Endings

Good Ending

Requirement: Complete the game for the first time.
Tip: The good ending is the default one for the first completion, so just beat the game.
Description: Travis walks out of Silent Hill to his truck left on the road. He gets into the vehicle and sees Alessa's reflection in a rear-view mirror. She's holding a new-born baby in her hands. Travis resets the truck's odometer, then starts the engine and leaves. Alessa with a baby in her arms stands on a road watching him leave. After this the dialogue between Harry and his wife as they find the baby is played. Then we hear Dahlia and Kaufmann as they speak of their further plans.

Bad Ending

Requirement: Beat the game at least once and defeat 100 enemies.
Tip: To get the Bad ending you must kill a lot of enemies during your subsequent walkthroughs. Tesla Rifle with an unlimited charge would make getting this ending much easier, so it's a good idea to get the UFO ending first.
Description: Travis finds himself strapped to a bed by his arms and legs in some sort of a sanitarium. He tries to get free, but doesn't succeed. There are some medicines lying on a cabinet nearby. Travis recalls somebody injecting him these medicines and then some peoples' phrases in his head. Woman: "What are you talking about? I'm not your mamma. Please--No!" Man: "Scuse me sir. Motel's closed for the season. Wait--! (screams)". Travis' father: "What are you doing, son? Careful, daddy's--!" An image of the Butcher appears in the room. Then Travis is shown getting down on his knees and looking at his bloody hands. The image of the Butcher overlaps his face. The video returns to the room with a Travis struggling on the bed and then fades out.

UFO Ending

Requirement: Beat the game at least once, get the Room 502 key at the top of the staircase near the Post Office and unlock Room 502 in the Riverside Motel with it.
Description: Travis inserts the Room 502 Key into the keyhole - it doesn't' fit. Travis looks at the Moon in the sky and watches as the UFO descends. The UFO hovers over him and an alien with a dog (resembling the dog from the SH2 Dog ending) come down to Travis via a light beam. They greet Travis. Travis asks them about his truck and the alien answers they have Travis' truck on their planet. Travis becomes suddenly excited. The alien offers Travis to come with them and Travis agrees. The three of them rise to the UFO and then the UFO flies away.