Is A FHA Loan Really Worth it?

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As someone who has very little money to start with, there are a number of ways I can finance my first property and a FHA loan seemed pretty appealing due to the low down payment.

After completing further research the monthly payments seems to be pretty ridiculous with the monthly loan payment,  Interest rates, taxes and premiums. 

Can anyone tell me about their experience with an FHA loan. Is the low down payment worth it or would you have used a different method to finance your property?