The appeal is that tons of people can walk to it, and they basically have a musician or event every single night of the week. You can also bring in your own food (Except pizza since they serve that now), and HP has some pretty good restaurants to choose from.

Just as a heads up (I also have FHA loan), FHA loans have MIP not PMI. If your initial down payment is <10%, the MIP can not be removed unless refinanced to a non-FHA loan. If your initial down payment is >10%, MIP falls off after 11 years. There is no 20% rule on an FHA loan like there is on conventional. However, I still strongly recommend FHA because the MIP really isn't that high, just note it can't be removed unless you refinance.