Here's a hint: They won't be getting cheaper!
Changes are on the way for first time home buyer loans and if you're thinking 2013 is the year for you to become a homeowner, sooner is better than later.
Shopping for FHA Loans Getting Harder
FHA Stabilization and Reform Amendment
If you're a first time home buyer this is information you need when making the decision to buy your first home in 2013.
By law, the Federal Housing Administration is required to maintain a 2% reserve ratio. This means that for every $100 of loans insured by the group, the agency is required to keep $2 "on hand" for claims.
FHA has a couple of ways to fight back. It can choose to raise its mortgage insurance premiums schedule (which it has done) ; and it can tighten its loan standards so that only higher-quality home loans get FHA-approved (which it is considering).
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