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 246 lenders originated 6,365 FHA loans during 2021. The total origination value was $1,541,975,000, with an average FHA loan value of $242,258.

Cape Coral FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Cape Coral averaged 6.57% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Cape Coral's average FHA mortgage closing costs are $8,020.

The average rate for the prior week (2022-11-25) was 6.39% and one month ago for the week of 2022-10-28, the average rate was 6.83%.

The average rate one year ago was 3.66%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.12%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 480 2.71% $6,520
CROSSCOUNTRY MORTGAGE, LLC 458 3.14% $9,753
UNITED WHOLESALE MORTGAGE, LLC 410 2.74% $8,881
CALIBER HOME LOANS, INC. 268 2.88% $8,804
LOANDEPOT.COM, LLC 233 3.12% $9,736
FREEDOM MORTGAGE CORPORATION 208 2.81% $6,263
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 201 3.16% $9,877
LAKEVIEW LOAN SERVICING, LLC 176 3.06% $4,676
PENNYMAC LOAN SERVICES, LLC 173 3.11% $5,438
Paramount Residential Mortgage Group, Inc. 162 3.27% $9,888
DHI MORTGAGE COMPANY, LTD. 156 2.87% $7,849
PRIMARY RESIDENTIAL MORTGAGE, INC. 136 3.57% $11,252
BROKER SOLUTIONS, INC. 126 3.23% $9,174
SECURITYNATIONAL MORTGAGE COMPANY 120 3.21% $10,037
Mr. Cooper ( Nationstar Mortgage ) 106 3.23% $4,678
HAMILTON HOME LOANS, INC. 98 3.23% $9,308
Lakeview Community Capital, LLC 95 3.08% $4,413
AMERICAN FINANCIAL NETWORK, INC. 88 2.99% $14,057
FBC MORTGAGE, LLC 86 3.22% $8,439
NEWREZ LLC 81 2.93% $8,253
MOVEMENT MORTGAGE, LLC 79 3.14% $9,489
GENEVA FINANCIAL, LLC 68 3.14% $10,283
CALCON MUTUAL MORTGAGE LLC 63 3.98% $8,482
MORTGAGE 1 INCORPORATED 60 3.28% $10,025
Eagle Bank and Trust Company 60 3.14% $7,794
HOME POINT FINANCIAL CORPORATION 59 2.75% $8,905
OCMBC, INC. 51 2.92% $7,896
Carrington Mortgage Services, LLC 48 3.23% $10,192
EAGLE HOME MORTGAGE, LLC 47 3.40% $9,553
AmeriHome Mortgage Company, LLC 47 2.88% $4,501
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 42 3.42% $9,772
FINANCE OF AMERICA MORTGAGE LLC 41 3.10% $9,261
Equity Prime Mortgage LLC 39 3.32% $9,206
HOMEBRIDGE FINANCIAL SERVICES, INC. 38 2.89% $8,256
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 34 3.21% $8,952
LENDUS, LLC 29 3.21% $9,197
VILLAGE CAPITAL MORTGAGE 27 2.92% $3,312
PULTE MORTGAGE LLC 26 3.17% $6,215
PLAZA HOME MORTGAGE, INC. 25 2.93% $9,481
VAN DYK MORTGAGE CORPORATION 25 3.26% $7,613
CITY FIRST MORTGAGE SERVICES, L.L.C. 24 3.04% $9,558
AMCAP MORTGAGE, LTD. 23 3.36% $11,380
PLANET HOME LENDING, LLC 22 2.94% $5,620
First Guaranty Mortgage Corporation 21 3.04% $6,694
Nations Lending Corporation 20 3.28% $7,935
PANORAMA MORTGAGE GROUP, LLC 20 3.47% $10,802
AMERISAVE MORTGAGE CORPORATION 19 3.05% $9,422
AMERICAN PACIFIC MORTGAGE CORPORATION 19 3.25% $9,254
Flagstar Bank, FSB 19 2.85% $8,627
LAND HOME FINANCIAL SERVICES, INC. 18 3.27% $9,264
EVERETT FINANCIAL, INC. 18 4.03% $8,258
NORWICH COMMERCIAL GROUP, INC. 17 3.42% $9,721
Hometown Lenders, Inc. 16 3.38% $10,352
First Horizon Bank 15 3.03% $8,563
CMG MORTGAGE, INC. 15 3.24% $10,592
MORTGAGE SOLUTIONS OF COLORADO, LLC 15 2.84% $8,959
GUARANTEED RATE, INC. 14 2.94% $9,417
Bank of America 13 2.99% $7,231
Summit Mortgage Corporation 12 2.73% $9,826
InterContinental Capital Group, Inc 12 3.04% $7,953
NATIONS DIRECT MORTGAGE, LLC 11 3.15% $12,026
Citizens Bank 11 2.64% $7,655
Waterstone Mortgage Corporation 11 3.45% $9,904
ENVOY MORTGAGE, LTD 11 2.81% $9,950
Bank of England 10 3.21% $10,130
THE EQUITABLE MORTGAGE CORPORATION 10 3.04% $8,184
READY MORTGAGE LENDERS, LLC 10 3.30% $12,475
INSPIRE HOME LOANS INC. 10 3.33% $7,671
OCEANSIDE MORTGAGE COMPANY 10 2.87% $3,598
SUN WEST MORTGAGE COMPANY, INC. 9 2.96% $9,136
Hometown Equity Mortgage, LLC 9 3.19% $8,011
GUARANTEED RATE AFFINITY, LLC 9 3.01% $8,524
ARK-LA-TEX FINANCIAL SERVICES, LLC. 9 2.72% $5,954
Prosperity Home Mortgage, LLC 8 3.22% $7,295
AMERICAN FINANCING CORPORATION 8 2.63% $8,185
HOMESPIRE MORTGAGE CORPORATION 8 2.95% $8,509
HOMESIDE FINANCIAL, LLC 8 2.86% $9,150
Mortgage Lenders Investment Trading Corporation 8 3.55% $5,327
The Federal Savings Bank 8 3.03% $7,720
ABSOLUTE HOME MORTGAGE CORPORATION 8 3.16% $9,476
INLANTA MORTGAGE, INC. 7 2.89% $7,759
First Federal Bank 7 2.77% $8,652
South State Bank 7 2.86% $10,395
Valley National Bank 7 2.86% $8,688
Northpointe Bank 7 3.25% $8,715
ACADEMY MORTGAGE CORPORATION 7 3.23% $9,365
COLUMBUS CAPITAL LENDING, LLC 7 3.07% $11,341
TJC Mortgage, Inc. 7 3.14% $8,090
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 7 2.96% $10,804
NATIONWIDE MORTGAGE BANKERS, INC. 6 3.04% $9,598
SUCCESS MORTGAGE PARTNERS, INC. 6 3.02% $8,281
CELEBRITY HOME LOANS, LLC 6 3.08% $8,095
Barrington Bank & Trust Company, N.A. 6 3.42% $7,547
MUTUAL OF OMAHA MORTGAGE, INC. 6 2.94% $7,855
GUILD MORTGAGE COMPANY 6 3.02% $9,816
TOP FLITE FINANCIAL, INC. 6 3.38% $12,394
KBHS HOME LOANS, LLC 6 3.14% $8,661
Commerce Home Mortgage, Inc. 5 3.25% $8,283
LAKE MICHIGAN CREDIT UNION 5 2.80% $8,821
SHELTER MORTGAGE COMPANY, L.L.C. 5 2.77% $9,506
MICHIGAN MUTUAL, INC. 5 3.30% $10,546
THE MORTGAGE FIRM, INC. 5 3.30% $8,053
LOANPAL, LLC 4 2.50% $10,612
JPMorgan Chase Bank 4 3.00% $8,933
Wells Fargo Bank 4 3.13% $5,599
RESIDENTIAL BANCORP. 4 2.71% $9,513
M&T Bank 4 3.13% $7,137
UNITED MORTGAGE CORP. 4 3.06% $9,227
NATIONS RELIABLE LENDING, LLC 4 3.25% $11,508
FIRST EQUITY MORTGAGE BANKERS, INC. 4 3.09% $10,626
BAY EQUITY LLC 4 2.94% $10,166
The Home Loan Expert LLC 4 3.50% $8,380
Ixonia Bank 3 3.50% $9,518
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 3.17% $9,235
STEARNS LENDING, LLC 3 2.66% $8,568
AMERICAN MORTGAGE SERVICE COMPANY 3 2.46% $8,991
Plains Commerce Bank 3 3.38% $8,121
GSF Mortgage Corporation 3 3.92% $14,522
PHH Mortgage Corporation 3 3.67% $4,517
Regions Bank 3 2.71% $9,260
MORTGAGE EQUITY PARTNERS LLC 3 3.13% $9,418
Financial Freedom Mortgage, LLC 3 3.04% $10,020
DRAPER AND KRAMER MORTGAGE CORP. 3 2.96% $8,140
PARKSIDE LENDING, LLC 3 2.83% $7,690
UNION HOME MORTGAGE CORP. 3 2.71% $10,325
BECKAM FUNDING CORP. 3 3.79% $15,696
FAIRWAY FUNDING GROUP, INC. 3 2.75% $8,578
CONTOUR MORTGAGE CORPORATION 3 3.08% $9,509
EMBRACE HOME LOANS, INC. 3 2.66% $9,877
ARC HOME LLC 3 3.00% $10,221
1ST FINANCIAL, INC. 2 3.44% $11,033
A&D Mortgage LLC 2 2.94% $8,592
Allied First Bank,sb 2 2.75% $7,666
ALLIED MORTGAGE GROUP, INC. 2 2.56% $11,357
AMERICAN FINANCIAL RESOURCES, INC. 2 3.19% $8,149
Ameris Bank 2 2.63% $7,675
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 3.50% $11,009
BAYSHORE MORTGAGE FUNDING, LLC 2 3.25% $9,272
BETTER MORTGAGE CORPORATION 2 2.81% $7,521
Century Mortgage Company DBA Century Lending Company 2 2.69% $15,304
CHURCHILL MORTGAGE CORPORATION 2 2.94% $9,165
Colten Mortgage, LLC 2 3.06% $4,495
COMPASS MORTGAGE, INC. 2 2.69% $10,439
EMM LOANS LLC 2 3.50% $7,030
Fifth Third Bank 2 2.88% $8,675
First Home Bank 2 2.88% $11,527
First Option Mortgage, LLC 2 3.50% $9,946
First Savings Bank 2 3.19% $5,558
FLAT BRANCH MORTGAGE, INC. 2 3.56% $8,448
JMAC LENDING, INC. 2 3.19% $6,247
KELLER MORTGAGE, LLC 2 2.25% $7,332
LADERA LENDING, INC. 2 3.00% $7,139
LEADERONE FINANCIAL CORPORATION 2 3.38% $9,227
Low VA Rates, LLC 2 2.94% $4,651
MATTAMY HOME FUNDING, LLC 2 3.06% $9,676
MILEND, INC. 2 2.88% $11,176
MORIA DEVELOPMENT, INC. 2 3.50% $6,369
NP, Inc. 2 2.75% $10,834
RELIANCE FIRST CAPITAL, LLC 2 3.31% $11,378
RESIDENTIAL HOME FUNDING CORP. 2 3.19% $13,192
Residential Mortgage Solutions, Inc. 2 2.75% $7,599
ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 3.00% $12,368
SIGNATURE MORTGAGE CORPORATION 2 3.31% $8,108
SOVEREIGN LENDING GROUP INCORPORATED 2 3.50% $9,989
The Huntington National Bank 2 3.19% $7,269
ZILLOW HOME LOANS, LLC 2 3.31% $7,002
NEW FED MORTGAGE, CORP. 1 2.38% $10,994
Keystone Funding, Inc. 1 2.99% $0
NJ LENDERS CORP. 1 3.50% $11,265
JAMES B. NUTTER & COMPANY 1 2.75% $2,810
NORTHPOINT MORTGAGE, INC. 1 2.38% $11,018
INTERNATIONAL CITY MORTGAGE, INC. 1 4.38% $11,212
NOVA FINANCIAL & INVESTMENT CORPORATION 1 3.13% $5,197
VANDERBILT MORTGAGE AND FINANCE, INC. 1 3.63% $7,453
NTFN, INC. 1 3.13% $9,378
INTERLINC MORTGAGE SERVICES, LLC 1 2.63% $9,436
INTERCOASTAL MORTGAGE COMPANY 1 2.63% $9,366
Huntingdon Valley Bank 1 2.75% $10,491
Paramount Bank 1 2.88% $9,166
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 3.13% $8,394
Home Mortgage Alliance Corp 1 2.50% $9,104
HOME FINANCING CENTER, INC. 1 3.50% $10,212
GUARANTY HOME MORTGAGE CORPORATION 1 2.50% $7,931
GREENTREE MORTGAGE COMPANY, L.P. 1 2.50% $8,333
GREAT WESTERN FINANCIAL SERVICES, INC. 1 3.00% $6,510
Goldwater Bank, N.A. 1 3.63% $7,544
GERSHMAN INVESTMENT CORP. 1 4.75% $9,721
Prime Choice Funding Inc. 1 3.25% $7,451
FOUNDATION MORTGAGE CORPORATION 1 2.50% $11,997
First PREMIER Bank 1 2.75% $7,834
First Mortgage Solutions, LLC 1 2.38% $7,814
First Internet Bank of Indiana 1 2.75% $8,229
FIRST HOME MORTGAGE CORPORATION 1 2.63% $7,632
FirstBank 1 2.75% $8,883
American Momentum Bank 1 3.75% $8,544
FIDELITY FUNDING MORTGAGE CORP. 1 2.25% $5,030
ALL WESTERN MORTGAGE, INC. 1 4.50% $7,251
V.I.P. MORTGAGE, INC. 1 2.63% $4,393
ACOPIA, LLC 1 2.63% $11,511
RUOFF MORTGAGE COMPANY, INC. 1 3.50% $8,909
Seacoast National Bank 1 2.25% $8,709
FAY SERVICING, LLC 1 2.75% $7,933
Evolve Bank & Trust 1 3.25% $11,859
Sierra Pacific Mortgage Company, Inc. 1 2.88% $9,186
1ST SIGNATURE LENDING, LLC 1 3.13% $6,146
SOUTHPOINT FINANCIAL SERVICES, INC. 1 2.88% $5,746
Evesham Mortgage, LLC 1 3.50% $8,532
Wolfe Financial, Inc 1 3.25% $11,370
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 3.38% $8,323
Stifel Bank and Trust 1 3.00% $7,540
STOCKTON MORTGAGE CORPORATION 1 2.25% $6,431
Strong Home Mortgage, LLC 1 2.50% $6,299
CROSSFIRE FINANCIAL NETWORK, INC. 1 2.75% $10,262
CRESCENT MORTGAGE COMPANY 1 2.75% $5,672
Chicago Financial Services, Inc. 1 2.88% $8,346
SWBC MORTGAGE CORPORATION 1 2.75% $6,735
Synovus Bank 1 3.63% $9,580
The Central Trust Bank 1 2.88% $8,486
CAPITAL PARTNERS MORTGAGE, LLC 1 3.63% $10,282
Bethpage Federal Credit Union 1 3.13% $2,104
Bell Bank 1 3.25% $6,111
Wyndham Capital Mortgage, Inc. 1 2.25% $9,964
THE MORTGAGE COMPANY 1 3.00% $8,191
BBVA USA 1 2.75% $9,328
THE MORTGAGE WAREHOUSE,LLC 1 2.88% $10,502
THRIVE MORTGAGE, LLC 1 3.75% $13,133
ASSOCIATED MORTGAGE BANKERS, INC. 1 3.50% $8,943
ASPIRE FINANCIAL, INC. 1 2.25% $6,776
TOTAL MORTGAGE SERVICES, LLC 1 3.25% $14,705
Towne Bank 1 2.88% $7,600
Trust Mortgage Lending 1 3.75% $14,686
Armed Forces Bank 1 3.00% $9,303
Amerifirst Financial, Inc. 1 2.38% $5,620
AMERIFIRST FINANCIAL CORPORATION 1 2.38% $9,627
UNIVERSITY LENDING GROUP, LLC 1 2.63% $19,313
US MORTGAGE CORPORATION 1 3.13% $15,248
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.25% $11,973
Mortgage Research Center, LLC 1 2.63% $7,668
NATION ONE MORTGAGE CORPORATION 1 3.63% $13,590
MID AMERICA MORTGAGE, INC. 1 3.00% $8,732
MCLEAN MORTGAGE CORPORATION 1 3.50% $11,640
Magnolia Bank 1 2.25% $10,459
LOANLEADERS OF AMERICA, INC. 1 2.50% $5,541
NBKC BANK 1 2.75% $8,438
Neighborhood Loans, Inc. 1 2.88% $9,953
Network Funding, L.P. 1 2.75% $9,559

The top Cape Coral FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 480 FHA loans originated. Their average total fees are $6,520, which is $3,233 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

The lowest fee Cape Coral FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($3,312), OCEANSIDE MORTGAGE COMPANY ($3,598), Lakeview Community Capital, LLC ($4,413), AmeriHome Mortgage Company, LLC ($4,501) and LAKEVIEW LOAN SERVICING, LLC ($4,676).

The lowest rate Cape Coral FHA lenders (with over 10 loans originated) are Citizens Bank (2.64%), QUICKEN LOANS, LLC (2.71%), Summit Mortgage Corporation (2.73%), UNITED WHOLESALE MORTGAGE, LLC (2.74%) and HOME POINT FINANCIAL CORPORATION (2.75%).

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

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%) $485,828 (1.7%) 1.09 9,579
2018-03-01 $299,900 (-0.9%) $483,500 (1.9%) 1.05 9,690
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%) 0.98 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 (0.2%) 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%) $477,659 (-0.6%) 1.02 10,451
2019-02-01 $298,400 (-0.5%) $478,050 (-1.6%) 1.01 11,074
2019-03-01 $298,786 (-0.4%) $480,602 (-0.6%) 0.98 10,789
2019-04-01 $298,345 (-0.5%) $478,561 (-1.0%) 0.95 10,329
2019-05-01 $295,000 (-1.3%) $475,917 (-0.9%) 0.92 9,633
2019-06-01 $292,500 (-0.8%) $473,196 (-0.5%) 0.91 8,843
2019-07-01 $291,475 (-1.2%) $467,969 (-0.3%) 0.91 8,291
2019-08-01 $294,600 (1.7%) $465,939 (0.9%) 0.93 7,981
2019-09-01 $297,075 (2.8%) $464,999 (1.4%) 0.95 7,832
2019-10-01 $299,000 (3.1%) $466,604 (0.7%) 0.96 7,763
2019-11-01 $299,900 (0.5%) $483,589 (2.6%) 0.98 8,016
2019-12-01 $302,448 (2.6%) $496,071 (5.3%) 1.01 8,051
2020-01-01 $306,995 (4.3%) $505,619 (5.9%) 1.03 8,227
2020-02-01 $316,420 (6.0%) $518,051 (8.4%) 1.03 8,209
2020-03-01 $319,973 (7.1%) $520,929 (8.4%) 1.00 7,993
2020-04-01 $314,500 (5.4%) $506,151 (5.8%) 0.98 7,811
2020-05-01 $319,000 (8.1%) $514,076 (8.0%) 0.97 7,208
2020-06-01 $324,950 (11.1%) $531,276 (12.3%) 0.96 6,505
2020-07-01 $325,000 (11.5%) $547,534 (17.0%) 0.94 5,919
2020-08-01 $325,000 (10.3%) $551,751 (18.4%) 0.93 5,453
2020-09-01 $322,500 (8.6%) $558,948 (20.2%) 0.92 5,102
2020-10-01 $325,000 (8.7%) $564,422 (21.0%) 0.93 4,862
2020-11-01 $324,900 (8.3%) $572,850 (18.5%) 0.95 4,603
2020-12-01 $323,663 (7.0%) $578,254 (16.6%) 0.96 4,362
2021-01-01 $319,900 (4.2%) $588,208 (16.3%) 0.95 3,817
2021-02-01 $320,554 (1.3%) $605,048 (16.8%) 0.93 2,932
2021-03-01 $332,950 (4.1%) $632,248 (21.4%) 0.94 2,144
2021-04-01 $349,450 (11.1%) $642,351 (26.9%) 0.95 1,934
2021-05-01 $362,000 (13.5%) $665,968 (29.6%) 0.96 1,673
2021-06-01 $369,999 (13.9%) $674,634 (27.0%) 0.97 1,815
2021-07-01 $375,000 (15.4%) $652,682 (19.2%) 0.99 1,888
2021-08-01 $393,925 (21.2%) $676,109 (22.5%) 1.05 1,959
2021-09-01 $399,000 (23.7%) $679,257 (21.5%) 1.06 1,984
2021-10-01 $424,900 (30.7%) $703,195 (24.6%) 1.13 1,938
2021-11-01 $429,100 (32.1%) $736,482 (28.6%) 1.15 1,864
2021-12-01 $435,945 (34.7%) $728,574 (26.0%) 1.18 1,831
2022-01-01 $429,950 (34.4%) $740,979 (26.0%) 1.16 1,646
2022-02-01 $464,950 (45.1%) $786,439 (30.0%) 1.21 1,543
2022-03-01 $487,000 (46.3%) $784,996 (24.2%) 1.22 1,691
2022-04-01 $495,000 (41.7%) $786,827 (22.5%) 1.18 1,983
2022-05-01 $499,000 (37.9%) $780,855 (17.3%) 1.14 2,534
2022-06-01 $499,450 (35.0%) $768,721 (14.0%) 1.11 3,227
2022-07-01 $485,000 (29.3%) $746,699 (14.4%) 1.10 3,930
2022-08-01 $475,000 (20.6%) $720,125 (6.5%) 1.10 4,208
2022-09-01 $464,850 (16.5%) $711,320 (4.7%) 1.09 4,239
2022-10-01 $459,950 (8.3%) $698,578 (-0.7%) 1.08 3,860
2022-11-01 $459,950 (7.2%) $710,564 (-3.5%) 1.11 3,969
Cape Coral's median listing price for 2022-11-01 was $459,950, a difference of $30,850 (7.2%) versus the prior year and $0 versus the prior month.

Cape Coral's median listing price comes in at 111% of the national average.

Cape Coral's average listing price for 2022-11-01 was $710,564, a difference of $-25,918 (-3.5%) versus the prior year and $11,986 versus the prior month.

For the 2022-11-01 period, Cape Coral had 3,969 MLS listings, a difference of 109 listings (3%) versus the prior month and 2,105 listings (113%) 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 71 days 1,785 sqft
2018-02-01 70 days 1,789 sqft
2018-03-01 67 days 1,789 sqft
2018-04-01 76 days 1,795 sqft
2018-05-01 81 days 1,787 sqft
2018-06-01 87 days 1,784 sqft
2018-07-01 91 days 1,785 sqft
2018-08-01 93 days 1,775 sqft
2018-09-01 92 days 1,772 sqft
2018-10-01 84 days 1,769 sqft
2018-11-01 78 days 1,767 sqft
2018-12-01 75 days 1,755 sqft
2019-01-01 80 days 1,756 sqft
2019-02-01 80 days 1,759 sqft
2019-03-01 82 days 1,761 sqft
2019-04-01 85 days 1,757 sqft
2019-05-01 92 days 1,753 sqft
2019-06-01 96 days 1,755 sqft
2019-07-01 99 days 1,756 sqft
2019-08-01 95 days 1,755 sqft
2019-09-01 90 days 1,755 sqft
2019-10-01 85 days 1,757 sqft
2019-11-01 75 days 1,763 sqft
2019-12-01 77 days 1,777 sqft
2020-01-01 80 days 1,778 sqft
2020-02-01 79 days 1,788 sqft
2020-03-01 73 days 1,793 sqft
2020-04-01 83 days 1,772 sqft
2020-05-01 92 days 1,796 sqft
2020-06-01 101 days 1,788 sqft
2020-07-01 105 days 1,773 sqft
2020-08-01 85 days 1,758 sqft
2020-09-01 83 days 1,752 sqft
2020-10-01 73 days 1,756 sqft
2020-11-01 67 days 1,738 sqft
2020-12-01 68 days 1,734 sqft
2021-01-01 67 days 1,722 sqft
2021-02-01 56 days 1,694 sqft
2021-03-01 51 days 1,696 sqft
2021-04-01 44 days 1,707 sqft
2021-05-01 41 days 1,722 sqft
2021-06-01 39 days 1,745 sqft
2021-07-01 42 days 1,747 sqft
2021-08-01 50 days 1,764 sqft
2021-09-01 52 days 1,765 sqft
2021-10-01 50 days 1,781 sqft
2021-11-01 50 days 1,777 sqft
2021-12-01 51 days 1,758 sqft
2022-01-01 52 days 1,753 sqft
2022-02-01 34 days 1,762 sqft
2022-03-01 30 days 1,759 sqft
2022-04-01 31 days 1,770 sqft
2022-05-01 32 days 1,756 sqft
2022-06-01 36 days 1,758 sqft
2022-07-01 41 days 1,756 sqft
2022-08-01 49 days 1,752 sqft
2022-09-01 56 days 1,757 sqft
2022-10-01 67 days 1,769 sqft
2022-11-01 75 days 1,765 sqft
Cape Coral's median listing age (time on market) for 2022-11-01 was 75 days. This is 49% longer than the same period one year ago.

Cape Coral's median square footage for active listings during the 2022-11-01 period was 1,765 sqft. One year prior, the average listing was 1,777 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).