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Compare over 20 top providers in Clovis, 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...
In Clovis, CA, homeowners can select from several types of mortgage insurance, including Private Mortgage Insurance (PMI), Lender Paid Mortgage Insurance (LPMI), and FHA Mortgage Insurance. PMI is typically charged to borrowers in a situation where they are financing more than 80% of the value of the home. LPMI allows the lender to pay the cost of the mortgage insurance premium, but it will be reflected in the loan structure. FHA Mortgage Insurance requires an upfront premium plus an annual premium and is intended to protect lenders in the event of a borrower default.
How can I reduce my Clovis mortgage insurance policy cost with a larger down payment?
Increasing your down payment could be a great way to reduce your mortgage insurance cost in Clovis, CA. By making a larger down payment, you can reduce the amount of money you need to borrow via a loan. This means that you can pay less in mortgage insurance coverage, which provides protection for the lender in case you default on your loan. Additionally, it is important to remember that mortgage insurance costs are typically calculated as a percentage of the loan amount. Therefore, the larger your down payment is, the lower your mortgage insurance cost will be.
What are the benefits of having a private mortgage insurance policy Clovis?
Benefits of Private Mortgage Insurance (PMI) depend on the specific location of the home and the capabilities of the homeowner. In Clovis, CA, PMI helps protect the interests of both the homebuyer and the lender in the event of a default. PMI also helps to provide more options to those unable to come up with a 20% down payment, allowing them to own a home sooner than otherwise possible. Further, PMI can help lower the monthly payments for qualifying homebuyers, enabling them to purchase their dream home more quickly than they thought.
How does FHA mortgage insurance near Clovis work?
FHA mortgage insurance in Clovis, CA works as a type of guarantee to lenders. If a borrower defaults on their loan, the FHA will reimburse the lender. This makes FHA mortgages an attractive option for borrowers who may not qualify for traditional financing. Each FHA loan requires an upfront mortgage insurance premium, as well as additional premium payments on a monthly basis during the life of the loan. Eligibility requirements also include a minimum credit score of 580, a debt-to-income ratio of 31%, proof of stable income, and a verifiable history of employment.
Do Clovis mortgage insurance companies offer USDA insurance?
USDA mortgage insurance is available to borrowers in Clovis, CA looking to purchase a home with zero down payment. The insurance protects lenders who provide zero-down loans, covering up to 1% of the value of the loan should the borrower default on their payments. Income requirements may vary by county, so it's a good idea to check with a local lender for the income eligibility requirements for USDA programs in Clovis.
Generally, VA loans offer beneficial terms and benefits, making them an attractive choice for Veterans and active-duty personnel who are looking to purchase property in Clovis, CA. However, the downside is that these loans cannot be used for a second home or an investment property. Also, VA loans require a funding fee, which cannot be rolled into the loan balance. Other drawbacks to a VA loan in Clovis, CA are that there are limits to VA loan amounts, and there may be additional closing costs for the borrower.
Are there discounts available for mortgage insurance in Clovis?
Yes, discounts for mortgage insurance are available for residents of Clovis, CA. In addition to Federal programs such as the Good Neighbor Next Door program which offers discounts for educators, fire fighters, and law enforcement personnel, many local lenders offer discounts for people in Clovis, CA who buy mortgage insurance. Some of these discounts can include credits for paying an upfront mortgage insurance premium or for choosing to an extended mortgage insurance term. Residents should always check with their lender to see what discounts and special offers are available in order to get the best deal for their mortgage insurance.
Can I cancel my Clovis mortgage insurance policy early?
Yes, if you live in Clovis, CA you can cancel your mortgage insurance early. To do this you must first make sure that you are current on your mortgage payments, and have at least 20 percent equity in the property. You may also need to provide proof that the value of the home has not decreased since you got your loan. You need to contact your lender and ask about their process for cancelling your mortgage insurance early. Some lenders may require you to have mortgage insurance in place for a certain number of years before allowing you to cancel it.
How do I calculate mortgage insurance for a Clovis mortgage insurance company?
Calculating mortgage insurance in Clovis, CA can be done by consulting with an experienced loan officer. They will be able to review the details of your loan, including your credit history, current rate, loan term, loan-to-value ratio and other details, to determine the exact amount of mortgage insurance that will be required to secure the loan. Different lenders may have different rates and terms, so it is important to shop around before selecting the lender to ensure you get the best deal and the best coverage for your mortgage.
What happens if I don't use mortgage insurance companies in Clovis?
If you live in the Clovis, CA area and don't have mortgage insurance, you could potentially be exposed to some significant financial risk if you aren't prepared in the event of an unexpected circumstance. As a homeowner without mortgage insurance, you would be responsible for the entire loan balance if you encountered a hardship or disaster that made it impossible to make your mortgage payments. This could leave you with no home and a huge debt that you'll be responsible for paying off. To protect yourself from situations like this, it's important to get mortgage insurance before signing on for a home loan.
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