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 Rates subject to change without notice

 Conforming Loan amounts up to $548,250 | FHA Loan Limits are specific to each Florida County
Check to See Florida FHA loan limits here

Florida Keys Mortgage Programs

Your Key West Mortgage Concierge 

Whether you’re a new home buyer, or you’ve purchased a home before, it’s important to evaluate what type of mortgage fits your lifestyle. Our Mortgage Experts will help you consider your goals as a homeowner and provide the best financing solution. Let us help you better understand the home buying process and your options.

Key West First-Time Home Buyer Programs

Our First-Time Home Buyer Programs help hopeful homeowners even if they are low- to moderate-income individuals. These programs also assist Americans in securing mortgages when they don’t have the best credit scores. Some even cater to specific professions like those in Firefighter, Law Enforcement, Educators, Health Care Workers and the Military.

Key West Down Payment Assistance Program

This program is ideal for homebuyers who don’t have the funds to cover the cash required at closing or for those who have the cash but need it for expenses such as home improvements, an emergency fund or education. The benefits include flexible funding and over 100% financing. All buyers must complete Fannie Mae Buyers Education Classes for ALL to qualify.

Key West Self-Employed | Business Owners Mortgage

When you are self-employed or a business owner and you want to buy a home, you fill out the same application as everyone else. The same factors are considered: your credit score, how much debt you have, your assets and your income. So what’s different? When you work for someone else, lenders go to your employer to verify the amount and history of that income, and how likely it is you’ll keep earning it.


New Construction Mortgages

Florida Keys Construction Mortgage Loans

Our New Construction Programs is a one-close construction loan:

  • 70% LTV with no requalification required post-construction
  • 90% LTV option with requalification required post-construction
  • Simple and flexible draw process with no set schedules

Conforming Mortgages

Florida Keys Conforming Mortgage Loans

Conforming mortgages are ideal for borrowers with good or excellent credit. The maximum Conforming Loan amount in 2020 is $510,400. They follow fairly conservative guidelines for:

  • Borrower credit scores – min 620.
  • Minimum down payments of 3%.
  • Debt-to-income ratios under 50%.

FHA Mortgages

Florida Keys FHA Mortgage Loans

FHA mortgages have flexible lending standards to benefit up tp $529,000:

  • Minimum Down Payment of 3.5%.
  •  Minimum score of 620.
  • Homebuyers with small down payments and refinancers with little equity.

Jumbo Mortgages

Florida Keys Jumbo Mortgage Loans

Jumbo mortgages are home loans that exceed conforming loan limits of $548,250 for 2021. A jumbo loan is one way to buy a high-priced or luxury home:

  • Credit scores as low as 680 may qualify
  • Buy a home with as little as 10% down payment
  • Loan amounts up to $5,000,000

Renovation Mortgages

Florida Keys Renovation Mortgage Loans

Our renovation remodeling loans allow you to roll the costs of repairs or upgrades. Benefits include:

  • One Loan: The loan covers the purchase plus renovation costs
  • Renovation work can begin immediately
  • Simplicity: Just one application, one closing, and one monthly payment

Veterans [ VA ] Mortgages

Florida Keys Veterans Mortgage Loans

Because the VA guarantees a portion of your loan, you won’t need to pay mortgage insurance:

  • Credit scores as low as 620 may qualify
  • Buy a home with as little as $0 down
  • Certificate of Eligibility
  • VA loans were designed to offset common financial challenges faced by military families and veterans.

Investment Home Mortgages

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Thinking of buying an additional property for a new source of income? That would be considered an investment home with long or short terms rentals:

  • Minimum down payment of 15%
  • Minimum credit score 700
  • Debt to income ratio under 43%

Second Home Mortgages

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Buying a second home or vacation home is a dream for many Americans. It commonly is a good decision for retirement:

  • Minimum down payment of 10%
  • Minimum credit score 680
  • Debt to income ratio under 43%

*Assumes 2.799% APR, 20% down payment, and conforming 30-year fixed rate first mortgage on a single family, primary residence. The monthly payment you enter includes only principal and interest. Additional required amounts such as taxes, insurance, home owner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Not all individuals will qualify for a mortgage loan based on the payment entered. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice.  **Posted APR is based on Mortgage Assumptions
 
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