Cape Coral Mortgage Calculator - Monthly Payment with Taxes, PMI & Insurance
Cape Coral's SHIP Purchase Assistance Program offers up to $75,000 as a 0% deferred loan fully forgiven after just 7 years — one of the fastest forgiveness timelines in Florida. Lee County adds up to $34,000 through its HOME program. Combined with median home prices around $375,000, Cape Coral is an accessible market for first-time buyers in Southwest Florida.
Loan Details
$70,000 · LTV 80%
Buyer Profile
Extra Payment
Optional principal-only payment used to estimate payoff speed and interest savings.
Monthly Payment
$1,770 Principal & Interest · $361 Property Taxes · $125 Other
Methodology and limitations
Last reviewed:
Methodology
Uses standard principal-and-interest mortgage math, then models housing-cost inputs such as tax, insurance, PMI, and extra-payment scenarios where available.
Limitations
Planning estimate only. Actual approval, escrow, PMI, fees, taxes, insurance, and closing disclosures depend on lender, property, borrower profile, and local rules.
Official sources
- Consumer Financial Protection Bureau mortgage cost guidance
- Florida Department of Revenue Property Tax Data Portal
- Florida DOR documentary stamp tax
- Florida DOR nonrecurring intangible tax
- Florida DOR Save Our Homes assessment limitation
- Florida Housing Hometown Heroes funding status
- City of Cape Coral Housing and Grants Division — SHIP Program
- Lee County HOME Down Payment Assistance Program
Cape Coral Mortgage Calculator - Monthly Payment with Taxes, PMI & Insurance
Florida · Lee County
Cape Coral's SHIP Purchase Assistance Program offers up to $75,000 as a 0% deferred loan fully forgiven after just 7 years — one of the fastest forgiveness timelines in Florida. Lee County adds up to $34,000 through its HOME program. Combined with median home prices around $375,000, Cape Coral is an accessible market for first-time buyers in Southwest Florida.
Use this mortgage calculator for Cape Coral, Florida to estimate the monthly payment with principal, interest, configured annual taxes, eligible exemptions, and assistance programs when the buyer profile matches the conditions.
What This Estimate Uses
- Geographic level: city
- Configured property tax rate: 1.40%
- Configured benefits or exemptions: 4
- Reviewed sources: 8
What Changes in Cape Coral, Florida
- Data level used: city. This page uses the most specific available data layer for Cape Coral, Florida.
- Configured combined annual property tax rate: 1.40% before exemptions and buyer-specific conditions are applied.
- Configured down payment assistance programs: Cape Coral SHIP Purchase Assistance.
Local Tax Assumptions
These are the annual tax assumptions configured for this page. The calculator applies them to the appropriate value, then accounts for exemptions or conditions when the buyer selects them.
- Florida School Property Tax — 0.532%
- Florida Non-School Property Tax — 0.868%
Programs and Exemptions Included
These benefits do not mean automatic approval. The calculator models them when the buyer inputs match the configured eligibility conditions.
- Florida Homestead Exemption — $25,000 (requires: primary residence)
- Florida Additional Homestead Exemption — $25,000 (requires: primary residence)
- Cape Coral SHIP Purchase Assistance — $75,000 (requires: first-time buyer, primary residence, income is below the program cap, inCapeCoralCityLimits)
- Mortgage Credit Certificate (MCC) — 20% of mortgage interest (requires: first-time buyer, primary residence, buyer has a Mortgage Credit Certificate)
When This Estimate Can Change
- The actual property tax bill depends on the address, overlapping taxing jurisdictions, approved exemptions, and appraised value.
- Home insurance, flood insurance, HOA dues, and PMI can vary by property, lender, and buyer profile.
- Configured closing costs include Florida Deed Documentary Stamp Tax, Florida Mortgage Documentary Stamp Tax, Florida Nonrecurring Intangible Tax, but other settlement charges may appear on a real loan estimate.
Local Data and Sources
Last editorial verification: June 4, 2026. This page combines the official data layers configured for Cape Coral, Florida.
The sources used on this page are Consumer Financial Protection Bureau mortgage cost guidance, Florida Department of Revenue Property Tax Data Portal, Florida DOR documentary stamp tax, Florida DOR nonrecurring intangible tax, Florida DOR Save Our Homes assessment limitation, Florida Housing Hometown Heroes funding status, City of Cape Coral Housing and Grants Division — SHIP Program, Lee County HOME Down Payment Assistance Program. Each source lists which rate, exemption, or program it validates and when it was last reviewed.
- Consumer Financial Protection Bureau mortgage cost guidance — verified May 3, 2026 — General U.S. mortgage closing-cost and mortgage-cost guidance.
- Florida Department of Revenue Property Tax Data Portal — verified May 3, 2026 — Official source for the 2025 final Data Book workbooks used for Florida statewide and county property-tax millage rates.
- Florida DOR documentary stamp tax — verified May 3, 2026 — Official source for deed and mortgage documentary stamp tax rates, including Miami-Dade single-family treatment.
- Florida DOR nonrecurring intangible tax — verified May 3, 2026 — Official source for the 2 mills nonrecurring intangible tax on mortgage obligations.
- Florida DOR Save Our Homes assessment limitation — verified May 3, 2026 — Official source for Florida homestead assessment-cap rules and the 2026 Save Our Homes limitation.
- Florida Housing Hometown Heroes funding status — verified May 3, 2026 — Official source used to exclude Hometown Heroes as an active May 2026 DPA benefit because the 2025-2026 allocation was fully committed.
- City of Cape Coral Housing and Grants Division — SHIP Program — verified June 4, 2026 — Official source for Cape Coral SHIP Purchase Assistance Program offering up to $75,000 with 7-year full forgiveness.
- Lee County HOME Down Payment Assistance Program — verified June 4, 2026 — Official source for Lee County HOME DPA offering up to 10% of purchase price (max $34,200) as a forgivable second mortgage.
Frequently Asked Questions
What Florida property tax rate is used here?
The statewide estimate uses Florida Department of Revenue 2025 final taxes levied divided by 2025 taxable value: about 0.6563% for school taxes and 1.0449% for non-school taxes before homestead exemptions. County pages override those rates with DOR county millage data.
How does Florida homestead affect this calculator?
For a qualifying primary residence, the first $25,000 exemption reduces both school and non-school taxable value. A second $25,000 exemption reduces only non-school taxable value. The Save Our Homes cap then limits annual assessed-value growth for continuing homesteads.
What Florida closing taxes are included?
The estimate includes deed documentary stamp tax on the sale price, mortgage documentary stamp tax on the loan amount, and nonrecurring intangible tax on the mortgage obligation. County files can override rates where Florida law differs, such as Miami-Dade deed documentary stamp tax.
What Lee County property-tax benchmark is used?
This county page uses Florida DOR's 2025 county millage data, split into school and non-school components for the Florida homestead exemption calculation.
Can I really get $75,000 in Cape Coral with 7-year forgiveness?
Yes. The city's SHIP program offers up to $75,000 as a 0% deferred loan that's fully forgiven after just 7 years of owner-occupancy — one of the fastest forgiveness schedules in Florida. Lee County's HOME program adds up to $34,000 for buyers who qualify.
What are the income limits for Cape Coral DPA?
The city SHIP program requires household income at or below 120% AMI (approximately $88,560 for 1 person, $126,480 for 4 persons). The Lee County HOME program has lower limits at 80% AMI. Stack both programs if you qualify.
What are property taxes like in Cape Coral?
Lee County's combined rate averages 1.73% before exemptions. After Florida's $25,000 homestead exemption, the effective rate drops to about 1.2%. No state income tax in Florida provides additional savings.
Is Cape Coral affordable despite hurricane insurance costs?
Cape Coral's home prices ($375K median) are below the Florida average. While homeowners insurance is higher than inland areas, the combination of affordable home prices, $75K DPA with rapid forgiveness, and the $25K homestead exemption makes Cape Coral one of the most accessible Florida markets.
Cape Coral vs. Fort Myers: Which Lee County city has better buyer assistance?
Cape Coral's SHIP program offers up to $75,000 with 7-year forgiveness — the fastest forgiveness in Florida. Fort Myers (Lee County DPA) offers up to $75,000 but with different terms. Cape Coral's 7-year timeline means your loan is fully forgiven in half the time of most other programs. If you plan to stay 7+ years, Cape Coral is the better deal.