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Compare over 20 top providers in Arlington, TX
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Our team tailors policies to your unique needs, meaning optimal coverage at competitive rates.
"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
Introducing PolicyHub Price Match Guarantee
Our priority is to save you money while getting you the right coverage. If you find a lower rate for a similar policy anywhere else, we'll match it! With PolicyHub, you can rest assured knowing you're getting the best price.
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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...
Mortgage insurance is designed to protect lenders in the event of a borrower's failure to make payments on a mortgage loan in Arlington, TX. It works by requiring borrowers to pay an up-front premium to the insurance company that compensates the lender should the borrower become unable to pay their mortgage loan. The mortgage insurance premiums are typically paid in a lump-sum payment at the start of the loan, or in monthly installments that are added to the borrower's loan payments.
What is the minimum down payment to avoid a Arlington mortgage insurance policy?
In Arlington, Texas, the minimum down payment to avoid mortgage insurance is typically around 20%. Some lenders may also impose a second requirement β a minimum amount of cash due at closing as documentation of the down payment. This varies by lender, but is often equivalent to 1% to 3% of the purchase price of the home. Clients should work with a mortgage professional to determine their unique down payment requirement and to explore all available financing options in order to minimize their overall mortgage burden.
Do I need a private mortgage insurance policy Arlington?
In Arlington, Texas, the need for private mortgage insurance depends on a few factors, such as the amount of you borrow, the type of loan you choose, and the size of your down payment. Generally, if you are putting less than 20% of the purchase price as a down payment, you will be required to have private mortgage insurance. You can discuss this with your lender to determine whether or not it's the right financial decision for you. The rates for PMI can vary so it's important to be sure that you are getting the best deal.
What are the drawbacks of FHA mortgage insurance near Arlington?
In Arlington, TX, one of the primary drawbacks of getting an FHA Mortgage Insurance is that it will require you to pay upfront Mortgage Insurance Premiums (MIP). This can be a costly expense that needs to be budgeted into your monthly mortgage payment. Additionally, there are annual Mortgage Insurance Premiums (MIP) that can add up over time. Furthermore, FHA Mortgage Insurance does not cover all possible numbers of down payment defaults which can affect the homeowner in the long term.
What are the drawbacks of USDA insurance from Arlington mortgage insurance companies?
One of the potential drawbacks of using USDA mortgage insurance in Arlington, TX is the eligibility requirements. Whether looking at geographic area qualification or household income limitation, there are certain criteria that must be met in order to qualify for this type of loan insured by the United States Department of Agriculture. Additionally, in Arlington, TX the down payment needed for USDA mortgage insurance tends to be somewhat higher than with other financing options. Furthermore, the closing costs associated with obtaining the loan tend to be more expensive.
Homebuyers living in the Arlington, TX area, who have served in the United States military or who are currently serving, are eligible for a VA loan. VA loans are designed to assist eligible veterans and service members with the financing of a primary residence. These special loans offer advantages such as increased access to funds, no outside insurance, zero down payment and more. VA loans are backed by the U.S. Department of Veterans Affairs, meaning they can provide veterans with a number of important benefits.
What can I do to lower the cost of my mortgage insurance in Arlington?
In Arlington, Texas, there are several options available to help lower the cost of your mortgage insurance. One way to save is to explore quotes with different lenders to find the lender with the best rates. You can also choose a higher deductible amount on your mortgage insurance policy. Consider taking steps to reduce the amount of debt you have before your mortgage loan application, as lenders factor in the amount of debt you currently carry when theyβre calculating the cost of your mortgage insurance.
When does a Arlington mortgage insurance policy go away?
Mortgages in Arlington, TX generally require between 0.50% and 1.15% of the loan amount in mortgage insurance. Depending on the program being used, the mortgage insurance goes away when the loan reaches 78% loan to value (LTV), which means the property value needs to increase to a level that is 22% more than the outstanding loan amount before mortgage insurance is removed.
Can my Arlington mortgage insurance company help me calculate my mortgage insurance cost?
Yes, your lender in Arlington, TX can help you calculate your mortgage insurance. Many lenders have trained professionals who have the knowledge and expertise in understanding all aspects of the mortgage process. They can provide a customized estimate, based on your specific situation, including factors like location, loan purpose, loan amount, and credit history. With this estimate, you can get a better understanding of your mortgage insurance costs and budget accordingly. Your lender will be able to guide you along the entire process and ensure that you are making the most informed decision when it comes to your mortgage insurance.
Do I need mortgage insurance companies in Arlington?
Whether or not you need mortgage insurance in Arlington, Texas depends on the results of your mortgage application. Generally, you may be required to purchase mortgage insurance if you're taking out a conventional loan with a down payment of less than 20%. Conversely, FHA and VA loans come with standard mortgage insurance regardless of the down payment size. It's important to speak with your lender to determine if this is a requirement for your loan. Note, if it's a requirement, you may be able to cancel mortgage insurance costs after you have built up 20% equity in your home.
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