Compare mortgage rates and fees for leading lenders in Cape Coral, FL. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Cape Coral.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Cape Coral. Plus, shopping lenders is free and there is no obligation.
August 13, 2020
The current average rate for a 30 year fixed rate mortgage in Cape Coral is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
Below we provide helpful information on the real estate market, home prices and housing affordability in Cape Coral. Understand how much you need to earn to afford a home in Cape Coral, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Cape Coral fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Cape Coral is right for you.
The median home value for Cape Coral, FL (Lee County) is $251,925
Based on current mortgage rates and a 10% down payment, you need to make $45,340 per year to buy the median priced home in Cape Coral
With this income, you could qualify for a $226,732 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Cape Coral is $1,050
The median household income for Cape Coral, FL (Lee County) is $54,896
Based on this income, you can afford a home valued at approximately $305,023
The home price you can afford to buy based on household income in Cape Coral is 121% of the median home value which means housing prices are average. Cape Coral (Lee County) ranks 52 out of 67 counties in Florida and 2,849 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Cape Coral, FL is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Cape Coral (Lee County) below.
Conforming loan limits for Cape Coral, FL
FHA loan limits for Cape Coral, FL
VA loan limits for Cape Coral, FL