Is This FHA Mortgage Loan a Good Deal?

My wife and I are first time home buyers, and we want to tap into this buyer's market. We spoke with a Wachovia representative a couple days ago, and we are considering the following FHA loan: For a $200,000 house- 1. 15% down payment, FHA Loan, 30 year fixed mortgage 2. 5.10% mortgage interest rate (per... show more My wife and I are first time home buyers, and we want to tap into this buyer's market. We spoke with a Wachovia representative a couple days ago, and we are considering the following FHA loan:

For a $200,000 house-
1. 15% down payment, FHA Loan, 30 year fixed mortgage
2. 5.10% mortgage interest rate (per month)

To avoid a horror story with this home purchase, what kind of questions should we ask, and what kinds of things should we look out for?
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