: The most common form, paid as a monthly fee added to your mortgage payment.

: The lender pays the premium upfront, but you pay a higher interest rate over the life of the loan.

: A one-time lump sum payment made at closing to avoid monthly fees. How Much It Costs

: Specifically for FHA loans . These often require both an upfront payment at closing (typically 1.75% ) and ongoing monthly premiums.

Premiums typically range from of the original loan amount annually. Factors affecting your rate include: