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 205 lenders originated 4,085 FHA loans during 2023. The total origination value was $1,364,135,000, with an average FHA loan value of $333,938.

Cape Coral FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Cape Coral averaged 6.57% for the week of 2024-07-12, compared to the national average (all FHA variants) of 6.655% for the same period.

Cape Coral's average FHA mortgage closing costs are $9,554.

The average rate for the prior week (2024-07-05) was 6.94% and one month ago for the week of 2024-06-07, the average rate was 6.61%.

The average rate one year ago was 6.71%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.93%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 626 6.38% $15,047
CROSSCOUNTRY MORTGAGE, LLC 260 6.83% $15,511
LOANDEPOT.COM, LLC 256 6.49% $13,384
QUICKEN LOANS, LLC 254 6.24% $14,231
DHI MORTGAGE COMPANY, LTD. 166 5.54% $10,253
EAGLE HOME MORTGAGE, LLC 150 6.15% $12,500
AMERICAN PACIFIC MORTGAGE CORPORATION 145 6.61% $16,750
CARDINAL FINANCIAL 122 6.40% $16,358
Paramount Residential Mortgage Group, Inc. 96 6.69% $15,711
FREEDOM MORTGAGE CORPORATION 82 6.43% $17,088
BROKER SOLUTIONS, INC. 76 6.54% $16,334
GENEVA FINANCIAL, LLC 71 6.57% $18,483
PENNYMAC LOAN SERVICES, LLC 61 6.18% $15,912
AMERICAN FINANCIAL NETWORK, INC. 60 6.89% $15,674
NEWREZ LLC 60 6.56% $15,087
MOVEMENT MORTGAGE, LLC 57 6.64% $14,180
EVERETT FINANCIAL, INC. 56 6.71% $15,139
HOMESIDE FINANCIAL, LLC 46 6.67% $15,034
BAY EQUITY LLC 45 6.55% $16,212
FBC MORTGAGE, LLC 45 6.48% $13,884
EMBRACE HOME LOANS, INC. 40 6.30% $14,008
SECURITYNATIONAL MORTGAGE COMPANY 34 7.03% $20,454
Sierra Pacific Mortgage Company, Inc. 33 6.31% $15,694
MORTGAGE 1 INCORPORATED 33 6.33% $12,981
Flagstar Bank, FSB 32 6.42% $14,190
PLAZA HOME MORTGAGE, INC. 31 6.40% $17,917
OCMBC, INC. 30 6.48% $16,867
Carrington Mortgage Services, LLC 29 6.44% $14,875
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 28 6.74% $16,813
READY MORTGAGE LENDERS, LLC 26 6.81% $16,078
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 24 7.03% $11,949
American Mortgage & Equity Consultants, Inc. 23 6.71% $16,896
SUN WEST MORTGAGE COMPANY, INC. 22 6.64% $15,506
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 22 6.79% $14,652
Century Mortgage Company DBA Century Lending Company 18 6.52% $17,022
Plains Commerce Bank 16 6.23% $16,401
Mr. Cooper ( Nationstar Mortgage ) 14 5.86% $17,815
GUARANTEED RATE, INC. 14 6.47% $17,474
MY MORTGAGE, INC. 14 6.54% $15,841
KBHS HOME LOANS, LLC 14 5.63% $13,271
INSPIRE HOME LOANS INC. 14 6.24% $11,185
Equity Prime Mortgage LLC 14 6.71% $14,716
NATIONS RELIABLE LENDING, LLC 13 6.68% $18,988
PRIMARY RESIDENTIAL MORTGAGE, INC. 12 6.71% $15,491
Waterstone Mortgage Corporation 12 6.95% $13,315
AMCAP MORTGAGE, LTD. 11 7.25% $16,744
LAKEVIEW LOAN SERVICING, LLC 11 5.99% $15,254
Cornerstone First Mortgage, Inc 11 6.80% $15,709
NATIONWIDE MORTGAGE BANKERS, INC. 11 6.97% $15,375
GUARANTEED RATE AFFINITY, LLC 10 6.35% $14,327
TJC Mortgage, Inc. 10 6.35% $14,217
ABSOLUTE HOME MORTGAGE CORPORATION 9 6.21% $16,873
HOMEBRIDGE FINANCIAL SERVICES, INC. 9 6.39% $13,738
VAN DYK MORTGAGE CORPORATION 9 6.74% $12,795
AMERISAVE MORTGAGE CORPORATION 9 5.99% $16,076
HOMEOWNERS FINANCIAL GROUP USA, LLC 9 6.50% $15,695
Keystone Funding, Inc. 9 6.14% $17,731
LOANPAL, LLC 9 5.85% $13,895
BELEM SERVICING LLC 8 6.64% $15,977
Prosperity Home Mortgage, LLC 8 6.48% $12,002
MORTGAGE EQUITY PARTNERS LLC 8 6.44% $12,959
Bank of England 8 6.84% $14,228
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 8 6.53% $13,085
CMG MORTGAGE, INC. 7 6.71% $14,109
Ixonia Bank 7 6.91% $14,677
TOWNE MORTGAGE COMPANY 7 5.98% $13,968
ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 6.29% $16,206
ZILLOW HOME LOANS, LLC 7 6.09% $15,442
CALIBER HOME LOANS, INC. 7 6.41% $12,416
VILLAGE CAPITAL MORTGAGE 7 6.24% $14,995
PULTE MORTGAGE LLC 7 6.59% $11,204
LAKE MICHIGAN CREDIT UNION 6 6.00% $13,585
Regions Bank 6 6.44% $11,483
THE EQUITABLE MORTGAGE CORPORATION 6 6.98% $11,196
The Federal Savings Bank 6 6.60% $17,918
THE MORTGAGE FIRM, INC. 6 6.98% $15,409
UNION HOME MORTGAGE CORP. 6 7.19% $13,407
MUTUAL OF OMAHA MORTGAGE, INC. 6 6.58% $18,835
FIRST COMMUNITY MORTGAGE, INC. 6 7.23% $11,201
Northpointe Bank 6 6.73% $12,077
NATIONS DIRECT MORTGAGE, LLC 5 6.60% $14,279
TOP FLITE FINANCIAL, INC. 5 7.00% $15,455
MICHIGAN MUTUAL, INC. 5 5.78% $15,010
Loan Simple, Inc. 5 6.95% $13,466
Summit Mortgage Corporation 5 6.37% $16,167
JPMorgan Chase Bank 5 6.42% $6,327
Lakeview Community Capital, LLC 4 6.38% $12,832
AMERICAN FINANCING CORPORATION 4 6.34% $11,050
Bank of America 4 6.78% $14,630
Barrington Bank & Trust Company, N.A. 4 6.63% $13,306
BECKAM FUNDING CORP. 4 7.22% $20,172
CHURCHILL MORTGAGE CORPORATION 4 6.38% $14,274
Citizens Bank 4 6.22% $14,831
FAIRWAY FUNDING GROUP, INC. 4 6.69% $15,622
First Horizon Bank 4 6.09% $14,308
FIRST MORTGAGE COMPANY, INC. 4 6.28% $18,733
GSF Mortgage Corporation 4 6.38% $11,511
1ST FINANCIAL, INC. 4 7.19% $15,819
LAND HOME FINANCIAL SERVICES, INC. 4 6.81% $13,650
Nations Lending Corporation 4 7.50% $10,416
NORWICH COMMERCIAL GROUP, INC. 4 6.19% $13,307
PLANET HOME LENDING, LLC 4 5.75% $8,205
South Pacific Financial Corporation 4 6.13% $11,520
Strong Home Mortgage, LLC 4 6.59% $11,158
Synovus Bank 4 6.31% $11,348
TOTAL MORTGAGE SERVICES, LLC 4 6.38% $15,182
STOCKTON MORTGAGE CORPORATION 3 6.67% $11,094
NP, Inc. 3 6.88% $15,919
Neighborhood Loans, Inc. 3 6.21% $24,749
MATTAMY HOME FUNDING, LLC 3 5.12% $13,702
PANORAMA MORTGAGE GROUP, LLC 3 6.96% $16,150
RELIANCE FIRST CAPITAL, LLC 3 6.17% $18,728
RESIDENTIAL BANCORP 3 6.88% $12,519
EMM LOANS LLC 3 6.04% $16,998
ROYAL UNITED MORTGAGE LLC 3 6.50% $19,596
Premium Mortgage Corporation 3 7.00% $15,045
Hometown Equity Mortgage, LLC 3 6.00% $22,227
Mortgage Research Center, LLC 3 6.96% $7,536
THE MORTGAGE WAREHOUSE,LLC 3 6.71% $13,200
TIDEWATER MORTGAGE SERVICES, INC. 3 6.46% $15,555
GEO-CORP, INC. 3 7.50% $19,981
South State Bank 3 6.29% $14,321
AMERICAN BANCSHARES MORTGAGE 3 6.83% $16,219
U.S. Bank 2 6.56% $9,416
FIRST EQUITY MORTGAGE BANKERS, INC. 2 6.81% $14,646
VERITAS FUNDING, LLC 2 6.56% $12,565
LEADERONE FINANCIAL CORPORATION 2 6.50% $14,375
PNC Bank 2 6.63% $9,341
POINT Mortgage 2 6.88% $14,855
BETTER MORTGAGE CORPORATION 2 6.56% $15,069
Wells Fargo Bank 2 5.81% $11,994
THE ANDERSON FINANCIAL GROUP, INC. 2 6.63% $12,320
AMERICAN FINANCIAL RESOURCES, INC. 2 7.00% $11,043
Centennial Bank 2 6.94% $12,445
AXIA FINANCIAL, LLC 2 7.19% $18,220
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 7.13% $13,457
ENDEAVOR CAPITAL, LLC. 2 6.31% $14,645
ACADEMY MORTGAGE CORPORATION 2 6.63% $17,604
First Option Mortgage, LLC 2 6.50% $17,531
AMERICAN PORTFOLIO MORTGAGE CORPORATION 2 5.88% $14,423
NETWORK CAPITAL FUNDING CORPORATION 2 5.63% $7,866
LADERA LENDING, INC. 2 6.19% $18,704
First Federal Bank 2 5.75% $13,306
Busey Bank 1 6.75% $10,786
Servion, Inc. 1 6.63% $11,148
SHELTER MORTGAGE COMPANY, L.L.C. 1 5.63% $22,924
BM Real Estate Services, Inc. 1 6.13% $16,366
SOUTHPOINT FINANCIAL SERVICES, INC. 1 5.25% $8,970
AHL FUNDING 1 7.25% $21,975
SUCCESS MORTGAGE PARTNERS, INC. 1 6.50% $18,786
Bell Bank 1 5.75% $15,460
T2 FINANCIAL LLC 1 5.63% $19,810
The Central Trust Bank 1 7.13% $10,809
BAYSHORE MORTGAGE FUNDING, LLC 1 6.63% $12,183
BancorpSouth 1 7.00% $8,577
The Huntington National Bank 1 6.63% $11,677
Associated Bank 1 6.25% $11,927
AmeriHome Mortgage Company, LLC 1 5.99% $10,983
TruHome Solutions, LLC 1 6.13% $8,422
Legends Bank 1 5.75% $17,472
UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 5.63% $23,216
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 6.00% $12,771
University Bank 1 5.75% $10,032
JMAC LENDING, INC. 1 8.13% $18,953
INTERCAP LENDING INC. 1 6.63% $14,824
HOMESTEAD FUNDING CORP. 1 6.75% $6,978
HOME FINANCING CENTER, INC. 1 7.63% $22,141
US MORTGAGE CORPORATION 1 7.13% $8,801
United Fidelity Funding Corp. 1 7.50% $10,192
GVC MORTGAGE, INC. 1 7.13% $12,401
LOANLEADERS OF AMERICA, INC. 1 5.50% $11,595
GREENWAY MORTGAGE FUNDING CORP. 1 6.13% $11,706
GREENTREE MORTGAGE COMPANY, L.P. 1 7.13% $10,372
Magnolia Bank 1 6.75% $11,746
Goldwater Bank, N.A. 1 7.25% $11,453
MID AMERICA MORTGAGE, INC. 1 7.63% $14,589
Gateway First Bank 1 7.75% $16,939
MORTGAGE INVESTORS GROUP, INC. 1 6.63% $11,266
Mortgage Lenders Investment Trading Corporation 1 6.75% $10,850
FM Home Loans, LLC 1 6.75% $11,398
First Savings Bank 1 7.25% $26,830
Valley National Bank 1 6.75% $10,919
First Commonwealth Bank 1 6.25% $10,791
FIRST ALLIANCE HOME MORTGAGE, LLC 1 7.50% $16,663
NBKC BANK 1 5.63% $12,475
Fifth Third Bank 1 6.25% $10,514
NFM, INC. 1 5.63% $13,211
NJ LENDERS CORP. 1 5.75% $11,849
FIDELITY BANK 1 6.63% $23,842
NTFN, INC. 1 7.13% $12,756
ON Q FINANCIAL, INC. 1 6.25% $15,996
OPEN MORTGAGE, LLC 1 6.00% $11,029
East Coast Capital Corp. 1 7.13% $15,961
PHH Mortgage Corporation 1 6.99% $13,078
DRAPER AND KRAMER MORTGAGE CORP. 1 6.75% $11,747
DG PINNACLE FUNDING LLC 1 7.25% $12,458
DELMAR FINANCIAL COMPANY 1 7.38% $12,463
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $14,614
CONTOUR MORTGAGE CORPORATION 1 7.13% $19,618
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.25% $12,813
RADIUS FINANCIAL GROUP INC. 1 7.13% $10,035
RAPID MORTGAGE COMPANY 1 7.50% $11,008
CANOPY MORTGAGE, LLC 1 6.25% $13,355
Cambria Financial Group, LLC 1 7.25% $9,308
Ross Mortgage Company, Inc. 1 7.63% $10,289

The top Cape Coral FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 626 FHA loans originated. Their average total fees are $15,047, which is $464 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

The lowest fee Cape Coral FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($10,253), INSPIRE HOME LOANS INC. ($11,185), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($11,949), EAGLE HOME MORTGAGE, LLC ($12,500) and MORTGAGE 1 INCORPORATED ($12,981).

The lowest rate Cape Coral FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.54%), KBHS HOME LOANS, LLC (5.63%), Mr. Cooper ( Nationstar Mortgage ) (5.86%), LAKEVIEW LOAN SERVICING, LLC (5.99%) and EAGLE HOME MORTGAGE, LLC (6.15%).

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
2024-02-01 $477,000 (-0.5%) $740,771 (0.5%) 1.15 9,886
2024-03-01 $474,100 (-4.9%) $746,315 (-0.6%) 1.12 10,287
2024-04-01 $469,450 (-5.9%) $742,840 (-1.0%) 1.09 10,314
2024-05-01 $461,750 (-6.6%) $743,685 (-0.7%) 1.04 10,108
2024-06-01 $459,000 (-5.7%) $737,638 (0.2%) 1.03 9,880
Cape Coral's median listing price for 2024-06-01 was $459,000, a difference of $-27,750 (-5.7%) versus the prior year and $-2,750 versus the prior month.

Cape Coral's median listing price comes in at 103% of the national average.

Cape Coral's average listing price for 2024-06-01 was $737,638, a difference of $1,601 (0.2%) versus the prior year and $-6,047 versus the prior month.

For the 2024-06-01 period, Cape Coral had 9,880 MLS listings, a difference of -228 listings (-2%) versus the prior month and 4,064 listings (70%) 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
2024-02-01 67 days 1,748 sqft
2024-03-01 64 days 1,744 sqft
2024-04-01 72 days 1,734 sqft
2024-05-01 72 days 1,726 sqft
2024-06-01 78 days 1,719 sqft
Cape Coral's median listing age (time on market) for 2024-06-01 was 78 days. This is 36% longer than the same period one year ago.

Cape Coral's median square footage for active listings during the 2024-06-01 period was 1,719 sqft. One year prior, the average listing was 1,722 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).