Ocean City VA Loan Rates, Closing Costs & Stats

OCEAN CITY, 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.

    Ocean City's 38 lenders originated 89 VA loans during 2024. The total origination value was $43,065,000, with an average VA loan value of $483,876.

    Ocean City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Ocean City averaged 7.15% for the week of 2025-05-23, compared to the national average (all VA variants) of 6.52% for the same period.

    Ocean City's average VA mortgage closing costs are $8,105.

    The average rate for the prior week (2025-05-16) was 6.84% and one month ago for the week of 2025-04-18, the average rate was 6.81%.

    The average rate one year ago was 6.83%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.69%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Ocean 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 Ocean City level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 12 6.01% $9,367
    QUICKEN LOANS, LLC 6 5.89% $23,137
    UNITED WHOLESALE MORTGAGE, LLC 5 5.97% $7,879
    NAVY FEDERAL CREDIT UNION 5 5.93% $6,968
    Citizens Bank 4 6.59% $7,345
    FREEDOM MORTGAGE CORPORATION 4 6.13% $10,259
    The Federal Savings Bank 3 6.25% $18,320
    ALLIED MORTGAGE GROUP, INC. 3 6.38% $25,803
    NEWREZ LLC 3 6.71% $10,572
    CMG MORTGAGE, INC. 2 6.69% $6,403
    Wells Fargo Bank 2 6.44% $16,429
    NEW DAY FINANCIAL, LLC 2 7.56% $17,085
    NFM, INC. 2 6.31% $11,066
    PLANET HOME LENDING, LLC 2 6.12% $4,239
    DHI MORTGAGE COMPANY, LTD. 2 6.19% $10,416
    The Loan Store, Inc. 2 6.00% $6,315
    BROKER SOLUTIONS, INC. 2 6.44% $8,316
    USAA Federal Savings Bank 2 6.31% $9,030
    U.S. Bank 2 6.44% $16,775
    LOANDEPOT.COM, LLC 1 5.25% $18,005
    AMERISAVE MORTGAGE CORPORATION 1 5.63% $28,004
    Barrington Bank & Trust Company, N.A. 1 6.75% $3,688
    Carrington Mortgage Services, LLC 1 6.63% $14,138
    CLEARPATH LENDING 1 5.75% $6,025
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $14,377
    EMM LOANS LLC 1 5.75% $6,683
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.75% $24,515
    First Federal Bank 1 5.75% $4,247
    Flagstar Bank, FSB 1 5.88% $25,999
    Gateway First Bank 1 6.50% $13,125
    GUARANTEED RATE, INC. 1 7.10% $7,249
    LAKEVIEW LOAN SERVICING, LLC 1 5.25% $6,278
    Advisors Mortgage Group, L.L.C. 1 6.63% $4,654
    NBKC BANK 1 7.13% $3,572
    PENTAGON FEDERAL CREDIT UNION 1 5.63% $7,774
    Prosperity Home Mortgage, LLC 1 6.12% $3,711
    SUN WEST MORTGAGE COMPANY, INC. 1 6.49% $11,112
    UNION HOME MORTGAGE CORP. 1 6.38% $6,110

    The top Ocean City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 12 VA loans originated. Their average total fees are $9,367, which is $13,770 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Ocean City VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($9,367), .

    The lowest rate Ocean City VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.01%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Ocean 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 $399,900 (2.8%) $686,088 (11.8%) 0.00 2,141
    2018-02-01 $412,225 (3.3%) $699,840 (10.6%) 0.00 2,230
    2018-03-01 $415,000 (4.0%) $709,696 (11.1%) 0.00 2,230
    2018-04-01 $419,450 (7.6%) $718,298 (11.8%) 0.00 2,209
    2018-05-01 $404,500 (3.7%) $711,945 (9.6%) 0.00 2,217
    2018-06-01 $413,250 (5.1%) $727,118 (10.1%) 0.00 2,164
    2018-07-01 $411,850 (5.6%) $744,041 (11.1%) 0.00 2,129
    2018-08-01 $408,500 (7.5%) $754,201 (12.3%) 0.00 2,153
    2018-09-01 $414,950 (6.4%) $746,821 (11.7%) 0.00 2,178
    2018-10-01 $419,450 (5.1%) $754,753 (11.2%) 0.00 2,183
    2018-11-01 $423,725 (6.3%) $749,974 (10.4%) 0.00 2,191
    2018-12-01 $425,000 (6.5%) $750,991 (11.1%) 0.00 2,126
    2019-01-01 $428,075 (7.1%) $756,698 (10.3%) 0.00 2,046
    2019-02-01 $441,950 (7.2%) $767,394 (9.7%) 0.00 2,135
    2019-03-01 $440,657 (6.2%) $760,432 (7.2%) 0.00 2,189
    2019-04-01 $435,000 (3.7%) $747,706 (4.1%) 0.00 2,215
    2019-05-01 $433,625 (7.2%) $739,312 (3.8%) 0.00 2,186
    2019-06-01 $448,500 (8.5%) $741,204 (1.9%) 0.00 2,124
    2019-07-01 $449,000 (9.0%) $759,867 (2.1%) 0.00 2,050
    2019-08-01 $449,000 (9.9%) $766,728 (1.7%) 0.00 2,016
    2019-09-01 $449,000 (8.2%) $763,597 (2.3%) 0.00 1,988
    2019-10-01 $454,000 (8.2%) $766,251 (1.5%) 0.00 1,965
    2019-11-01 $474,900 (12.1%) $781,297 (4.2%) 0.00 1,875
    2019-12-01 $474,900 (11.7%) $785,720 (4.6%) 0.00 1,756
    2020-01-01 $479,900 (12.1%) $1,030,324 (36.2%) 0.00 1,686
    2020-02-01 $485,000 (9.7%) $1,053,221 (37.3%) 0.00 1,697
    2020-03-01 $494,500 (12.2%) $823,625 (8.3%) 0.00 1,680
    2020-04-01 $499,000 (14.7%) $821,888 (9.9%) 0.00 1,644
    2020-05-01 $499,000 (15.1%) $829,298 (12.2%) 0.00 1,570
    2020-06-01 $512,500 (14.3%) $911,443 (23.0%) 0.00 1,406
    2020-07-01 $499,950 (11.4%) $927,433 (22.1%) 0.00 1,196
    2020-08-01 $495,000 (10.2%) $901,556 (17.6%) 0.00 1,115
    2020-09-01 $522,400 (16.4%) $891,758 (16.8%) 0.00 1,088
    2020-10-01 $529,000 (16.5%) $910,487 (18.8%) 0.00 1,044
    2020-11-01 $549,675 (15.8%) $936,363 (19.9%) 0.00 962
    2020-12-01 $552,250 (16.3%) $938,647 (19.5%) 0.00 881
    2021-01-01 $559,000 (16.5%) $944,565 (-8.3%) 0.00 749
    2021-02-01 $594,450 (22.6%) $1,042,501 (-1.0%) 0.00 602
    2021-03-01 $649,725 (31.4%) $1,085,558 (31.8%) 0.00 609
    2021-04-01 $649,950 (30.3%) $1,166,510 (41.9%) 0.00 654
    2021-05-01 $675,000 (35.3%) $1,183,157 (42.7%) 0.00 652
    2021-06-01 $659,900 (28.8%) $1,144,741 (25.6%) 0.00 740
    2021-07-01 $619,000 (23.8%) $1,083,934 (16.9%) 0.00 768
    2021-08-01 $626,973 (26.7%) $1,084,223 (20.3%) 0.00 851
    2021-09-01 $599,943 (14.8%) $1,048,410 (17.6%) 0.00 913
    2021-10-01 $649,000 (22.7%) $1,077,306 (18.3%) 0.00 888
    2021-11-01 $695,000 (26.4%) $1,143,238 (22.1%) 0.00 812
    2021-12-01 $677,450 (22.7%) $1,140,091 (21.5%) 0.00 750
    2022-01-01 $689,000 (23.3%) $1,188,813 (25.9%) 0.00 615
    2022-02-01 $738,000 (24.2%) $1,257,453 (20.6%) 0.00 563
    2022-03-01 $767,950 (18.2%) $1,294,309 (19.2%) 0.00 545
    2022-04-01 $792,500 (21.9%) $1,373,419 (17.7%) 0.00 576
    2022-05-01 $797,450 (18.1%) $1,378,253 (16.5%) 0.00 684
    2022-06-01 $775,000 (17.4%) $1,371,150 (19.8%) 0.00 758
    2022-07-01 $724,900 (17.1%) $1,301,540 (20.1%) 0.00 863
    2022-08-01 $746,550 (19.1%) $1,333,912 (23.0%) 0.00 874
    2022-09-01 $794,500 (32.4%) $1,331,001 (27.0%) 0.00 884
    2022-10-01 $799,900 (23.3%) $1,342,416 (24.6%) 0.00 913
    2022-11-01 $799,950 (15.1%) $1,370,826 (19.9%) 0.00 899
    2022-12-01 $824,900 (21.8%) $1,361,256 (19.4%) 0.00 834
    2023-01-01 $835,000 (21.2%) $1,421,437 (19.6%) 0.00 769
    2023-02-01 $889,500 (20.5%) $1,458,037 (16.0%) 0.00 753
    2023-03-01 $899,000 (17.1%) $1,514,079 (17.0%) 0.00 737
    2023-04-01 $899,000 (13.4%) $1,520,524 (10.7%) 0.00 714
    2023-05-01 $935,750 (17.3%) $1,568,262 (13.8%) 0.00 702
    2023-06-01 $962,991 (24.3%) $1,650,580 (20.4%) 0.00 702
    2023-07-01 $974,450 (34.4%) $1,683,743 (29.4%) 0.00 711
    2023-08-01 $994,000 (33.2%) $1,734,322 (30.0%) 0.00 690
    2023-09-01 $950,000 (19.6%) $1,710,854 (28.5%) 0.00 725
    2023-10-01 $926,450 (15.8%) $1,607,532 (19.8%) 0.00 784
    2023-11-01 $884,112 (10.5%) $1,552,095 (13.2%) 0.00 805
    2023-12-01 $900,000 (9.1%) $1,565,212 (15.0%) 0.00 775
    2024-01-01 $924,975 (10.8%) $1,571,207 (10.5%) 0.00 705
    2024-02-01 $899,900 (1.2%) $1,579,666 (8.3%) 0.00 729
    2024-03-01 $919,450 (2.3%) $1,632,957 (7.9%) 0.00 794
    2024-04-01 $949,000 (5.6%) $1,667,846 (9.7%) 0.00 814
    2024-05-01 $973,500 (4.0%) $1,668,007 (6.4%) 0.00 827
    2024-06-01 $939,900 (-2.4%) $1,678,984 (1.7%) 0.00 866
    2024-07-01 $924,450 (-5.1%) $1,698,393 (0.9%) 0.00 842
    2024-08-01 $899,900 (-9.5%) $1,747,280 (0.8%) 0.00 822
    2024-09-01 $899,000 (-5.4%) $1,684,323 (-1.6%) 0.00 872
    2024-10-01 $891,694 (-3.8%) $1,606,299 (-0.1%) 0.00 903
    2024-11-01 $869,000 (-1.7%) $1,575,477 (1.5%) 0.00 897
    2024-12-01 $862,500 (-4.2%) $1,532,753 (-2.1%) 0.00 812
    Ocean City's median listing price for 2024-12-01 was $862,500, a difference of $-37,500 (-4.2%) versus the prior year and $-6,500 versus the prior month.

    Ocean City's median listing price comes in at 0% of the national average.

    Ocean City's average listing price for 2024-12-01 was $1,532,753, a difference of $-32,459 (-2.1%) versus the prior year and $-42,724 versus the prior month.

    For the 2024-12-01 period, Ocean City had 812 MLS listings, a difference of -85 listings (-9%) versus the prior month and 37 listings (5%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Ocean City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,590 sqft
    2018-02-01 0 days 1,590 sqft
    2018-03-01 0 days 1,592 sqft
    2018-04-01 0 days 1,600 sqft
    2018-05-01 0 days 1,592 sqft
    2018-06-01 0 days 1,600 sqft
    2018-07-01 0 days 1,600 sqft
    2018-08-01 0 days 1,600 sqft
    2018-09-01 0 days 1,580 sqft
    2018-10-01 0 days 1,577 sqft
    2018-11-01 0 days 1,567 sqft
    2018-12-01 0 days 1,564 sqft
    2019-01-01 0 days 1,567 sqft
    2019-02-01 0 days 1,549 sqft
    2019-03-01 0 days 1,520 sqft
    2019-04-01 0 days 1,520 sqft
    2019-05-01 0 days 1,527 sqft
    2019-06-01 0 days 1,560 sqft
    2019-07-01 0 days 1,578 sqft
    2019-08-01 0 days 1,592 sqft
    2019-09-01 0 days 1,606 sqft
    2019-10-01 0 days 1,615 sqft
    2019-11-01 0 days 1,622 sqft
    2019-12-01 0 days 1,601 sqft
    2020-01-01 0 days 1,600 sqft
    2020-02-01 0 days 1,615 sqft
    2020-03-01 0 days 1,656 sqft
    2020-04-01 0 days 1,679 sqft
    2020-05-01 0 days 1,700 sqft
    2020-06-01 0 days 1,732 sqft
    2020-07-01 0 days 1,718 sqft
    2020-08-01 0 days 1,680 sqft
    2020-09-01 0 days 1,601 sqft
    2020-10-01 0 days 1,600 sqft
    2020-11-01 0 days 1,608 sqft
    2020-12-01 0 days 1,629 sqft
    2021-01-01 0 days 1,680 sqft
    2021-02-01 0 days 1,686 sqft
    2021-03-01 0 days 1,585 sqft
    2021-04-01 0 days 1,603 sqft
    2021-05-01 0 days 1,700 sqft
    2021-06-01 0 days 1,658 sqft
    2021-07-01 0 days 1,597 sqft
    2021-08-01 0 days 1,587 sqft
    2021-09-01 0 days 1,550 sqft
    2021-10-01 0 days 1,549 sqft
    2021-11-01 0 days 1,600 sqft
    2021-12-01 0 days 1,600 sqft
    2022-01-01 0 days 1,637 sqft
    2022-02-01 0 days 1,668 sqft
    2022-03-01 0 days 1,720 sqft
    2022-04-01 0 days 1,700 sqft
    2022-05-01 0 days 1,785 sqft
    2022-06-01 0 days 1,736 sqft
    2022-07-01 0 days 1,677 sqft
    2022-08-01 0 days 1,653 sqft
    2022-09-01 0 days 1,699 sqft
    2022-10-01 0 days 1,732 sqft
    2022-11-01 0 days 1,703 sqft
    2022-12-01 0 days 1,640 sqft
    2023-01-01 0 days 1,700 sqft
    2023-02-01 0 days 1,704 sqft
    2023-03-01 0 days 1,717 sqft
    2023-04-01 0 days 1,736 sqft
    2023-05-01 0 days 1,750 sqft
    2023-06-01 0 days 1,734 sqft
    2023-07-01 0 days 1,810 sqft
    2023-08-01 0 days 1,814 sqft
    2023-09-01 0 days 1,734 sqft
    2023-10-01 0 days 1,710 sqft
    2023-11-01 0 days 1,665 sqft
    2023-12-01 0 days 1,710 sqft
    2024-01-01 0 days 1,700 sqft
    2024-02-01 0 days 1,711 sqft
    2024-03-01 0 days 1,702 sqft
    2024-04-01 0 days 1,735 sqft
    2024-05-01 0 days 1,755 sqft
    2024-06-01 0 days 1,786 sqft
    2024-07-01 0 days 1,822 sqft
    2024-08-01 0 days 1,808 sqft
    2024-09-01 0 days 1,753 sqft
    2024-10-01 0 days 1,713 sqft
    2024-11-01 0 days 1,636 sqft
    2024-12-01 0 days 1,610 sqft
    Ocean City's median listing age (time on market) for 2024-12-01 was 0 days.

    Ocean City's median square footage for active listings during the 2024-12-01 period was 1,610 sqft. One year prior, the average listing was 1,710 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.