It has been a long time since I was able to make this statement; if you are currently renting you can buy a new home and not have your monthly mortgage exceed what you are paying in monthly rent. Two factors are contributing to creating a very affordable housing market for first time home buyers, FHA interest rates are at historic lows and the median home prices in St. Louis, St. Charles and Jefferson County continue to go lower. Every month I am doing an ever increasing number of first time home buyer mortgages, in the St. Louis area just under 65% of all homes purchased are first time home buyers utilizing FHA financing. The amazing item that I find in nearly all borrower cases is that the difference between the new house payment and what they were paying in rent is nearly the same, sometimes a bit lower. This includes a house payment for principal, interest, taxes and insurances, the whole enchilada!