Cape Coral USDA Loan Rates, Closing Costs & Stats
CAPE CORAL-FORT MYERS, FL
USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.
Cape Coral's 2 lenders originated 2 USDA loans during 2022. The total origination value was $500,000, with an average USDA loan value of $250,000.
Cape Coral USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Cape Coral
averaged
6.11%
for the week of 2023-05-26, compared to the national average (all USDA variants) of
6.63% for the same period.
Cape Coral's average USDA mortgage closing costs are $6,262.
The average rate for the prior week (2023-05-19) was
6.05% and
one month ago for the week of 2023-04-21, the
average rate was 6.16%.
The average rate one year ago was 4.88%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.22%.
Cape Coral USDA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for USDA 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 |
|---|---|---|---|
| HOME POINT FINANCIAL CORPORATION | 1 | 2.88% | $11,770 |
| Paramount Residential Mortgage Group, Inc. | 1 | 6.13% | $7,620 |
The top Cape Coral USDA lender as defined by loan originations is HOME POINT FINANCIAL CORPORATION, with
1 USDA loans originated. Their average total fees are
$11,770, which is $4,150
higher than the next largest lender,
Paramount Residential Mortgage Group, Inc..
The lowest fee Cape Coral USDA lenders (with over 10 loans originated) are
.
The lowest rate Cape Coral USDA lenders (with over 10 loans originated) are
.
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 (0.2%) | 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 | $297,500 (-0.8%) | $480,445 (-0.6%) | 0.99 | 10,811 |
| 2019-04-01 | $297,597 (-0.8%) | $477,441 (-1.3%) | 0.94 | 10,330 |
| 2019-05-01 | $295,000 (-1.3%) | $475,926 (-0.9%) | 0.92 | 9,626 |
| 2019-06-01 | $292,900 (-0.6%) | $473,217 (-0.4%) | 0.92 | 8,837 |
| 2019-07-01 | $291,500 (-1.2%) | $468,091 (-0.3%) | 0.91 | 8,284 |
| 2019-08-01 | $294,900 (1.8%) | $466,557 (1.0%) | 0.92 | 7,944 |
| 2019-09-01 | $295,000 (2.1%) | $466,824 (1.8%) | 0.93 | 7,122 |
| 2019-10-01 | $299,000 (3.1%) | $466,598 (0.7%) | 0.96 | 7,738 |
| 2019-11-01 | $299,900 (0.5%) | $483,784 (2.6%) | 0.98 | 8,009 |
| 2019-12-01 | $302,500 (2.6%) | $496,273 (5.4%) | 1.01 | 8,043 |
| 2020-01-01 | $307,000 (4.3%) | $505,859 (5.9%) | 1.03 | 8,219 |
| 2020-02-01 | $317,200 (6.3%) | $518,300 (8.4%) | 1.04 | 8,201 |
| 2020-03-01 | $319,999 (7.6%) | $521,187 (8.5%) | 1.00 | 7,983 |
| 2020-04-01 | $314,500 (5.7%) | $506,423 (6.1%) | 0.99 | 7,801 |
| 2020-05-01 | $319,500 (8.3%) | $514,308 (8.1%) | 0.97 | 7,198 |
| 2020-06-01 | $324,950 (10.9%) | $531,555 (12.3%) | 0.96 | 6,495 |
| 2020-07-01 | $325,000 (11.5%) | $547,863 (17.0%) | 0.94 | 5,909 |
| 2020-08-01 | $325,000 (10.2%) | $552,123 (18.3%) | 0.93 | 5,443 |
| 2020-09-01 | $323,333 (9.6%) | $559,350 (19.8%) | 0.93 | 5,092 |
| 2020-10-01 | $325,000 (8.7%) | $564,844 (21.1%) | 0.93 | 4,852 |
| 2020-11-01 | $324,900 (8.3%) | $573,306 (18.5%) | 0.95 | 4,593 |
| 2020-12-01 | $324,288 (7.2%) | $578,744 (16.6%) | 0.96 | 4,352 |
| 2021-01-01 | $319,900 (4.2%) | $588,786 (16.4%) | 0.95 | 3,807 |
| 2021-02-01 | $321,950 (1.5%) | $605,839 (16.9%) | 0.94 | 2,922 |
| 2021-03-01 | $334,950 (4.7%) | $633,333 (21.5%) | 0.95 | 2,134 |
| 2021-04-01 | $349,450 (11.1%) | $643,400 (27.1%) | 0.95 | 1,924 |
| 2021-05-01 | $365,000 (14.2%) | $667,238 (29.7%) | 0.97 | 1,662 |
| 2021-06-01 | $371,125 (14.2%) | $675,876 (27.2%) | 0.98 | 1,804 |
| 2021-07-01 | $375,000 (15.4%) | $654,029 (19.4%) | 0.99 | 1,879 |
| 2021-08-01 | $394,950 (21.5%) | $677,805 (22.8%) | 1.05 | 1,951 |
| 2021-09-01 | $399,000 (23.4%) | $681,169 (21.8%) | 1.06 | 1,976 |
| 2021-10-01 | $424,900 (30.7%) | $704,980 (24.8%) | 1.13 | 1,929 |
| 2021-11-01 | $429,500 (32.2%) | $737,759 (28.7%) | 1.15 | 1,854 |
| 2021-12-01 | $436,000 (34.5%) | $730,041 (26.1%) | 1.18 | 1,821 |
| 2022-01-01 | $430,000 (34.4%) | $742,627 (26.1%) | 1.16 | 1,636 |
| 2022-02-01 | $467,125 (45.1%) | $788,361 (30.1%) | 1.21 | 1,533 |
| 2022-03-01 | $488,500 (45.8%) | $786,956 (24.3%) | 1.22 | 1,681 |
| 2022-04-01 | $495,000 (41.7%) | $788,485 (22.6%) | 1.18 | 1,973 |
| 2022-05-01 | $499,000 (36.7%) | $782,120 (17.2%) | 1.14 | 2,526 |
| 2022-06-01 | $499,700 (34.6%) | $769,771 (13.9%) | 1.11 | 3,219 |
| 2022-07-01 | $485,500 (29.5%) | $747,513 (14.3%) | 1.10 | 3,921 |
| 2022-08-01 | $475,000 (20.3%) | $720,891 (6.4%) | 1.10 | 4,198 |
| 2022-09-01 | $465,000 (16.5%) | $712,029 (4.5%) | 1.09 | 4,230 |
| 2022-10-01 | $460,000 (8.3%) | $699,363 (-0.8%) | 1.08 | 3,849 |
| 2022-11-01 | $459,975 (7.1%) | $711,388 (-3.6%) | 1.11 | 3,958 |
| 2022-12-01 | $465,000 (6.7%) | $717,760 (-1.7%) | 1.15 | 4,240 |
| 2023-01-01 | $472,400 (9.9%) | $719,781 (-3.1%) | 1.17 | 4,530 |
| 2023-02-01 | $479,500 (2.7%) | $737,085 (-6.5%) | 1.16 | 4,745 |
| 2023-03-01 | $499,000 (2.2%) | $751,137 (-4.6%) | 1.18 | 5,112 |
| 2023-04-01 | $499,000 (0.8%) | $750,641 (-4.8%) | 1.16 | 5,502 |
Cape Coral's median listing price comes in at 116% of the national average.
Cape Coral's average listing price for 2023-04-01 was $750,641, a difference of $-37,844 (-4.8%) versus the prior year and $-496 versus the prior month.
For the 2023-04-01 period, Cape Coral had 5,502 MLS listings, a difference of 390 listings (8%) versus the prior month and 3,529 listings (179%) 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 | 1,788 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 | 80 days | 1,760 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 | 104 days | 1,755 sqft |
| 2019-09-01 | 101 days | 1,758 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 | 1,779 sqft |
| 2020-02-01 | 79 days | 1,788 sqft |
| 2020-03-01 | 73 days | 1,793 sqft |
| 2020-04-01 | 83 days | 1,773 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 | 1,759 sqft |
| 2020-09-01 | 83 days | 1,752 sqft |
| 2020-10-01 | 73 days | 1,756 sqft |
| 2020-11-01 | 67 days | 1,740 sqft |
| 2020-12-01 | 68 days | 1,736 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 | 43 days | 1,707 sqft |
| 2021-05-01 | 40 days | 1,722 sqft |
| 2021-06-01 | 39 days | 1,746 sqft |
| 2021-07-01 | 41 days | 1,748 sqft |
| 2021-08-01 | 50 days | 1,765 sqft |
| 2021-09-01 | 52 days | 1,768 sqft |
| 2021-10-01 | 50 days | 1,782 sqft |
| 2021-11-01 | 49 days | 1,777 sqft |
| 2021-12-01 | 51 days | 1,760 sqft |
| 2022-01-01 | 52 days | 1,754 sqft |
| 2022-02-01 | 34 days | 1,764 sqft |
| 2022-03-01 | 30 days | 1,761 sqft |
| 2022-04-01 | 30 days | 1,770 sqft |
| 2022-05-01 | 32 days | 1,756 sqft |
| 2022-06-01 | 35 days | 1,758 sqft |
| 2022-07-01 | 41 days | 1,756 sqft |
| 2022-08-01 | 48 days | 1,752 sqft |
| 2022-09-01 | 56 days | 1,757 sqft |
| 2022-10-01 | 67 days | 1,770 sqft |
| 2022-11-01 | 74 days | 1,766 sqft |
| 2022-12-01 | 65 days | 1,744 sqft |
| 2023-01-01 | 60 days | 1,732 sqft |
| 2023-02-01 | 52 days | 1,727 sqft |
| 2023-03-01 | 46 days | 1,737 sqft |
| 2023-04-01 | 50 days | 1,732 sqft |
Cape Coral's median square footage for active listings during the 2023-04-01 period was 1,732 sqft. One year prior, the average listing was 1,770 sqft.