FHA loans are going to be more expensive. Starting in April a lot of first time home buyers will be hit with changes to FHA loans that will cost tens of thousands of dollars. A recent HUD Motgagee letter (2013-04) outlines changes to both an increase in monthly payments amount and the elimination of the ability to cancel monthly mortgage insurance premium (MIP) payments. The results translate into over $20,000 of additional payment amounts over the course of one $300,000 FHA loan or over $10,000 over the life of a $150,000 FHA loan.
Tables of the FHA MIP changes:
Effective for case numbers assigned on or after April 1, 2013. 
Effective annual MIP rates for loans or after June 3, 2013
