Cohousing-L Mailing List: FHA approval: yes or no?

[Deborah Carey (boiester]

Hi,
Our cohousing is considering getting FHA approval.  My understanding is that 
FHA homebuyer loans allow for a lower downpayment, and other credit aspects 
that encourage lower income folks to purchase a place.  I see also that the HUD 
has a website for finding them.  https://entp.hud.gov/idapp/html/condlook.cfm.  

To decide we are creating a cost and benefit analysis.  Can you briefly tell me 
what the advantages and the disadvantages have been for your cohousing if you 
decided to get FHA approval?  If you decided not to get it, can you tell me if 
your reasoning was sound, or if you feel now that you should have done so?  
Could you also tell me if the community in which you built had requirements for 
low income units?

Thank you,

Deborah Carey
boiester [at] gmail.com