How Much Does an FHA Loan Cost?

FHA loans have costs like down payment, closing costs, and mortgage insurance. They are for borrowers with poor credit. FHA loans have lower credit score requirements than conventional loans. Costs include upfront and annual mortgage insurance premiums. FHA loans are not the best for those who qualify for conventional loans due to added costs. Alternatives to FHA loans are conventional loans, USDA loans, and VA loans, each with specific costs and requirements.