Big News In Home Loan Financing For First Time Buyers or People Starting Over. FHA is decreasing the factor used to determine monthly MI by 50 basis points, effective January 26th. As long as Buyers have a FHA case number on or after January 26th the Buyer’s will be able to take advantage of the low MI. This is huge for first time home buyers! It means more buying power, a significant decrease in their monthly payment, and could mean that FHA is their new best option over conventional financing. Not to mention, with interest rates being about 1/4 lower than they were a month ago, buyers have access to a whole new set of inventory in 2015. I want to get you some examples of what these new numbers mean for you as a Home Buyer or Home owner!