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%.

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

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 for 2023-04-01 was $499,000, a difference of $4,000 (0.8%) versus the prior year and $0 versus the prior month.

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 listing age (time on market) for 2023-04-01 was 50 days. This is 67% longer than the same period one year ago.

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.