Permit caps. Non-warrantable historic condos. $5M oceanfront jumbos. Foreign national buyers from Europe, LATAM, Canada. Key West is its own lending universe — and it's the universe I close in.
Key West caps the number of legal short-term rentals. Permit must transfer with the property. We verify before contract — every time. Without the permit, the STR income disappears.
Key West is full of 30-50+ year old conversions and historic buildings. Condo questionnaire failures common. Portfolio jumbo products bypass agency warrantability.
Old Town, Sunset Key, and waterfront $2M-$10M+ properties. Lender-appraiser comfort with Key West comp scarcity matters. I have the lender list.
Key West is a top destination for international second-home buyers. ITIN, foreign national, and offshore-LLC closings are weekly routine here.
Citizens + private + surplus lines blend depending on the structure. Pre-1995 wood-frame? Surplus lines almost always. Newer concrete? Multiple options. Always pre-quote.
Survey requirements, easement issues, drainage at low elevation, hurricane code (post-Wilma) updates. Local edge cases — I know them.
$1M-$2.5M wood-frame conversion. Insurance via surplus lines. Jumbo product comfortable with appraisal volatility. 30-45 day close.
Verify permit transfer FIRST. DSCR with AirDNA-projected income. Strong DSCR ratios (1.5-2.0+) common. 25% down typical, LLC closing.
$3M-$10M+ waterfront. Portfolio jumbo (sometimes Asset Depletion or P&L for self-employed). High reserves required (12+ months).
European, Brazilian, Canadian buyer. 30% down, foreign-passport-based loan. Adds ~1.0-1.5% to rate but closes when nothing else does.
Key West owners with significant appreciation. Cash-out refi at 70% LTV. Use proceeds for next investment, debt consolidation, or HELOC alternative.
30-min strategy call. Property address, scenario, timeline. I'll tell you exactly how the deal closes — and what to verify before you write the offer.
Book a Strategy Call