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5 Homes Under $529K Stock Island & Lower Keys

A couple of days ago I posted a blog post that featured 5 homes that were under $529K (the Monroe County FHA limit) and for sale in Key West, Florida.

FHA is offering their 203(h) program to buyers that lost their home or space they rented due to Hurricane Irma.  Borrowers utilizing the 203(h) program are eligible for 100 percent financing and closing costs (up to 6%) can be paid by the seller.

Below is a link to 5 homes in Stock Island and Big Coppitt  that are for sale for $529K or less.

Let’s take a closer look at one of my personal favorites in this list:  50 Riviera Drive, Big Coppitt.  This home is listed by Key West Property Sisters for $450,000 and is move in ready.  It features granite counter tops, 10 ft ceilings and and en-suite master with a walk in closet.  Taxes are less than $3500 per year for ALL THREE (windstorm, flood, & hazard)

If you’re wondering how this translates to a monthly mortgage payment let me break it down for you:


0% 3.50% 5% 10% 20%
Mortgage  $2,504  $2,416  $2,405  $2,235  $1,797
Taxes  $350  $350  $350  $350  $350
Insurances  $291  $291  $291  $291  $291
Sample Total Monthly Payment  $3,145  $3,057  $3,046  $2,876  $2,438


This is “On the Rim & Out the Door” pricing so all of your taxes and insurances will be rolled right into your mortgage payment and your mortgage company will take care of making the yearly payment on your behalf.

Call, text, or email me (305-394-4073 or for additional information about these home as well as additional options that are available.  I am a full time buyers agent with Preferred Properties and ready to assist you in purchasing your Florida Keys home!


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