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 6.71% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.47% and one month ago for the week of 2024-10-04, the average rate was 5.69%.

    The average rate one year ago was 7.35%.

    For refis of the same type during the week of 2024-11-08, the average rate was 7.12%.

    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%).

    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.