Cape Coral VA Loans

CAPE CORAL-FORT MYERS, FL

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    • 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.