Monroe County, Florida (Keys) loan limits — 2026.
Key West, Marathon, Islamorada, Key Largo, Big Pine Key, Cudjoe Key, Sugarloaf.
2026 high-cost loan limits at a glance
Monroe County is the only high-cost county in Florida. The high-balance conforming and FHA limits are both elevated to $986,300 — the HERA ceiling for high-cost areas.
| Program | 1-unit | 2-unit | 3-unit | 4-unit |
|---|---|---|---|---|
| VA (full entitlement) | No limit | No limit | No limit | No limit |
| VA (partial entitlement) | $986,300 | $1,262,700 | $1,526,400 | $1,897,250 |
| High-Balance Conforming | $986,300 | $1,262,700 | $1,526,400 | $1,897,250 |
| FHA | $986,300 | $1,262,700 | $1,526,400 | $1,897,250 |
| Jumbo | > $986,300 | > $1,262,700 | > $1,526,400 | > $1,897,250 |
High-balance conforming pricing is typically 0.25%–0.5% better than true jumbo — a real advantage for Keys buyers between $832,750 and $986,300.
Picking the right program in the Keys
Key West Old Town, Casa Marina, Truman Annex: Mostly jumbo. Older historic homes need a careful appraisal and insurance review before locking — we screen both upfront.
Islamorada, Marathon, Big Pine waterfront: Wind and flood insurance are the biggest factors in your monthly payment. We model the full PITI with realistic insurance estimates before quoting your rate.
Condos on the water: Warrantability is the biggest hurdle. Older Keys condo buildings often have insurance reserve issues. We use portfolio jumbo for non-warrantable buildings.
Short-term rentals: STR rules vary by municipality across Monroe. DSCR loans qualify on projected nightly income — we verify legal STR use before pricing.
Florida Keys loan FAQs
What is the 2026 conforming loan limit in Monroe County, FL (the Keys)?+
Monroe County is Florida's only high-cost county. The 2026 high-balance conforming loan limit is $986,300 for a single-family home — meaningfully above the $832,750 baseline used in the rest of Florida.
What is the 2026 FHA loan limit in Monroe County?+
The 2026 FHA one-unit loan limit in Monroe County matches the high-balance conforming ceiling at $986,300 — the maximum allowed under HERA for any high-cost county.
What is the 2026 VA loan limit in the Keys?+
Veterans with full VA entitlement have no hard loan limit and can borrow above $986,300 with zero down. Veterans with partial entitlement are capped at the county high-cost limit of $986,300.
When do I need a jumbo loan in the Florida Keys?+
Any loan above $986,300 in Monroe County is jumbo. Most Key West Old Town, Islamorada waterfront, and Marathon canal-front homes above the high-cost limit require jumbo financing.
Are Keys properties harder to finance?+
Yes — wind insurance, flood insurance (almost all Keys property is in a flood zone), elevation requirements, and condo warrantability all add complexity. We have lenders specifically experienced with Keys property and can model the full PITI before quoting.
Can I finance a short-term rental in the Keys?+
It depends on the municipality. Monroe County, Key West, Islamorada, and Marathon each have different STR rules. We verify legal STR use before pricing, and use DSCR loans that qualify on projected nightly income for legal short-term rentals.
Buying in the Keys?
Full PITI with realistic wind and flood insurance — quoted in 24 hours.