Compare over 20 mortgage insurance policies in as little as 5 minutes.
With PolicyHub you get to compare over 20 mortgage insurance policy providers in as little as 5 minutes. Save time. Save big. Get started now.
Compare over 20 top providers in Chester, PA
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Chester, PA policies from all the leading insurers and choose the one that fits your needs.
Locked in rate discount and exclusive deals.
Benefit from exclusive deals offered only to residents of your state, and lock in huge rate discounts.
Customized policies just for you.
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
ATTN: 2024 rates just released!
Get the latest mortgage insurance rates for 2024 and lock in your policy today! Get started comparing policies today.
Get the perfect plan with the cheapest rates in 3 easy steps.
Done in 3 easy steps
Step 1
Tell us about yourself.
Finding the perfect mortgage insurance policy starts with answering a few questions to help us serve you better.
Step 2
Compare rates & plans with a pro.
Discuss your options with a licensed insurance agent. Compare different plans to find the best policy with the cheapest rates.
Step 3
Lock in cheap rates.
Secure the lowest rates and lock in the perfect mortgage insurance policy for you and your family.
"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.
Get started in less than 5 minutes.
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.
Save time and get the best policy with the cheapest rates. Guaranteed.
![]() |
Option 1 | Option 2 | ||
---|---|---|---|---|
100% Digital | ||||
Licensed Agents | ||||
Expert Support | ||||
Get Started in 5 Minutes | ||||
Decades of Experience | ||||
Compare 20+ Providers | ||||
Zero Hidden Costs | ||||
Top Insurance Providers |
"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...
Deciding on the right mortgage insurance policy in Chester, PA can be challenging. A good starting point is to compare the offerings of several different insurance providers and ensure they cover the areas that are important to you. Additionally, it can be helpful to meet with a financial advisor to explore your options and to discuss the specifics of the coverage, including deductibles, premiums, and restrictions. Beyond understanding how much coverage you need, there are also various factors to consider, such as financial stability and customer service ratings of the insurer.
What is the minimum down payment to avoid a Chester mortgage insurance policy?
In Chester, PA, the minimum down payment requirement to avoid mortgage insurance can vary based on the lender and type of loan. Generally, mortgage insurance is required for those with down payments of less than 20%, so making a higher down payment of 20-25% is suggested to avoid the additional mortgage insurance cost. First time home buyers may be eligible for special government or lender programs that make a lower down payment of just 3.5% possible, however, mortgage insurance will still apply.
Do I need a private mortgage insurance policy Chester?
Whether you need Private Mortgage Insurance (PMI) or not when buying a home in Chester, PA, mostly depends on the amount of down payment you are able to provide. Generally, lenders require PMI if you are not able to provide a down payment of at least 20-25% of the purchase price. If you are unable to put down that much, you should expect to pay PMI. However, there are some exceptions to this rule based on individual lenders and the type of loan that you are getting. You should always check with your trusted lender to determine if PMI is necessary.
How does FHA mortgage insurance near Chester work?
FHA mortgage insurance in Chester, PA operates similarly to other insurance programs. The program is designed to protect lenders against losses if the borrower defaults on the loan. The borrower pays an upfront premium as well as an annual premium to insure the loan. The upfront premium is paid at closing, while the annual premium can be paid monthly or in one lump sum. The annual premium is included in the borrower's monthly mortgage payments. FHA mortgage insurance is required for all FHA loans and provides numerous other benefits including lower down payments, reduced closing costs, and more flexible credit standards for borrowers.
Do Chester mortgage insurance companies offer USDA insurance?
USDA Mortgage Insurance in Chester, PA is an insurance program provided by the United States Department of Agriculture, designed to help lowand moderate-income borrowers qualify for home mortgages. The insurance program guarantees lenders that the USDA will repay a loan if the borrower defaults. This makes it more likely that banks and lenders will provide loans to borrowers with less than perfect credit, since they are backed by a government guarantee. In Chester specifically, the program is a great option for first-time homebuyers, encouraging more low-income individuals and families to become homeowners and helping broaden the local housing market.
Chester, PA residents benefit greatly from VA loans, which allow for up to 100% financing with no down payment and come with competitive rates and terms. VA loans also typically require no private mortgage insurance (PMI) and typically save homebuyers money throughout the life of the loan. In addition, VA loans are assumable, meaning that if the borrower ever wants to sell the home, the next buyer may assume the loan, saving them the time and expense associated with obtaining a new loan.
Can I negotiate the cost of my mortgage insurance in Chester?
In Chester, PA, it is possible to negotiate the cost of your mortgage insurance, and doing so could potentially save you money. Your mortgage lender will be the best source of information in this situation, as they will be able to advise you on what kind of negotiation might work for you. They also may be able to negotiate on your behalf, depending upon your particular circumstances. You may wish to talk to a mortgage specialist to explore your options and the potential savings you could achieve.
What are the requirements to cancel my Chester mortgage insurance policy?
To cancel your mortgage insurance in Chester, PA, you must generally have paid off at least 20% of the original loan amount or otherwise reached 22% equity in your home by way of home appreciation or principal paydown. Also, you must currently be in good standing with your lender, have maintained a good payment history, and have no other lien holders on the property. Depending on your situation, additional conditions may apply as well.
How do I calculate mortgage insurance for a Chester mortgage insurance company?
Calculating mortgage insurance in Chester, PA can be a complicated process. Start by determining the value of the property you are insuring. Next, establish which type of mortgage insurance you need – private or Federal Housing Authority (FHA) – so that you can determine the applicable rate. Note that the higher the loan-to-value ratio, the higher the mortgage insurance premium. Consider speaking with a qualified tax professional or mortgage specialist in Chester, PA to ensure you are getting the most accurate result for your specific situation and to determine if it might be worth it to pay a lump sum up front.
Are there alternatives to mortgage insurance companies in Chester?
Yes, there are alternatives to mortgage insurance for Chester, PA homebuyers. For example, a buyer may be able to save up a larger down payment, which can allow for a lower loan-to-value ratio and may make mortgage insurance unnecessary. Some lenders offer a second mortgage to cover the difference between the loan-to-value ratio and the 80 percent mark. Additionally, buyers with a good credit history and substantial financial assets may qualify for mortgage-insurance waivers. To determine which option is best for your situation, it is best to talk with a qualified loan officer.
Compare Life Insurance Policies
Get started today and compare over 37 life insurance providers in as little as 15 minutes.
© 2024 PolicyHub - all rights reserved