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 1 lenders originated 1 USDA loans during 2023. The total origination value was $225,000, with an average USDA loan value of $225,000.

Cape Coral USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Cape Coral averaged 6.6% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Cape Coral's average USDA mortgage closing costs are $6,308.

The average rate for the prior week (2024-04-05) was 6.62% and one month ago for the week of 2024-03-08, the average rate was 6.38%.

The average rate one year ago was 6.39%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.86%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.25% $8,689

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 (0.3%) 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
Cape Coral's median listing price for 2024-03-01 was $474,100, a difference of $-24,650 (-4.9%) versus the prior year and $-2,900 versus the prior month.

Cape Coral's median listing price comes in at 112% of the national average.

Cape Coral's average listing price for 2024-03-01 was $746,315, a difference of $-4,183 (-0.6%) versus the prior year and $5,544 versus the prior month.

For the 2024-03-01 period, Cape Coral had 10,287 MLS listings, a difference of 401 listings (4%) versus the prior month and 5,175 listings (101%) 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
Cape Coral's median listing age (time on market) for 2024-03-01 was 64 days. This is 42% longer than the same period one year ago.

Cape Coral's median square footage for active listings during the 2024-03-01 period was 1,744 sqft. One year prior, the average listing was 1,737 sqft.