In order to forstay a taxpayer bailout, The Federal Housing Administration is tightening underwriting, raising premiums, and a few other adjustments. Will they have an effect on your payment? Yes, the average increase will be about 13 bucks.
Should you let this keep you from buying a home in Hot Springs or anywhere else for that matter? I guess that's going to be for you to decide. Let's put this into perspective: If you can not eat out cheaply at a fast food restaurant once a month... then that pretty much will pay for the rise (Eat at home that night... you will absorb the cost and if you eat light, it will be healthier, so it is a win/win for you)
I invite you to look for the FHA official website and find this article. In a nutshell, it is going to have an effect on reverse mortgages (which I'm not sold on anyway), The FHA mortgage insurance premium and the duration of those payments, tightening underwriting a bit (also concerning those that have had a previous foreclosure), changing some of the automatic entry tools to manual ones, and quite a few other things. Look it up for yourself because when you look for a person's personal "spin" on the headlines, well.... just look it up AT THE SOURCE... so go HERE: