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Compare over 20 top providers in Auburn, CA
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Over 20 policy provider comparison.
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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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Tell us about yourself.
Finding the perfect mortgage insurance policy starts with answering a few questions to help us serve you better.
Step 2
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Discuss your options with a licensed insurance agent. Compare different plans to find the best policy with the cheapest rates.
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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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With PolicyHub getting started is easy. Compare all the rates from all the providers. Get started in under 5 minutes.
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...
Choosing the right mortgage insurance policy is an important financial decision to make for anyone. In Auburn, there are many resources available to help you make the most informed decision. Start by talking to your local bank or credit union to learn more about what kind of mortgages are available and the associated insurance policies, then consult with an experienced financial advisor to get more specifics. Remember to ask questions about the monthly and long-term costs, what happens if you miss a payment, and any other details that might affect your financial situation.
Can I avoid a Auburn mortgage insurance policy with a larger down payment?
Absolutely! Putting down a larger down payment on a mortgage loan in Auburn, CA can help you avoid having to pay for mortgage insurance, or PMI. PMI protects the lender should you fall behind on your payments, however it can be avoided with an increased down payment. Increasing your down payment to 20 percent or more of the home's value can help you avoid PMI and also lower your monthly mortgage payment, so there are double the benefits! Additionally, if you're a veteran, many VA loans in Auburn, CA require no down payment at all, making mortgage insurance unnecessary.
What are the drawbacks of a private mortgage insurance policy Auburn?
Private mortgage insurance in Auburn, CA can be costly payments can range from an additional 0.5% to 1% of the total cost of the loan. As interest rates can change frequently, there may not be a specific timeframe for the costs to vacate, as the insurance may be required until the total loan balance has been reduced to 80% of the original value. Furthermore, with the insurance, the initial amount of the loan might be reduced, due to higher closing costs.
What is FHA mortgage insurance near Auburn?
FHA mortgage insurance is a type of insurance offered by the Federal Housing Administration (FHA) which helps reduce a borrower's risk in Auburn, CA. This insurance protects lenders from losses if borrowers fail to repay their mortgage loans. It is an insurance policy which protects lenders against losses if a borrower defaults on their loan. The FHA mortgage insurance requires the payment of an upfront premium, as well as ongoing premiums throughout the life of the loan.
What are the benefits of USDA insurance from Auburn mortgage insurance companies?
Living in Auburn, CA provides many benefits to those wanting to own their own home. One of them is the ability to access a USDA mortgage insurance program. This program offers low-interest rates, no down payment, minimal closing costs, and access to low-cost loans. USDA mortgage insurance is designed to help lower-income families become homeowners this can be especially helpful in the Auburn area, where home prices are relatively high. By eliminating the need for a large down payment, this program helps to reduce the burden on those looking to purchase a home.
In Auburn, California, veterans and their spouses are eligible to apply for a VA loan. To qualify, one must have an honorable discharge from the military and be a California resident. In order to receive a VA loan, veterans must choose a lender that will originate and process VA loans and meet VA eligibility requirements. Normally a history of steady income, good credit, and no bankruptcy is required in order to qualify. A Certificate of Eligibility (COE) may be necessary to verify that a veteran has met the requirements. Furthermore, there is usually a funding fee associated with a VA loan.
Can I negotiate the cost of my mortgage insurance in Auburn?
Yes, negotiating the cost of your mortgage insurance is typically an option in Auburn, CA. Your lender will work with you to determine the specific policy terms that will be best for your needs. Additionally, you are able to shop around and compare pricing different mortgage insurance policies to assist with finding the best option and cost to fit your needs. To better understand your negotiating options, you can reach out to a local Auburn, CA real estate professional to assist you.
What are the requirements to cancel my Auburn mortgage insurance policy?
In Auburn, CA, the requirements for cancelling mortgage insurance vary depending on the type of loan. If you have an FHA loan, you must have had your loan for at least 5 years and have had on-time payments; you must also have 22% equity in your home according to the original appraised value. For a VA loan, you must have had the loan for 5 years and have at least 20% equity if the loan was issued prior to March of 2012.
Is there an online calculator for mortgage insurance from a Auburn mortgage insurance company?
Yes, there is an online calculator for mortgage insurance. Auburn, CA residents can find a reliable mortgage insurance calculator on the Placer County Mortgage website. Placer County Mortgage offers a comprehensive mortgage calculator to help residents determine the estimated premium for mortgage insurance, calculate monthly mortgage payments, and determine the total closing cost. The calculator takes into account factors such as loan amount, loan term, credit score, and insurance type to give residents an accurate estimate of the mortgage insurance cost. Placer County Mortgage also provides free online mortgage counseling so residents can understand the mortgage insurance process and make an informed decision.
What happens if I don't use mortgage insurance companies in Auburn?
Not having mortgage insurance in Auburn, CA can result in risks, as without insurance, the buyer would not have coverage should something happen to their home. They would be responsible for covering the cost of the repairs or replacement, and would be forced to pay out of pocket. This could be financially devastating for some people, as the repairs or replacements required may be beyond their financial means. To protect yourself from this risk, it is important to purchase mortgage insurance to have coverage and security in the event of an unexpected incident.
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