Naples is Florida's most coastal-complex luxury market. Hurricane Ian reset the insurance landscape. Post-Surfside SIRS broke condo warrantability for half the inventory. Foreign national buyers need ITIN paths. Most lenders flounder here. I don't.
$2M-$10M+ Old Naples, Port Royal, Pelican Bay. Portfolio jumbo with reserves required. Self-employed paths via Asset Depletion or P&L when tax returns under-state.
Post-SIRS reserves, special assessments, owner-occupancy ratio failures. Portfolio jumbo product, 25-30% down, rate +0.25-0.5% over agency.
European, LATAM, Canadian buyers. Foreign passport + visa + 30% down. ITIN for non-citizens with U.S. tax ID. Add 1.0-1.5% to rate but unlock the deal.
2022 reset the market. Post-Ian inspection sometimes required. Pre-quote ALWAYS — Citizens, Heritage, Slide, surplus lines mix.
NE/Midwest residents buying second-home in Naples. 10-25% down second-home loan. Conventional + jumbo paths.
Same Collier County limits and challenges. STR restrictions tighter than Naples mainland. Insurance similar Hurricane Ian impact.