Monroe County's 2026 FHA limit of $990,150 sits $448,863 above Florida's standard floor of $541,287, giving Key West buyers significantly more purchasing power than most Florida markets. At Key West's median price of $895,000, FHA requires just $31,300 down — saving $147,700 versus a 20% conventional down payment. Monthly MIP runs approximately $400 at that loan size, with a one-time upfront MIP of $15,100 typically rolled into the loan.
Most Key West purchases fall comfortably within the $990,150 FHA ceiling. FHA is a strong fit for first-time buyers, repeat buyers with limited down payment, and borrowers with credit scores down to 580.
Florida's Hometown Heroes program offers up to $35,000 in down payment and closing cost assistance for eligible buyers including healthcare workers, teachers, and first responders.
We close FHA loans in Monroe County — typically in 21–28 days. Tell us your purchase price and we'll send you a full breakdown within hours.
Tell us a little about you and we'll reach out personally — usually within one business day.
Or call (970) 708-9624