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 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.