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Four developments in Redwood Shores have now been approved for FHA Financing. Those developments are The Cove, Seacrest, Peninsula Landing and Ventana del Mar. In addition, The Preserve is also approved. Starting in 2010 all developments had to be reapproved even if they had recent FHA financing. This can be a lengthy process and take up to 6 weeks. However, once a particular sale in the complex has been approved, the complex in its entirety is approved for two years. FHA loans have been helping people become homeowners since 1934. The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so the lender can offer you a better deal.
- Low down payments as low as 3.5% of the purchase price
- Low closing costs
- Easy credit qualifying