Taking too long? Close loading screen.
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 Compton, CA
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Compton, CA 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...
Mortgage insurance in Compton, CA is a type of coverage that helps borrowers protect themselves against loss or damage to their loan in case of default. It is often required for borrowers who take out mortgages with less than 20 percent down payment. While mortgage insurance does not directly cover the home, it provides monetary compensation for the lender when the loan defaults to help make up for some of their losses. Mortgage insurance typically consists of two types of coverage: mortgage insurance premiums (MIPs) and private mortgage insurance (PMI). MIPs are paid by the borrower to the U.S.
Can I avoid a Compton mortgage insurance policy with a larger down payment?
Yes, making a larger down payment on a home can help you avoid mortgage insurance in Compton, CA. Depending on your credit score and the type of loan you are seeking, you may qualify for a loan with a lower down payment requirement. It’s important to talk to a qualified mortgage loan officer in Compton to determine the best down payment and the mortgage insurance options available to you. A larger down payment can also lead to a lower interest rate on your loan, potentially saving you money in the long run.
Who is eligible for a private mortgage insurance policy Compton?
Generally, most borrowers in Compton, CA that put less than 20% down on their home are eligible for private mortgage insurance. This insurance helps lenders protect themselves in case a borrower defaults on their mortgage loan and also helps borrowers get approved for the loan they’re seeking. PMI is typically required if the borrower puts less than 20% down when purchasing a property. Private mortgage insurance will also guard against potential losses when the lender issues a loan on a home with a high loan-to-value ratio.
How does FHA mortgage insurance near Compton work?
FHA Mortgage Insurance works by requiring borrowers to pay a one-time up-front mortgage insurance premium (MIP) of 1.75% of the loan amount plus an annual premium paid in monthly installments. In Compton, CA, this helps to make housing more accessible for borrowers looking to take advantage of FHA financing. Additionally, the annual premium is lower for borrowers taking out loans over 15 years, allowing them to finance more of their purchase and keep cash on hand for other needs. Ultimately, the insurance requirements help create more opportunities for borrowers to achieve their homeownership goals.
Who is eligible for USDA insurance from Compton mortgage insurance companies?
Anyone who meets the criteria established by the United States Department of Agriculture can be eligible for their mortgage insurance program. In Compton, California, the eligibility requirements include falling within the USDA's income limits for the area, being able to qualify for a loan, and having a sufficient debt to income ratio. Homeowners must also live in an area that has been designated by the USDA as rural in order to receive the benefits. Generally, the dwelling must also be modest-sized, in good condition, and meet the standards established by the USDA for type and size.
One of the potential drawbacks of a VA loan for a homeowner in Compton, CA, is that lenders' fees may not be fully waived, as the maximum amount a Veteran can borrow without providing down payment is often limited. Also, VA loans do require funding fees that increase the amount of the loan, so the borrower must ensure that these fees are covered when deciding whether or not a VA loan is the right option. Additionally, money for repairs or improvements to the home cannot be included with a VA loan and any cash-out refinancing and home equity loans are generally not allowed under VA loan rules.
How much is mortgage insurance in Compton?
The cost of mortgage insurance in Compton, California varies greatly depending on the type of loan you obtain, the amount of your loan, and your credit score. Generally, you should consider budgeting at least 0.3% to 1.5% of the principal loan amount for your mortgage insurance premium. To get an accurate idea of what you can expect to pay, it's best to speak with a qualified loan officer who can crunch the numbers specific to your home loan and provide a precise estimate.
Does the mortgage insurance termination process vary by Compton mortgage insurance policy?
The mortgage insurance termination process may vary by lender, but in Compton, California, it is generally the same. Most times, the mortgage insurer will review the homeowner's loan to determine if they meet the requirements for automatic termination, such as having an loan-to-value ratio of 78% or lower. The requirements are typically based on the date of the original loan, the loan balance, and the property's appraised value. The homeowner may also be required to provide proof of hazard insurance, taxes paid, and any other documents to prove they are no longer obligated to the mortgage insurer.
Is there an online calculator for mortgage insurance from a Compton mortgage insurance company?
Yes, there is an online calculator for mortgage insurance in Compton, CA. This calculator is tailored specifically to the city and can help you determine the amount of mortgage insurance you may need. It can be useful in helping you analyze different loan packages and explore your options. The calculator also provides you with detailed information on current mortgage rates for Compton's listings, as well as the average monthly mortgage payments you can expect with different mortgage insurance options. With the use of this calculator, you can better plan your budget and make the best financial decision for your situation.
Can I opt out of services from mortgage insurance companies in Compton?
In Compton, CA, there are several options for homeowners who are looking to opt out of mortgage insurance. Depending on your personal financial situation, you may be able to look into conventional loans, assumable mortgages, or Veterans Administration loans which do not require mortgage insurance. Other options that may be available include investing in a larger down payment, applying for a lender-paid mortgage insurance policy, or exploring options with your lender if they are willing to waive mortgage insurance.
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