Cape Coral VA Loan Rates, Closing Costs & Stats
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 not 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
0.31%
for the week of 2022-11-25, compared to the national average (all VA variants) of
0% for the same period.
Cape Coral's average VA mortgage closing costs are $5,733.
The average rate for the prior week (2022-11-18) was
6.8% and
one month ago for the week of 2022-10-21, the
average rate was 7.15%.
The average rate one year ago was 3.53%.
For refis of the same type during the week of 2022-11-25, the average rate
was 0.17%.
Cape Coral VA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Cape Coral level.
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 MORTGAGE ($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%).
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 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 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.
