Cape Coral FHA Loan Rates, Closing Costs & Stats

CAPE CORAL-FORT MYERS, FL

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    • 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 203 lenders originated 4,954 FHA loans during 2024. The total origination value was $1,722,570,000, with an average FHA loan value of $347,713.

    Cape Coral FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Cape Coral averaged 6.88% for the week of 2025-07-11, compared to the national average (all FHA variants) of 6.523% for the same period.

    Cape Coral's average FHA mortgage closing costs are $10,326.

    The average rate for the prior week (2025-07-04) was 6.42% and one month ago for the week of 2025-06-06, the average rate was 6.75%.

    The average rate one year ago was 6.68%.

    For refis of the same type during the week of 2025-07-11, the average rate was 6.69%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 825 6.22% $16,073
    QUICKEN LOANS, LLC 361 6.20% $15,636
    LOANDEPOT.COM, LLC 315 6.34% $13,405
    CROSSCOUNTRY MORTGAGE, LLC 296 6.73% $15,895
    AMERICAN PACIFIC MORTGAGE CORPORATION 232 6.55% $18,223
    EAGLE HOME MORTGAGE, LLC 231 5.35% $12,115
    DHI MORTGAGE COMPANY, LTD. 220 5.30% $9,799
    Paramount Residential Mortgage Group, Inc. 140 6.54% $16,195
    FREEDOM MORTGAGE CORPORATION 133 6.25% $15,451
    BROKER SOLUTIONS, INC. 96 6.71% $15,654
    PENNYMAC LOAN SERVICES, LLC 81 6.09% $14,869
    EVERETT FINANCIAL, INC. 65 6.83% $14,484
    Equity Prime Mortgage LLC 50 6.47% $15,690
    NEWREZ LLC 49 6.42% $14,858
    EMBRACE HOME LOANS, INC. 46 5.94% $16,746
    AMERICAN FINANCIAL NETWORK, INC. 41 6.59% $15,876
    Flagstar Bank, FSB 39 6.30% $14,253
    MOVEMENT MORTGAGE, LLC 38 6.60% $14,284
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 37 6.64% $17,233
    HOMESIDE FINANCIAL, LLC 36 6.66% $14,681
    PULTE MORTGAGE LLC 35 5.16% $6,893
    The Loan Store, Inc. 34 6.17% $15,226
    FBC MORTGAGE, LLC 32 6.06% $13,061
    American Mortgage & Equity Consultants, Inc. 31 6.68% $16,455
    SECURITYNATIONAL MORTGAGE COMPANY 30 6.62% $18,066
    MORTGAGE 1 INCORPORATED 29 6.40% $13,649
    STOCKTON MORTGAGE CORPORATION 26 6.48% $15,585
    Plains Commerce Bank 25 6.60% $13,934
    INSPIRE HOME LOANS INC. 25 5.54% $10,974
    OCMBC, INC. 24 6.37% $16,420
    Century Mortgage Company DBA Century Lending Company 23 6.28% $13,810
    GENEVA FINANCIAL, LLC 23 6.54% $18,059
    UNION HOME MORTGAGE CORP. 22 6.64% $15,631
    VAN DYK MORTGAGE CORPORATION 21 6.73% $8,301
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 20 6.72% $14,071
    READY MORTGAGE LENDERS, LLC 20 6.87% $17,704
    T2 FINANCIAL LLC 19 6.55% $14,285
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 19 6.64% $14,861
    MY MORTGAGE, INC. 19 6.69% $17,298
    CARDINAL FINANCIAL 19 6.09% $13,154
    Carrington Mortgage Services, LLC 18 6.19% $15,817
    FIRST COMMUNITY MORTGAGE, INC. 18 6.46% $12,994
    GUARANTEED RATE, INC. 18 6.78% $13,745
    MID AMERICA MORTGAGE, INC. 17 6.76% $11,591
    BELEM SERVICING LLC 16 6.43% $15,197
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 15 6.73% $13,378
    GUILD MORTGAGE COMPANY 14 6.74% $14,828
    PRIMARY RESIDENTIAL MORTGAGE, INC. 14 6.95% $14,689
    Bank of England 13 6.66% $16,226
    Waterstone Mortgage Corporation 13 6.72% $15,927
    LOANPAL, LLC 13 5.86% $15,197
    Sierra Pacific Mortgage Company, Inc. 13 6.23% $14,859
    THE EQUITABLE MORTGAGE CORPORATION 13 6.51% $13,190
    Mr. Cooper ( Nationstar Mortgage ) 12 6.50% $15,019
    LAKEVIEW LOAN SERVICING, LLC 11 6.40% $9,738
    VILLAGE CAPITAL MORTGAGE 11 6.46% $7,613
    LAKE MICHIGAN CREDIT UNION 10 6.28% $11,373
    Cornerstone First Mortgage, Inc 10 6.75% $16,068
    Summit Mortgage Corporation 10 6.91% $14,221
    Centennial Bank 10 6.36% $14,687
    PLAZA HOME MORTGAGE, INC. 10 6.57% $18,571
    MUTUAL OF OMAHA MORTGAGE, INC. 10 6.35% $13,158
    SUN WEST MORTGAGE COMPANY, INC. 9 6.69% $16,027
    CMG MORTGAGE, INC. 9 6.37% $15,131
    ABSOLUTE HOME MORTGAGE CORPORATION 9 6.63% $15,231
    JPMorgan Chase Bank 9 6.14% $9,269
    TJC Mortgage, Inc. 8 6.06% $15,113
    NATIONWIDE MORTGAGE BANKERS, INC. 8 6.94% $16,707
    AMERITRUST MORTGAGE CORPORATION 8 6.36% $19,216
    AMERICAN FINANCING CORPORATION 8 5.81% $16,806
    INTELLILOAN, INC. 8 6.20% $6,562
    AHL FUNDING 8 6.42% $20,892
    DG PINNACLE FUNDING LLC 8 6.53% $17,287
    Lakeview Community Capital, LLC 8 6.41% $9,407
    NATIONS DIRECT MORTGAGE, LLC 7 6.30% $16,073
    U.S. Bank 7 6.02% $12,166
    PLANET HOME LENDING, LLC 7 6.41% $13,298
    GERSHMAN INVESTMENT CORP. 7 6.38% $12,836
    Keystone Funding, Inc. 7 6.21% $17,891
    POINT Mortgage 7 6.91% $19,049
    ZILLOW HOME LOANS, LLC 7 6.34% $14,712
    HOMEBRIDGE FINANCIAL SERVICES, INC. 7 5.98% $13,957
    1ST FINANCIAL, INC. 7 6.82% $18,791
    TOP FLITE FINANCIAL, INC. 7 6.70% $16,033
    Residential Mortgage Solutions, Inc. 7 6.43% $15,318
    Residential Acceptance Corporation 6 7.00% $13,444
    AMERISAVE MORTGAGE CORPORATION 6 5.83% $18,423
    GEO-CORP, INC. 6 7.58% $19,416
    MICHIGAN MUTUAL, INC. 6 6.15% $17,660
    FIRST ALLIANCE HOME MORTGAGE, LLC 6 6.65% $15,342
    AMERICAN FINANCIAL RESOURCES, INC. 6 6.65% $14,854
    Hometown Equity Mortgage, LLC 5 6.45% $18,163
    TOWNE MORTGAGE COMPANY 5 6.48% $15,828
    Commerce Home Mortgage, Inc. 5 5.88% $17,749
    First Horizon Bank 5 6.33% $11,208
    BECKAM FUNDING CORP. 5 6.65% $15,552
    A&D Mortgage LLC 5 6.15% $20,344
    BAY EQUITY LLC 4 6.15% $15,335
    Bank of America 4 5.94% $14,489
    Bell Bank 4 6.09% $11,902
    CALCON MUTUAL MORTGAGE LLC 4 6.44% $17,482
    JMAC LENDING, INC. 4 6.22% $16,003
    Prosperity Home Mortgage, LLC 4 6.09% $15,733
    Regions Bank 4 6.34% $9,535
    South Pacific Financial Corporation 4 5.94% $10,927
    TOTAL MORTGAGE SERVICES, LLC 4 7.03% $15,603
    Barrington Bank & Trust Company, N.A. 3 6.83% $14,902
    PANORAMA MORTGAGE GROUP, LLC 3 6.88% $15,886
    M&T Bank 3 6.29% $10,329
    NP, Inc. 3 7.21% $15,159
    NFM, INC. 3 7.21% $17,474
    Ixonia Bank 3 6.50% $14,537
    Loan Simple, Inc. 3 6.50% $17,362
    THE MORTGAGE WAREHOUSE,LLC 3 5.83% $12,083
    HARTFORD FUNDING, LTD. 3 6.08% $14,261
    THE MORTGAGE FIRM, INC. 3 6.46% $17,586
    The Federal Savings Bank 3 6.38% $17,536
    The Central Trust Bank 3 6.54% $11,235
    Synovus Bank 3 6.54% $10,729
    Strong Home Mortgage, LLC 3 6.12% $10,269
    Premium Mortgage Corporation 3 6.04% $12,322
    ARC HOME LLC 3 6.17% $19,841
    BAYSHORE MORTGAGE FUNDING, LLC 2 6.69% $20,768
    LEADERONE FINANCIAL CORPORATION 2 6.50% $10,590
    Home Mortgage Alliance Corp 2 7.44% $9,707
    Mortgage Research Center, LLC 2 5.75% $8,391
    GSF Mortgage Corporation 2 6.88% $14,214
    Florida Capital Bank 2 6.50% $12,357
    Nations Lending Corporation 2 6.50% $8,224
    Northpointe Bank 2 5.13% $13,270
    NORWICH COMMERCIAL GROUP, INC. 2 6.44% $15,712
    OPEN MORTGAGE, LLC 2 6.38% $16,184
    FIRST COLONY MORTGAGE CORPORATION 2 7.63% $16,136
    Fifth Third Bank 2 6.25% $14,349
    EMM LOANS LLC 2 6.81% $9,969
    ALLIED MORTGAGE GROUP, INC. 2 5.50% $13,259
    Wells Fargo Bank 2 5.31% $21,088
    City National Bank of Florida 2 5.69% $11,756
    ALKAN MORTGAGE CORPORATION 2 6.25% $12,722
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.13% $13,619
    UNITED MORTGAGE CORP 2 6.63% $17,979
    Ameris Bank 2 5.63% $15,706
    AmeriHome Mortgage Company, LLC 2 7.00% $6,510
    AMERICAN BANCSHARES MORTGAGE 2 6.94% $10,931
    FIRST EQUITY MORTGAGE BANKERS, INC. 1 6.75% $10,887
    KBHS HOME LOANS, LLC 1 6.00% $16,220
    Performance Financial, Inc. 1 6.75% $8,749
    PHH Mortgage Corporation 1 5.99% $15,141
    HOMESPIRE MORTGAGE CORPORATION 1 6.13% $18,017
    FIDELITY DIRECT MORTGAGE, LLC 1 7.63% $16,320
    ENVOY MORTGAGE, LTD 1 6.88% $18,232
    JET DIRECT FUNDING CORP 1 7.00% $17,998
    Mortgage Lenders Investment Trading Corporation 1 7.25% $14,997
    East Coast Capital Corp. 1 7.25% $27,343
    Valley National Bank 1 5.50% $18,428
    DIRECT MORTGAGE LOANS, LLC 1 6.63% $17,625
    DELMAR FINANCIAL COMPANY 1 6.75% $11,795
    CONTOUR MORTGAGE CORPORATION 1 6.25% $14,830
    LIBERTY HOME MORTGAGE CORPORATION 1 5.88% $9,535
    RELIANCE FIRST CAPITAL, LLC 1 6.38% $14,774
    COMPASS MORTGAGE, INC. 1 6.75% $6,572
    CLIFFCO, INC. 1 7.13% $19,452
    VERITAS FUNDING, LLC 1 6.75% $19,323
    City Lending Inc. 1 7.75% $13,554
    Willamette Valley Bank 1 5.25% $20,858
    South State Bank 1 6.50% $13,338
    SOUTHWEST FUNDING, LP 1 7.13% $13,792
    SPACE COAST Credit Union 1 7.00% $12,061
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.25% $18,061
    Stride Bank 1 6.75% $17,165
    GUARANTEED RATE AFFINITY, LLC 1 6.50% $11,071
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.50% $12,597
    SUMMIT FUNDING, INC. 1 6.75% $11,504
    CIBM Bank 1 6.75% $9,091
    CANOPY MORTGAGE, LLC 1 6.75% $14,676
    MORIA DEVELOPMENT, INC. 1 6.25% $15,039
    BETTER MORTGAGE CORPORATION 1 6.00% $13,149
    MILEND, INC. 1 6.63% $27,931
    HOMESTEAD FUNDING CORP. 1 5.75% $5,193
    Midwest Mortgage Associates Corporation 1 5.88% $26,520
    The Huntington National Bank 1 6.13% $9,690
    1ST 2ND MORTGAGE COMPANY OF N.J., INC. 1 6.63% $12,888
    MID-ISLAND MORTGAGE CORP. 1 6.13% $12,711
    HOME FINANCING CENTER, INC. 1 7.13% $32,922
    LOANFLIGHT LENDING, LLC 1 5.25% $20,237
    BANKING MORTGAGE SERVICES, B.M.S. CORP. 1 6.25% $26,276
    NATION ONE MORTGAGE CORPORATION 1 6.75% $17,480
    HOMEXPRESS MORTGAGE CORP. 1 5.63% $25,114
    AXIA FINANCIAL, LLC 1 7.25% $15,512
    First Option Mortgage, LLC 1 8.25% $21,976
    NBKC BANK 1 6.38% $11,120
    NETWORK CAPITAL FUNDING CORPORATION 1 5.75% $8,900
    FIRST HOME MORTGAGE CORPORATION 1 7.50% $15,562
    NexBank 1 6.63% $25,145
    Franklin Loan Corporation 1 6.25% $16,047
    TruHome Solutions, LLC 1 6.13% $9,832
    Truist 1 6.70% $11,866
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 6.00% $5,940
    GARDNER FINANCIAL SERVICES, LTD. 1 5.63% $15,553
    First Federal Bank 1 6.13% $11,292
    ON Q FINANCIAL, INC. 1 6.75% $13,605
    WALL STREET MORTGAGE BANKERS, LTD. 1 5.75% $18,156
    GREENTREE MORTGAGE COMPANY, L.P. 1 6.63% $8,421

    The top Cape Coral FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 825 FHA loans originated. Their average total fees are $16,073, which is $437 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Cape Coral FHA lenders (with over 10 loans originated) are PULTE MORTGAGE LLC ($6,893), VILLAGE CAPITAL MORTGAGE ($7,613), VAN DYK MORTGAGE CORPORATION ($8,301), LAKEVIEW LOAN SERVICING, LLC ($9,738) and DHI MORTGAGE COMPANY, LTD. ($9,799).

    The lowest rate Cape Coral FHA lenders (with over 10 loans originated) are PULTE MORTGAGE LLC (5.16%), DHI MORTGAGE COMPANY, LTD. (5.30%), EAGLE HOME MORTGAGE, LLC (5.35%), INSPIRE HOME LOANS INC. (5.54%) and LOANPAL, LLC (5.86%).

    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

    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).