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Compare over 20 top providers in Boston, MA
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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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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...
In Boston, Massachusetts, mortgage insurance is important to ensure that those buying a home can do so with the protection of the lender in case of a default. Mortgage insurance helps to mitigate the risk to lenders taking on riskier borrowers, such as those with lower down payments. In Boston, which is one of the nation's most expensive cities to live in, mortgage insurance protects lenders from financial loss in the event of a default and allows more people to qualify for a loan so they can live their dream of homeownership.
Does the cost of a Boston mortgage insurance policy depend on the size of my down payment?
Yes, in Boston, MA the cost of mortgage insurance will depend on the size of your down payment. The larger your down payment is, the less mortgage insurance is required, which means you may have to pay less in mortgage insurance premiums. To make sure you're paying the most cost-effective amount for your down payment, it's important to work with an experienced real estate professional in Boston who can help you navigate the various mortgage insurance options available in the area.
What are the benefits of having a private mortgage insurance policy Boston?
In Boston, MA, the benefit of private mortgage insurance is that it gives qualified homebuyers with a less than 20% down payment the opportunity to purchase a home close to their desired location. Private mortgage insurance can provide additional assurance to lenders by providing additional financial support in the event that a borrower is no longer able to make their mortgage payments, thus helping to eliminate some potential foreclosure risks for both the borrower and lender. In addition, private mortgage insurance can also provide a lower initial mortgage payment as the cost of the insurance can be spread out over the life of the loan.
What are the benefits of FHA mortgage insurance near Boston?
Taking out an FHA mortgage in Boston, MA provides a number of distinct advantages. FHA mortgage insurance offers more lenient credit requirements, allowing potential borrowers to qualify with a lower credit score and a smaller down payment. Additionally, FHA mortgage insurance offers additional support for borrowers in the form of special provisions for first-time home buyers, seniors, and those with limited funds to cover the down payment. Furthermore, FHA mortgage insurance is backed by the government and guarantees the lender that the borrower will meet the terms of the loan.
How do Boston mortgage insurance companies process USDA insurance?
USDA mortgage insurance in Boston, MA works by guaranteeing a loan for a recipient eligible for the agency's mortgage insurance program. This program helps to reduce the upfront costs of a loan and provide borrowers with options not available through traditional lenders. USDA mortgage insurance provides coverage for the full loan amount (principal and interest) if the loan defaults. For borrowers in Boston, this type of insurance allows them access to secure a loan with a very low down payment, and at a lower interest rate in comparison to a traditional mortgage.
VA Loans offer potential homebuyers in Boston, MA many benefits, including the ability to purchase a home with no down payment and more lenient eligibility requirements than traditional loans. Because VA Loans are backed by the government, you will pay a lower interest rate than you would with a traditional loan, and you won't have to pay for private mortgage insurance. VA Loans also cap closing costs and offer lenders more flexibility, meaning you may qualify for a lower interest rate or additional home features.
What factors influence the cost of mortgage insurance in Boston?
One of the major factors that can greatly influence the cost of mortgage insurance in Boston, MA is the housing market. Mortgage insurance premiums can become more expensive in the event that the demand for homes is high and the limited availability of housing causes prices to increase. Another factor is the local economy and the overall stability of the job market. For instance, if the job market in Boston is strong, it can make it easier for people to qualify for a mortgage and possibly decrease the cost of the insurance premiums. Finally, the credit score of the potential mortgage holder can also play a role in the cost.
When does a Boston mortgage insurance policy go away?
In Boston, mortgage insurance typically disappears once the loan-to-value ratio reaches 78% or less. This means that borrowers in Boston have to wait until they have paid off at least 22% of their loan's amount before the mortgage insurance they have to pay will stop. In other words, if you took out a loan for $100,000, then you would have to pay off at least $22,000 of it before mortgage insurance goes away.
How do I calculate mortgage insurance for a Boston mortgage insurance company?
If you are in the Boston, MA area, you can use the Massachusetts Home Loans Division of the Massachusetts Department of Housing and Community Development to calculate your mortgage insurance. The website offers a calculator which considers factors such as your loan amount, loan type and loan term to accurately compute the approximate cost of monthly mortgage insurance, if applicable. You may also choose to contact a local mortgage company to discuss customized mortgage options and estimated mortgage insurance rates.
Can I opt out of services from mortgage insurance companies in Boston?
Yes, you can opt out of mortgage insurance in Boston, MA. If you have at least 20 percent of the purchase price of the home saved for a down payment, or the loan to value ratio (LTV) is less than 80 percent, you may be exempt from mortgage insurance requirements. Seek the advice of a local mortgage professional in Boston to discuss your situation and determine if you meet the requirements to opt out of mortgage insurance in the area.
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