Question 1

Where does a jumbo loan start in Key West, FL?

Accepted Answer

In MONROE County, any single-family mortgage above $990,150 is a jumbo loan — outside Fannie Mae and Freddie Mac guidelines. This is one of the highest conforming limits in the nation, set by FHFA for this high-cost county. Jumbo loans are held in-portfolio by lenders and carry their own underwriting standards.

Question 2

What are jumbo loan requirements in Key West in 2026?

Accepted Answer

For a typical Key West jumbo purchase around $1,280,000: minimum 10% down ($128,000), 700+ credit score, 45% max DTI, 6 months reserves post-closing (approximately $45,402). Employment history of 2+ years in the same field, 24 months of tax returns (or bank statements for self-employed), and full asset documentation are standard.

Question 3

Are jumbo rates competitive in Key West?

Accepted Answer

In 2026, well-qualified jumbo borrowers in Key West (760+ FICO, 20%+ down, full-doc income) routinely see jumbo rates within 0.125%-0.25% of conforming rates. The jumbo-conforming rate spread has compressed significantly from historical norms. Shop at least 3 portfolio lenders and a mortgage broker — a 0.125% rate difference on $1,152,000 equals $120/month ($1,440/year).

Purchase price	$1,280,000
Down payment (10%)	—
Jumbo loan amount	—
Monthly P&I	—/mo
Reserves required	6 months

Jumbo Home Loans in Key West, FL

Jumbo Loan Math — Key West

Qualifying for a Jumbo Loan

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