Financing in Oldsmar>Question Details

Suze62, Renter in Oldsmar, FL

707 hisiscus circle east how much down to get mortgage?

Asked by Suze62, Oldsmar, FL Wed Jul 13, 2011

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This is a single family residence, a lenders favorite type of property, so any residential loan program should be OK with it. A quick search on the internet shows that as of about 10 months ago it was in good shape.

With FHA financing, 3.5% down. If you are a Veteran, then with VA financing 0% down. Conforming financing would require 3% down.

I didn't see an active listing at 707 Hibiscus Circle East at and that website is reasonably current with MLS listings - although I do not have access to the Tampa area MLS so the information I have isn't nearly as good as a local real estate agents. Have you confirmed with a real estate agent or been out to the property to confirm that property is currently for sale?
1 vote Thank Flag Link Wed Jul 13, 2011
As Richard said, this home is not currently listed for sale. When it was withdrawn last December it was listed at $99,877, down from $199,877 four months earlier when it was originally listed. With good credit you may qualify for as low as 3.5% or about $3500 down, plus closing costs which would bring the total to around $5000, but that is just an estimate. You would need to speak with a lender to determine your qualification to purchase. If this is the same house you are currently renting, it might be quite easy to make an offer to the owner to either purchase outright, or to purchase using a rent to own or lease purchase agreement. Let me know if I can help!

Steven J. Pahl e-PRO
Keller Williams Tampa Properties

813-319-6423 Office
813-763-7245 Cell

Referrals Welcome !
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0 votes Thank Flag Link Fri Jul 15, 2011
Hello, I do not see this listed as active. I searched the MLS,& the last entry for this one was withdrawn in December 2010. I serve buyers and sellers in Oldsmar & surrounding areas. I could search further for you to see if it is still for sale, occupied, bank owned etc, I can also send you listings of similar homes listed in the community ( and other areas as well). To answer your question, you should speak with a mortgage originator or broker. FHA is 3.5 - 4 % down, or you could go conventional loan & VA if you qualify.Please email me direct RMEINKE@PRUTROPICAL.COM or phone direct 727 644 5754. I will send you info of homes available, and I can show you any home listed at your conveninece. Thank you , Rich.
0 votes Thank Flag Link Thu Jul 14, 2011
There are low down payment programs but some require the seller to agree to make some repairs or contribute to the closing costs. I suggest you talk to a lender to get prequalified then search for homes listed as availale for FHA financing.
0 votes Thank Flag Link Wed Jul 13, 2011
In most cases FHA will allow as little as 3.5% down. USDA allows for 0 down if it is qualifying. I would be glad to pre qualify you if you need assistance.
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0 votes Thank Flag Link Wed Jul 13, 2011
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