The FHA helps people out who need assistance because of low income issues. The FHA is a part of the Department of Housing and Urban Development or HUD for short. When you get a FHA loan for a home, you will need insurance.
This may not be the case if you put a 20% or greater down payment on the home yourself. Insurance with the FHA is actually really cheap and is nothing to worry about. Insurance with an FHA loan is only 0.05% per year.
You will have to pay 1.5% upfront for the insurance though to get it started. In comparison to insurance from other companies, the FHA is a real bargain. If you have been thinking about getting an FHA loan for a while but have been worried about the insurance, don't be. FHA multi family insurance is cheap and affordable just like the FHA loans are. That is the FHA's goal, to help you get housing, even if you can't afford a typical loan payment.