Cape Coral VA Loans

CAPE CORAL-FORT MYERS, FL

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Cape Coral's 192 lenders originated 3,126 VA loans during 2021. The total origination value was $912,090,000, with an average VA loan value of $291,775.

Cape Coral VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Cape Coral averaged 5.43% for the week of 2022-08-05, compared to the national average (all VA variants) of 5.013% for the same period.

The average rate for the prior week (2022-07-29) was 5.58% and one month ago for the week of 2022-07-01, the average rate was 5.7%.

The average rate one year ago was 2.88%.

For refis of the same type during the week of 2022-08-05, the average rate was 5.38%.

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

Cape Coral VA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for VA 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. Total Fees
QUICKEN LOANS, LLC 335 2.48% $5,163
FREEDOM MORTGAGE CORPORATION 260 2.45% $3,502
Mortgage Research Center, LLC 242 2.87% $7,794
PENNYMAC LOAN SERVICES, LLC 144 2.41% $5,807
UNITED WHOLESALE MORTGAGE, LLC 129 2.58% $7,132
NEW DAY FINANCIAL, LLC 100 2.84% $9,706
USAA Federal Savings Bank 74 2.90% $5,767
LOANDEPOT.COM, LLC 74 2.53% $5,362
NAVY FEDERAL CREDIT UNION 69 2.50% $7,088
CROSSCOUNTRY MORTGAGE, LLC 65 3.04% $8,824
LAKEVIEW LOAN SERVICING, LLC 63 2.45% $2,667
CALIBER HOME LOANS, INC. 62 2.57% $5,887
CLEARPATH LENDING 55 2.27% $4,838
MOVEMENT MORTGAGE, LLC 52 2.81% $6,556
DHI MORTGAGE COMPANY, LTD. 45 2.83% $6,654
Mr. Cooper ( Nationstar Mortgage ) 44 2.82% $3,075
VILLAGE CAPITAL & INVESTMENT LLC 42 2.38% $3,018
HOME POINT FINANCIAL CORPORATION 39 2.52% $6,426
MORTGAGE 1 INCORPORATED 37 2.74% $8,554
PULTE MORTGAGE LLC 30 2.91% $4,772
HAMILTON HOME LOANS, INC. 30 3.02% $7,369
HOMEBRIDGE FINANCIAL SERVICES, INC. 27 2.63% $7,390
AMERICAN FINANCIAL NETWORK, INC. 26 2.72% $11,067
The Federal Savings Bank 26 2.67% $8,791
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 25 2.87% $9,029
EAGLE HOME MORTGAGE, LLC 25 3.02% $8,529
BROKER SOLUTIONS, INC. 24 2.62% $6,746
Wells Fargo Bank 22 2.57% $6,321
Paramount Residential Mortgage Group, Inc. 21 3.01% $8,639
FINANCE OF AMERICA MORTGAGE LLC 18 3.00% $8,731
Mid-Continent Funding, Inc. 16 2.69% $7,453
Low VA Rates, LLC 16 2.28% $5,271
PLANET HOME LENDING, LLC 15 2.56% $3,673
Carrington Mortgage Services, LLC 15 3.37% $4,450
Barrington Bank & Trust Company, N.A. 15 2.68% $5,804
FBC MORTGAGE, LLC 14 2.65% $5,768
PENTAGON FEDERAL CREDIT UNION 14 2.36% $2,548
Lakeview Community Capital, LLC 13 2.47% $1,992
GUARANTEED RATE, INC. 13 2.76% $5,719
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 3.08% $11,387
First Guaranty Mortgage Corporation 13 2.32% $3,348
Eagle Bank and Trust Company 12 2.90% $4,342
CALCON MUTUAL MORTGAGE LLC 11 3.57% $6,347
LENDUS, LLC 11 2.72% $6,053
MUTUAL OF OMAHA MORTGAGE, INC. 10 2.70% $6,102
PRIMARY RESIDENTIAL MORTGAGE, INC. 10 3.45% $8,373
NBKC BANK 10 2.35% $7,324
AMERISAVE MORTGAGE CORPORATION 10 2.68% $6,791
First Option Mortgage, LLC 10 3.21% $6,071
VAN DYK MORTGAGE CORPORATION 10 2.90% $6,689
Flagstar Bank, FSB 9 2.91% $10,552
SUN WEST MORTGAGE COMPANY, INC. 9 2.65% $5,301
AMERICAN FINANCING CORPORATION 9 2.46% $7,284
Equity Prime Mortgage LLC 9 3.92% $6,692
First Federal Bank 9 4.57% $9,484
Citizens Bank 8 2.66% $6,593
NEWREZ LLC 8 2.89% $4,471
AmeriHome Mortgage Company, LLC 8 2.89% $2,475
SECURITYNATIONAL MORTGAGE COMPANY 8 3.16% $11,560
UNION HOME MORTGAGE CORP. 8 2.53% $7,900
Bank of England 8 2.84% $8,410
ACCELERATE MORTGAGE, LLC 8 2.06% $4,987
INLANTA MORTGAGE, INC. 8 2.88% $5,739
First Home Bank 7 2.43% $8,635
LOANPAL, LLC 7 2.46% $6,192
BNC National Bank 6 2.29% $4,235
Nations Lending Corporation 6 2.96% $6,782
AMERICAN PACIFIC MORTGAGE CORPORATION 6 3.00% $12,199
CELEBRITY HOME LOANS, LLC 6 2.92% $10,204
Waterstone Mortgage Corporation 6 2.88% $10,822
SOVEREIGN LENDING GROUP INCORPORATED 6 2.50% $3,377
Magnolia Bank 6 2.44% $8,033
LADERA LENDING, INC. 5 2.50% $7,011
Commerce Home Mortgage, Inc. 5 2.53% $5,049
CMG MORTGAGE, INC. 5 2.87% $7,242
ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 2.60% $8,024
MORTGAGE SOLUTIONS OF COLORADO, LLC 4 2.78% $5,451
Summit Mortgage Corporation 4 2.91% $17,937
SUCCESS MORTGAGE PARTNERS, INC. 4 3.00% $7,377
GENEVA FINANCIAL, LLC 4 3.03% $6,713
Hometown Lenders, Inc. 4 3.19% $6,629
North American Savings Bank, F.S.B. 4 2.59% $20,546
Prosperity Home Mortgage, LLC 4 2.72% $9,046
NP, Inc. 4 2.53% $4,574
Truist Bank 4 3.07% $2,993
TJC Mortgage, Inc. 4 2.59% $6,241
FIRST COMMUNITY MORTGAGE, INC. 3 3.21% $2,887
CONTOUR MORTGAGE CORPORATION 3 2.88% $7,415
Plains Commerce Bank 3 2.33% $5,721
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 3.04% $9,280
South Pacific Financial Corporation 3 2.54% $9,129
Fifth Third Bank 3 2.71% $4,577
Northpointe Bank 3 3.08% $14,226
Wyndham Capital Mortgage, Inc. 3 2.58% $2,163
Advisors Mortgage Group, L.L.C. 3 2.83% $10,824
BAY EQUITY LLC 3 2.54% $3,659
GUARANTEED RATE AFFINITY, LLC 3 3.13% $2,283
JPMorgan Chase Bank 3 3.04% $5,360
KBHS HOME LOANS, LLC 3 3.04% $6,644
Capital Bank 2 2.12% $9,445
LAND HOME FINANCIAL SERVICES, INC. 2 3.13% $5,077
InterContinental Capital Group, Inc 2 2.38% $3,194
INTERCAP LENDING INC. 2 2.56% $4,953
HOMESIDE FINANCIAL, LLC 2 2.44% $2,328
Bell Bank 2 2.88% $2,696
Gateway First Bank 2 2.69% $4,949
First Mortgage Solutions, LLC 2 2.44% $16,446
First Horizon Bank 2 2.63% $3,606
AMERICAN MORTGAGE SERVICE COMPANY 2 3.00% $13,179
UNITED MORTGAGE CORP. 2 2.88% $3,977
TruHome Solutions, LLC 2 2.44% $9,094
THE MORTGAGE FIRM, INC. 2 2.94% $12,985
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 3.06% $3,386
Strong Home Mortgage, LLC 2 2.75% $8,958
NATIONS DIRECT MORTGAGE, LLC 2 3.12% $6,601
STEARNS LENDING, LLC 2 2.88% $3,470
South State Bank 2 2.69% $20,124
AMCAP MORTGAGE, LTD. 2 2.38% $9,845
Sierra Pacific Mortgage Company, Inc. 2 2.50% $10,359
NETWORK CAPITAL FUNDING CORPORATION 2 2.50% $7,979
EQUITY RESOURCES, INC. 2 2.38% $3,196
Prime Choice Funding Inc. 2 2.56% $8,546
ACADEMY MORTGAGE CORPORATION 2 3.31% $5,729
Paramount Bank 2 2.75% $13,903
ZILLOW HOME LOANS, LLC 1 2.88% $6,380
Advance Financial Group, LLC 1 3.25% $2,575
Alcova Mortgage LLC 1 2.38% $18,287
ALL WESTERN MORTGAGE, INC. 1 3.63% $6,167
AMERICAN FINANCIAL RESOURCES, INC. 1 4.25% $8,757
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 2.75% $7,128
AMERIFIRST FINANCIAL CORPORATION 1 2.88% $34,051
Ameris Bank 1 2.63% $8,006
Assurance Financial Group, L.L.C. 1 2.25% $3,947
Atlantic Union Bank 1 3.13% $3,276
Centennial Bank 1 2.63% $12,783
CHERRY CREEK MORTGAGE, LLC 1 2.25% $745
CityWorth Mortgage LLC 1 3.13% $615
Commonwealth Bank and Trust Company 1 2.50% $2,653
DAS Acquisition Company, LLC 1 3.55% $6,253
DRAPER AND KRAMER MORTGAGE CORP. 1 3.38% $7,801
EVERETT FINANCIAL, INC. 1 2.75% $16,328
FAIRWAY FUNDING GROUP, INC. 1 2.25% $3,534
FAMILY FINANCE MORTGAGE, LLC 1 2.63% $5,879
FIDELITY BANK 1 3.25% $11,920
Financial Funding Solutions, Inc. 1 3.13% $1,496
FIRST STATE MORTGAGE SERVICES, LLC 1 2.38% $10,125
GERSHMAN INVESTMENT CORP. 1 2.50% $3,273
Goldwater Bank, N.A. 1 2.25% $9,357
GSF Mortgage Corporation 1 4.25% $5,672
GUILD MORTGAGE COMPANY 1 2.88% $6,085
HARBORONE MORTGAGE, LLC 1 2.50% $3,921
HOMEWAY MORTGAGE LLC 1 2.63% $2,986
JAMES B. NUTTER & COMPANY 1 2.75% $2,569
KeyBank 1 2.63% $15,095
Lend Smart Mortgage, LLC 1 2.88% $14,073
MATTAMY HOME FUNDING, LLC 1 2.50% $11,491
Meridian Bank Corporation 1 2.63% $3,544
Midland States Bank 1 2.88% $5,987
MILEND, INC. 1 4.75% $13,407
Mortgage Lenders Investment Trading Corporation 1 2.75% $5,750
NATIONS RELIABLE LENDING, LLC 1 3.25% $14,338
NFM, INC. 1 3.13% $10,293
NORWICH COMMERCIAL GROUP, INC. 1 2.25% $3,640
PANORAMA MORTGAGE GROUP, LLC 1 4.75% $8,420
PARKSIDE LENDING, LLC 1 2.75% $5,533
PHH Mortgage Corporation 1 3.00% $2,068
PIKE CREEK MORTGAGE SERVICES, INC. 1 4.88% $3,463
PLAZA HOME MORTGAGE, INC. 1 2.63% $6,410
PNC Bank 1 2.50% $1,987
POLARIS HOME FUNDING CORP. 1 2.88% $11,282
Princeton Mortgage Corporation 1 2.50% $17,995
Quaint Oak Mortgage, LLC 1 3.00% $4,778
RESIDENTIAL BANCORP. 1 2.88% $4,260
RESIDENTIAL HOME FUNDING CORP. 1 2.50% $7,835
Seacoast National Bank 1 3.50% $16,256
Servion, Inc. 1 2.75% $3,574
SOUTHERN TRUST MORTGAGE, LLC 1 2.25% $12,916
SOUTHPOINT FINANCIAL SERVICES, INC. 1 2.50% $4,018
STOCKTON MORTGAGE CORPORATION 1 2.50% $15,238
SUMMIT FUNDING, INC. 1 3.13% $5,048
Synovus Bank 1 2.75% $9,787
Texana Bank 1 2.75% $7,823
THE EQUITABLE MORTGAGE CORPORATION 1 2.38% $2,778
The Home Loan Expert LLC 1 2.63% $14,340
THE MORTGAGE COMPANY 1 2.50% $4,492
THRIVE MORTGAGE, LLC 1 3.00% $11,910
Triumph Bank 1 2.25% $9,638
UNIVERSITY LENDING GROUP, LLC 1 3.99% $5,770
Valley National Bank 1 2.63% $13,329
VANDERBILT MORTGAGE AND FINANCE, INC. 1 3.75% $3,250
V.I.P. MORTGAGE, INC. 1 2.50% $0
1ST FINANCIAL, INC. 1 2.55% $3,354

The top Cape Coral VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 335 VA loans originated. Their average total fees are $5,163, which is $1,661 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee Cape Coral VA lenders (with over 10 loans originated) are Lakeview Community Capital, LLC ($1,992), PENTAGON FEDERAL CREDIT UNION ($2,548), LAKEVIEW LOAN SERVICING, LLC ($2,667), VILLAGE CAPITAL & INVESTMENT LLC ($3,018) and Mr. Cooper ( Nationstar Mortgage ) ($3,075).

The lowest rate Cape Coral VA lenders (with over 10 loans originated) are CLEARPATH LENDING (2.27%), Low VA Rates, LLC (2.28%), First Guaranty Mortgage Corporation (2.32%), NBKC BANK (2.35%) and PENTAGON FEDERAL CREDIT UNION (2.36%).

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.