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.
December 14, 2019
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%
The median home value for Cape Coral, FL (Lee County) is $240,846
The median household income for Cape Coral, FL (Lee County) is $53,643
Based on current mortgage rates and a 10% down payment, you need to make $44,684 per year to buy the median priced home in Cape Coral
The home price you can afford to buy based on household income in Cape Coral is 120% of the median home value which means housing prices are average
Cape Coral (Lee County) ranks 53 out of 67 counties in Florida and 2,868 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
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index