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Compare over 20 top providers in The Crossings, FL
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"I was totally lost trying to find the right mortgage insurance until I found PolicyHub. I was able to work with a licensed agent to compare all my options all at one. I got the perfect plan for me at a cheaper rate than I expected."
Barbara Winters
Policy Holder
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"I lost hope trying to find a mortgage insurance policy that wasn't insanely expensive. Thankfully PolicyHub helped me find the perfect policy that is affordable with high coverage. Thank you!"
Bill Barton
Policy Holder
PolicyHub is the smartest way to protect the people that matter most.
Safeguard Your Family
Mortgage insurance means safeguarding your family in a worst-case scenario. Don't risk it.
Gain Peace of Mind
Far too many Americans are financially blindsided by the death of a loved one. But not your family.
Protect Your Business
Protect your business by ensuring a smooth transition of ownership with the right mortgage insurance.
Beat Estate Taxes
Inheritance or estate taxes is burdensome for your heirs. A mortgage insurance policy can help.
Invest in Your Future
For less than $1 per day, you can make a huge contribution to your family's financial safety.
Build Your Legacy
Through a mortgage insurance policy, you can leave behind a legacy for your loved ones.
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All your mortgage insurance needs in one place.
Private Mortgage Insurance (PMI)
PMI is your solution for buying a home with less than 20% down. It protects your lender, but also enables you to own a home sooner with less upfront cash. It's added seamlessly to your monthly mortgage payments.
FHA Mortgage Insurance Premium (MIP)
FHA's MIP is ideal for those with less-than-perfect credit scores. With an upfront premium and a smaller annual premium, MIP makes homeownership more attainable for a broad range of buyers.
USDA Mortgage Insurance
USDA Mortgage Insurance is tailored for rural homebuyers. With a manageable upfront guarantee fee and a low annual fee, it's a cost-effective way to secure your countryside dream home.
VA Funding Fee
The VA Funding Fee, unique to VA home loans, is a one-time fee that helps sustain the VA loan program for future generations of military homeowners. Depending on your service history, you may even be exempt.
"Highly HIGHLY recommend PolicyHub if you need mortage insurance. They saved me sooo much time and money on my policy, it's nuts. Comparing all the providers at once is a game changer."
Chris Stephens
Policy Holder
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"I knew I needed mortgage insurance but I didn't know where to go. I talked with a few other companies but the cost was outrageous. I found PolicyHub and found the perfect plan for me at an affordable cost."
Wendy Smith
Policy Holder
Frequent Questions...
There are three primary types of mortgage insurance available in The Crossings, FL. Private mortgage insurance (PMI) is typically required for home loans with a down payment of less than 20%. This type of insurance protects lenders in the event of a borrower default. The Federal Housing Administration (FHA) allows for mortgages with a down payment of as low as 3.5% and requires an upfront premium. The U.S. Department of Veterans Affairs (VA) provides an additional option for qualified veterans and surviving spouses, which allows for no down payment and no premiums.
How can I reduce my The Crossings mortgage insurance policy cost with a larger down payment?
By making a larger down payment on your mortgage in The Crossings, FL, you can reduce your mortgage insurance cost. By making a larger down payment, you can put you in a better financial position and also lower the amount of money you'll have to borrow. This can help you reduce the amount of interest paid over the life of the loan, as well as reduce the amount of mortgage insurance you have to pay. In addition, with a larger down payment, you may be able to qualify for different loan products that have lower mortgage insurance costs than other loan products.
Who is eligible for a private mortgage insurance policy The Crossings?
Residents of The Crossings, FL looking to purchase a home may be eligible for private mortgage insurance (PMI) if they are making a borrower contribution of less than 20% of the purchase price. The amount a borrower puts down on a home as a down payment will determine their eligibility for PMI. PMI is intended to protect the lender in the event the borrower is unable to make payments on the mortgage, and can be required for those with less than 20% down payments.
Who is eligible for FHA mortgage insurance near The Crossings?
In The Crossings, FL, any person who is a US citizen, permanent resident alien, or a nonpermanent resident alien with FHA-approved visa status may be eligible for FHA mortgage insurance. The applicant must also have the capacity to repay the FHA loan and must have a valid Social Security number and valid income source. The applicant must also be of legal age and must have a valid signature. Additionally, borrowers must show a proven two-year job history and must not have any delinquent federal debts in order to qualify.
Who is eligible for USDA insurance from The Crossings mortgage insurance companies?
Residents of The Crossings, FL may be eligible for USDA mortgage insurance if they meet certain income requirements. The program is designed to help low to moderate-income households buy homes in designated rural areas. Eligibility is based on household size, where the home is located, and the borrower's adjusted annual income -which must fall at or below the respective area's median income, or 115% of the area's median income, whichever figure is greater. USDA mortgage insurance provides for 100% financing, with no down payment.
Residents of The Crossings, FL who are eligible for a VA loan include Veterans, Active-Duty Servicemembers, and their respective spouses. These individuals may use the loan to purchase, refinance, or improve their primary residence. Additionally, VA loans are available to National Guard and Reservists who have served at least six years, and to spouses of service members who passed away while still in service. To qualify, applicants must have a good credit history, adequate income, and certification of military service status.
What factors influence the cost of mortgage insurance in The Crossings?
The cost of mortgage insurance is influenced by several factors, including the mortgage amount, the loan-to-value ratio, the loan term and the borrower's credit score. At The Crossings, FL, local housing markets also play a role in determining the cost of mortgage insurance, because house prices and interests rates can vary from one area to another. Additionally, the amount of coverage is considered when calculating mortgage insurance costs the larger the coverage, the higher the costs. The type of mortgage one chooses to pursue and the amount of down payment also have an effect on the cost of mortgage insurance.
What process do I need to follow to cancel my The Crossings mortgage insurance policy?
To cancel your mortgage insurance in The Crossings, FL, you must first contact your lender to obtain a Request for Mortgage Insurance Cancellation or termination form. Follow the directions on the form, and provide the appropriate documentation to prove that you have enough equity in your property in order to establish that the loan balance is equal to or less than 80% of the property value. Once your lender receives the form and documentation, they will examine your loan documents and appraised value.
Is there an online calculator for mortgage insurance from a The Crossings mortgage insurance company?
Yes! If you're looking for an online calculator to help you calculate your mortgage insurance needs in The Crossings, FL, you're in luck. Our free online mortgage insurance calculator is designed to quickly provide you with an estimate of your monthly rate for mortgage insurance. Our calculator factors in your credit score, loan term, loan amount and other variables to determine the appropriate coverage for you. Just enter your information and our calculator will do the rest!
Who is required to use mortgage insurance companies in The Crossings?
In The Crossings, Florida, mortgage insurance is required for borrowers who take out loans totaling more than 80% of the property’s value. Specifically, individuals who are not able to put down a 20% down payment must obtain mortgage insurance to get a loan from a bank. Mortgage insurance is essentially a type of protection for a lender in the event of a borrower defaulting on the loan. Additionally, those who have a poor credit score may be required to get mortgage insurance as well. Generally, mortgage insurance benefits the lender more than the borrower, but is sometimes necessary to secure the loan.
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