Compare mortgage rates and fees for leading lenders in Atlantic City, NJ. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Atlantic City.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Atlantic City. Plus, shopping lenders is free and there is no obligation.
July 9, 2020
The current average rate for a 30 year fixed rate mortgage in Atlantic City is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
Below we provide helpful information on the real estate market, home prices and housing affordability in Atlantic City. Understand how much you need to earn to afford a home in Atlantic City, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Atlantic City fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Atlantic City is right for you.
The median home value for Atlantic City, NJ (Atlantic County) is $234,336
Based on current mortgage rates and a 10% down payment, you need to make $42,174 per year to buy the median priced home in Atlantic City
With this income, you could qualify for a $210,903 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Atlantic City is $977
The median household income for Atlantic City, NJ (Atlantic County) is $60,657
Based on this income, you can afford a home valued at approximately $337,030
The home price you can afford to buy based on household income in Atlantic City is 144% of the median home value which means housing prices are average. Atlantic City (Atlantic County) ranks 8 out of 21 counties in New Jersey and 2,608 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Atlantic City, NJ is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Atlantic City (Atlantic County) below.
Conforming loan limits for Atlantic City, NJ
FHA loan limits for Atlantic City, NJ
VA loan limits for Atlantic City, NJ