Cape Coral’s housing market has normalized after the 2021–2022 frenzy. Median sale price sits at $390,000 (March 2024), up 6% year-over-year but down from the $420K peak of June 2022. Homes now average 28 days on market—double last year’s pace—giving buyers room to negotiate closing-cost credits or inspection repairs. Single-family inventory stands at 3.2 months, still a seller’s market but trending toward balance.

• 33914 (Southwest Cape): $450K median, 22 DOM, gulf-access canals
• 33990 (Central): $365K median, 30 DOM, freshwater lakes
• 33909 (North/Northeast): $340K median, 35 DOM, newer subdivisions, USDA-eligible

Investor activity has cooled from 28% to 17% of transactions, opening doors for first-time buyers using 3.5% down FHA or 100% USDA on the east side of Burnt Store Road. Construction permits are down 12% as builders focus on spec inventory, so resale competition remains tight under $400K.

First-time buyers flock to Sandoval and Caloosahatchee—master-planned communities with resort pools, fitness centers, and walking trails. Entry-level three-bedrooms trade in the mid-$300s, and HOA fees ($180–$220) are counted in NMHL’s debt-to-income calculator up-front so there are no surprises. If you prefer no HOA, look north of Pine Island Road in the 33909 zip; homes built after 2010 often feature tile roofs, granite counters, and oversized lots still priced under $350K.

For commuters, Mariner Corridor along SE 24th Ave offers quick access to I-75 and prices $20K–$30K below the city median. Veterans like the area because it’s five minutes from the VA Clinic on Diplomat Pkwy. Self-employed buyers gravitate to Northwest 05/06 where half-acre lots accommodate trucks and equipment; NMHL’s bank-statement program lets you qualify with deposits rather than taxable income.

Cape Coral buyers can stack multiple assistance layers. Start with Florida Assist Second Mortgage—$10,000 at 0% interest, deferred until you sell or refinance. Add Lee County SHIP if your household income is ≤80% AMI: up to $50,000 forgivable over ten years. Teachers, nurses, and first responders use Hometown Heroes for 5% of the loan amount (max $35,000) at zero interest with no monthly payment.

NMHL pairs these grants with FHA, VA, USDA, or conventional loans. On a $350K purchase, a teacher earning $65K can combine 3.5% down FHA with $35K Hometown Heroes and only bring $2,250 to closing—less than the appraisal and inspection costs.

Lee County’s total millage for Cape Coral is 18.9 mills (about 0.95% of assessed value). A $390,000 home with a homestead exemption is assessed at roughly $330,000, yielding an annual tax bill of $3,135—or $261/month. Non-homestead investors pay the full 0.95%, so budget $3,705.

Windstorm insurance runs $2,400–$4,200 depending on construction year and wind-mitigation features. Homes built after 2002 (post-Andrew codes) earn large discounts; order a $150 wind-mit inspection at application and we’ll use the lower premium in your debt-to-income ratio. Flood insurance is separate: AE zones along canals average $650/year, while VE zones near the river can exceed $2,000. NMHL’s escrow team combines tax, wind, and flood into one monthly payment so you’re never caught off-guard.

Big banks decline files that we close daily. Our Fresh-Start FHA goes to 580 credit with 3.5% down and allows 2×30-day late payments in the last 12 months. Fresh-Start Conventional accepts 550 scores with 10% down, no PMI, and debt-to-income ratios up to 50% with compensating factors like 3-month reserves.

Self-employed? Use Bank-Statement Express with 12 or 24 months of statements; no tax returns, no 4506-T. Veterans choose VA Advantage—550 minimum, manual underwriting, and we’ll count disability income plus BAH. Investors purchasing rental homes near Santa Barbara Blvd can close under DSCR Express using only the property’s cash-flow, no personal income docs required.

Every program features NMHL RapidClose: underwrite within 24 hours, appraisal ordered same day, and an average 19-day close in Cape Coral this year.

In Cape Coral’s competitive market, sellers won’t review an offer without a legitimate pre-approval letter. Upload your last 30 days of pay stubs, two months of bank statements, and a driver’s license through NMHL SnapUpload. Our AI engine issues an automated decision in 90 seconds; a human loan officer reviews numbers and calls you within one business hour to fine-tune program choice and monthly payment.

We’ll send you a Cape Coral Buyer Packet that includes a custom market report for your target zip, inspection contacts who know seawall and pool codes, and a list of closing-attorney offices that turn docs around in 48 hours. Whether you’re buying a gulf-access pool home in the 33914 or a USDA-eligible new build in 33909, NMHL keeps your offer strong and your closing on time.

Ready to shop? Tap Apply Now or call 239-555-HOME to speak with a Cape Coral loan officer today.