Key Largo mortgage broker, second homes, waterfront SFR, and STR investors.

Key Largo is in Monroe County, which has the highest conforming loan limit in Florida: $990,150 for 2026. FHA matches at the same figure. VA has no loan limit for veterans with full entitlement. This means many Keys transactions that look large by mainland standards can still use conventional financing, an advantage not available in most of Florida.

Yes. Key Largo is unincorporated Monroe County, STR is permitted with the appropriate county transient rental license. This is less restrictive than Key West, which caps STR permits. Before structuring any DSCR deal on projected STR income, always verify: (1) the property has or can obtain a county transient rental license, and (2) HOA or condo bylaws don't restrict STR. DSCR loans qualify using AirDNA projected income or a 12-month operating P&L from an existing rental.

Many older Key Largo condo associations are not on the FHA approval list, typically due to investor-occupancy ratios exceeding FHA limits, post-Surfside reserve deficiencies, or association structural issues. FHA Single-Unit Approval is possible in some buildings. Conventional warrantability also varies: some associations pass Fannie/Freddie warrantability review, others don't. Always check warrantability before going under contract, it determines whether you're looking at agency financing or portfolio jumbo, which is a meaningful rate and down payment difference.

Key Largo is approximately 1 hour from Miami and under 90 minutes from Fort Lauderdale, the closest Florida Keys community to the South Florida population center. This proximity makes it the most accessible Keys getaway: weekend trips are practical without flying. Canal-front properties start around $450K. Oceanfront SFR runs $1.5M to $5M+. Second-home loans require as little as 10% down on conforming amounts up to $990,150, jumbo second-home starts at 15% down above that limit.