6.6%) 0.80 944
2022-02-01 $296,450 (18.8%) $468,104 (5.7%) 0.76 840
2022-03-01 $287,450 (16.9%) $496,377 (10.3%) 0.71 840
2022-04-01 $300,000 (18.8%) $527,699 (11.9%) 0.71 869
Atlantic City's median listing price for 2022-04-01 was $300,000, a difference of $47,500 (18.8%) versus the prior year and $12,550 versus the prior month.

Atlantic City's median listing price comes in at 71% of the national average.

Atlantic City's average listing price for 2022-04-01 was $527,699, a difference of $56,273 (11.9%) versus the prior year and $31,322 versus the prior month.

For the 2022-04-01 period, Atlantic City had 869 MLS listings, a difference of 29 listings (3%) versus the prior month and -270 listings (-24%) 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
2018-01-01 108 days 1,784 sqft
2018-02-01 103 days 1,786 sqft
2018-03-01 84 days 1,784 sqft
2018-04-01 75 days 1,800 sqft
2018-05-01 79 days 1,820 sqft
2018-06-01 84 days 1,844 sqft
2018-07-01 91 days 1,843 sqft
2018-08-01 89 days 1,841 sqft
2018-09-01 87 days 1,853 sqft
2018-10-01 87 days 1,844 sqft
2018-11-01 89 days 1,803 sqft
2018-12-01 95 days 1,764 sqft
2019-01-01 100 days 1,765 sqft
2019-02-01 95 days 1,760 sqft
2019-03-01 72 days 1,763 sqft
2019-04-01 70 days 1,771 sqft
2019-05-01 72 days 1,797 sqft
2019-06-01 74 days 1,783 sqft
2019-07-01 80 days 1,791 sqft
2019-08-01 85 days 1,774 sqft
2019-09-01 87 days 1,732 sqft
2019-10-01 86 days 1,781 sqft
2019-11-01 92 days 1,786 sqft
2019-12-01 96 days 1,762 sqft
2020-01-01 99 days 1,753 sqft
2020-02-01 89 days 1,750 sqft
2020-03-01 70 days 1,774 sqft
2020-04-01 79 days 1,745 sqft
2020-05-01 91 days 1,748 sqft
2020-06-01 105 days 1,746 sqft
2020-07-01 99 days 1,744 sqft
2020-08-01 66 days 1,700 sqft
2020-09-01 56 days 1,698 sqft
2020-10-01 53 days 1,700 sqft
2020-11-01 59 days 1,679 sqft
2020-12-01 72 days 1,601 sqft
2021-01-01 83 days 1,560 sqft
2021-02-01 81 days 1,521 sqft
2021-03-01 71 days 1,513 sqft
2021-04-01 56 days 1,502 sqft
2021-05-01 52 days 1,598 sqft
2021-06-01 51 days 1,583 sqft
2021-07-01 49 days 1,600 sqft
2021-08-01 49 days 1,628 sqft
2021-09-01 56 days 1,648 sqft
2021-10-01 62 days 1,632 sqft
2021-11-01 62 days 1,625 sqft
2021-12-01 69 days 1,635 sqft
2022-01-01 78 days 1,650 sqft
2022-02-01 71 days 1,564 sqft
2022-03-01 46 days 1,568 sqft
2022-04-01 43 days 1,617 sqft
Atlantic City's median listing age (time on market) for 2022-04-01 was 43 days. This is -23% shorter than the same period one year ago.

Atlantic City's median square footage for active listings during the 2022-04-01 period was 1,617 sqft. One year prior, the average listing was 1,502 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.