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Compare over 20 top providers in Clarkston, GA
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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 Clarkston, GA is designed to protect lenders from potentially large losses that can result from borrowers defaulting on their loan. It requires the borrower to pay a one-time premium, usually at the time of closing, which is then applied to the mortgage balance. Depending on the borrower's down payment size, and credit qualifications, insurance coverage may be required to get a loan. Generally, the more you borrow relative to the value of the home, the higher the mortgage insurance premium will be.
How can I reduce my Clarkston mortgage insurance policy cost with a larger down payment?
Financing a home in Clarkston, GA can be made more economical by increasing your down payment. This is because the larger down payment reduces the overall mortgage amount, which in turn lowers the mortgage insurance costs associated with the loan. Mortgage insurance provides valuable protection in the event of default, so it is important to still consider it even though it can be expensive. Fortunately, there are several options in Clarkston, GA to help you lower your payment and make the home buying process more affordable.
Who is eligible for a private mortgage insurance policy Clarkston?
In Clarkston, GA, eligibility for private mortgage insurance (PMI) depends on the type of mortgage you select, your creditworthiness, income, down payment amount, and other factors. Generally, anyone whose down payment is less than 20% of their home's purchase price is required to purchase PMI. Additionally, in Georgia, certain low-income homebuyers may be eligible for reduced PMI and other mortgage assistance. In any case, if you are considering a residential mortgage, you should check with your lending institution for more information on PMI eligibility requirements.
What is FHA mortgage insurance near Clarkston?
FHA mortgage insurance can be a great option for prospective homeowners in Clarkston, GA. It is designed to protect lenders in case borrowers default on their mortgage loan. The premiums for FHA mortgage insurance are usually much lower than they are for conventional loans, which makes them more attractive and accessible for families in Clarkston. Additionally, borrowers can qualify with lower credit scores and down payments when they take advantage of FHA mortgage insurance options. FHA loans are a great way for families in Clarkston to purchase quality homes without putting excessive strain on their finances.
Who is eligible for USDA insurance from Clarkston mortgage insurance companies?
In Clarkston, GA, anyone who meets the USDA mortgage insurance requirements is eligible. These requirements usually include having a steady income, ownership of a property located in an approved rural or suburban area, and the ability to prove your eligibility with supporting documentation. Additionally, USDA mortgages are for owner-occupied properties only, so buyers must intend to use the property as their primary residence. Those who meet the income and credit score requirements as set by the USDA will likely qualify after successfully undergoing a loan application and underwriting process.
In the city of Clarkston, Georgia, Veterans, Active Duty Military personnel, National Guard Members, and eligible surviving spouses may all receive VA loan eligibility. In order to take advantage of VA home loan benefits, borrowers must generally have not had a VA loan within the last two years. It is generally also necessary for the borrower to have ‘veteran entitlement’, which is essentially a measure of the amount of guarantee the Department of Veteran Affairs will provide for each loan.
Are there discounts available for mortgage insurance in Clarkston?
Yes, Clarkston, GA residents may be eligible for discounts on their mortgage insurance premiums. To see if your policy qualifies, contact your mortgage insurance company. Discounts are often available for those who make their payments on time or have a record of making their payments regularly. Typically, discounts start at 1% but vary by carrier and state. Ask your insurance company about additional discounts available based on the details of your specific policy. Additionally, consider working with a housing counselor, who can often provide valuable information and help you make informed decisions about your mortgage insurance.
What are the requirements to cancel my Clarkston mortgage insurance policy?
In Clarkston, GA, the requirements for canceling your mortgage insurance will vary depending on what type of mortgage or loan you have and the lender. Generally speaking, it is recommended that the homeowner show evidence of a minimum 20% equity in the property in order to be eligible for cancellation. Additionally, the loan must also be current in regards to payments and up-to-date on taxes. It is important to double check with your mortgage lender to ensure you meet all criteria for cancellation before applying.
How do I calculate mortgage insurance for a Clarkston mortgage insurance company?
To calculate mortgage insurance in Clarkston, GA, it is recommended to contact a local mortgage broker or lender who can walk you through the process and ensure you receive the most accurate and comprehensive rate that includes all applicable fees and insurance. Mortgage insurance payments are typically a monthly premium added to your mortgage payments as an additional expense. A mortgage broker or lender in Clarkston, GA can use your rate and term length to calculate the exact premium you will pay for your mortgage insurance.
Are there alternatives to mortgage insurance companies in Clarkston?
In Clarkston, GA, there are alternative options for mortgage insurance. A popular option is lender-paid mortgage insurance, which is when the lender pays for the mortgage insurance themselves, and the costs are rolled into the loan payments. This option can allow a borrower to get a lower interest rate on the loan and maintain a smaller down payment. Another option is to pay upfront for the mortgage insurance, allowing the borrower to get a lower loan amount and lower monthly payments.
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