Cape Coral FHA Loan Rates, Closing Costs & Stats

CAPE CORAL-FORT MYERS, FL

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Cape Coral's 228 lenders originated 3,711 FHA loans during 2022. The total origination value was $1,157,175,000, with an average FHA loan value of $311,823.

Cape Coral FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Cape Coral averaged 6.22% for the week of 2024-03-01, compared to the national average (all FHA variants) of 6.688% for the same period.

Cape Coral's average FHA mortgage closing costs are $8,683.

The average rate for the prior week (2024-02-23) was 6.31% and one month ago for the week of 2024-01-26, the average rate was 6.01%.

The average rate one year ago was 6.24%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.24%.

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

Cape Coral FHA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Cape Coral level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 406 4.72% $12,786
QUICKEN LOANS, LLC 252 4.20% $11,655
LOANDEPOT.COM, LLC 210 5.07% $12,086
CROSSCOUNTRY MORTGAGE, LLC 204 5.07% $14,147
DHI MORTGAGE COMPANY, LTD. 147 4.53% $11,049
CARDINAL FINANCIAL 145 4.88% $14,681
CALIBER HOME LOANS, INC. 132 4.49% $12,762
PENNYMAC LOAN SERVICES, LLC 80 4.11% $11,030
Paramount Residential Mortgage Group, Inc. 70 5.26% $14,077
BROKER SOLUTIONS, INC. 67 5.17% $13,399
FREEDOM MORTGAGE CORPORATION 62 4.57% $11,390
MOVEMENT MORTGAGE, LLC 57 5.02% $11,729
FBC MORTGAGE, LLC 57 5.02% $8,795
AMERICAN PACIFIC MORTGAGE CORPORATION 56 5.21% $14,378
HOME POINT FINANCIAL CORPORATION 55 4.12% $12,004
GENEVA FINANCIAL, LLC 55 5.02% $15,619
SECURITYNATIONAL MORTGAGE COMPANY 48 4.98% $16,851
PANORAMA MORTGAGE GROUP, LLC 48 5.23% $15,600
EVERETT FINANCIAL, INC. 47 5.55% $8,516
AMERISAVE MORTGAGE CORPORATION 40 4.43% $13,516
Mr. Cooper ( Nationstar Mortgage ) 38 4.24% $13,509
EAGLE HOME MORTGAGE, LLC 35 5.06% $12,330
LAKEVIEW LOAN SERVICING, LLC 35 3.77% $7,051
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 35 5.25% $12,167
Flagstar Bank, FSB 33 4.58% $12,462
MORTGAGE 1 INCORPORATED 32 4.84% $12,631
Carrington Mortgage Services, LLC 30 4.95% $13,751
HOMESIDE FINANCIAL, LLC 29 5.36% $14,587
PLAZA HOME MORTGAGE, INC. 27 4.65% $17,116
HAMILTON HOME LOANS, INC. 26 4.54% $12,797
VAN DYK MORTGAGE CORPORATION 26 5.01% $10,536
Eagle Bank and Trust Company 24 4.32% $10,701
PRIMARY RESIDENTIAL MORTGAGE, INC. 22 4.84% $14,154
NEWREZ LLC 22 4.67% $10,120
FINANCE OF AMERICA MORTGAGE LLC 21 4.54% $11,368
HOMEBRIDGE FINANCIAL SERVICES, INC. 19 5.24% $14,142
Lakeview Community Capital, LLC 19 3.78% $5,598
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 18 4.89% $14,258
OCMBC, INC. 18 4.66% $14,119
Equity Prime Mortgage LLC 18 5.01% $14,309
GUARANTEED RATE, INC. 18 4.83% $14,006
LOANPAL, LLC 16 3.61% $12,762
AMCAP MORTGAGE, LTD. 15 5.18% $17,266
MY MORTGAGE, INC. 15 5.01% $14,114
AMERICAN FINANCING CORPORATION 15 4.42% $10,690
Sierra Pacific Mortgage Company, Inc. 14 5.44% $14,218
PULTE MORTGAGE LLC 13 5.13% $8,494
CALCON MUTUAL MORTGAGE LLC 11 3.88% $9,517
TJC Mortgage, Inc. 11 4.13% $11,514
INLANTA MORTGAGE, INC. 10 4.65% $13,047
GUARANTEED RATE AFFINITY, LLC 10 5.27% $11,363
CMG MORTGAGE, INC. 10 5.16% $12,404
Hometown Lenders, Inc. 10 4.50% $12,204
VILLAGE CAPITAL MORTGAGE 9 4.15% $7,610
Bank of England 9 5.32% $13,029
READY MORTGAGE LENDERS, LLC 9 4.93% $17,859
PLANET HOME LENDING, LLC 9 3.98% $9,548
Waterstone Mortgage Corporation 9 4.40% $11,821
Citizens Bank 8 4.31% $13,418
TOP FLITE FINANCIAL, INC. 7 4.80% $17,991
COLUMBUS CAPITAL LENDING, LLC 7 4.80% $14,765
Century Mortgage Company DBA Century Lending Company 7 5.11% $12,945
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 7 5.70% $14,468
The Federal Savings Bank 7 4.52% $15,575
KBHS HOME LOANS, LLC 7 5.47% $11,115
ACADEMY MORTGAGE CORPORATION 7 4.75% $11,096
NETWORK CAPITAL FUNDING CORPORATION 6 4.13% $12,026
LADERA LENDING, INC. 6 4.79% $13,274
First Guaranty Mortgage Corporation 6 4.44% $13,822
Mortgage Lenders Investment Trading Corporation 6 4.54% $7,581
RESIDENTIAL BANCORP 6 4.44% $12,449
MORTGAGE EQUITY PARTNERS LLC 6 4.98% $11,887
ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 3.96% $9,636
Plains Commerce Bank 6 5.14% $13,220
INSPIRE HOME LOANS INC. 6 4.27% $9,770
EMBRACE HOME LOANS, INC. 6 5.16% $12,970
NATIONS RELIABLE LENDING, LLC 6 4.96% $14,540
NATIONS DIRECT MORTGAGE, LLC 6 4.60% $12,159
First Option Mortgage, LLC 5 4.50% $10,618
Cornerstone First Mortgage, Inc 5 5.20% $15,352
NATIONWIDE MORTGAGE BANKERS, INC. 5 4.60% $15,140
Prosperity Home Mortgage, LLC 5 5.12% $12,415
ABSOLUTE HOME MORTGAGE CORPORATION 5 5.05% $15,056
Wells Fargo Bank 5 5.55% $12,283
SUCCESS MORTGAGE PARTNERS, INC. 5 5.30% $12,183
T2 FINANCIAL LLC 5 4.58% $10,748
THE EQUITABLE MORTGAGE CORPORATION 5 4.68% $9,557
AmeriHome Mortgage Company, LLC 5 4.38% $11,776
AMERIFIRST FINANCIAL CORPORATION 5 4.95% $15,406
HOMESPIRE MORTGAGE CORPORATION 4 5.59% $13,616
First Federal Bank 4 4.81% $19,532
NP, Inc. 4 6.16% $11,257
1ST FINANCIAL, INC. 4 6.06% $14,902
AMERICAN PORTFOLIO MORTGAGE CORPORATION 4 4.59% $14,508
Nations Lending Corporation 4 4.84% $11,814
Neighborhood Loans, Inc. 4 4.56% $13,201
TOWNE MORTGAGE COMPANY 4 5.53% $17,177
CONTOUR MORTGAGE CORPORATION 4 4.88% $15,423
Summit Mortgage Corporation 4 4.44% $12,827
ZILLOW HOME LOANS, LLC 3 5.00% $10,302
Bank of America 3 4.00% $6,830
BAY EQUITY LLC 3 4.50% $9,904
CROSSFIRE FINANCIAL NETWORK, INC. 3 5.29% $16,067
First Horizon Bank 3 4.63% $9,849
GERSHMAN INVESTMENT CORP. 3 5.25% $10,669
HOMEOWNERS FINANCIAL GROUP USA, LLC 3 4.79% $13,094
Hometown Equity Mortgage, LLC 3 4.54% $14,021
Ixonia Bank 3 5.38% $17,508
LAND HOME FINANCIAL SERVICES, INC. 3 5.00% $12,921
MILEND, INC. 3 5.08% $14,015
Mortgage Research Center, LLC 3 5.67% $5,196
MUTUAL OF OMAHA MORTGAGE, INC. 3 4.58% $12,433
Northpointe Bank 3 5.08% $12,635
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 4.83% $10,759
TOTAL MORTGAGE SERVICES, LLC 3 5.67% $13,151
Truist 3 5.21% $9,945
Financial Freedom Mortgage, LLC 2 5.31% $12,100
LAKE MICHIGAN CREDIT UNION 2 5.00% $10,208
GREAT WESTERN FINANCIAL SERVICES, INC. 2 4.69% $10,936
VERITAS FUNDING, LLC 2 4.62% $18,339
Loan Simple, Inc. 2 5.94% $14,074
MATTAMY HOME FUNDING, LLC 2 4.37% $10,665
MICHIGAN MUTUAL, INC. 2 4.75% $13,157
MID AMERICA MORTGAGE, INC. 2 4.44% $5,919
MORIA DEVELOPMENT, INC. 2 4.69% $15,008
M&T Bank 2 3.50% $10,991
Advisors Mortgage Group, L.L.C. 2 5.69% $10,416
FIRST CENTENNIAL MORTGAGE CORPORATION 2 3.88% $10,466
FAIRWAY FUNDING GROUP, INC. 2 4.13% $8,598
DG PINNACLE FUNDING LLC 2 5.94% $16,521
NORWICH COMMERCIAL GROUP, INC. 2 5.25% $12,493
CRESCENT MORTGAGE COMPANY 2 5.38% $6,559
Commerce Home Mortgage, Inc. 2 4.25% $15,259
BECKAM FUNDING CORP. 2 6.25% $16,825
Regions Bank 2 3.69% $9,836
RELIANCE FIRST CAPITAL, LLC 2 4.31% $12,620
RESIDENTIAL HOME FUNDING CORP. 2 4.69% $15,199
Shamrock Home Loans, Inc. 2 6.19% $13,574
SHELTER MORTGAGE COMPANY, L.L.C. 2 5.00% $8,789
South Pacific Financial Corporation 2 5.31% $10,097
SOUTHWEST FUNDING, LP 2 5.31% $17,578
STOCKTON MORTGAGE CORPORATION 2 4.88% $19,427
SUN WEST MORTGAGE COMPANY, INC. 2 6.31% $12,090
Synovus Bank 2 5.94% $11,421
THE MORTGAGE FIRM, INC. 2 5.44% $10,163
Wyndham Capital Mortgage, Inc. 2 3.38% $6,308
AMERICAN BANCSHARES MORTGAGE 2 4.25% $14,714
UNION HOME MORTGAGE CORP. 2 5.56% $7,574
UNITED MORTGAGE CORP 2 5.63% $10,295
ALLIED MORTGAGE GROUP, INC. 2 5.13% $11,378
HOMESTAR FINANCIAL CORPORATION 2 4.69% $15,253
JLB CORPORATION 2 5.25% $9,234
JPMorgan Chase Bank 2 5.37% $10,381
KeyBank 2 4.63% $12,220
Allied First Bank,sb 1 6.25% $12,948
DAS Acquisition Company, LLC 1 4.63% $9,601
OCEANSIDE MORTGAGE COMPANY 1 3.88% $2,704
THE MORTGAGE WAREHOUSE,LLC 1 3.50% $10,724
OPEN MORTGAGE, LLC 1 3.50% $10,430
Pacor Mortgage Corp 1 7.63% $9,987
COUNTRYPLACE MORTGAGE, LTD. 1 5.25% $19,263
Paramount Bank 1 4.63% $8,690
COMPASS MORTGAGE, INC. 1 4.75% $10,308
The Union Bank Company 1 3.75% $9,808
CIS Financial Services, Inc. 1 3.88% $16,141
CHERRY CREEK MORTGAGE, LLC 1 5.25% $5,175
CBM Mortgage, Inc. 1 5.38% $13,026
Premium Mortgage Corporation 1 6.13% $19,924
CASTLE & COOKE MORTGAGE, LLC 1 5.13% $15,987
Willamette Valley Bank 1 5.75% $14,035
Princeton Mortgage Corporation 1 3.50% $23,266
CAPITAL PARTNERS MORTGAGE, LLC 1 5.75% $12,071
BRIDGEVIEW MORTGAGE CORP. 1 4.50% $18,561
Bell Bank 1 4.75% $11,819
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.13% $15,721
AMERICAN FINANCIAL RESOURCES, INC. 1 6.50% $10,240
GUILD MORTGAGE COMPANY 1 5.50% $11,823
Republic Bank & Trust Company 1 4.13% $10,862
BANKING MORTGAGE SERVICES, B.M.S. CORP. 1 5.63% $14,630
INTERSTATE HOME LOAN CENTER, INC. 1 3.75% $7,743
Ross Mortgage Company, Inc. 1 3.13% $10,599
ROYAL UNITED MORTGAGE LLC 1 3.13% $17,652
AXIA FINANCIAL, LLC 1 5.13% $21,436
Semper Home Loans, Inc. 1 4.75% $11,756
1ST PREFERENCE MORTGAGE CORP. 1 4.75% $7,530
Vellum Mortgage, Inc. 1 5.25% $13,364
Austin Capital Bank SSB 1 3.63% $11,402
SIWELL, INC. 1 3.75% $5,426
JET HOMELOANS, LLC 1 4.63% $9,437
SOUTHPOINT FINANCIAL SERVICES, INC. 1 3.00% $11,211
South State Bank 1 4.75% $14,440
UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 5.13% $14,730
J. VIRGIL, INC. 1 6.00% $16,929
FIRST WORLD MORTGAGE CORPORATION 1 6.13% $17,310
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 3.63% $9,068
LHM FINANCIAL CORPORATION 1 4.50% $7,097
First Savings Bank 1 2.88% $8,488
LOANLEADERS OF AMERICA, INC. 1 4.88% $17,668
FIRST MORTGAGE COMPANY, INC. 1 3.88% $9,631
Assurance Financial Group, L.L.C. 1 5.63% $12,738
UNIVERSITY LENDING GROUP, LLC 1 3.63% $10,705
SWBC MORTGAGE CORPORATION 1 6.00% $11,338
U.S. Bank 1 3.25% $6,561
Alcova Mortgage LLC 1 3.13% $8,357
Arvest Bank 1 4.38% $12,876
First Internet Bank of Indiana 1 4.50% $14,319
FIRST HOME MORTGAGE CORPORATION 1 4.50% $15,074
First Home Bank 1 3.25% $7,980
V.I.P. MORTGAGE, INC. 1 3.75% $9,308
First Heritage Mortgage, LLC 1 4.99% $17,147
FIRST EQUITY MORTGAGE BANKERS, INC. 1 4.75% $14,978
TD Bank 1 3.25% $5,621
Mutual Federal Bank 1 6.75% $8,796
Texana Bank 1 2.38% $10,865
AmRes Corporation 1 3.88% $13,572
NASA Federal Credit Union 1 3.88% $8,630
FirstBank 1 3.63% $8,995
First Bank 1 4.75% $17,974
GSF Mortgage Corporation 1 4.50% $18,872
Fifth Third Bank 1 3.13% $9,346
Amerifirst Financial, Inc. 1 5.63% $14,327
EQUITY NOW INC. 1 4.75% $13,858
The Home Loan Expert LLC 1 3.75% $10,282
NEXERA HOLDING LLC 1 4.63% $8,595
NFM, INC. 1 5.50% $12,719
North American Savings Bank, F.S.B. 1 4.63% $12,641
NORTHERN MORTGAGE SERVICES, LLC 1 6.75% $7,001
A&D Mortgage LLC 1 6.13% $22,353

The top Cape Coral FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 406 FHA loans originated. Their average total fees are $12,786, which is $1,131 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Cape Coral FHA lenders (with over 10 loans originated) are Lakeview Community Capital, LLC ($5,598), LAKEVIEW LOAN SERVICING, LLC ($7,051), PULTE MORTGAGE LLC ($8,494), EVERETT FINANCIAL, INC. ($8,516) and FBC MORTGAGE, LLC ($8,795).

The lowest rate Cape Coral FHA lenders (with over 10 loans originated) are LOANPAL, LLC (3.61%), LAKEVIEW LOAN SERVICING, LLC (3.77%), Lakeview Community Capital, LLC (3.78%), CALCON MUTUAL MORTGAGE LLC (3.88%) and PENNYMAC LOAN SERVICES, LLC (4.11%).

Cape Coral FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
CAPE CORAL-FORT MYERS, FL LEE 2022 $420,680 $538,650 $651,050 $809,150
CAPE CORAL-FORT MYERS, FL LEE 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Cape Coral (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 $299,900 (-3.2%) $480,723 (0.2%) 1.11 9,100
2018-02-01 $299,900 (-3.1%) $485,811 (1.7%) 1.09 9,580
2018-03-01 $299,900 (-0.9%) $483,483 (1.9%) 1.05 9,691
2018-04-01 $299,900 (0.0%) $483,597 (1.5%) 1.02 9,401
2018-05-01 $299,000 (-0.3%) $480,406 (1.3%) 1.00 9,063
2018-06-01 $294,751 (-1.7%) $475,315 (0.4%) 0.98 8,528
2018-07-01 $295,000 (-1.6%) $469,544 (0.2%) 0.99 8,138
2018-08-01 $289,700 (-3.1%) $461,943 (-1.3%) 0.97 7,931
2018-09-01 $289,000 (-3.0%) $458,725 (-1.6%) 0.97 8,005
2018-10-01 $290,000 (-2.8%) $463,489 (0.0%) 0.98 8,504
2018-11-01 $298,450 (-0.4%) $471,540 (0.3%) 1.01 9,148
2018-12-01 $294,900 (-1.7%) $471,086 (-1.3%) 1.02 9,833
2019-01-01 $294,450 (-1.8%) $477,653 (-0.6%) 1.02 10,451
2019-02-01 $298,400 (-0.5%) $478,046 (-1.6%) 1.01 11,072
2019-03-01 $298,786 (-0.4%) $480,461 (-0.6%) 0.98 10,787
2019-04-01 $298,340 (-0.5%) $478,520 (-1.1%) 0.95 10,327
2019-05-01 $295,000 (-1.3%) $475,925 (-0.9%) 0.92 9,625
2019-06-01 $292,500 (-0.8%) $473,216 (-0.4%) 0.91 8,836
2019-07-01 $291,500 (-1.2%) $468,091 (-0.3%) 0.91 8,284
2019-08-01 $294,636 (1.7%) $466,019 (0.9%) 0.93 7,973
2019-09-01 $297,091 (2.8%) $465,068 (1.4%) 0.95 7,823
2019-10-01 $299,000 (3.1%) $466,709 (0.7%) 0.96 7,754
2019-11-01 $299,900 (0.5%) $483,804 (2.6%) 0.98 8,007
2019-12-01 $302,497 (2.6%) $496,296 (5.4%) 1.01 8,041
2020-01-01 $307,000 (4.3%) $505,884 (5.9%) 1.03 8,217
2020-02-01 $317,000 (6.2%) $518,311 (8.4%) 1.04 8,200
2020-03-01 $319,999 (7.1%) $521,190 (8.5%) 1.00 7,983
2020-04-01 $314,500 (5.4%) $506,433 (5.8%) 0.99 7,800
2020-05-01 $319,500 (8.3%) $514,308 (8.1%) 0.97 7,198
2020-06-01 $324,950 (11.1%) $531,570 (12.3%) 0.96 6,494
2020-07-01 $325,000 (11.5%) $547,863 (17.0%) 0.94 5,909
2020-08-01 $325,000 (10.3%) $552,123 (18.5%) 0.93 5,443
2020-09-01 $323,333 (8.8%) $559,350 (20.3%) 0.93 5,092
2020-10-01 $325,000 (8.7%) $564,844 (21.0%) 0.93 4,852
2020-11-01 $324,900 (8.3%) $573,363 (18.5%) 0.95 4,591
2020-12-01 $324,019 (7.1%) $578,807 (16.6%) 0.96 4,350
2021-01-01 $319,900 (4.2%) $588,738 (16.4%) 0.95 3,805
2021-02-01 $321,575 (1.4%) $605,880 (16.9%) 0.94 2,920
2021-03-01 $334,950 (4.7%) $632,782 (21.4%) 0.95 2,134
2021-04-01 $349,450 (11.1%) $642,310 (26.8%) 0.95 1,923
2021-05-01 $364,000 (13.9%) $666,089 (29.5%) 0.97 1,659
2021-06-01 $370,725 (14.1%) $675,109 (27.0%) 0.98 1,802
2021-07-01 $375,000 (15.4%) $654,029 (19.4%) 0.99 1,878
2021-08-01 $394,850 (21.5%) $677,849 (22.8%) 1.05 1,951
2021-09-01 $399,000 (23.4%) $681,026 (21.8%) 1.06 1,976
2021-10-01 $424,900 (30.7%) $705,031 (24.8%) 1.13 1,928
2021-11-01 $429,500 (32.2%) $736,847 (28.5%) 1.15 1,854
2021-12-01 $437,000 (34.9%) $729,702 (26.1%) 1.18 1,821
2022-01-01 $430,000 (34.4%) $741,904 (26.0%) 1.16 1,636
2022-02-01 $468,125 (45.6%) $788,049 (30.1%) 1.22 1,533
2022-03-01 $488,500 (45.8%) $786,956 (24.4%) 1.22 1,681
2022-04-01 $495,000 (41.7%) $788,130 (22.7%) 1.18 1,973
2022-05-01 $499,000 (37.1%) $781,253 (17.3%) 1.14 2,526
2022-06-01 $499,450 (34.7%) $769,489 (14.0%) 1.11 3,219
2022-07-01 $485,250 (29.4%) $747,057 (14.2%) 1.09 3,921
2022-08-01 $475,000 (20.3%) $720,210 (6.3%) 1.10 4,198
2022-09-01 $465,000 (16.5%) $712,302 (4.6%) 1.09 4,230
2022-10-01 $459,900 (8.2%) $699,215 (-0.8%) 1.08 3,849
2022-11-01 $459,950 (7.1%) $710,957 (-3.5%) 1.11 3,958
2022-12-01 $465,000 (6.4%) $717,351 (-1.7%) 1.15 4,240
2023-01-01 $471,950 (9.8%) $719,056 (-3.1%) 1.17 4,530
2023-02-01 $479,500 (2.4%) $736,977 (-6.5%) 1.16 4,745
2023-03-01 $498,750 (2.1%) $750,498 (-4.6%) 1.18 5,112
2023-04-01 $499,000 (0.8%) $750,086 (-4.8%) 1.16 5,503
2023-05-01 $494,500 (-0.9%) $748,639 (-4.2%) 1.12 5,626
2023-06-01 $486,750 (-2.5%) $736,037 (-4.4%) 1.09 5,816
2023-07-01 $480,000 (-1.1%) $725,142 (-2.9%) 1.09 5,924
2023-08-01 $479,000 (0.8%) $716,311 (-0.5%) 1.10 5,938
2023-09-01 $470,000 (1.1%) $698,509 (-1.9%) 1.09 6,357
2023-10-01 $472,450 (2.7%) $699,954 (0.1%) 1.11 7,159
2023-11-01 $474,950 (3.3%) $707,121 (-0.5%) 1.13 7,943
2023-12-01 $475,415 (2.2%) $724,719 (1.0%) 1.16 8,449
2024-01-01 $480,950 (1.9%) $739,029 (2.8%) 1.17 9,175
Cape Coral's median listing price for 2024-01-01 was $480,950, a difference of $9,000 (1.9%) versus the prior year and $5,535 versus the prior month.

Cape Coral's median listing price comes in at 117% of the national average.

Cape Coral's average listing price for 2024-01-01 was $739,029, a difference of $19,973 (2.8%) versus the prior year and $14,310 versus the prior month.

For the 2024-01-01 period, Cape Coral had 9,175 MLS listings, a difference of 726 listings (9%) versus the prior month and 4,645 listings (103%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Cape Coral (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 67 days 1,785 sqft
2018-02-01 65 days 1,788 sqft
2018-03-01 62 days 1,789 sqft
2018-04-01 72 days 1,795 sqft
2018-05-01 75 days 1,787 sqft
2018-06-01 81 days 1,784 sqft
2018-07-01 85 days 1,785 sqft
2018-08-01 86 days 1,775 sqft
2018-09-01 85 days 1,772 sqft
2018-10-01 77 days 1,769 sqft
2018-11-01 71 days 1,767 sqft
2018-12-01 72 days 1,755 sqft
2019-01-01 74 days 1,756 sqft
2019-02-01 74 days 1,759 sqft
2019-03-01 76 days 1,761 sqft
2019-04-01 79 days 1,757 sqft
2019-05-01 85 days 1,753 sqft
2019-06-01 88 days 1,755 sqft
2019-07-01 92 days 1,756 sqft
2019-08-01 87 days 1,755 sqft
2019-09-01 83 days 1,755 sqft
2019-10-01 77 days 1,757 sqft
2019-11-01 68 days 1,763 sqft
2019-12-01 72 days 1,777 sqft
2020-01-01 75 days 1,779 sqft
2020-02-01 72 days 1,788 sqft
2020-03-01 67 days 1,794 sqft
2020-04-01 76 days 1,773 sqft
2020-05-01 86 days 1,796 sqft
2020-06-01 95 days 1,788 sqft
2020-07-01 90 days 1,774 sqft
2020-08-01 77 days 1,760 sqft
2020-09-01 74 days 1,752 sqft
2020-10-01 65 days 1,756 sqft
2020-11-01 61 days 1,740 sqft
2020-12-01 64 days 1,734 sqft
2021-01-01 62 days 1,722 sqft
2021-02-01 51 days 1,694 sqft
2021-03-01 47 days 1,696 sqft
2021-04-01 40 days 1,706 sqft
2021-05-01 39 days 1,722 sqft
2021-06-01 37 days 1,745 sqft
2021-07-01 40 days 1,748 sqft
2021-08-01 46 days 1,765 sqft
2021-09-01 49 days 1,768 sqft
2021-10-01 47 days 1,784 sqft
2021-11-01 46 days 1,779 sqft
2021-12-01 49 days 1,761 sqft
2022-01-01 49 days 1,754 sqft
2022-02-01 33 days 1,765 sqft
2022-03-01 29 days 1,761 sqft
2022-04-01 30 days 1,770 sqft
2022-05-01 31 days 1,756 sqft
2022-06-01 35 days 1,758 sqft
2022-07-01 40 days 1,757 sqft
2022-08-01 47 days 1,754 sqft
2022-09-01 54 days 1,757 sqft
2022-10-01 67 days 1,770 sqft
2022-11-01 73 days 1,767 sqft
2022-12-01 63 days 1,742 sqft
2023-01-01 59 days 1,732 sqft
2023-02-01 50 days 1,727 sqft
2023-03-01 45 days 1,737 sqft
2023-04-01 47 days 1,735 sqft
2023-05-01 54 days 1,734 sqft
2023-06-01 58 days 1,722 sqft
2023-07-01 65 days 1,725 sqft
2023-08-01 66 days 1,733 sqft
2023-09-01 66 days 1,729 sqft
2023-10-01 61 days 1,737 sqft
2023-11-01 60 days 1,742 sqft
2023-12-01 66 days 1,738 sqft
2024-01-01 72 days 1,750 sqft
Cape Coral's median listing age (time on market) for 2024-01-01 was 72 days. This is 21% longer than the same period one year ago.

Cape Coral's median square footage for active listings during the 2024-01-01 period was 1,750 sqft. One year prior, the average listing was 1,732 sqft.

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).