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 181 lenders originated 1,414 VA loans during 2022. The total origination value was $508,340,000, with an average VA loan value of $359,505.
Cape Coral VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Cape Coral
averaged
6.58%
for the week of 2023-09-22, compared to the national average (all VA variants) of
6.823% for the same period.
Cape Coral's average VA mortgage closing costs are $6,366.
The average rate for the prior week (2023-09-15) was
6.76% and
one month ago for the week of 2023-08-18, the
average rate was 6.64%.
The average rate one year ago was 5.61%.
For refis of the same type during the week of 2023-09-22, the average rate
was 5.29%.
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 Mortgage Research Center, LLC, with
174 VA loans originated. Their average total fees are
$10,574, which is $532
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Cape Coral VA lenders (with over 10 loans originated) are
PENTAGON FEDERAL CREDIT UNION ($5,302), Wells Fargo Bank ($6,051), NAVY FEDERAL CREDIT UNION ($7,053), PULTE MORTGAGE LLC ($7,558) and HOMEBRIDGE FINANCIAL SERVICES, INC. ($7,585).
The lowest rate Cape Coral VA lenders (with over 10 loans originated) are
PENTAGON FEDERAL CREDIT UNION (2.93%), LOANPAL, LLC (3.29%), PENNYMAC LOAN SERVICES, LLC (3.62%), HOMEBRIDGE FINANCIAL SERVICES, INC. (3.80%) and NAVY FEDERAL CREDIT UNION (3.87%).
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 (0.2%) | 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%) | $477,653 (-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%) | $480,593 (-0.6%) | 0.98 | 10,789 |
| 2019-04-01 | $298,349 (-0.5%) | $478,542 (-1.1%) | 0.95 | 10,329 |
| 2019-05-01 | $295,000 (-1.3%) | $475,926 (-0.9%) | 0.92 | 9,626 |
| 2019-06-01 | $292,900 (-0.6%) | $473,217 (-0.4%) | 0.92 | 8,837 |
| 2019-07-01 | $291,500 (-1.2%) | $468,091 (-0.3%) | 0.91 | 8,284 |
| 2019-08-01 | $294,636 (1.7%) | $466,018 (0.9%) | 0.93 | 7,974 |
| 2019-09-01 | $297,091 (2.8%) | $465,064 (1.4%) | 0.95 | 7,823 |
| 2019-10-01 | $299,000 (3.1%) | $466,704 (0.7%) | 0.96 | 7,755 |
| 2019-11-01 | $299,900 (0.5%) | $483,784 (2.6%) | 0.98 | 8,009 |
| 2019-12-01 | $302,500 (2.6%) | $496,273 (5.4%) | 1.01 | 8,043 |
| 2020-01-01 | $307,000 (4.3%) | $505,859 (5.9%) | 1.03 | 8,219 |
| 2020-02-01 | $317,200 (6.3%) | $518,300 (8.4%) | 1.04 | 8,201 |
| 2020-03-01 | $319,999 (7.1%) | $521,187 (8.5%) | 1.00 | 7,983 |
| 2020-04-01 | $314,500 (5.4%) | $506,423 (5.8%) | 0.99 | 7,801 |
| 2020-05-01 | $319,500 (8.3%) | $514,308 (8.1%) | 0.97 | 7,198 |
| 2020-06-01 | $324,950 (10.9%) | $531,555 (12.3%) | 0.96 | 6,495 |
| 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%) | $573,306 (18.5%) | 0.95 | 4,593 |
| 2020-12-01 | $324,288 (7.2%) | $578,744 (16.6%) | 0.97 | 4,352 |
| 2021-01-01 | $319,900 (4.2%) | $588,662 (16.4%) | 0.95 | 3,807 |
| 2021-02-01 | $321,950 (1.5%) | $605,808 (16.9%) | 0.94 | 2,922 |
| 2021-03-01 | $334,950 (4.7%) | $632,782 (21.4%) | 0.95 | 2,134 |
| 2021-04-01 | $349,450 (11.1%) | $643,117 (27.0%) | 0.95 | 1,924 |
| 2021-05-01 | $365,000 (14.2%) | $666,888 (29.7%) | 0.97 | 1,662 |
| 2021-06-01 | $371,125 (14.2%) | $675,697 (27.1%) | 0.98 | 1,804 |
| 2021-07-01 | $375,000 (15.4%) | $654,029 (19.4%) | 0.99 | 1,879 |
| 2021-08-01 | $394,950 (21.5%) | $677,805 (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%) | $704,980 (24.8%) | 1.13 | 1,929 |
| 2021-11-01 | $429,500 (32.2%) | $736,847 (28.5%) | 1.15 | 1,854 |
| 2021-12-01 | $437,000 (34.8%) | $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 (45.4%) | $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%) | $788,055 (22.5%) | 1.18 | 1,973 |
| 2022-05-01 | $499,000 (36.7%) | $781,253 (17.2%) | 1.14 | 2,526 |
| 2022-06-01 | $499,450 (34.6%) | $769,489 (13.9%) | 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 | 5,502 |
| 2023-05-01 | $494,500 (-0.9%) | $748,558 (-4.2%) | 1.12 | 5,628 |
| 2023-06-01 | $486,875 (-2.5%) | $735,984 (-4.4%) | 1.09 | 5,818 |
| 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 |
Cape Coral's median listing price comes in at 110% of the national average.
Cape Coral's average listing price for 2023-08-01 was $716,311, a difference of $-3,899 (-0.5%) versus the prior year and $-8,831 versus the prior month.
For the 2023-08-01 period, Cape Coral had 5,938 MLS listings, a difference of 14 listings (0%) versus the prior month and 1,740 listings (41%) 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 | 82 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 | 1,778 sqft |
| 2020-02-01 | 72 days | 1,788 sqft |
| 2020-03-01 | 67 days | 1,793 sqft |
| 2020-04-01 | 76 days | 1,772 sqft |
| 2020-05-01 | 86 days | 1,796 sqft |
| 2020-06-01 | 95 days | 1,788 sqft |
| 2020-07-01 | 90 days | 1,773 sqft |
| 2020-08-01 | 77 days | 1,758 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 | 1,735 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 | 1,707 sqft |
| 2021-05-01 | 39 days | 1,722 sqft |
| 2021-06-01 | 37 days | 1,746 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 | 1,783 sqft |
| 2021-11-01 | 46 days | 1,778 sqft |
| 2021-12-01 | 49 days | 1,761 sqft |
| 2022-01-01 | 49 days | 1,753 sqft |
| 2022-02-01 | 33 days | 1,764 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 | 1,753 sqft |
| 2022-09-01 | 54 days | 1,757 sqft |
| 2022-10-01 | 67 days | 1,770 sqft |
| 2022-11-01 | 73 days | 1,766 sqft |
| 2022-12-01 | 63 days | 1,741 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 | 1,721 sqft |
| 2023-07-01 | 65 days | 1,725 sqft |
| 2023-08-01 | 66 days | 1,733 sqft |
Cape Coral's median square footage for active listings during the 2023-08-01 period was 1,733 sqft. One year prior, the average listing was 1,753 sqft.