American math · Florida rules · Prices August 2026, rents September 2026

Cape Coral mortgage calculator

What a Cape Coral mortgage costs each month, how long it runs, what it costs in total, and how much sooner it ends if you pay a little more. Built on monthly compounding and the 30-year fixed loan, and it charges you private mortgage insurance for exactly as long as the law lets a lender charge it, which is the line most calculators leave out.

Calculator

The purchase

20.0% down. The minimum on this price is $11,699. At 20% or more there is no mortgage insurance.

A US lender qualifies you on debt-to-income rather than at a stress-test rate, so this payment is the payment. What varies is the rate you are quoted: credit score, points paid at closing and the lender itself move it by more than half a point.

Payment frequency

An accelerated schedule is the monthly payment split in two or four and paid every two weeks or every week: thirteen monthly payments a year instead of twelve, which is where the shorter amortization comes from.

The contract length, not the amortization. At the end of it you renew at whatever rates are then available.

Paying it down faster

Most lenders cap annual prepayments at 10–20% of the original principal, and charge a penalty above it. Check your own commitment before planning around a large lump sum.

Where the money goes, year by year

Early payments are almost all interest. The crossover (the year principal finally exceeds interest) is the real shape of an amortized loan, and it is much later than most people expect.

Interest and principal paid in each year of the mortgageStacked columns, one per year. The lower band is principal, the upper band is interest. The same figures are listed in the table below.
PrincipalInterest
Show the first two years of the schedule
Amortization schedule, the first two years
PaymentAmountInterestPrincipalBalance
1$2,134.47$1,892.56$241.91$311,718
2$2,134.47$1,891.09$243.38$311,475
3$2,134.47$1,889.61$244.86$311,230
4$2,134.47$1,888.13$246.34$310,984
5$2,134.47$1,886.63$247.84$310,736
6$2,134.47$1,885.13$249.34$310,486
7$2,134.47$1,883.62$250.85$310,235
8$2,134.47$1,882.10$252.37$309,983
9$2,134.47$1,880.56$253.91$309,729
10$2,134.47$1,879.02$255.45$309,474
11$2,134.47$1,877.47$257.00$309,217
12$2,134.47$1,875.91$258.56$308,958
13$2,134.47$1,874.35$260.12$308,698
14$2,134.47$1,872.77$261.70$308,436
15$2,134.47$1,871.18$263.29$308,173
16$2,134.47$1,869.58$264.89$307,908
17$2,134.47$1,867.98$266.49$307,642
18$2,134.47$1,866.36$268.11$307,374
19$2,134.47$1,864.73$269.74$307,104
20$2,134.47$1,863.10$271.37$306,832
21$2,134.47$1,861.45$273.02$306,559
22$2,134.47$1,859.79$274.68$306,285
23$2,134.47$1,858.13$276.34$306,008
24$2,134.47$1,856.45$278.02$305,730

Derived from the figures above, not a lender's statement. A real schedule also depends on your closing date and the lender's rounding.

Your payment
$2,134.47
every month

Payment $2,134.47 every month. Paid off in 30 years. Total interest $456,447.

Monthly equivalent$2,134.47
Mortgage amount$311,960
Paid off in30 years
If you start now, aroundOctober 2056
Total interest$456,447
Total paid$768,407
Balance after 5 years$294,515
Principal 41%Interest 59%

An estimate from published figures, not a lender quote.

Florida taxes the loan, not just the house

This is the part that surprises buyers from Texas and most other states. Florida charges a documentary stamp tax on the promissory note at 35 cents per $100 and a non-recurring intangible tax on the mortgage itself at 2 mills: together 0.55% of the amount you borrow, payable at closing. On the $389,950 Cape Coral region median with 20% down that is a $311,960 loan and about $1,716 in tax on the borrowing alone; at 5% down it is $2,037. Put less down and it gets larger, which inverts the usual advice: here a smaller down payment costs you more at the table as well as more every month.

The other stamp, 70 cents per $100 on the deed, is the seller's by convention, at the standard Florida rate: Lee is not Miami-Dade, the one county that charges differently. It matters to you when you come to sell rather than when you buy.

PMI is the number to watch, not the rate

If you put down less than 20% on a conventional loan the lender adds private mortgage insurance to the payment. It insures the lender, not you, and on the $389,950 Cape Coral region single-family median it works out like this. At 5% down (a $370,453 loan) a representative rate is about 0.67% of the loan a year, or $207 a month. Federal law makes the lender terminate it automatically when the scheduled balance first reaches 78% of the purchase price, which on a 30-year loan at 7.28% happens in month 145. That is 12.1 years and about $30,000 of payments that buy you no equity at all. At 3% down it is $274 a month and roughly $42,200.

Two things shorten it. You can ask the lender to cancel at 80% rather than wait for 78%, which is a right under the Homeowners Protection Act if you are current on the loan, and paying extra principal gets you there faster, because the trigger is the balance on the schedule rather than what the house is worth. The calculator above moves the termination month when you add an extra payment. The buyer programs matter here too: Florida Housing's Hometown Heroes, up to 5% of the loan for eligible workers, goes toward the down payment, and a larger down payment is the one thing that removes the insurance altogether. Hometown Heroes is a second mortgage repaid when you sell or refinance.

The rate you are quoted is a personal number

This is the biggest difference from the Canadian pages on this site. There, CMHC publishes one premium schedule for the whole country and a lender either applies it or does not. Here the mortgage insurer prices you individually, mostly on credit score, and the same 5%-down loan can be quoted anywhere from about 0.4% to 1.3%. The bands used above are mid-market for a borrower around a 740 score. The loan rate itself moves too: Freddie Mac's survey had the 30-year fixed at 7.28% on 1 October 2026, against 6.34% a year earlier. Get a real quote before treating any of these totals as yours.

Monthly compounding, and why the Canadian number would be wrong

An American fixed-rate mortgage compounds monthly: the periodic rate is simply the annual rate divided by twelve. Canadian mortgages compound twice a year, which makes the same nominal rate slightly cheaper. On a $311,960 loan at 7.28% over 30 years the American payment is $2,134.47 and the Canadian convention would give $2,111.63: $23 a month, or about $8,200 over the life of the loan. This site runs both, and no page borrows the other country's arithmetic.

A biweekly plan is thirteen payments, not clever compounding

Paying half the monthly payment every two weeks means twenty-six half-payments a year, which is thirteen monthly payments' worth of money instead of twelve. On the benchmark loan with 20% down that takes a 30-year mortgage to about 24 years and saves roughly $118,900 in interest. There is nothing magic in it (it is simply paying about 8% more every year) and you can get the identical result by adding a twelfth of the payment to each monthly one, without a servicer's enrollment fee.

What this cannot tell you

The payment above is principal and interest, plus PMI where it applies. Your actual monthly bill will include property tax and homeowners insurance, which the lender will usually escrow: on a $389,950 house that is about $447 a month in tax at the 1.38% homesteaded rate and roughly $475 in insurance, so about $3,056 all in at 20% down. The City's fire service, stormwater and solid waste assessments, about $90.04 a month on a typical house, come on the same tax bill and into the same escrow. That rate assumes you have filed for the homestead exemption, which is not automatic, and it is worked out for an address inside the City of Cape Coral: North Fort Myers, Matlacha and the rest of unincorporated Lee County levy different rates, and a Cape Coral mailing address is not proof of which one you are in.

Three Cape Coral things it cannot tell you at all. Flood insurance is a separate policy from the homeowners figure and is in no number on this page; from 2027 every Citizens homeowners policy with wind cover has to carry flood as well, and on an older house below today's flood elevation FEMA's substantial improvement rule, which the City applies at half the building's depreciated value, decides how much work it can take. A Utilities Extension Project assessment, on a lot in the north still on a well and septic tank: the two latest areas cost $33,367 and $32,288 on a standard lot paid up front, or up to $3,734 a year on the tax bill for thirty years, a lien that stays with the lot. Once connected, the City's water, sewer and irrigation charges come to $163.04 a month at 5,000 gallons. And the fact that a homesteaded assessment resets to what you paid on the roll after you buy, so the seller's tax bill is no guide to yours. For the full comparison against renting, use the rent versus buy calculator.

Sources

  1. Market insights report, August 2026: market summary and Cape Coral region · Royal Palm Coast Realtor Association · retrieved
    Supports: A Cape Coral region single-family median sale price of $389,950 in August 2026 against $367,500 in August 2025, up 6.1%, on 442 closed sales against 441, Cape Coral region single-family active inventory of 2,162 against 2,722, and 4.9 months' supply against 6.2, A Cape Coral region condominium median of $206,000 on 38 closed sales in August 2026, A market-wide single-family median of $365,000 for Lee and Hendry counties excluding Bonita Springs and Estero, against $355,000 a year earlier, Separate region pages for Fort Myers, Fort Myers Beach, Lehigh Acres, North Fort Myers, Pine Island and Sanibel; data from the Southwest Florida MLS, updated 4 September 2026
  2. Annual estimates of the resident population for incorporated places and counties, 2020 to 2025 · United States Census Bureau, Population Estimates Program · retrieved
    Supports: A population of 236,264 for Cape Coral city on 1 July 2025, against 233,108 a year earlier and an April 2020 estimates base of 194,004, all of it in Lee County, A population of 875,607 for Lee County on 1 July 2025
  3. 2025 Gazetteer files: places, Florida · United States Census Bureau · retrieved
    Supports: A land area of 106.265 square miles and a water area of 13.366 square miles for Cape Coral city
  4. 2025 millage rates for Lee County, Florida: taxing district millage book (district 057, City of Cape Coral) · Lee County Property Appraiser · retrieved
    Supports: District 057, City of Cape Coral, 2025 tax roll millage: Lee County general revenue 3.7623; public school by local board 2.2480 and by state law 3.0710; City of Cape Coral 5.1471 (rollback 5.1471, proposed 5.5188); Lee County All Hazards Protection District 0.0693; Lee County Library District 0.4218, SFWMD district-wide 0.0948, Everglades Construction Project 0.0327 and Okeechobee basin 0.1026; Lee County Hyacinth Control District 0.0192; Lee County Mosquito Control District 0.2116; West Coast Inland Navigation District 0.0394; City of Cape Coral parks voted debt service 0.1608, A total of 15.3806 for districts 057 and 056, and the same City levies in the redevelopment expansion districts 273, 279 and 314, The Lee County unincorporated MSTU at 0.8398 and the North Fort Myers and Bayshore fire districts at 3.5000 on the countywide page, none of them in district 057, A listing that does not include any non ad valorem special assessments
  5. Cape Coral council sets fiscal 2027 property tax cap rate · Gulfshore Business · retrieved
    Supports: A maximum operating millage of 5.1988 for fiscal 2027, the rolled-back rate against the prior year's 5.1471, set by the City Council on 22 July 2026 (the report was published 23 July), A 0.1554-mill levy for the parks general obligation bond, A fire service assessment of $515.43 on the average single-family home valued at about $275,000, a 4.58% decrease; stormwater at $163, up $7
  6. Cape Clips: highlights from the August 26, 2026, City Council meeting · City of Cape Coral · retrieved
    Supports: Fire service assessment for 2026-27: the flat tier from $349.32 to $341.63 a parcel and the structure tier from $3.47 to $3.16 per equivalent benefit unit, the average single-family home from $540.17 to $515.43, Stormwater from $156 to $163; solid waste for individual residential households unchanged at $384.25
  7. Tax billed assessments (non-ad valorem taxes) · City of Cape Coral, Customer Billing Services · retrieved
    Supports: Stormwater at $156.00 per equivalent residential unit for fiscal 2026 and $149.00 for 2025, A fire service assessment of $349.32 per parcel (Tier 1) and $3.47 per $5,000 of structure value (Tier 2) for fiscal 2026, against $278.84 and $3.07 for 2025, Solid waste at $384.25 per dwelling unit for fiscal 2026 and $345.76 for 2025; lot mowing by district on vacant lots, Utilities Extension Project assessments on a standard 10,000-square-foot parcel: North 1 West $33,367 prepaid or $35,930 financed at 6.50%, first on the taxes in 2024; North 1 East $32,288 prepaid or $33,142 financed at 6.25%, first on the taxes in 2026; 30-year default terms, Maximum annual installments for North 1 West of $812, $1,490 and $660 for water, sewer and irrigation line extension and $131, $383 and $258 for capital facility expansion charges; for North 1 East $855, $997, $803, $126, $360 and $244, Utilities extended to nearly all of south Cape Coral and work under way north of Pine Island Road
  8. Water, wastewater and irrigation rate schedules, effective 1 October 2026 · City of Cape Coral, Financial Services · retrieved
    Supports: A water capacity charge of $25.36 a month on a 5/8-inch meter and a residential commodity charge of $5.44 per thousand gallons to 5,000, A wastewater capacity charge of $32.83 a month and $12.85 per thousand gallons, Single-family irrigation at a flat $13.40 a month
  9. City of Cape Coral GIS: Ownership, Canals and Bridges layers · City of Cape Coral, ArcGIS Server · retrieved
    Supports: 137,402 parcels, 93,343 with City water available and 91,771 with City sewer, the rest in the Utilities Extension Project's North areas, 20,889 lots marked on salt water, 16,881 on fresh water and 406 on the river, Saltwater canals in five navigation systems on the Canals layer (PublicWorks MapServer 11), and 160 bridges with vertical clearances on the Bridges layer (PublicWorks MapServer 0)
  10. Tropical cyclone report: Hurricane Ian, 23 to 30 September 2022 · National Hurricane Center · retrieved
    Supports: Landfall on the barrier island of Cayo Costa at 1905 UTC on 28 September 2022 at 130 knots, and near Punta Gorda at 2035 UTC, Maximum inundation of 6 to 9 feet above ground level in Pine Island, Cape Coral and other communities along the mouth of the Caloosahatchee River, with sensors in Matlacha and Cape Coral lost or destroyed, 36 of the 41 storm surge fatalities in Lee County, and at least 52,514 structures affected in Lee County, 5,369 destroyed and 14,245 with major damage, An estimated $112.9 billion of damage in the United States, $109.5 billion of it in Florida
  11. Notice to industry: substantial improvement and substantial damage, and the FEMA 50% rule notice · City of Cape Coral, Development Services · retrieved
    Supports: Substantial improvement as any repair, reconstruction, rehabilitation, alteration, addition or other improvement whose cost equals or exceeds 50% of the market value of the building before the work, and any repair of a substantially damaged building, City staff comparing the cost of the work with the depreciated market value of the building, and a building at or over 50 percent brought into compliance with the floodplain rules for new buildings, its lowest floor elevated, From 10 July 2025, under HB 683 and SB 180 (2025), determinations made per permit rather than on aggregate improvements
  12. Cape Coral helps Hurricane Ian recovery, removing five-year look-back for FEMA's 50% rule · Woodward, Pires & Lombardo, P.A. · retrieved
    Supports: Ordinance 96-22, approved 30 November 2022, removing the five-year cumulative count of repairs and additions from the City's substantial damage determination
  13. Additional homestead exemption adjustment, revised January 2025 · Florida Department of Revenue · retrieved
    Supports: A CPI change of 2.9% and a maximum additional exemption of $25,722 for 2025, against the $25,000 base year of 2024
  14. Exemption information pamphlet · Lee County Property Appraiser · retrieved
    Supports: A homestead exemption of up to $50,000: the first $25,000 against all taxes and an additional $25,000 on assessed value over $50,000 for all levies other than school taxes, Applications on Form DR-501 by 1 March, and portability to a new homestead established within three years of 1 January of the year the old one was abandoned
  15. Zillow Home Value Index, all homes, single-family and condominium series, by city · Zillow Research · retrieved
    Supports: A typical home value of $335,825 for the city of Cape Coral (region 30742, Lee County) in August 2026, against $349,486 in August 2025, down 3.9%, A typical single-family value of $346,047 against $359,529, down 3.7%, and a typical condominium value of $191,729 against $211,186, down 9.2%, from the single-family and condominium files
  16. Zillow Observed Rent Index, by city and single-family by metro · Zillow Research · retrieved
    Supports: An observed rent index of $1,949 for the city of Cape Coral in August 2026, against $1,929 a year earlier, up 1.0%, A single-family observed rent index of $2,154 for the Cape Coral metro area (region 394440) in August 2026, from the metro single-family file
  17. Rent estimates summary, September 2026 · Apartment List · retrieved
    Supports: For Lee County, September 2026: $1,258 overall, $1,032 for one bedroom and $1,186 for two, with rents down 0.61% on the month and 4.8% on the year, No row for the City of Cape Coral among the file's cities
  18. Apartments for rent in Cape Coral, FL: average rent · Apartment List · retrieved
    Supports: Average listed rents of $1,336 and up for a studio, $1,607 and up for one bedroom, $1,832 and up for two, and $2,419 and up for three or more
  19. Median household income, median home value, median gross rent and tenure, tables B19013, B25077, B25064 and B25003, 2024 American Community Survey 1-year estimates · United States Census Bureau, via the Census Reporter API · retrieved
    Supports: A median household income of $85,584 in Cape Coral city, against $83,602 in Lee County and $77,735 for Florida, A median owner-occupied home value of $401,800 in Cape Coral city, 69,402 of Cape Coral's 87,681 occupied homes owner-occupied, and a median gross rent of $1,998 against $1,812 for Florida
  20. Median gross rent by bedrooms, table B25031, 2024 American Community Survey 1-year estimates, Cape Coral city · United States Census Bureau, via the Census Reporter API · retrieved
    Supports: A median gross rent of $1,719 for one bedroom, $1,702 for two, $2,272 for three and $2,637 for four
  21. Monthly homeowners' association and condominium fee, tables B25142 and B25143, 2024 American Community Survey 1-year estimates, Cape Coral city · United States Census Bureau, via the Census Reporter API · retrieved
    Supports: 8,351 of 69,402 owner-occupied units, or 12%, paying a homeowners' association or condominium fee, A median monthly fee of $386 among them, and 1,993 paying $500 or more a month
  22. Primary Mortgage Market Survey, 1 October 2026 · Freddie Mac · retrieved
    Supports: A 30-year fixed-rate mortgage averaging 7.28%, up from 7.03% the week before and 6.34% a year earlier
  23. Documentary stamp tax · Florida Department of Revenue · retrieved
    Supports: 70 cents on each $100 of consideration on a deed in every county except Miami-Dade, 35 cents per $100 on a promissory note, capped at $2,450
  24. Rule 69O-186.003, Florida Administrative Code: title insurance rates · Florida Department of State, Florida Administrative Code · retrieved
    Supports: An owner's title insurance premium of $5.75 per $1,000 of liability to $100,000 and $5.00 per $1,000 from $100,000 to $1 million
  25. Florida homeowners insurance · NerdWallet · retrieved
    Supports: An average Cape Coral premium of $3,695 a year, $308 a month, against $3,725 in Fort Myers, on a sample policy with $500,000 of dwelling cover, updated 20 February 2026
  26. Best home insurance in Florida (2026) · Insurify · retrieved
    Supports: An estimated average annual premium of $8,688 in Cape Coral for $300,000 of dwelling cover, against $10,296 in Naples and $13,716 in Port Saint Lucie, current as of 30 September 2026
  27. Renters insurance in Florida · NerdWallet · retrieved
    Supports: An average Cape Coral renters premium of $140 a year, $12 a month
  28. Section 627.701, Florida Statutes: liability of insureds; hurricane deductibles · The Florida Legislature · retrieved
    Supports: An insurer offering hurricane deductibles of $500, 2%, 5% and 10% of the policy dwelling limits
  29. Flood: Citizens' flood insurance requirements · Citizens Property Insurance Corporation · retrieved
    Supports: Under section 627.715, Florida Statutes, most new and renewing Citizens personal residential policies with wind coverage required to carry flood insurance by 1 January 2027, Homes in a FEMA special flood hazard area required already
  30. FloodSmart · Federal Emergency Management Agency, National Flood Insurance Program · retrieved
    Supports: Most homeowners insurance not covering flood damage
  31. SB 4-D (2022): Building Safety, chapter 2022-269, Laws of Florida · The Florida Senate · retrieved
    Supports: Milestone inspections required of condominium and cooperative associations, and a prohibition on waiving or reducing reserves for certain items after a specified date
  32. Florida Hometown Heroes Housing Program · Florida Housing Finance Corporation · retrieved
    Supports: Down payment and closing cost assistance for first-time, income-qualified buyers in eligible occupations employed full time by a Florida-based employer, Up to 5% of the first mortgage, a maximum of $35,000 and a minimum of $10,000, as a 0%, non-amortizing, 30-year deferred second mortgage that is not forgivable

These are estimates built from published figures, not a lender quote, a pre-approval or financial advice. Rates, premiums and state and federal rules change; confirm anything you plan to act on with a mortgage professional and read the sourcing methodology.