VE-zone waterfront. STR investor properties. Non-warrantable condos. Citizens depopulation in your closing. Marathon has every coastal lending edge case Florida throws at brokers — and I close them all the time.
Most brokers see Marathon and panic. Coastal flood zones, Citizens insurance shifts, condo questionnaires post-Surfside, STR permitting — every variable that kills a deal lives here. Here's how I structure them.
Marathon's a flood-zone patchwork. Pulling the elevation certificate before contract often unlocks 50%+ insurance savings. I use this to keep DTIs in range.
Marathon allows short-term rentals with permitting. DSCR ratios on STR-permitted waterfront commonly hit 1.4-1.7 — strong enough to unlock 75% LTV pricing.
Marathon sits in Monroe County's high-balance limit zone. FHA / Conventional / VA all top out at $1,209,750 in 2026 — nearly $700K higher than most FL counties.
Citizens, Heritage, Slide, and surplus lines all write in Marathon — but the right carrier depends on the address. I pull insurance quotes within 24 hours, before you write the offer.
Many Marathon condos failed warrantability post-Surfside (SIRS, reserves, owner-occupancy ratios). Portfolio jumbo products handle it — I have the lender list.
Marathon is a heavy second-home and investor market. Foreign passport, ITIN, and DSCR-LLC closings are routine here. Standard W-2 underwriting often isn't the right fit.
Conforming or jumbo (depending on price). Marathon's $1.2M conforming limit means many "luxury" deals stay agency. I optimize the file for best pricing — usually FICO 740+ and 20%+ down.
Property scores Coastal Risk 35-50 (Elevated/High Risk). Flood + wind insurance is the gating variable. Match to lender that doesn't penalize VE on appraisal. Use STR projections via AirDNA. Close in 25-35 days.
Unit fails Fannie warrantability (litigation, owner-occupancy ratio, master flood). Portfolio jumbo product, 25% down, rate +0.25-0.5% over agency. Closes when other brokers said no.
European or LATAM buyer, 30% down, passport + visa documentation. Foreign national loan, 30-45 day close. Marathon and Islamorada are common destinations for this profile.
Existing Marathon owner with equity, wants cash-out for next investment. DSCR cash-out at 70-75% LTV preserves the capital recycling cycle. Common BRRRR exit pattern.
30-min strategy call. We'll talk through the property, the structure, the insurance angle, and a clear close path. No surprises at the appraisal.
Book a Strategy Call