Considering buying Miami Beach homes or any other home for that matter?  The government tax credit may be over but you still might want to think about making up your mind and deciding what you’d like to do, especially if you plan to seek FHA financing.  Pretty soon you might find yourself having to shell out more each month if you don’t.

New buyers purchasing Miami Beach homes or those who are seeking an FHA loan for any kind of home face the possibility of potentially having to pay higher monthly fees.  The FHA was recently given approval to hike up its fees in order to stabilize its finances after weathering the effects of foreclosures.  To illustrate, a buyer with a $170,000 mortgage would have to pay a little more than $40 additional dollars each month with the new FHA premium hikes.  While this would generate over $1 billion for the FHA, it would obviously cause more financial strain on the homeowner.

The only real solution to this situation is to buy whatever Miami Beach homes you’re going to buy soon before this new premium hike goes into effect.  How do you feel about these new changes?  Are they a necessary measure to keep the FHA afloat or another way of making things tougher for homeowners on a strict budget?