Are you wondering how to finance a new home .. especially new construction? I want to be sure that the information about the 203K Streamline product, offered now by First Eastern Mortgage, is properly explained. The FHA 203k Streamline has been working well in helping buyers get into homes that need a bit of updating. The 203K uses regular FHA qualifying but allows the buyer to put down 3.5% of total acquisition (sales price plus repairs). There are no structural repairs allowed but the following link will provide you with a detailed breakdown of the repairs allowed.
Follow this link for more detailed information on the FHA 203K Streamline Loan Program for new construction loans: FHA203kStream