Atlantic City VA Loans

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 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.