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 6 lenders originated 11 USDA loans during 2021. The total origination value was $3,505,000, with an average USDA loan value of $318,636.

Cape Coral USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Cape Coral averaged 0.09% for the week of 2022-11-25, compared to the national average (all USDA variants) of 0% for the same period.

Cape Coral's average USDA mortgage closing costs are $6,125.

The average rate for the prior week (2022-11-18) was 6.64% and one month ago for the week of 2022-10-21, the average rate was 6.85%.

The average rate one year ago was 3.39%.

For refis of the same type during the week of 2022-11-25, the average rate was -0.36%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Carrington Mortgage Services, LLC 1 3.63% $6,791
Paramount Residential Mortgage Group, Inc. 1 3.38% $5,962
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.13% $8,467
SUN WEST MORTGAGE COMPANY, INC. 1 3.25% $3,894
UNITED WHOLESALE MORTGAGE, LLC 1 3.00% $6,196
Waterstone Mortgage Corporation 1 2.25% $7,547

The top Cape Coral USDA lender as defined by loan originations is Carrington Mortgage Services, LLC, with 1 USDA loans originated. Their average total fees are $6,791, which is $830 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%) $485,828 (1.7%) 1.09 9,579
2018-03-01 $299,900 (-0.9%) $483,500 (1.9%) 1.05 9,690
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%) 0.98 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 $298,786 (-0.4%) $480,602 (-0.6%) 0.98 10,789
2019-04-01 $298,345 (-0.5%) $478,561 (-1.0%) 0.95 10,329
2019-05-01 $295,000 (-1.3%) $475,917 (-0.9%) 0.92 9,633
2019-06-01 $292,500 (-0.8%) $473,196 (-0.5%) 0.91 8,843
2019-07-01 $291,475 (-1.2%) $467,969 (-0.3%) 0.91 8,291
2019-08-01 $294,600 (1.7%) $465,939 (0.9%) 0.93 7,981
2019-09-01 $297,075 (2.8%) $464,999 (1.4%) 0.95 7,832
2019-10-01 $299,000 (3.1%) $466,604 (0.7%) 0.96 7,763
2019-11-01 $299,900 (0.5%) $483,589 (2.6%) 0.98 8,016
2019-12-01 $302,448 (2.6%) $496,071 (5.3%) 1.01 8,051
2020-01-01 $306,995 (4.3%) $505,619 (5.9%) 1.03 8,227
2020-02-01 $316,420 (6.0%) $518,051 (8.4%) 1.03 8,209
2020-03-01 $319,973 (7.1%) $520,929 (8.4%) 1.00 7,993
2020-04-01 $314,500 (5.4%) $506,151 (5.8%) 0.98 7,811
2020-05-01 $319,000 (8.1%) $514,076 (8.0%) 0.97 7,208
2020-06-01 $324,950 (11.1%) $531,276 (12.3%) 0.96 6,505
2020-07-01 $325,000 (11.5%) $547,534 (17.0%) 0.94 5,919
2020-08-01 $325,000 (10.3%) $551,751 (18.4%) 0.93 5,453
2020-09-01 $322,500 (8.6%) $558,948 (20.2%) 0.92 5,102
2020-10-01 $325,000 (8.7%) $564,422 (21.0%) 0.93 4,862
2020-11-01 $324,900 (8.3%) $572,850 (18.5%) 0.95 4,603
2020-12-01 $323,663 (7.0%) $578,254 (16.6%) 0.96 4,362
2021-01-01 $319,900 (4.2%) $588,208 (16.3%) 0.95 3,817
2021-02-01 $320,554 (1.3%) $605,048 (16.8%) 0.93 2,932
2021-03-01 $332,950 (4.1%) $632,248 (21.4%) 0.94 2,144
2021-04-01 $349,450 (11.1%) $642,351 (26.9%) 0.95 1,934
2021-05-01 $362,000 (13.5%) $665,968 (29.6%) 0.96 1,673
2021-06-01 $369,999 (13.9%) $674,634 (27.0%) 0.97 1,815
2021-07-01 $375,000 (15.4%) $652,682 (19.2%) 0.99 1,888
2021-08-01 $393,925 (21.2%) $676,109 (22.5%) 1.05 1,959
2021-09-01 $399,000 (23.7%) $679,257 (21.5%) 1.06 1,984
2021-10-01 $424,900 (30.7%) $703,195 (24.6%) 1.13 1,938
2021-11-01 $429,100 (32.1%) $736,482 (28.6%) 1.15 1,864
2021-12-01 $435,945 (34.7%) $728,574 (26.0%) 1.18 1,831
2022-01-01 $429,950 (34.4%) $740,979 (26.0%) 1.16 1,646
2022-02-01 $464,950 (45.1%) $786,439 (30.0%) 1.21 1,543
2022-03-01 $487,000 (46.3%) $784,996 (24.2%) 1.22 1,691
2022-04-01 $495,000 (41.7%) $786,827 (22.5%) 1.18 1,983
2022-05-01 $499,000 (37.9%) $780,855 (17.3%) 1.14 2,534
2022-06-01 $499,450 (35.0%) $768,721 (14.0%) 1.11 3,227
2022-07-01 $485,000 (29.3%) $746,699 (14.4%) 1.10 3,930
2022-08-01 $475,000 (20.6%) $720,125 (6.5%) 1.10 4,208
2022-09-01 $464,850 (16.5%) $711,320 (4.7%) 1.09 4,239
2022-10-01 $459,950 (8.3%) $698,578 (-0.7%) 1.08 3,860
Cape Coral's median listing price for 2022-10-01 was $459,950, a difference of $35,050 (8.3%) versus the prior year and $-4,900 versus the prior month.

Cape Coral's median listing price comes in at 108% of the national average.

Cape Coral's average listing price for 2022-10-01 was $698,578, a difference of $-4,617 (-0.7%) versus the prior year and $-12,742 versus the prior month.

For the 2022-10-01 period, Cape Coral had 3,860 MLS listings, a difference of -379 listings (-9%) versus the prior month and 1,922 listings (99%) 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 1,789 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 82 days 1,761 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 95 days 1,755 sqft
2019-09-01 90 days 1,755 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 1,778 sqft
2020-02-01 79 days 1,788 sqft
2020-03-01 73 days 1,793 sqft
2020-04-01 83 days 1,772 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 1,758 sqft
2020-09-01 83 days 1,752 sqft
2020-10-01 73 days 1,756 sqft
2020-11-01 67 days 1,738 sqft
2020-12-01 68 days 1,734 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 44 days 1,707 sqft
2021-05-01 41 days 1,722 sqft
2021-06-01 39 days 1,745 sqft
2021-07-01 42 days 1,747 sqft
2021-08-01 50 days 1,764 sqft
2021-09-01 52 days 1,765 sqft
2021-10-01 50 days 1,781 sqft
2021-11-01 50 days 1,777 sqft
2021-12-01 51 days 1,758 sqft
2022-01-01 52 days 1,753 sqft
2022-02-01 34 days 1,762 sqft
2022-03-01 30 days 1,759 sqft
2022-04-01 31 days 1,770 sqft
2022-05-01 32 days 1,756 sqft
2022-06-01 36 days 1,758 sqft
2022-07-01 41 days 1,756 sqft
2022-08-01 49 days 1,752 sqft
2022-09-01 56 days 1,757 sqft
2022-10-01 67 days 1,769 sqft
Cape Coral's median listing age (time on market) for 2022-10-01 was 67 days. This is 34% longer than the same period one year ago.

Cape Coral's median square footage for active listings during the 2022-10-01 period was 1,769 sqft. One year prior, the average listing was 1,781 sqft.