Property Tax
Without homestead
Lee County millage works out to roughly 1.0–1.3% of assessed value. Investment properties and second homes don't qualify for homestead. Expect $4,500–$5,850/yr on a $450K home.
Cape Coral Mortgage Calculator
Your real monthly cost. Not a Zillow guess.
Most calculators miss the Florida costs that change the payment: wind insurance, flood insurance, HOA or CDD where applicable, and Cape Coral utility assessments.
PITI
Insurance
Flood
PMI
HOA / CDD
Assessment awareness
Your Numbers
$90,000 down
Lee County avg: ~1.1%. Homestead reduces assessed value.
Cape Coral average anchor: ~$2,520/yr. Older waterfront homes can be higher; newer/mitigated homes can be meaningfully lower.
Varies by FEMA zone + elevation. Canal homes: $800–$3,500.
Plug in your scenario.
Florida-Specific Costs
Reduces assessed value by $50K, caps annual increases at 3%.
Loan Types
Florida loan-type comparison.
Different programs, different requirements and costs. Here's how they stack up for SWFL buyers.
| Feature | Conventional | FHA | VA | USDA |
|---|---|---|---|---|
| Min Down Payment | 3–5% | 3.5% | 0% | 0% |
| PMI Required | If < 20% down | Always (MIP) | No | Annual fee |
| Min Credit Score | 620+ | 580+ (3.5% down) | No official min | 640+ |
| Max DTI | 45–50% | 43–50% | 41% (flexible) | 41–44% |
| Eligibility | Anyone | Anyone | Veterans only | Rural areas |
| FL Note | Most common | Good for lower credit | Best deal if eligible | Parts of Cape Coral qualify |
| Best For | Strong credit buyers | First-time buyers | Military/veterans | Low-income rural |
Florida Buyer Costs
The real cost of SWFL ownership.
Property Tax
With homestead
Primary residences get a $50K assessed-value reduction and the Save Our Homes 3% annual cap. Over years, this compounds into serious savings. File by March 1 of your first year.
Hazard
SWFL insurance
The default calculator uses a Cape Coral average anchor around $2,520/yr. The real quote depends on roof age, construction year, impact protection, distance to water, claims history, and the current carrier appetite.
Flood
FEMA zones
Most of Cape Coral and river-adjacent Fort Myers sit in a FEMA flood zone. Flood insurance is separate from hazard and often required by lenders. Cost: elevation cert, zone, construction.
Wind
Mitigation credits
Florida law requires insurers to discount for mitigation features: hip roof, impact windows/doors, secondary water resistance, reinforced garage, shutters. A $75–$150 inspection saves $500–$2,000/yr.
Fees
CDD vs HOA
Community Development Districts (CDDs) are special taxing districts in newer developments, paid via tax bill. HOAs cover amenities. Some neighborhoods have both. Check before you close.
Want help walking through the numbers?
If the all-in monthly surprises you, it usually does.
Book a call. We’ll talk through what’s driving it and where the real levers are. We’ll connect you with vetted local lenders and insurance agents: the ones we trust our own clients with.