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Compare over 20 top providers in Artesia, CA
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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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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...
Mortgage insurance in Artesia, CA is an insurance product offered by lenders to protect themselves in the event of a borrower’s default. Mortgage insurance provides coverage to the lender for losses due to non-payment or foreclosure. Depending on the loan product, lenders will generally require either a lump sum payment at closing or monthly premiums on the loan. In some cases the borrower may be responsible for both. It is important for a potential borrower to check with their lender to understand exactly how mortgage insurance is applied to their loan product and to consider the associated costs.
Can I avoid a Artesia mortgage insurance policy with a larger down payment?
In Artesia, CA, there are certain thresholds for down payments that can exclude potential borrowers from the requirement of mortgage insurance. Generally, an increase in a down payment will reduce the amount of mortgage insurance that the borrower will have to pay and may even drop it entirely. By making a down payment of 20% or more, borrowers in Artesia can avoid the costs of mortgage insurance.
Do I need a private mortgage insurance policy Artesia?
Homebuyers in Artesia, CA may be required to purchase private mortgage insurance (PMI) if they don't have a high enough down payment. Generally, lenders will require PMI when a borrower puts down less than 20% of the purchase price of the home. PMI helps cover a lender's costs if you default on your loan and helps borrowers qualify for mortgages with down payments below 20%. PMI also brings eligibility for larger loans since it helps offset some risk for the lender.
Who is eligible for FHA mortgage insurance near Artesia?
In Artesia, CA, FHA mortgage insurance eligibility depends on several factors, such as personal income, credit history, down payment amount, and other criteria. Generally, borrowers who have a steady income, good credit scores, and can make a down payment of at least 3.5% of the loan amount are most likely to qualify for an FHA loan. Additionally, certain types of borrowers, such as veterans, are generally eligible for FHA loan advantages. Potential borrowers should consult a financial expert to evaluate their budget and explore options that may be best for them.
What are the drawbacks of USDA insurance from Artesia mortgage insurance companies?
The main drawback of USDA mortgage insurance in Artesia, CA is that you must meet certain income eligibility requirements to qualify. The income guidelines are county-specific and vary based on household size. Additionally, you must meet the USDA’s credit guidelines, which may require you to have a higher credit score than for other loan programs. Additionally, you must live in the home you purchase that is located in a USDA-eligible area, and you may pay an upfront annual USDA guarantee fee and an annual fee for the life of the loan.
The VA Funding Fee in Artesia, CA is an upfront cost required by eligible VA Home Loans borrowers as mandated by the Department of Veterans Affairs. The fee, which ranges from 0% to 3.3%, is included in the loan amount and is paid at closing. The VA Funding Fee can be reduced or waived for Veterans with service-related disabilities or those receiving VA compensation. This fee is necessary to help cover the costs of administering the VA Home Loan Program and helps ensure the program continues to provide access to homeownership for Veterans and their families.
What can I do to lower the cost of my mortgage insurance in Artesia?
To lower the cost of your mortgage insurance in Artesia, CA, you should look into lender-paid mortgage insurance, a Federal Housing Administration Mortgage, or a Veterans Affairs Mortgage. Lender-paid mortgage insurance may save you up to 30% on your premium by the lender paying a portion of the costs. Since FHA Mortgages only require a 3.5% deposit, you may be able to enter the market with a more suitable deposit amount for your circumstances. Additionally, Veterans Affairs Mortgages do not require mortgage insurance at all.
Does the mortgage insurance termination process vary by Artesia mortgage insurance policy?
Yes, the mortgage insurance termination process does vary by lender in Artesia, CA. Depending on the specific lender, the process can differ in terms of timeline, requirements, and more. It is important to understand how the process unfolds for your particular lender prior to beginning the insurance termination process. It is also a good idea to review the finer details, including if you will be eligible for a refund of unearned premiums.
Can my Artesia mortgage insurance company help me calculate my mortgage insurance cost?
Yes, your lender in Artesia, CA can help you calculate your mortgage insurance. They are experienced professionals who work with mortgage insurance products on a daily basis and have a full knowledge of how much insurance coverage you need. They are adept at calculating your insurance premium that gets added to your monthly payments and can help you find a competitive rate for the insurance coverage that you need. Moreover, they understand the complete mortgage process and are especially qualified to determine if you should purchase mortgage insurance or not. All in all, they serve as an excellent resource to help you get the best deal on your mortgage.
Do I need mortgage insurance companies in Artesia?
Whether you need mortgage insurance depends on several factors, including the type of loan you're seeking and the area in which you're buying a property. If you live in Artesia, CA, the median home price has been steadily climbing for the better part of the past decade, so mortgage insurance may be required depending on the type of loan you're getting. Generally, loans with a loan-to-value ratio (LTV) of 80% or higher require a type of mortgage insurance called private mortgage insurance (PMI).
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