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 118 lenders originated 885 VA loans during 2023. The total origination value was $342,015,000, with an average VA loan value of $386,458.

Cape Coral VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Cape Coral averaged 6.85% for the week of 2024-06-14, compared to the national average (all VA variants) of 6.423% for the same period.

Cape Coral's average VA mortgage closing costs are $6,715.

The average rate for the prior week (2024-06-07) was 6.62% and one month ago for the week of 2024-05-10, the average rate was 6.73%.

The average rate one year ago was 6.47%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.91%.

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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Cape Coral level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 127 6.72% $8,099
UNITED WHOLESALE MORTGAGE, LLC 87 6.26% $13,426
DHI MORTGAGE COMPANY, LTD. 61 5.71% $6,375
EAGLE HOME MORTGAGE, LLC 54 5.96% $6,752
QUICKEN LOANS, LLC 50 6.03% $15,342
LOANDEPOT.COM, LLC 35 5.98% $13,284
NAVY FEDERAL CREDIT UNION 24 5.61% $8,565
MOVEMENT MORTGAGE, LLC 22 6.48% $9,284
USAA Federal Savings Bank 21 6.00% $10,273
CROSSCOUNTRY MORTGAGE, LLC 21 6.55% $10,503
FREEDOM MORTGAGE CORPORATION 17 6.50% $17,489
PULTE MORTGAGE LLC 16 5.99% $9,523
PENNYMAC LOAN SERVICES, LLC 14 6.20% $15,336
MORTGAGE 1 INCORPORATED 14 6.14% $10,764
EMBRACE HOME LOANS, INC. 12 6.25% $8,848
AMERICAN FINANCIAL NETWORK, INC. 11 6.60% $14,125
CARDINAL FINANCIAL 11 6.25% $14,731
GUARANTEED RATE, INC. 10 6.59% $10,275
HOMESIDE FINANCIAL, LLC 8 6.91% $8,753
Mid-Continent Funding, Inc. 8 6.26% $10,106
NEW DAY FINANCIAL, LLC 7 7.37% $11,060
NEWREZ LLC 7 6.29% $10,424
BROKER SOLUTIONS, INC. 6 6.71% $12,722
American Mortgage & Equity Consultants, Inc. 6 6.63% $17,796
Bank of England 6 6.50% $6,613
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.50% $10,951
Ixonia Bank 5 7.00% $8,365
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 5 6.60% $9,359
VILLAGE CAPITAL MORTGAGE 5 5.98% $10,855
The Federal Savings Bank 4 6.84% $17,573
AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.94% $15,580
Bell Bank 4 5.81% $15,615
AMERISAVE MORTGAGE CORPORATION 4 5.81% $19,895
KBHS HOME LOANS, LLC 4 5.91% $12,939
Plains Commerce Bank 4 6.09% $10,006
FBC MORTGAGE, LLC 4 6.19% $10,361
Paramount Residential Mortgage Group, Inc. 4 6.34% $5,111
HOMEBRIDGE FINANCIAL SERVICES, INC. 4 6.34% $14,574
EVERETT FINANCIAL, INC. 3 6.54% $8,816
Flagstar Bank, FSB 3 6.58% $9,405
PLANET HOME LENDING, LLC 3 6.46% $16,395
GENEVA FINANCIAL, LLC 3 6.58% $11,248
MILEND, INC. 3 7.17% $19,783
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.46% $23,963
GUARANTEED RATE AFFINITY, LLC 3 6.48% $7,978
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.63% $12,971
CMG MORTGAGE, INC. 3 6.92% $20,472
MUTUAL OF OMAHA MORTGAGE, INC. 3 5.88% $17,624
Mr. Cooper ( Nationstar Mortgage ) 3 5.83% $13,678
LOANPAL, LLC 3 5.91% $14,428
Magnolia Bank 3 6.29% $14,497
Barrington Bank & Trust Company, N.A. 3 6.25% $16,315
PENTAGON FEDERAL CREDIT UNION 3 5.71% $6,343
Equity Prime Mortgage LLC 2 6.25% $8,280
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.50% $9,478
BAY EQUITY LLC 2 6.37% $7,060
CALIBER HOME LOANS, INC. 2 6.38% $5,544
Century Mortgage Company DBA Century Lending Company 2 7.44% $5,613
CONTOUR MORTGAGE CORPORATION 2 6.25% $18,808
First Federal Bank 2 6.00% $9,254
GUILD MORTGAGE COMPANY 2 6.13% $15,768
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.25% $2,663
NBKC BANK 2 6.19% $12,469
NFM, INC. 2 6.19% $24,060
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 7.00% $20,113
RUOFF MORTGAGE COMPANY, INC. 2 6.31% $16,281
SECURITYNATIONAL MORTGAGE COMPANY 2 6.50% $23,065
South Pacific Financial Corporation 2 6.19% $11,720
SUN WEST MORTGAGE COMPANY, INC. 2 6.44% $8,833
Synovus Bank 2 6.81% $6,186
THE MORTGAGE WAREHOUSE,LLC 2 6.44% $9,389
VAN DYK MORTGAGE CORPORATION 2 7.13% $10,277
Waterstone Mortgage Corporation 2 6.13% $14,714
NATIONS RELIABLE LENDING, LLC 1 6.88% $20,257
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.99% $11,908
GERSHMAN INVESTMENT CORP. 1 5.75% $22,556
Watermark Capital, Inc. 1 6.99% $15,500
NEAL COMMUNITIES FUNDING, LLC 1 6.63% $11,602
NETWORK CAPITAL FUNDING CORPORATION 1 6.63% $7,072
First Western Trust Bank 1 6.13% $7,667
First Horizon Bank 1 6.63% $10,988
TJC Mortgage, Inc. 1 6.50% $7,370
NP, Inc. 1 6.75% $11,047
FIRST CENTENNIAL MORTGAGE CORPORATION 1 6.38% $3,446
FirstBank 1 6.75% $6,623
Fifth Third Bank 1 6.63% $4,538
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 7.25% $15,292
DRAPER AND KRAMER MORTGAGE CORP. 1 6.63% $9,091
PLAZA HOME MORTGAGE, INC. 1 5.75% $19,622
PREMIER MORTGAGE RESOURCES, L.L.C. 1 5.25% $14,792
Towne Bank 1 6.13% $13,426
DELMAR FINANCIAL COMPANY 1 6.88% $12,737
Prosperity Home Mortgage, LLC 1 5.25% $37,530
CORNERSTONE HOME LENDING, INC. 1 5.75% $20,686
Cornerstone First Mortgage, Inc 1 7.63% $6,123
RESIDENTIAL BANCORP 1 6.00% $16,032
BNC National Bank 1 5.75% $5,102
Armed Forces Bank 1 5.75% $17,676
Service Federal Credit Union 1 6.25% $3,830
Sierra Pacific Mortgage Company, Inc. 1 5.88% $5,176
Wells Fargo Bank 1 6.13% $15,800
South State Bank 1 5.75% $4,391
Strong Home Mortgage, LLC 1 5.25% $800
VERITAS FUNDING, LLC 1 6.25% $41,437
Ameris Bank 1 6.63% $17,418
THE EQUITABLE MORTGAGE CORPORATION 1 7.00% $4,106
LAKEVIEW LOAN SERVICING, LLC 1 6.75% $4,714
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 6.13% $10,261
MICHIGAN MUTUAL, INC. 1 7.13% $7,791
Lakeview Community Capital, LLC 1 5.75% $5,452
LADERA LENDING, INC. 1 6.50% $24,754
JPMorgan Chase Bank 1 6.49% $500
INTELLILOAN, INC. 1 7.00% $54,837
Carrington Mortgage Services, LLC 1 5.13% $3,485
INTEGRITY MORTGAGE LLC 1 7.25% $2,834
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.50% $6,146
M&T Bank 1 6.75% $9,566
HALLMARK HOME MORTGAGE, LLC 1 6.75% $8,986

The top Cape Coral VA lender as defined by loan originations is Mortgage Research Center, LLC, with 127 VA loans originated. Their average total fees are $8,099, which is $5,326 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Cape Coral VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($6,375), EAGLE HOME MORTGAGE, LLC ($6,752), Mortgage Research Center, LLC ($8,099), NAVY FEDERAL CREDIT UNION ($8,565) and EMBRACE HOME LOANS, INC. ($8,848).

The lowest rate Cape Coral VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.61%), DHI MORTGAGE COMPANY, LTD. (5.71%), EAGLE HOME MORTGAGE, LLC (5.96%), LOANDEPOT.COM, LLC (5.98%) and PULTE MORTGAGE LLC (5.99%).


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 (0.3%) 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%) $478,046 (-1.6%) 1.01 11,072
2019-03-01 $298,786 (-0.4%) $480,461 (-0.6%) 0.98 10,787
2019-04-01 $298,340 (-0.5%) $478,520 (-1.1%) 0.95 10,327
2019-05-01 $295,000 (-1.3%) $475,925 (-0.9%) 0.92 9,625
2019-06-01 $292,500 (-0.8%) $473,216 (-0.4%) 0.91 8,836
2019-07-01 $291,500 (-1.2%) $468,091 (-0.3%) 0.91 8,284
2019-08-01 $294,636 (1.7%) $466,019 (0.9%) 0.93 7,973
2019-09-01 $297,091 (2.8%) $465,068 (1.4%) 0.95 7,823
2019-10-01 $299,000 (3.1%) $466,709 (0.7%) 0.96 7,754
2019-11-01 $299,900 (0.5%) $483,804 (2.6%) 0.98 8,007
2019-12-01 $302,497 (2.6%) $496,296 (5.4%) 1.01 8,041
2020-01-01 $307,000 (4.3%) $505,884 (5.9%) 1.03 8,217
2020-02-01 $317,000 (6.2%) $518,311 (8.4%) 1.04 8,200
2020-03-01 $319,999 (7.1%) $521,190 (8.5%) 1.00 7,983
2020-04-01 $314,500 (5.4%) $506,433 (5.8%) 0.99 7,800
2020-05-01 $319,500 (8.3%) $514,308 (8.1%) 0.97 7,198
2020-06-01 $324,950 (11.1%) $531,570 (12.3%) 0.96 6,494
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%) $573,363 (18.5%) 0.95 4,591
2020-12-01 $324,019 (7.1%) $578,807 (16.6%) 0.96 4,350
2021-01-01 $319,900 (4.2%) $588,738 (16.4%) 0.95 3,805
2021-02-01 $321,575 (1.4%) $605,880 (16.9%) 0.94 2,920
2021-03-01 $334,950 (4.7%) $632,782 (21.4%) 0.95 2,134
2021-04-01 $349,450 (11.1%) $642,310 (26.8%) 0.95 1,923
2021-05-01 $364,000 (13.9%) $666,089 (29.5%) 0.97 1,659
2021-06-01 $370,725 (14.1%) $675,109 (27.0%) 0.98 1,802
2021-07-01 $375,000 (15.4%) $654,029 (19.4%) 0.99 1,878
2021-08-01 $394,850 (21.5%) $677,849 (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%) $705,031 (24.8%) 1.13 1,928
2021-11-01 $429,500 (32.2%) $736,847 (28.5%) 1.15 1,854
2021-12-01 $437,000 (34.9%) $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 (45.6%) $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%) $788,130 (22.7%) 1.18 1,973
2022-05-01 $499,000 (37.1%) $781,253 (17.3%) 1.14 2,526
2022-06-01 $499,450 (34.7%) $769,489 (14.0%) 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 5,503
2023-05-01 $494,500 (-0.9%) $748,639 (-4.2%) 1.12 5,626
2023-06-01 $486,750 (-2.5%) $736,037 (-4.4%) 1.09 5,816
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
2023-09-01 $470,000 (1.1%) $698,509 (-1.9%) 1.09 6,357
2023-10-01 $472,450 (2.7%) $699,954 (0.1%) 1.11 7,159
2023-11-01 $474,950 (3.3%) $707,121 (-0.5%) 1.13 7,943
2023-12-01 $475,415 (2.2%) $724,719 (1.0%) 1.16 8,449
2024-01-01 $480,950 (1.9%) $739,029 (2.8%) 1.17 9,175
2024-02-01 $477,000 (-0.5%) $740,771 (0.5%) 1.15 9,886
2024-03-01 $474,100 (-4.9%) $746,315 (-0.6%) 1.12 10,287
2024-04-01 $469,450 (-5.9%) $742,840 (-1.0%) 1.09 10,314
2024-05-01 $461,750 (-6.6%) $743,685 (-0.7%) 1.04 10,108
Cape Coral's median listing price for 2024-05-01 was $461,750, a difference of $-32,750 (-6.6%) versus the prior year and $-7,700 versus the prior month.

Cape Coral's median listing price comes in at 104% of the national average.

Cape Coral's average listing price for 2024-05-01 was $743,685, a difference of $-4,954 (-0.7%) versus the prior year and $845 versus the prior month.

For the 2024-05-01 period, Cape Coral had 10,108 MLS listings, a difference of -206 listings (-2%) versus the prior month and 4,482 listings (80%) 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 83 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 1,779 sqft
2020-02-01 72 days 1,788 sqft
2020-03-01 67 days 1,794 sqft
2020-04-01 76 days 1,773 sqft
2020-05-01 86 days 1,796 sqft
2020-06-01 95 days 1,788 sqft
2020-07-01 90 days 1,774 sqft
2020-08-01 77 days 1,760 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 1,734 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 1,706 sqft
2021-05-01 39 days 1,722 sqft
2021-06-01 37 days 1,745 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 1,784 sqft
2021-11-01 46 days 1,779 sqft
2021-12-01 49 days 1,761 sqft
2022-01-01 49 days 1,754 sqft
2022-02-01 33 days 1,765 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 1,754 sqft
2022-09-01 54 days 1,757 sqft
2022-10-01 67 days 1,770 sqft
2022-11-01 73 days 1,767 sqft
2022-12-01 63 days 1,742 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 1,722 sqft
2023-07-01 65 days 1,725 sqft
2023-08-01 66 days 1,733 sqft
2023-09-01 66 days 1,729 sqft
2023-10-01 61 days 1,737 sqft
2023-11-01 60 days 1,742 sqft
2023-12-01 66 days 1,738 sqft
2024-01-01 72 days 1,750 sqft
2024-02-01 67 days 1,748 sqft
2024-03-01 64 days 1,744 sqft
2024-04-01 72 days 1,734 sqft
2024-05-01 72 days 1,726 sqft
Cape Coral's median listing age (time on market) for 2024-05-01 was 72 days. This is 34% longer than the same period one year ago.

Cape Coral's median square footage for active listings during the 2024-05-01 period was 1,726 sqft. One year prior, the average listing was 1,734 sqft.

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.